GoldMinerPulse Report on Aquiline Resources Inc: (NI) 43-101 Metal Valuation Report

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Aquiline Resources Inc (AQI)

Company Web Site: www.aquiline.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-11-30. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2012-02-03.

External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading

Recent Production

  • 2009 : Note, as of December 23, 2009, Aquiline resources have been included as part of the Pan American Silver count. This Aquiline Metal Valuation Report will be maintained for now as it contains important information regarding hedges and mining restrictions.
Source(s):

Hedge Notes:

4.2 Agreements and encumbrances, p. 13 of 245 of the NI 43-101 report dated May 2009.

Silverstone Resources has rights to 12.5% of the eventual silver produced at Loma de La Plata under a “silver stream” agreement. Aquiline has represented that Navidad is not subject to any other royalties, back-in rights, payments, agreements, or encumbrances.

Note: Loma de La Plata has 158M oz Ag Measured + Indicated and 3M oz Inferred. Therefore, as a rough approximation, the Silverstone Resources rights are eqivalent to 2.5% of the total Navidad deposit silver, as estimated by the May 2009 NI 43-101 report.

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2012-02-03

Project/Deposit CC MVpSh  PP%  MI%  I% GoldSilverCopperLead
    NavidadAR$323.39084%16%     753.24 M oz    15.98 K t    1.58 M t    
    CalcatreuAR$20.54075%25%902.07 K oz    8.43 M oz              
    Pico MachayPE$13.71037%63%711.50 K oz                   
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2012-Feb-03
Metric / MetalGoldSilverCopperLead
    Metal Totals1.61 M oz    761.66 M oz    15.98 K t    1.58 M t    
    Metal Prices in US$ (from 2012-02-03)$1,725.90 / oz    $33.63 / oz    $3.89 / lb    $1.00640 / lb    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)		$31.08    $285.88    $1.53    $39.15    
    Percentage of Total Metal Value8.69%    79.94%    0.43%    10.95%    
    PP% | MI% | I%0 | 58% | 42%    0 | 84% | 16%    0 | 97% | 3%    0 | 83% | 17%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2012-Feb-03
    Metal Value per Share (MVpSh)   US$357.64
    Average Ore Value per Tonne   US$
    Metal Value Leverage (MVL)    -no stock price-
    Recent Stock Price   C$   (TSX/TSXV close on 2012-02-03.)
  Conversion rate used: 1 Cnd$ = 1.00682 US$ )
    Fully Diluted Share Count   89.60 M    ( Fully diluted share count is from Aquiline Resources Inc. Stock Performance web page viewed November 2009. )
    PP% | MI% | I%   0 | 82% | 18%
Silver Metrics-- all Projects/Deposits
    Average Silver Ore Grade    g/t
    Market Capitalization
    per oz of Silver In Ground		   $0.00   US$  |   0.00   C$
    Silver Eq Oz Estimate   952.84 M oz   ( 761.66 M oz are in ground)
    Market Capitalization
    per oz of Silver Equilavent		   $0.00   US$  |   0.00   C$
 
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Navidad Local Law    -   P. 22 of 245 of the NI 43-101 report dated May 2009.

Quote: In 2006 the government of Chubut Province decreed a three year moratorium on all mining activities, including exploration, in the western part of the Province. This moratorium is due to expire on 29 June 2009. The Navidad Property lies outside of and to the east of these “no-mining” zones. The government of Chubut Province has also decreed a Province-wide ban on the use of cyanide for mining purposes and the development of open pit mines. The law states that the government of Chubut Province will accept and review mining proposals, including open pit and cyanide based mining operations, on a case by case basis and determine at that point whether permits may be issued.  

Calcatreu Project Summary    -   P. 2 of 237 of the NI 43-101 report dated April 2007.

Quote: The Calcatreu Project is owned by Aquiline Resources Incorporated (AQI). At this time, legislative restrictions placed on the use of cyanide by the Rio Negro government mean no economic or practical processing route for treating the Calcatreu mineralization is available.  

Pico Machay Ownership    -   Aquiline Presentation, Pico Machay slide 22 of 29

Aquiline's ownership is assumed to be 100% based on: "AQI owns 75%*, LOI pending with intent to purchase remaining 25%" 

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of Aquiline Resources Inc has started but is not complete.

Calcatreu    -  ^top^

(NI) 43-101 Report:

Title: CALCATREU GOLD PROJECT Initial Feasibility Study
Date: 2007-04-05 (237 pages)

Updates: Aquiline Reports Updated Mineral Resource Estimate on Calcatreu, April 2008.

Project Location: Rio Negro, Argentina

Map View: View the Calcatreu Gold project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$13.02    676.03 K oz     2.630 g/t     8.00 M t    
   Silver$2.48    6.61 M oz     25.700 g/t     8.00 M t    
Estimate notes: See Aquiline Reports Updated Mineral Resource Estimate on Calcatreu, April 2008.
See press release for surface, leach and underground cutoff assumptions.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$4.35    226.04 K oz     2.060 g/t     3.41 M t    
   Silver$0.68    1.82 M oz     16.600 g/t     3.41 M t    
Estimate notes: See notes for Indicated.

Navidad    -  ^top^

(NI) 43-101 Report:

Title: Aquiline Resources Inc.: Navidad Project, Chubut Province, Argentina
Date: 2009-06 (247 pages)

Project Location: Chubut, Argentina

Map View: View the Navidad project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Silver$237.85    633.70 M oz     127.000 g/t     155.20 M t    
   Copper$1.49    15.52 K t       100.000 g/t     155.20 M t    
   Lead$32.67    1.32 M t       8,500.000 g/t     155.20 M t    
Estimate notes: See Table 1.1 Navidad April 2009 Mineral Resources reported above a cut-off grade of 50 g/t AgEQ on p. 13 and 14 of 245 in the NI 43-101 dated May 2009.
Cutoff 50 g/t AgEQ.
Note, the copper grade was reduced to match the reported 33M lbs of copper.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Silver$44.86    119.53 M oz     81.000 g/t     45.90 M t    
   Copper$0.04    0.46 K t       10.000 g/t     45.90 M t    
   Lead$6.48    261.63 K t       5,700.000 g/t     45.90 M t    
Estimate notes: See notes for Measured + Indicated.
The copper grade was reduced to match the reported 1M lbs of copper.

Pico Machay    -  ^top^

(NI) 43-101 Report:

Title: Independent Technical Report And Resource Estimate Pico Machay Gold Deposit HUANCAVELICA PROVINCE, PERU
Date: 2009-11-25 (130 pages)

Project Location: Huancavelica, Peru

Map View: View the Pico Machay Gold project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$5.12    265.82 K oz     0.780 g/t     10.60 M t    
Estimate notes: See table on p. 10 of 130 of the NI 43-101 report dated November 2009.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$8.58    445.67 K oz     0.580 g/t     23.90 M t    
Estimate notes: Inferred (Sulphide)

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