ENP Newswire -
Release date- 13082014 -
Aquila's Management's Discussion and Analysis (MD&A) and Financial Statements for the quarter are available on the Company's website and on SEDAR at www.sedar.com.
Aquila's focus in Q2 2014 was on completing a series of trade-off studies to determine the optimal mine plan for Back Forty and finalizing a new preliminary economic assessment ('PEA') for the Project.
Post-Q2 2014 Highlights
Key highlights include:
A pre-tax NPV of
Potential for a diverse earnings stream with total payable production of the mine expected to be 532 thousand ounces of gold, 704 million pounds of zinc, 63 million pounds of copper, 4,645 thousand ounces of silver, and 11 million pounds of lead and
Opportunity for a low-
Subject to market conditions and available capital, Aquila's focus in 2014 remains on:
Evaluating a small exploration program on previously identified near-mine targets in Q3 2014 and
Ramping-up activities related to its permit application for Back Forty with the
An additional 155,885 ounces gold, 1.99 million ounces silver, 113.3 million pounds zinc, 17.2 million pounds lead and 18.6 million pounds copper are included in the Inferred category. The 2014 preliminary economic assessment, based on the 2013 resource estimate, provided encouraging project economics, including a
About Aquila Resources
Tel: 416 477 6985
Tel: 416 815 0700
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.
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.
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