Copper

Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce the fifth and final set of infill drilling results from the 2021 summer field season at the Arctic Project, part of the Upper Kobuk Mineral Projects ("UKMP") located in Northwestern Alaska managed by Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by wholly owned subsidiaries of Trilogy and South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32").

The 2021 Arctic drill program included 4,131 meters of diamond drilling, comprising 18 holes, that were designed to convert part of the resources from the Indicated category to the Measured category, and provide material for metallurgical testing and geotechnical information. The assay results detailed here are for the remaining nine infill/metallurgical drill holes from the 2021 summer field season.

Significant highlights from the remaining nine drill holes from the 2021 Arctic program

Based on a cut-off grade of 0.5% copper equivalent, significant zones of high-grade copper, zinc, lead, gold, and silver mineralization were intersected, including:

  • Hole AR21-0190 intersected six mineralized intervals, including
    • 19.50 meters of 4.75% copper, 7.83% zinc, 2.04% lead, 1.12 g/t gold and 87.93 g/t silver for a copper equivalent grade of 9.81%;
    • 13.89 meters of 3.46% copper, 2.86% zinc, 0.10% lead, 0.26 g/t gold and 25.65 g/t silver for a copper equivalent grade of 4.94%; and
    • 2.08 meters of 10.18% copper, 9.46% zinc, 1.53% lead, 4.51 g/t gold and 138.92 g/t silver for a copper equivalent grade of 18.26%.

  • Hole AR21-0189 intersected two mineralized intervals, including 10.42 meters of 6.78% copper, 13.14% zinc, 2.36% lead, 0.42 g/t gold and 102.65 g/t silver for a copper equivalent grade of 13.58% .

  • Hole AR21-0187 intersected three mineralized intervals, including 6.83 meters of 6.57% copper, 9.69% zinc, 1.58% lead, 0.78 g/t gold and 86.95 g/t silver for a copper equivalent grade of 11.93% .

  • Hole AR21-0186 intersected seven mineralized intervals, including
    • 21.18 meters of 2.74% copper, 3.45% zinc, 0.89% lead, 0.88 g/t gold and 45.02 g/t silver for a copper equivalent grade of 5.26%;
    • 10.07 meters of 3.53% copper, 2.31% zinc, 0.38% lead, 0.59 g/t gold and 59.40 g/t silver for a copper equivalent grade of 5.41%; and
    • 6.68 meters of 3.18% copper, 3.24% zinc, 0.78% lead, 0.65 g/t gold and 68.99 g/t silver for a copper equivalent grade of 5.66%.

  • Hole AR21-0183 intersected three mineralized intervals, including 7.10 meters of 7.10% copper, 6.51% zinc, 0.38% lead, 0.19 g/t gold and 54.97 g/t silver for a copper equivalent grade of 10.23%.

  • Hole AR21-0180 intersected eight mineralized intervals, including
    • 8.90 meters of 2.20% copper, 2.55% zinc, 0.46% lead, 0.39 g/t gold and 34.61 g/t silver for a copper equivalent grade of 3.84%; and
    • 7.07 meters of 2.38% copper, 1.27% zinc, 0.24% lead, 0.09 g/t gold and 18.28 g/t silver for a copper equivalent grade of 3.15%.

  • Hole AR21-0178 intersected six mineralized intervals, including 4.60 meters of 3.53% copper, 1.37% zinc, 0.10% lead, 0.13 g/t gold and 18.33 g/t silver for a copper equivalent grade of 4.31%.

  • Hole AR21-0185 intersected four mineralized intervals, including 7.47 meters of 4.28% copper, 6.71% zinc, 1.26% lead, 0.37 g/t gold and 58.17 g/t silver for a copper equivalent grade of 7.92% .

  • Assay results for the first 176.94 meters from drill hole AR21-0176 were made public on November 29, 2022 . The remaining assay results for this hole include 12.41 meters of 2.88% copper, 3.29% zinc, 0.88% lead, 0.61 g/t gold and 53.96 g/t silver for a copper equivalent grade of 5.25% .

