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Friday, November 03, 2017 Derek Macpherson

AQA Reports Final Drill Results


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Aquila Resources Inc. (TSX:AQA) has reported the final drill results from its 2017 drilling program at the Back Forty project in Michigan. The company had identified a new zone of massive sulphide mineralization during the 2016 drilling program and have just tested the area. Drilling results released by the company include 1.27 g/t gold, 15.78 g/t silver and 12.17% zinc over 7.09m in hole LK-17-537, the hole had tested a southwest extension of the 2016 zone. The drill results support management’s objective of connecting the new zone’s mineralization to the project’s existing resource base in the near future. The drilling indicated that the mineralization extends for more than 120m and is open along strike. Aquila currently trades at a premium to peers on an EV/lb basis (C$0.022 vs. peers C$0.017). We believe a premium is warranted given the company’s advanced permitting stage, good jurisdiction, exploration upside and stage of development. We expect additional exploration results and the pending feasibility study along with the final permit needed for construction to be important near-term catalysts for the company.



Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
Alex Pitcher | Associate
 
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Aquila Resources Inc. - TSX:AQA -2

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