Trilogy Metals announces 2022 schedule and budget for Upper Kobuk mining projects and provides update on Arctic permits
VANCOUVER, BC, January 11, 2022 / CNW / – Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) (“Trilogy” or the “Company”) is pleased to announce that Ambler Metals LLC (“Ambler Metals”), the operating joint venture equally owned by Trilogy and a wholly owned subsidiary of South32 Limited (ASX: S32) (LSE: S32) (JSE: S32) (ADR: SOUHY) (“South32”), approved the 2022 program and budget of approximately $ 28.5 million for the advancement of Upper Kobuk (“UKMP”) mining projects located at Northwest Alaska. The budget is 100% funded by Ambler Metals and has been confirmed by the NANA / Ambler Metals oversight committee. All amounts are in US dollars.
Highlights of the 2022 approved program
About $ 28.5 million budget fully funded by Ambler Metals
Up to 10,000 meters to be split between resource development drilling at the Arctic project and priority exploration targets ready for drilling in the district
Engineering studies advancing the Arctic project
Filing of the Federal 404 permit application in early 2022
Arctic and UKMP drilling program proposed in 2022
A two-day technical review of the 2021 exploration program, involving geologists from Trilogy, South32 and Ambler Metals, took place at Fairbanks, Alaska to December 8 and 9, 2021. Ambler Metals presented the technical results received to date and a preliminary outline of the 2022 exploration program. A comprehensive technical review of the 2021 exploration results and the ranking of drill targets and target areas for The 2022 field season will take place in early 2022 once all test results have been received, compiled and interpreted.
The 2022 budget for Ambler Metals, approved by owners, Trilogy and South32, will cover up to 10,000 meters of helicopter-borne diamond drilling scheduled to begin in early June. Footage will be split between Arctic resource development drilling and reconnaissance drilling for the two volcanic massive sulphide (“VMS”) targets in the Ambler Belt, with a focus on targets near the Ambler Belt. ‘Arctic, and the carbonate-coated copper targets around Bornite and the Cosmos Hills. . An increased field effort to identify and assess new drill targets, including the use of ground and downhole electromagnetic (EM) surveys, is planned.
An independent consulting firm completed a review of the preparation of the draft license dossier for the Arctic project and presented the results of this review to the technical teams at South32 and Trilogy. The review concluded that Ambler Metals’ licensing strategy is sound and that the license package can proceed with minor modifications. Ambler Metals is now making the recommended changes to the permit dossier and plans to file the permit application, which will initiate the official authorization process for the Arctic Project, with the United States Army Corps. engineers (“USACE”) in early 2022.
Since the Arctic Project is located on public and private land, the primary federal permit will be the 404 Dredging or Backfill Permit issued by USACE, the lead agency during the federal clearance process. The licensing process will be carried out in accordance with the National Environmental Policy Law. Along with the federal authorization process, the State of Alaska, specifically the Alaska Department of Environmental Conservation, the Alaska Department of Natural Resources, and the Alaska Department of Fish and Game, will be the state agencies responsible for issuing the state permits which include mine operating permit, air quality permit, dam construction and operation. Permit, and the Water Discharge Permit. Other permits will also be issued by the North West Arctic Borough. The Company expects to file the permit application in the first quarter of 2022, and the overall permit process is expected to take 24 to 30 months.
More details on the proposed 2022 program and the schedule for obtaining Arctic permits will be made public in early 2022.
Tony Giardini, President and CEO of Trilogy, commented, “We are delighted to continue to make progress in reducing the risk of the Arctic project and that we are now very close to starting formal authorization activities. Senior management at Trilogy Metals are working closely with representatives from South32 and Ambler Metals to design a 2022 program that will greatly help move the Arctic project forward and continue to add value with the drill bit. We believe 2022 will be another important year for the company. “
Richard Gosse, vice-president exploration for Trilogy, is a qualified person as defined by National Instrument 43-101. Mr. Gosse has reviewed the scientific and technical information contained in this press release and agrees with the disclosure it contains.
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration and development company which owns a 50 percent interest in Ambler Metals LLC which owns a 100 percent interest in the Upper Kobuk (“UKMP”) mining projects in Northwest Alaska. At December 19, 2019, South32, a globally diversified mining and metallurgical company, has exercised its option to form a 50/50 joint venture with Trilogy. UKMP is located in the Ambler Mining District, one of the richest and most promising copper-dominated districts, located in one of the most secure geopolitical jurisdictions in the world. It is home to world-class polymetallic VMS deposits that contain copper, zinc, lead, gold and silver, and alternate carbonate deposits that harbor high-grade copper and cobalt mineralization . Exploration efforts have focused on two deposits in the Ambler mining district: the Arctic VMS deposit and the replacement Bornite carbonate deposit. The two deposits are located in a set of land that covers approximately 181,387 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaskan Indigenous company that provides a framework for exploration and potential development of the Ambler mining district in cooperation with local communities. Trilogy’s vision is to develop the Ambler mining district into a leading copper producer in North America.
Caution regarding forward-looking statements
This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of Canadian laws and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to expected expenses and drilling, surveying and other activities planned on the Company’s premises. properties and timing and objectives thereof, timing of submission and licensing, the Company’s ability to reduce the risks of the Arctic Project and unlock the mineral potential of the VMS mineral belt and future performance of the Company are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “believes”, “possible”, “possible” and similar expressions or statements that events, conditions or results “shall”, “may”, “could” or “should” occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties regarding the success of exploration activities, authorization timelines, additional capital requirements, government regulation of mining operations, environmental risks, prices of energy inputs, labor, materials, supplies and services, uncertainties associated with the interpretation of drilling and geological test results, unexpected cost increases and other risks and uncertainties disclosed in the Company’s annual report on Form 10-K for the year ended November 30, 2020 filed with Canadian securities regulatory authorities and the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company’s forward-looking statements reflect the beliefs, opinions and projections as of the date on which the statements are made. The Company assumes no obligation to update any forward-looking statements or beliefs, opinions, projections or other factors, if they change, except as required by law.
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SOURCE Trilogy Metals Inc.
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