All reported intervals are thought to be close to the true width and therefore represent the actual thickness of mineralization.

Tony Giardini , President and CEO of Trilogy, commented, "These latest drilling results serve to reinforce that the Arctic deposit is truly unique given the very high grades and consistency of mineralization within the metalliferous horizons. All nine holes in this press release have exceptional high grades of not only copper but also zinc, lead, silver and gold. The polymetallic nature of the Arctic deposit, and the exploration upside in the surrounding 181,000-hectare land package, truly makes this an exceptional project which, we believe, has the potential to play a significant role in supplying the United States economy with a domestic stable, environmentally safe supply of critical and green metals for many years."

Richard Gosse , Trilogy's Vice President, Exploration stated, "Yet another set of impressive drill intersections from Arctic – the last of the assays from the 2021 infill/geotechnical drill program. Besides providing important geotechnical data and increasing the certainty of future resource estimates, the 2021 drill program at Arctic found mineralization extending beyond the pit boundary used in the 2020 Arctic Feasibility Study, and from an exploration perspective, shows Zones 3, 4 and 5 are open at shallower depths to the north."

On November 22, 2021 , the Company released the assay results for two geotechnical drill holes AR21-0173 and AR21-0175 that intersected high-grade mineralization beyond the currently designed pit at Arctic. Subsequently on November 29, 2021 , the Company released additional drilling results from two infill/metallurgical holes drilled early in the 2021 field season. Of note is drill hole AR21-0176 which intersected 19.91 meters of almost 12% copper equivalent. On January 25, 2022 , the Company released the results for two additional metallurgical/infill drill holes from Arctic and on March 17, 2022 , the Company released the results for an additional four infill holes at Arctic. For more information on these drilling results, please visit the Company's website at https://trilogymetals.com/news-and-media/news/ .

These latest drilling results from the 2021 program contain mineralized intervals consistent with previous drilling conducted within the resource area on the property. Significant mineralized intervals of high-grade mineralization at a cut-off of 0.5% copper equivalent are reported in Table 1 . The locations of the holes are shown in Figure 1 and Table 2 .

Of the 18 holes drilled at Arctic last summer, eight holes were for the geotechnical program. The 10 remaining drill holes were part of the infill/metallurgical program, with three of the 10 drill holes also being used for the hydrology program.

Table 1. Drill Intercepts from the 2021 Arctic Infill Drilling Program

Hole

From (m)

To (m)

Length (m)

CuEq (%)

Cu (%)

Zn (%)

Pb (%)

Ag (g/t)

Au (g/t)

