TOWN OF EASTON, Wis. (AP) -- A Michigan company is prospecting for gold in central and northern Wisconsin.
Aquila Resources Inc. says its strongest site is a spot in Marathon County known as the "Reef" that has proven gold reserves. Aquila says recent drilling in the Reef east of Wausau supports findings from the 1970s that the spot holds 119,000 ounces of gold, worth about $200 million at today's prices. Aquila says the site also holds promise for additional gold. Company president Thomas Quigley tells the Journal Sentinel that it's too early to say whether Aquila will begin the regulatory process to mine gold, a process that could take years.
Aquila has also received an exploration license to begin looking for gold this winter in the Chequamegon Nicolet National Forest, northwest of Medford.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com
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