Aquila Resources Inc. Non Ferrous Mineral Potential of the Penokean Volcanic Belt Tom Quigley Aquila Resources Inc. Zinc rich massive sulfide – Back Forty Penokean volcanic Belt with mineral deposits and occurrences Gold rich quartz float – Reef Project Aquila Resources Inc. Paleoproterozoic Island Arc volcanic – sedimentary sequences shown in blue. These sequences formed in 1900 my old oceans marginal to older Archean cratons. These Paleoproterozoic sequences contain both a volcanic, Island Arc assemblage as well as a marginal basin sedimentary sequence (yellow) and were accreted to the Archean margins during the Penokean Orogeny Basement Terrains Aquila Bedrock Geology Resources Inc. Flin Flon Belt Paleoproterozoic Archean Superior Province Paleozoic Sediments Island Arc assemblages contain volcanogenic massive sulfide (VMS) and related mineral deposits and are important sources of base metals Cu, Zn, Pb, precious metals Au and Ag. Back Forty Penokean Volcanic Belt Paleoproterozoic Aquila Resources Inc. Bedrock Geology – Superior Province Penokean Marginal Basin Sedimentary Assemblages Upper Peninsula Of Michigan Back Forty Penokean Volcanic Belt Island Arc Assemblage – Pembine Wausau Terrain Lower Michigan •VMS – Volcanogenic Massive Sulfide •Sulfide rich deposits containing copper, zinc, lead, gold and silver deposited by black smoker activity •Formed in submarine environments by hydrothermal solutions related to volcanic activity related to both convergent and divergent (spreading) plate boundaries. •In the Penokean Volcanic Belt VMS deposits are related to a 1875 Ma Island Arc environment that developed from converging oceanic plates marginal to the Superior Craton Aquila Resources Inc. Plate Boundaries and Known Sea Floor Massive Sulfide Sites What is an Island Arc? VMS Deposit Modified from Stern, 2002 Aquila Resources Inc. Plate Boundaries and Known Sea Floor Massive Sulfide Sites Aquila Resources Inc. Nautilus Minerals exploring the sea floor for massive sulfide deposits in the Manus back arc basin. Aquila Resources Inc. The resource was defined by EM surveys, 111 drill holes and numerous surface samples Mineral resource estimate (43-101) for the Solwara 1 deposit Aquila Resources Inc. Plan view electromagnetic response. Circles are samples of black smoker chimneys Electromagnetic Response over topography Conductivity Images Solwara 1 From: Schulz K.J., Cannon W. F. 2007, The Penokean orogeny in the Lake superior region Aquila Resources Inc. Modified from: Schulz K.J., Cannon W. F. 2007, The Penokean orogeny in the Lake superior region Aquila Resources Inc. Bedrock Geology – Penokean Volcanic Belt Lynne Crandon Back Forty Flambeau Bend Major VMS Deposits in Penokean Volcanic Belt Crandon 67 million tons 5.6% Zn, 1.04% Cu, 1.1 g/t Au, 39 g/t Ag* Lynne 5.6 million tons 9.27% Zn, .47% Cu, .7 g/t Au, 74 g/t Ag* Flambeau 5.8 million tons 4.0% Cu, 1.7 g/t Au, 31 g/t Ag* 1.9 million tons 10.5% Cu, 3.4 g/t Au, 69 g/t Ag (mined) Bend 3.5 million tonnes 1.9% Cu, 2.8 g/t Au, 12 g/t Ag* Back Forty Toronto Exchange: AQA 18.8 million tonnes 2.8% Zn, 1.9g/t OTCQX: AQRF Au, 24 g/t Ag, 0.3 % Cu *Historic Resources – Not 43-101 Compliant Frankfurt Exchange: Aquila Resources Inc. Modified from: Schulz K.J., Cannon W. F. 2007, The Penokean orogeny in the Lake superior region Sulfide Ores – Plan View Sulfide Ores – Section View 200 m 200 m All Massive Sulfides TONNES AU ppm 9,888,827 1.80 AG ppm 24.11 CU % 0.48 PB % 0.23 ZN % 4.68 NSR $/T $119.32 TONNES AU ppm 6,436,152 1.39 AG ppm 15.60 CU % 0.15 PB % 0.22 ZN % 0.86 NSR $/T $51.16 All Stringers Back Forty consists of massive sulfides and associated stringer and disseminated sulfides as well as separate zones of low sulfide, gold and silver ores Gold Ores – Plan View Gold Ores – Section View 200 m All Gold Zones and Gossans TONNES AU ppm AG ppm CU % PB % ZN % NSR $/T 2,213,684 3.98 43.76 0.11 0.27 0.25 $171.92 Gold ores are associated with altered rhyolites, siliceous sediments, younger QFP’s, and gossans developed from weathered massive sulfides Aquila Resources Inc. Back Forty Block Model Pit Shell #32 (brown) and Underground Development (blue) from 2014 PEA 2014 PEA Open Pit Resource (diluted) 12,256,000 tonnes M+I 244,000 tonnes inferred 2014 PEA Underground Resource (diluted and extracted) 2,734,002 tonnes (M +I) Approx. 