Zone

AR21-0176

Composites reported previously on November 29, 2021

184.49

196.90

12.41

5.25

2.88

3.29

0.88

53.96

0.61

Zone 1

AR21-0178

139.77

141.16

1.39

0.73

0.35

0.48

0.13

15.65

0.04

Zone 5

147.96

149.82

1.86

0.72

0.06

0.04

0.39

18.35

0.56

Zone 4

176.70

181.30

4.60

4.31

3.53

1.37

0.10

18.33

0.13

Zone 3

199.53

199.83

0.30

11.14

6.23

9.36

1.11

89.40

0.48

Zone 2.5

210.55

215.70

5.15

1.08

0.90

0.21

0.02

5.91

0.08

Zone 1

236.50

247.47

10.97

1.27

0.93

0.36

0.06

9.16

0.17

Zone 1a

AR21-0180

131.46

133.96

2.50

1.08

0.69

0.45

0.10

10.70

0.14

Zone 7a

145.32

154.22

8.90

3.84

2.20

2.55

0.46

34.61

0.39

Zone 5

156.77

157.45

0.68

2.00

0.67

2.01

0.32

24.50

0.42

Zone 4

164.99

172.06

7.07

3.15

2.38

1.27

0.24

18.28

0.09

Zone 3

172.82

174.16

1.34

2.84

1.83

1.90

0.25

20.56

0.07

Zone 3

220.27

221.84

1.57

1.58

1.34

0.17

0.02

10.50

0.12

Zone 2

240.87

242.06

1.19

1.11

1.01

0.03

0.00

4.97

0.06

Zone 1

249.17

253.91

4.74

0.83

0.70

0.14

0.00

5.41

0.05

Zone 1a

AR21-0183

183.09

187.41

4.32

1.50

0.46

1.33

0.47

26.40

0.25

Zone 4

197.58

197.98

0.40

4.14

3.15

1.22

0.48

25.20

0.25

Zone 3

200.90

208.00

7.10

10.23

7.10

6.51

0.38

54.97

0.19

Zone 3

AR21-0185

121.84

129.31

7.47

7.92

4.28

6.71

1.26

58.17

0.37

Zone 5

148.30

150.78

2.48

0.80

0.72

0.01

0.00

7.24

0.02

Zone 3

155.52

157.45

1.93

1.95

1.83

0.04

0.01

7.47

0.07

Zone 3

169.78

170.15

0.37

0.50

0.16

0.55

0.16

7.41

0.03

Zone 3

AR21-0186

109.41

119.48

10.07

5.41

3.53

2.31

0.38

59.40

0.59

Zone 5

124.69

145.87

21.18

5.26

2.74

3.45

0.89

45.02

0.88

Zone 4

153.94

157.48

3.54

6.72

0.82

7.43

3.08

121.42

1.66

Zone 4

160.23

160.53

0.30

5.39

2.58

5.98

0.81

32.40

0.09

Unknown

170.90

173.25

2.35

3.56

2.81

1.19

0.12

20.36

0.13

Zone 3

177.94

182.53

4.59

5.34

1.68

7.89

1.13

37.45

0.08

Zone 2.5

193.57

200.25

6.68

5.66

3.18

3.24

0.78

68.99

0.65

Zone 1

AR21-0187

71.22

73.22

2.00

1.64

0.29

0.26

0.10

10.30

1.78

Zone 7b

84.00

90.83

6.83

11.93

6.57

9.69

1.58

86.95

0.78

Zone 5

123.19

124.50

1.31

8.30

6.18

4.12

0.47

42.75

0.10

Zone 4

AR21-0189

51.64

62.06

10.42

13.58

6.78

13.14

2.36

102.65

0.42

Zone 5

428.85

429.25

0.40

2.17

0.44

4.52

0.09

3.58

0.01

Unknown

AR21-0190

134.24

136.32

2.08

18.26

10.18

9.46

1.53

138.92

4.51

Zone 5

141.13

160.63

19.50

9.81

4.75

7.83

2.04

87.93

1.12

Zone 4

161.46

165.51

4.05

5.20

3.02

4.03

0.19

43.82

0.38

Zone 4

170.74

175.49

4.75

6.78

4.28

5.06

0.31

40.72

0.28

Zone 3

185.48

199.37

13.89

4.94

3.46

2.86

0.10

25.65

0.26

Zone 2.5

217.89

222.65

4.76

1.82

1.33

0.09

0.02

29.13

0.31

Zone 1

Notes:

  • Copper equivalent (CuEq) calculations use metal prices assumptions of US$3.00/lb for copper, US$1.10/lb for zinc, US$1.00/lb for lead, US$1,300/oz for gold, and US$18.00/oz for silver.
  • Results are core intervals and not true thickness; true widths have not been determined for the above intercepts but are believed to be representative of actual drill thicknesses.
  • Significant interval defined as a minimum of 1.0-meter copper interval with average grade >0.5% CuEq.
  • Cut-off grade of 0.5% CuEq.
  • Internal dilution up to three meters of
  • Intervals of
  • Core recovery averaged 96%.
  • Minimum sample length was 0.17m, average sample length was 2.4m overall and 1.7m within mineralized zones.
  • Some rounding errors may occur.

The reported intervals are based on a copper-equivalent grade of 0.5% using metal prices from Trilogy's 2020 Arctic feasibility study ( US$3.00 /lb copper, US$1.10 /lb zinc, US$1.00 /lb lead, US$1,300 /oz gold, and US$18.00 /oz silver) and a maximum of 3-meters internal dilution. All drill hole intercepts are close to true width.

