Aquiline launches Navidad suit

Aquiline Resources (AQI-V) has brought its battle for the high-grade Navidad silver discovery in the Patagonia region of southern Argentina to the Supreme Court of British Columbia.

The Toronto-based junior has asked the Court to establish a constructive trust over the project in Chubut Province. Also referred to as unjust enrichment, a constructive trust requires three elements; the enrichment of one party, the deprivation of another, and no legal justification for the enrichment.

Aquiline claims that IMA Exploration (IMR-V) unlawfully used confidential information owned by Aquiline’s to identify and acquire Navidad. IMA says Aquiline’s allegations are without merit, and it plans to defend itself vigorously.

Meanwhile, in San Juan province, a first phase of drilling is under way at the Mogote copper-gold project where Amera Resources (AMS-V) can earn a 51% interest from IMA.

The drilling will test the Filo Este porphyry target, where trenching late last year exposed more than 500 metres of continuous copper-gold mineralization.

Assay results from trench 1 averaged 0.33 gram gold and 2.3 grams silver per tonne, plus 0.196% copper, over 510 metres. This includes 180 metres averaging 0.44 gram gold, 0.218% copper and 1.6 grams silver.

Amera notes that the Mogote property hosts a classic “Maricunga-style” porphyry copper-gold system, as well as high-sulphidation, epithermal-style gold-silver mineralization. The property is in a region hosting numerous large copper-gold deposits.

In addition to the 2,100-metre drill program, Amera plans to carry out regional surface work at Filo Central and on other targets to advance them to the drill stage.

To earn its 51% stake in Mogote, Amera must issue 1.6 million of its shares to IMA and, over five years, spend US$1.25 million on exploration. Geologist Lindsay Bottomer is Amera’s “qualified person” at Mogote.


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