VANCOUVER, BC, Jan. 11, 2022 /PRNewswire/ - Trilogy
Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or
the "Company") is pleased to announce that Ambler Metals LLC
("Ambler Metals"), the joint venture operating company equally
owned by Trilogy and a wholly-owned subsidiary of South32 Limited
(ASX: S32) (LSE: S32) (JSE: S32) (ADR: SOUHY)
("South32"), has approved the 2022 program and budget of
approximately $28.5 million for the
advancement of the Upper Kobuk Mineral Projects ("UKMP") located in
Northwestern Alaska. The budget is
100% funded by Ambler Metals and was confirmed by the NANA/Ambler
Metals Oversight committee. All amounts are in US dollars.
Highlights of the Approved 2022 Program
- Approximately $28.5 million
budget fully funded by Ambler Metals
- Up to 10,000 meters to be allocated between resource
development drilling at the Arctic Project and priority drill-ready
exploration targets in the district
- Engineering studies advancing the Arctic Project
- Submission of the Federal 404 permit application in early
2022
Proposed 2022 Arctic and UKMP Drilling Program
A two-day technical review of the 2021 exploration program,
involving geologists from Trilogy, South32 and Ambler Metals, was
held in Fairbanks, Alaska on
December 8 and 9, 2021. Ambler Metals
presented technical results received to date and a preliminary
outline of the 2022 exploration program. A full technical review of
the 2021 exploration results and ranking of drill targets and
target areas for the 2022 field season will be held in early 2022
once all assay results have been received, compiled, and
interpreted.
The 2022 budget for Ambler Metals, approved by the owners,
Trilogy and South32, will cover up to 10,000 meters of
helicopter-supported diamond drilling that is expected to commence
in early June. The meterage will be divided between resource
development drilling at Arctic and scout drilling of both
Volcanogenic Massive Sulphide ("VMS") targets in the Ambler Belt,
with a focus on targets near Arctic, and Carbonate-Hosted Copper
targets around Bornite and the Cosmos Hills. A greater effort on
the ground to identify and evaluate new targets for drilling,
including the use of ground and down-hole electro-magnetic
(EM) surveys, is planned.
Arctic Permitting
An independent consulting company has completed a preparedness
review of the draft permitting package for the Arctic Project and
presented the results of this review to the technical teams of
South32 and Trilogy. The review concluded that the Ambler Metals
permitting strategy is sound and the permitting package can proceed
with minor changes. Ambler Metals is now making the recommended
changes to the permitting package and expects to file the
permitting application, which will start the formal permitting
process for the Arctic Project, with the United States Army Corps.
of Engineers ("USACE") in early 2022.
Given that the Arctic Project is located on state and private
land, the key federal permit will be the 404 Dredge or Fill Permit
that is issued by the USACE, the lead agency during the federal
permitting process. The permitting process will be carried out in
accordance with the National Environmental Policy Act. In parallel
with the federal permitting process, the State of Alaska, specifically the Alaska
Department of Environmental Conservation, Alaska Department of
Natural Resources and Alaska Department of Fish and Game, will be
the state agencies responsible for issuing the state permits which
include the Mine Operating Permit, the Air Quality Permit, the Dam
Construction and Operating Permits, and the Water Discharge Permit.
There will also be other permits issued by the Northwest Arctic
Borough. The Company expects to file the permit application during
the first quarter of 2022, and for the overall permitting process
to take 24 to 30 months to be completed.
More details on the proposed 2022 program and Arctic permitting
timeline will be made public in early 2022.
Tony Giardini, President and CEO
of Trilogy, commented, "We are pleased that we are continuing to
make progress on de-risking the Arctic Project and that we are now
very close to commencing the formal permitting activities. Senior
management at Trilogy Metals is working very closely with
representatives from South32 and Ambler Metals in devising a 2022
program that will greatly assist in moving the Arctic Project
forward and to continue to add value through the drill bit. We
believe that 2022 will be another significant year for the
Company."
Qualified Persons
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 in this news release and approves the
disclosure contained herein.
About Trilogy Metals
Trilogy Metals Inc. is a metal exploration and development
company which holds a 50 percent interest in Ambler Metals LLC
which has a 100 percent interest in the Upper Kobuk Mineral
Projects ("UKMP") in Northwestern
Alaska. On December 19, 2019,
South32, a globally diversified mining and metals company,
exercised its option to form a 50/50 joint venture with Trilogy.
The UKMP is located within the Ambler Mining District which is one
of the richest and most-prospective known copper-dominant districts
located in one of the safest geopolitical jurisdictions in the
world. It hosts world-class polymetallic VMS deposits that contain
copper, zinc, lead, gold and silver, and carbonate replacement
deposits which have been found to host high-grade copper and cobalt
mineralization. Exploration efforts have been focused on two
deposits in the Ambler Mining District – the Arctic VMS deposit and
the Bornite carbonate replacement deposit. Both deposits are
located within a land package that spans approximately 181,387
hectares. Ambler Metals has an agreement with NANA Regional
Corporation, Inc., an Alaska Native Corporation that provides a
framework for the 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
premier North American copper producer.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States
securities legislation 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 the planned expenditures
and the anticipated drilling, survey and other activity at the
Company's properties and the timing and objectives thereof, the
timing of submission and granting of permits, the Company's ability
to de-risk the Arctic Project and unlock the mineral potential of
the VMS Mineral Belt and the Company's future performance are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "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 the
uncertainties involving success of exploration activities,
permitting timelines, requirements for additional capital,
government regulation of mining operations, environmental
risks, prices for energy inputs, labour, materials, supplies
and services, uncertainties involved in the interpretation of
drilling results and geological tests, 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 with 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 on the date the statements are
made. The Company assumes no obligation to update the
forward-looking statements or beliefs, opinions, projections, or
other factors, should they change, except as required by
law.
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SOURCE Trilogy Metals Inc.