Aquila begins winter drilling program at Back Forty project

TORONTO, CANADA — Aquila Resources Inc., a permitting-stage company, today announced the start of a 4,600 meter winter drilling program designed to expand known resources at its zinc- and gold-rich Back Forty project located in Michigan’s Upper Peninsula, and convert current inferred resources into measured and indicated categories.

The drill program will consist of two diamond drills. One drill will focus on infill and step out drilling on the known resource at Back Forty. The other drill will target geophysical targets peripheral to the Back Forty deposit as well as expansion drilling on the new mineralized zone discovered in 2016 (see Aquila’s press release dated September 27, 2016.)

The focus of the infill and step out program is to expand known resources associated with potential underground mining as well as to convert inferred resources into measured and indicated categories. Drilling will target the southwest extension of the Pinwheel massive sulfide zone as well as Main zone and Deep zone massive sulfide and gold mineralization.

Exploration drilling will target strong electromagnetic and gravity anomalies south of the Back Forty deposit and will further define and expand the new zone of massive sulfide discovered in 2016.

In addition to the planned drilling program, recently drilled geotechnical holes at Back Forty have intercepted inferred resources of the Pinwheel massive sulfide zone. These drill holes are currently in the process of being sampled and assayed.

Initial results from the planned drill program and the recently drilled geotechnical holes are expected in April, 2017.

The winter drilling program is consistent with the funding objectives of Aquila’s recently completed private placement.