Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), which recently changed its name from NovaCopper Inc., is a naturally diversified mineral exploration company focused on the Ambler mining district in northwestern Alaska. Ambler ranks as one of the richest and most prospective districts for the discovery of world class polymetallic volcanogenic massive sulphide (VMS) deposits that contain copper, zinc, lead, gold and silver as well as carbonate replacement deposits with high grade copper mineralization.
Exploration efforts have focused on two deposits in the Ambler district – the Arctic VMS deposit, and 20 miles further south, the Bornite carbonate replacement deposit. Both are located within Trilogy’s land package, which covers 143,000 hectares.
The most advanced project is Arctic, a high-grade polymetallic VMS deposit – with an average grade of 6 percent copper equivalent, containing two billion pounds of copper, 2.5 billion pounds of zinc, nearly 0.5 billion pounds of lead as well as significant amounts of precious metals.
The Bornite deposit is an early stage exploration target consisting of a copper-rich carbonate replacement deposit containing 2.3 billion pounds of copper averaging 1 percent in a potential open pit mining scenario and a further 3.4 billion pounds of potentially underground mineable copper averaging 2.8 percent copper. The resource is open along a one kilometre wide continuous zone of high-grade mineralization, open to the north.
Trilogy has an agreement with NANA Regional Corp., a regional Alaska Native Corporation, and owner of the giant Red Dog zinc-lead silver mine operated by Teck Resources, which has been in operation for 26 years (NANA knows and understands mining – and they appreciate the wealth it has created for their region). The mining and lease agreement provides a framework for the exploration and potential development of the Ambler district in cooperation with local communities. The company’s goal is to develop the Ambler mining district into a premier North American copper producer. Trilogy’s management team has a strong track record of exploration success, improving resources and building shareholder value by advancing projects towards production.
- District mining play with over 30 recognized VMS deposits and 6 carbonate replacement deposits.
- Sufficient working capital position to last until the end of 2017 with US$10 million in cash.
- Actively engaged in exploring for and developing a wide range of metals including copper, lead and zinc.
- Large property position in a safe mining jurisdiction, hosting some of the world’s richest known copper-dominant polymetallic deposits.
- Flagship property hosts a mineral resource with a 6 percent copper equivalent grade, ranking as one of the largest and highest grade known VMS deposits of its kind in the world.
- 30 polymetallic prospects identified in the same mineral belt. Drilling in 10 of those prospects has identified mineralization.
- Recently announced a 173 percent increase in contained copper in the indicated resource at the Bornite deposit.
- Strong community relationships, including a close partnership with NANA, a regional Alaska Native Corporation.
- Highly experienced management team, with a track record of major discoveries and project development.