200 meters 911,334 tonnes (Inferred) 22 Aquila Stratigraphy and Rock Types – Back Forty Project Resources Inc. Rhyolite 3 Quartz Feldspar Porphyry Tuff Zone Massive Sulfide Siliceous Sediments QFP Rhyolite 2 Main Zone and Pinwheel Zone Massive Sulfides Altered Rhyolite Rhyolite 1 Deep Zone Massive Sulfide Rhyolite 0 Rhyolite Fragmental Thick section (> 4000 ft.) of highly altered (quartz, sericite, pyrite) rhyolites and associated pyroclastic rocks and sliceous, exhalative sediments cut by numerous dikes and sills of quartz feldspar porphyry of dacitic to andesitic composition. Within the drilled section there are two and possibly three horizons of massive sulfide surrounded by fracture controlled stringer sulfide mineralization. Aquila Resources Inc. Host Rocks – Back Forty Project Rhyolite 3 Rhyolite 2 Rhyolite 1 Aquila Resources Inc. Conceptual Model for the Genesis of the Back Forty Deposit 1875 million years ago Tuffaceous Sediments VMS MASU (Deep Zone) Tuffaceous Sediments Black Smokers Structurally controlled hydrothermal corridor R0 Aquila Resources Inc. Deposition of Rhyolite 1 and prolonged hydrothermal activity with synvolcanic faults. Replacement-style VMS mineralization continues at Deep Zone massive sulfide, and Main Zone and Pinwheel Zone massive sulfides form on R1 sea floor. Black Smokers VMS MASU (Main Zone) deposition of exhalative massive sulfides VMS MASU (Deep Zone) growth due to replacement style mineralization VMS MASU (Pinwheel) deposition of exhalative massive sulfides Propagation of hydrothermal system along faults and fractures R1 Aquila Resources Inc. Deposition of Rhyolite 2 capped by tuffaceous sediments. Tuff Zone massive sulfide forms at or near contact in more permeable units/beds within sediment package. Tuffaceous sediments Tuff Zone Massive Sulfide Sp+Gn ? R2 Development of lateral disseminated and stringer sulfides in R2 py+sp+gn Pinwheel Zone Massive Sulfide py+cpy+/-sp Main Zone Massive Sulfide py+sp+cpy R2 Stringer Sulfides (Main/Deep) py+cpy+/-sp Deep Zone Massive Sulfide py+cpy/sp R1 Emplacement of Quartz-Feldspar Porphyritic (QFP) dikes/sills. Main QFP emplaced along structures controlling VMS hydrothermal corridor. Remobilization of precious metals associated with dike emplacement due to hydrothermal activity associated with dikes creating precious metal zones. Aquila Resources Inc. Main QFP Precious Metal Zones Unknown Rock type Probably more rhyolite Tuffaceous sediments R2 R2 R1 Aquila Resources Inc. Intrusion of Rhyolite 3, folding, uplift and erosion, exposure of massive sulfides at surface and gossan development Tuff Zone Massive Sulfide Sp+Gn Pinwheel Zone Gossan Tuff Zone massive sulfideMain QFP Pinwheel Zone Pinwheel massiveMassive Sulfide py+cpy+/-sp sulfide and gossan Precious Metal Zones R3 R3 Rhyolite 2Stringers py+sp+/-gn Main/Deep Stringers R2.1 py+cpy+/-sp R2 Main Zone Main Zone Massive Sulfide Massive Sulfide py+sp+cpy py+sp+cpy Deep Zone Massive Sulfide py+cpy/sp R0 R2 R1 Aquila Resources Inc. Bedrock Geology – Penokean Volcanic Belt Lynne Crandon Flambeau Bend Reef Back Forty Aquila Resources Inc. Plan View – Crandon Deposit The Crandon VMS deposit is a zinc rich massive sulfide with a total resource of about 60 million tons of about 1% Cu and 5% Zn*. Strataform Zn ore (30 million tons of 9.4% Zn) is underlain by copper rich stringer ore. The deposit is nearly 1 mile in