- MICHIGAN
REGULATORS DEEM BACK FORTY WETLANDS PERMIT APPLICATION
ADMINISTRATIVELY COMPLETE AND PUBLIC NOTICE HAS BEEN ISSUED
-
Shares Outstanding: 331,009,296
TORONTO, Dec. 8, 2017 /CNW/ - Aquila Resources
Inc. (TSX: AQA)("Aquila" or the "Company") is pleased to
announce that the Michigan Department of Environmental Quality
("MDEQ") has deemed Aquila's wetland/steam/floodplain permit
application for the Back Forty Project administratively complete
and the regulatory technical review process can now move to the
next stage. This is the fourth and final permit required to build
and operate the Back Forty Project, a planned open-pit, zinc-gold
mine in Michigan's Upper
Peninsula.
Today, the MDEQ issued their public notice, along with an
announcement of a January 23, 2018
public hearing as requested by Aquila. The MDEQ review process,
along with the public hearing provides the community with
opportunities to comment on the permit application. In addition,
the MDEQ will gather input from various regulatory agencies,
including from the United States Environmental Protection Agency
("EPA").
A final permit decision is expected from the MDEQ in the first
half of 2018.
ABOUT AQUILA RESOURCES
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
permitting activities for its 100%-owned gold- and zinc-rich Back
Forty Project in Michigan.
Aquila's flagship Back Forty Project is an open pit volcanogenic
massive sulfide deposit with underground potential located along
the mineral-rich Penokean Volcanic Belt in Michigan's Upper Peninsula. The Project
contains approximately 1 billion pounds of zinc and 1 million
ounces of gold in the M&I categories, with additional upside
potential. Currently Aquila is trying to secure the final
State permit required to build and operate Back Forty while
completing a Feasibility Study.
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.