viewAguila American Gold Ltd

Aguila American Gold appoints former Ventana Gold exec as CEO


Aguila American Gold (CVE:AGL) says it has elected Blair Way as its new president and CEO after an annual general meeting of shareholders. 

 "We are very pleased to have attracted Blair to this role. His management and interpersonal skills combined with his background and experience with mining projects in many different countries makes him well suited for leading this company to the next level," said chairman John Huguet in a statement last night. 

Way was most recently vice president, project director, reporting to the CEO of Ventana Gold's LaBodega project in Colombia. Ventana was purchased by Ike Batista in 2009 for $1.5 billion. 

Prior to this, Way was president and project director for OceanaGold Philippines on the Didipio gold copper project, and before this, was project manager for Non Ferrous Group with Hatch Associates. 

He also worked as project director for BHP Billiton in Queensland, leading a group that was responsbile for implementing A$210 million of improvement projects from pre-feasibility through to commissioning.              

"I look forward to leading the company and driving the exploration activities on the Angostura project to an NI 43101 compliant resource," said Way.

"This asset exhibits all the attributes I look for in a project. I greatly anticipate working with the AGL team, with the aim of growing the company through to mid-tier status."            

Also at the annual meeting, the directors appointed John Huguet as chairman, Nick DeMare as CFO and James McCrea as VP of exploration.

Aguila American Gold is an emerging gold exploration company focused on advancing its flagship gold project, Angostura, located 180 kilometres southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. 

Angostura is situated around 25 kilometres from the Las Bambas Mine, a $4.5 billion mining project being developed by Xstrata Mining Pty.

Late last month, the Vancouver-based company said that drilling has now started at the project. The aim of the program is to produce an NI 43-101 compliant resource by the second quarter of next year.

In preparation for the campaign, the drill camp has been completed, along with 7 drill pads of the 20 permitted. The company is using a custom built, mid-sized, man-portable diamond drill capable of delivering a larger-diameter drill core.

Aguila said its crews will be drilling 2x12 hour shifts per day until the Christmas break, with initial drilling focused on zones 1 and 2 of the more than 5.0 kilometres of mapped strike length. 

Quick facts: Aguila American Gold Ltd

Price: 0.49 CAD

Market: TSX-V
Market Cap: $9.9 m

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