03:44:39 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Aquila Resources Inc
Symbol AQA
Shares Issued 220,914,874
Close 2016-01-12 C$ 0.15
Market Cap C$ 33,137,231
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Aquila starts Back Forty feasibility study

2016-01-13 07:21 ET - News Release

Mr. Barry Hildred reports

AQUILA COMMENCES FEASIBILITY STUDY ON BACK FORTY PROJECT

Aquila Resources Inc. has commenced the feasibility study and construction implementation plan for its Back Forty project in Michigan's Upper Peninsula. The study will run in parallel with the permitting approval process, which was deemed administratively complete on Nov. 26, 2015. The study was awarded to Lycopodium Minerals Canada Ltd., a leading international project management and engineering firm, based in Toronto, Ont., Canada. Lycopodium will be supported by globally recognized experts and specialist consulting engineering companies in the permit-sensitive areas such as waste water treatment, tailings and waste rock management, and mine design to ensure that the Back Forty project is a world-class and innovatively advanced operation.

"With the permit approval process now in the hands of the Michigan Department of Environmental Quality, our focus for 2016 now turns to final design, planning and construction of the Back Forty mine," said Andrew Boushy, vice-president of project development at Aquila Resources. "Lycopodium offers a unique combination of experience, enthusiasm and senior management support, and we look forward to working with them as we advance the project through the detailed design and construction phases."

The feasibility study and overall plan entail the development of an engineered construction and operating plan with careful considerations for social, environmental and water management, geotechnical engineering, hydrogeology, metallurgical testing, process design, and mine planning. The feasibility study is expected to be completed in fourth-quarter 2016.

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