10:01 AM EST - Aquila Resources Inc. : provided an update on the Back Forty Project in the Upper Peninsula of Michigan, other Aquila projects in the Great Lakes area, as well as recent activities completed on gold properties in the Southeastern U.S.. The Back Forty Project, located in the Upper Peninsula of Michigan, is an advanced stage gold, silver, zinc and copper exploration project currently operating under a joint venture with Hudbay Minerals Inc. and Aquila, owned 51%/49% respectively. Hudbay decided to suspend its development activities at the Back Forty earlier this year due to other capital commitments on its key development projects and global economic conditions. Currently, evaluation of strategic options for the Back Forty Project continue as both Aquila and Hudbay consider a range of potential structures to continue to advance the project to permitting and potential production. The project is being maintained in a ready to go status to capitalize on the engineering, environmental and other work completed by the joint venture. Aquila Resources Inc.
shares T.AQA are trading up $0.005 at $0.17.
