Business
Aguila American Gold Provides Shareholder Update and Outlook
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2020) -  Aguila American Gold ...
About this update from T2 Metals Corp
[{"type":"text","content":"Aguila American Gold Provides Shareholder Update and OutlookVancouver, British Columbia--(Newsfile Corp. - October 8, 2020) -  Aguila American Gold Limited (TSXV: AGL) (\"Aguila\" or the \"Company\") is pleased to provide a shareholder update following the recent closing of a financing and the concurrent acquisition of a new regional scale gold project in the western USA.As announced 28th September 2020, Aguila closed a CDN $2.68m financing and received regulatory acceptance to an option agreement to acquire up to 80% of the WUSA Gold Project located within the Western Cascades, Oregon, USA. An NI43-101 Technical Report completed by independent consulting geologist Mr John Rice entitled \"Technical Report For The WUSA Gold Project, Lane And Douglas Counties, Oregon, USA\" (the \"Technical Report\") is now available on the Company website and at www.sedar.com. The Technical Report highlights the opportunity for discovery at the WUSA Gold Project, which covers approximately 70,000 Ha. The area has seen very little modern exploration, as the land and mineral rights have been held by a single landholder (the \"Landholder\") for more than 150 years over which time mineral rights have never been optioned to third parties. Regional data is sparse; however, four prospect areas have already been identified by the Landholder (Scorpion-Cinnabar, Huckleberry, Walker Creek and Hobart Butte). The prospects all show evidence of strong epithermal alteration with two demonstrating gold in bedrock. Key PointsWUSA is a district-scale project, highly prospective for high and low sulphidation epithermal gold systems (see Figure 1). The site lies adjacent to a 19th century gold rush area where small scale placer miners continue to be active; Four prospect areas have been identified to date:Scorpion-Cinnabar, where a gold in soil geochemical anomaly has been identified across a 2.2 km long up to 400-metre-wide area. Soil samples regularly exceed 1g/t Au (up to 5.51g/t Au) above highly acid altered rocks; Huckleberry, where siliceous ridges trend over 3 kilometres with high sulphidation vuggy silica textures and acidic steam vents that outcrop for 1,000 metres. Geochemically anomalous rock samples with Sb, As, Hg, Bi, Mo are coincident with classic epithermal alteration zones;Walker Creek, where high-level maar-type low sulphidation epithermal alt...