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Aquila Resources Inc.
Summary
| Project: | Back Forty | |
|---|---|---|
| Deposit: | Back Forty | |
| Location: | United States | |
| Commodities: | Gold-Silver-Zinc-Copper-Lead | |
| Date: | 8/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 1-8-2018: Aquila Resources Inc. announces a Feasibility Study report for its Back Forty deposit at the Back Forty project. FS results incl. post-tax NPV of US $208M (6%), IRR of 28.2%, Initial ore reserve at the project. TORONTO, ON – AUGUST 1, 2018 – Aqu | |
| Resources: | (Reserve, P+P): 11.65Mt @ 1.85g/t Au, 21.7g/t Ag, 2.64% Zn, 0.21% Pb, 0.28% Cu | |
| CP/QP: | [Overall Report]: Eugene Puritch (P&E Mining Consultants Inc.) | |
| ABSTRACT: | TORONTO, ON – AUGUST 1, 2018 – Aquila Resources Inc. (TSX: AQA) (“Aquila” or the “Company”) announced today the results of an independent open pit only Feasibility Study (“Feasibility Study”) completed on its 100% owned zinc- and gold-rich Back Forty Project in Michigan. The Feasibility Study was compiled by Lycopodium Minerals Canada Ltd (“Lycopodium”) with support from globally recognized experts and specialist consulting engineering companies in environmentally critical areas such as waste water treatment, tailings and waste rock management and mine design. All economic values within this news release are in US dollars unless indicated otherwise. “The completion of the Back Forty Project Feasibility Study is a significant milestone for Aquila and sets the stage for the next steps to develop this deposit,” said Barry Hildred, President and Chief Executive Officer of Aquila. “Back Forty is well-positioned as a permitted project in a favourable mining jurisdiction that is close to existing infrastructure. We can now focus the Company’s resources on the pre-construction phase at Back Forty while considering funding alternatives to complete the development of the Project.” Andrew Boushy, P.Eng., Senior Vice President, Projects commented, “I want to thank our entire expanded team of specialists and consultants for all of their efforts in helping us complete the Feasibility Study. The robust results of the study clearly demonstrate that Back Forty is a compelling project based only on an open pit operation and we see several opportunities to further enhance value that will be advanced during the detailed engineering phase. We have set the bar high for environmental protection and plan to engage local contractors who live in the community in which we will operate. | |
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