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TORONTO, June 12, 2015 /CNW/ - Aquila Resources Inc. (TSX: AQA) ("Aquila") announced today that it has filed a letter of intent with the Michigan Department of Environmental Quality ("MDEQ") to submit a permit application for its gold and zinc-rich Back Forty Project before year end 2015.
"Securing mining and environmental permitting for our flagship Back Forty project represents an important milestone for the company," said Barry Hildred, CEO of Aquila Resources. "Our focus in the coming months will be to work closely and collaboratively with local stakeholders, government representatives and advisors to ensure that our permit application is completed on a timely basis and is clear, comprehensive and fully compliant with Michigan's environmental regulations."
Aquila also plans to submit the associated air, water and wetland permit applications in addition to the Mining Permit application.
Aquila has retained the services of Foth Infrastructure & Environment LLC ("Foth"), an engineering firm based in Green Bay, Wisconsin to assist in the preparation of the permit applications.
Foth has worked on the Back Forty project since 2006, conducting a series of technical studies, including geochemistry of waste rock and tailings, bedrock hydrogeology, water treatment, groundwater modeling, air quality and deposition modeling, reclamation planning, and tailings and waste rock storage facility design. Foth also managed a consulting team that conducted baseline environmental studies at Back Forty.
Founded in 1938, Foth has extensive experience in the mining industry, providing a wide range of engineering and environmental services.
About Aquila Resources
Aquila Resources Inc. (TSX: AQA) is a development-stage company with assets in the Great Lakes Region including its 100%-owned gold- and zinc-rich Back Forty Project in Michigan's Upper Peninsula.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statement with respect to: (i) the economic analysis contained in the PEA; (ii) the development plan of the PEA and results thereof; (iii) capital expenditure programs; (iv) the quality or quantity of the mineral resources subject to estimates by Aquila; and (v) work plans to be conducted by Aquila.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. Aquila expressly disclaims any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.
SOURCE Aquila Resources Inc.