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Navidad Silver Project
DEVELOPING THE TEAM The Navidad project challenges its management and operations team to find the best geologists, engineers and support staff required to drive Navidad forward along its development path. In 2007, the company made some key additions to its team - Dean Williams is Aquiline’s Chief Geologist and expert in the Navidad style geological environment; Matt Andrews is an environmental professional in charge of Navidad’s baseline studies; and in 2008, Damian Spring joined the team as Chief Mining Engineer. These people are key members of the team that led the Loma de La Plata Scoping Study that will lead to a more comprehensive Feasibility Study. THe Scoping Study was completed by Snowden Mining Industry Consultants ("Snowden") and was released in October 2008. Over the course of 2008, drilling efforts accelerated as more rigs were added. Much of the increased drilling will essentially complement the pre-feasibility stage, focusing on infilling at Loma in an effort to further define the known resource and increase the confidence levels from inferred to indicated, which will be required for a full feasibility study. In May 2009, Aquline released a Revised Resource Estimate completed by Snowden.
A LOT OF GROUND TO COVER
Geochemical exploration for Aquiline began with a series of orientation surveys over the known zones of mineralization at Navidad. These surveys optimized sampling methods for soil and stream geochemistry sampling and to our knowledge, pioneered the use of biogeochemistry for precious and base metals in Patagonia. The Company has completed collection of 2,500 twinned soil and biogeochemistry samples on a large grid measuring 16 km by 8 km centered on the Navidad Trend. These techniques are producing intriguing results including in zones with transported surface cover. With the success at Navidad, these sampling techniques are now being utilized to explore other project areas held by the company throughout the district. Geophysical surveys in 2007 included ground gravity surveys covering the Navidad project and the commencement of a large regional airborne survey. The gravity surveys covered an area that measured 17 km by 7 km, encompassing the main Navidad deposits and the immediate surrounding area. The regional airborne survey produced both radiometric and magnetometer data, and continues in 2008. When completed, the survey will have covered an area of approximately 3,500 square kilometers, and will provide geophysical base maps for further regional exploration efforts across the favourable Jurassic age volcanic rocks on mineral tenements held by the Company. |
Aquiline assumed control of Navidad operations in November 2006 and with that, the Company set up shop in the Patagonian towns of Gastre and Gan Gan, located in central Chubut province. The communities of Gastre and Gan Gan are home to some 700 residents each and both communities have welcomed Aquiline and the advancement of the project. Aquiline is committed to its “Buen Vecinos” (Good Neighbours) policy and to date has initiated work training programs in sheet metal fabrication, carpentry, welding and hotel services. The Company is working with the community to improve schools, internet connectivity, medical centers as well as upgrading the local airstrip. As the Navidad project continues to expand, the Company is committed to expand its work force through local employment. 
Moving forward, the discovery of the Loma deposit has become the catalyst for a two phase development plan: 1) a silver-only phase, focusing efforts on the development of Loma and potentially Barite Hill and 2) a later silver plus base metal phase which would entail development of the remaining deposits along the Navidad trend including Navidad, Calcite and Galena Hills. During the first phase, mine scoping and prefeasibility work at Loma will consist of but not be limited to mine engineering studies, flow sheet design, engineering of camps, power and mine infrastructure along with social and environmental impact studies. This phase is expected to take 12-18 months and will provide the groundwork for a bankable Feasibility Study. Early expectations, subject to permitting and as milestones are delivered, are for construction to commence during 2011. 
While Navidad geologists continue to expand the deposit with step-out and exploration drilling, the Company is aggressively exploring for new target zones to drill on a regional scale. This is a multi-disciplinary effort combining geologic mapping, geochemistry and geophysics. The mapping of roughly 150 square kilometres surrounding the project has provided new insights to the geologic setting and controls to mineralization. The process of mapping continues to uncover new surface showings of mineralization.