strike length and has been drilled to a depth of about 2500 ft. From: LaBerge, G. L., Ed., 1996, Volcanogenic massive sulfide deposits of northern Wisconsin: A commemorative volume: Institute on Lake Superior Geology Proceedings, 42nd Annual Meeting, Cable, WI, v. 42, part 2, 179 p. *Historic Resource – not 43-101 compliant Aquila Resources Inc. From: LaBerge, G. L., Ed., 1996, Volcanogenic massive sulfide deposits of northern Wisconsin: A commemorative volume: Institute on Lake Superior Geology Proceedings, 42nd Annual Meeting, Cable, WI, v. 42, part 2, 179 p. Aquila Lynne Deposit 5.6 million tons 9.27% Zn, .47% Cu, .7 g/t Au, 74 g/t Ag* Resources Inc. From: LaBerge, G. L., Ed., 1996, Volcanogenic massive sulfide deposits of northern Wisconsin: A commemorative volume: Institute on Lake Superior Geology Proceedings, 42nd Annual Meeting, Cable, WI, v. 42, part 2, 179 p. *Historic Resource – not 43-101 compliant Aquila Bend Deposit Resources Inc. 3.5 million tonnes 1.9% Cu, 2.8 g/t Au, 12 g/t Ag* 67 m 2.8 g/t Au, 1.19% Cu 23 m 6.4 g/t Au, 2.1% Cu 75m 1.04 g/t Au 63m 1.3 g/t Au, 0.75% Cu 5.5m 0.84 g/t Au, 3.88% Cu Modified From: LaBerge, G. L., Ed., 1996, Volcanogenic massive sulfide deposits of northern Wisconsin: A commemorative volume: Institute on Lake Superior Geology Proceedings, 42nd Annual Meeting, Cable, WI, v. 42, part 2, 179 p. *Historic Resource – not 43-101 compliant Aquila Resources Inc. Flambeau 5.8 million tons 4.0% Cu, 1.7 g/t Au, 31 g/t Ag* 1.9 million tons 10.5% Cu, 3.4 g/t Au, 69 g/t Ag (mined) *Historic Resource – not 43-101 compliant Aquila Resources Inc. Cross section of the Flambeau deposit. The gold rich gossan and underlying supergene enriched copper ores were mined from an open pit 1.9 million tons 10.5% Cu, 3.4 g/t Au, 69 g/t Ag Gold Rich Gossan Supergene Enriched Copper Ore Primary Massive Sulfide From: LaBerge, G. L., Ed., 1996, Volcanogenic massive sulfide deposits of northern Wisconsin: A commemorative volume: Institute on Lake Superior Geology Proceedings, 42nd Annual Meeting, Cable, WI, v. 42, part 2, 179 p. Aquila Resources Inc. Reef Project Regional Geology Granite Wolf River Batholith Reef Project Gabbro Mafic Volcanics Aquila Resources Inc. Aquila Resources Inc. Reef Project Cross Section Reef: Au mineralization In 2012, 42 drill holes, 4400 meters were completed, targeting expansions of historic intercepts and evaluating lower grade disseminated mineralization 65 m 2.8 g/t Au 95 m 1.5 g/t Au 15 m 14.6 g/t Au Footwall Gabbro Cross Section Looking South TSX: AQA OTCQX: AQARF FKT: JM4A Aquila Resources Inc. Potential for other metals: Based on metal occurrences and mines in the Paleoproterozoic Fennoscania Island Arc terrains, there could be similar potential in the Penokean Volcanic Belt •Orogenic gold •Ni, Cu, PGE in mafic – ultramafic intrusions •Special metals: Li, Be, Mo, Nb, REE •Uranium Aquila Resources Inc. Bedrock Geology – Wisconsin 1965 Aquila Resources Inc. Resources and Reserves – Early Proterozoic Volcanic Belts Back Forty Penokean Volcanic Belt ranks 2nd in contained resources amongst Early Proterozoic volcanic belts in spite of only a short history of exploration, and almost no history of mining and resource growth associated with development. Flin Flon VMS Deposits Growth of mineral deposits after initial discovery and development ∕∕ Flin Flon Trout Lake 777 Lalor Stall Lake Chisel U/G Callinan Chisel Osborne Anderson Konuto Spruce Schist Lake Centennial Westarm 62.5 Initial resource Coronation White Lake Dickstone Rod Photo Added resource The mineral resource estimate for Lalor is made up of 13.3 million tonnes of indicated resources and 10.2 million tonnes of inferred mineral resources, not including 6.9 – 8.3 million tonnes of conceptual estimates. Cuprus Flexar Birch Lake North Star Mandy 0 5 10 15 Tonnes (millions) 20 25 30
© Copyright 2026 Paperzz