Aguila American Gold Ltd. [AGL-TSXV, AGLAF-OTCQB, A2DR6E-WKN] said Thursday it has changed its name to Aguila Copper Corp. The shares are expected to begin trading on the TSX Venture Exchange under the new name on December 3, 2021. The trading symbol remains unchanged.
“We are pleased to announce the new name for the company, which better reflects the current and future asset portfolio,” said Aguila President and CEO Mark Saxon. “We see tremendous opportunity for the exploration and development of the essential materials for the energy transition,” he said.
On December 1, 2021, Aguila shares closed at 20 cents and currently trade in a 52-week range of 67 cents and 18.5 cents.
Aguila was in the news recently when it acquired through staking the Cora copper project in Pinal County, Arizona. Aguila said the project was identified during an extensive and ongoing project generation program targeting copper deposits within mining supportive jurisdictions in North America.
Prior to the Cora copper acquisition, Aguila had been focused on exploration at the WUSA Gold Project in Oregon.Â In late April, 2021, Aguila released results from an early winter drilling program at WUSA after a delay caused by a high workload and COVID-19 restrictions at the analytical laboratory.
The Cora project lies 75 kilometres northeast of Tucson, within the heart of the Arizona copper belt. The project is 100% owned by Aguila, secured by 46 granted BLM lode mining claims covering 3.84 square kilometres. The company said many of North America’s largest copper mines and development projects lie within 100 kilometres of Cora, including Ray Miami, Resolution, Florence and Silver Bell.
The project is also centred 2.0 kilometres east of the North Star copper mine under shallow cover. North Star was a producer of copper ore for Miami Copper Co. and ASARCO in the mid 1900s. Drilling at Cora was last recorded over 40 years ago, when significant widths of oxidized copper were intersectedÂ beneath shallow alluvial cover in an area exceeding one kilometre.
Drill hole (DH5), for example, returned 99.7 metres of grade 0.28% copper below 10.7 metres of alluvial cover. Drilling results are historical in nature and have not been verified by a qualified person as defined by National Instrument 43-101 compliant standards of disclosure.
They should therefore only be considered an indication of the mineral potential of the project.
“The newly staked Cora project represents an exciting first step for Aguila into copper exploration in the Western U.S.,” said Saxon has said.
“We have been progressively and patiently assessing projects, and Cora stands out as a significant copper prospect in one of the world’s premier copper producing regions,” he said.