Aquila Resources Inc. (TSX: AQA) is a development-stage company with strategic assets in the Great Lakes Region.
The company’s experienced management team is currently focused on advancing its 100%-owned gold- and zinc-rich Back Forty Project in Michigan. The Back Forty Project is a volcanogenic massive sulfide (VMS) deposit located along the mineral-rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. The Project contains approximately 1.1B pounds of zinc and 1M ounces of gold in the Measured & Indicated Mineral Resource categories, with additional upside potential. Aquila has received all State and Federal permissions required for the construction and commencement of operations at the Back Forty Project.
A 2018 Feasibility Study demonstrated:
• Pre-tax NPV at a 6% discount rate of $259M and IRR of 32.0% at base case metal prices (see August 1, 2018 press release)
• After-tax NPV at a 6% discount rate of $208M and IRR of 28.2% with a 2.2 year payback
The Feasibility Study lays the foundation for the next set of value-creating milestones including engineering activities, financing activities, and commercial production.
The Company has three other exploration projects: Reef Gold Project located in Marathon County, Wisconsin, the Bend Project located in Taylor County, Wisconsin and Aquila Nickel located in the Upper Peninsula, Michigan. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold.