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Aquila announces Back Forty PEA

Aquila Resources has announced a preliminary economic assessment for its Back Forty gold project in the Upper Peninsula of Michigan, USA, which builds on its 2018 openpit feasibility study with an underground mineral resource.

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Back Forty in Michigan, USA

The study outlines a 2,800 tonnes per day operation to produce 128,000 ounces of gold-equivalent a year for 12 years.

The project would yield an after-tax net present value of US$176.