Aquila Resources Inc. (TSX: AQA) is a development-stage exploration company with strategic assets in the Great Lakes Region.
The company’s experienced management team is currently focused on advancing permitting activities for its 100%-owned gold- and zinc-rich Back Forty Project in Michigan.
Aquila’s flagship Back Forty Project is a volcanogenic massive sulfide (VMS) deposit located along the mineral-rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. It currently demonstrates a 15.1Mt Measured and Indicated (M&I) resource containing close to 1 million ounces of gold and 1 billion pounds of zinc.
A 2014 Preliminary Economic Assessment (PEA) demonstrated:
- pre-tax NPV of $282.2M at 6%
- 38.8% IRR
- 1.4-year payback period
The PEA and optimized mine plan lay the foundation for the next set of value-creating milestones:
- ramp-up of permitting activities
- commencement of a feasibility study
- exploration program focused on near-mine satellite targets