Trilogy Metals (TSX, NYSE-MKT: TMQ) (“Trilogy Metals” or “the Company”) is pleased to announce that it intends to undertake a pre-feasibility study (“PFS”) on the high-grade Arctic deposit located in northwest Alaska. The PFS will be supported by information collected during the 2015 and 2016 field seasons as well as additional information to be collected during the 2017 summer field program. A budget totaling $7.1 million for fiscal 2017 has received board approval, and will focus mainly on the Arctic Project PFS with an anticipated completion date of Q1 2018. The Arctic Project is a very high-grade polymetallic volcanogenic massive sulphide (“VMS”) deposit, hosting copper-zinc-lead-gold-silver mineralization with an average grade of 6% copper equivalent which has the potential to be mined in an open-pit.
As quoted in the press release:
Rick Van Nieuwenhuyse, President and CEO of Trilogy Metals commented, “We are pleased to have received board approval for the 2017 plan and budget to complete a PFS on Arctic. The PFS will demonstrate the true value of the high-grade Arctic deposit which we expect will be the first in a series of potential mines in the Ambler mining district. With the recent announcement that the BLM has initiated the permitting process on the AMDIAP, as well as an upswing in demand for copper and zinc, the Company is well positioned to add value for shareholders by advancing development of the world-class Ambler mining district.”