09:48 AM EST - HudBay Minerals Inc. : announced drilling results and an update on activities at the Back Forty Project in the Upper Peninsula of Michigan. The Back Forty Project is a joint venture between Aquila Resources Inc. and HudBay Minerals with HudBay currently holding a 51% interest and Aquila a 49% interest in the project. The project has recently entered a prefeasibility level of evaluation of a large volcanogenic massive sulfide deposit containing zinc, gold, silver and copper, and is expected to complete feasibility studies and submit a mine permit in the second quarter of 2012. HudBay Minerals Inc.
shares T.HBM are trading down $0.26 at $13.05.