Table 2. Drill Hole Locations at the Arctic Project

Hole

East (m)

North (m)

Elevation (m)

Azimuth

Dip

Length (m)

AR21-0176

613213

7453131

880

35

-70

205.9

AR21-0178

613380

7453402

994

35

-70

282.9

AR21-0180

613396

7453336

995

35

-70

267.3

AR21-0183

613396

7453336

995

35

-48

300.5

AR21-0185

613429

7452893

956

35

-77

235.3

AR21-0186

613309

7453167

918

35

-84

200.3

AR21-0187

613511

7453126

994

40

-67

286.5

AR21-0189

613535

7453056

984

55

-70

439.5

AR21-0190

613327

7453277

948

35

-57

296.7

Coordinates are in UTM Zone 4N (meters) coordinate system, NAD83 Datum.

Drill Hole Descriptions

A cross section showing drill holes AR21-0180, AR21-0183 and AR21-0190 can be seen in Figure 2 . Also, a cross section showing drill holes AR21-0185, AR21-0187 and AR21-0189 is shown in Figure 3.

Hole AR21-0178 which is sized HQ3 (61 mm diameter), was drilled as part of the geotechnical program. At 178.17 meters, a 55-centimetre-thick and partly sphalerite and chalcopyrite mineralized quartz vein is present. From 178.72 to 180.95 meters, below the vein, base metal mineralization consists of semi-massive sulphides and is comprised of chalcopyrite, and dark-red sphalerite. Where mineralization is not massive or semi-massive, stringer-style mineralization parallel to foliation is present. At 199.53 meters, another 30-centimetre interval of semi-massive chalcopyrite and sphalerite mineralization is present. From 234.32 to 244.66 meters, weak chalcopyrite and sphalerite mineralization is present as thin (

Hole AR21-0180 which is sized HQ3 (61 mm diameter), was drilled as part of the geotechnical program. Mineralization begins at 131.46 meters and continues to 166.11 meters with two massive sulphide intercepts. From 147.02 to 148.09 meters, the first massive sulphide section is pyritic and rubbly. Chalcopyrite stringer-style mineralization also increases towards 151.55 meters, where massive sulphide is present from 151.55 to 152.54 meters, and trace native copper is present on some fractures. The massive sulphide interval, although thin, is copper dominated comprised of up to 45% chalcopyrite, lesser pyrite, and minor barite. From 152.54 to 171.87 meters, the interval hosts variable sphalerite and chalcopyrite mineralization. Sphalerite typically manifests as thin near massive bands, and chalcopyrite is present both as bands and stringers. The section from 221.88 to 267.31 meters is weakly mineralized where chalcopyrite stringer-style mineralization is present with and replaced by pyrrhotite.

Location of Drill Holes from the Arctic Infill Drilling Program (CNW Group/Trilogy Metals Inc.)

Hole AR21-0183 which is sized HQ3 (61 mm diameter), was drilled as part of the geotechnical program. It intersected massive sulphides from 200.90 to 204.95 meters. Mineralization consisted of 35% chalcopyrite, 20% sphalerite, minor pyrite, and trace bornite and covellite. From 238 to 256.65 meters, the interval is composed of weak mineralization and is generally marked by fine to medium grained trace pyrite and even more occasionally pyrrhotite.

Cross Section Showing Drill Holes AR21-0180, AR21-0183 and AR21-0190 (CNW Group/Trilogy Metals Inc.)

Cross Section Showing Drill Holes AR21-0185, AR21-0187 and AR21-0189 (CNW Group/Trilogy Metals Inc.)

Hole AR21-0185 which is sized HQ3 (61 mm diameter), was drilled as part of the resource conversion and metallurgical bulk sampling programs, as well as the hydrology testing program. Between 123.19 and 128.20 meters, this hole intersected approximately 4 meters of massive and semi-massive sulphides. The massive and semi-massive units host up to 30% chalcopyrite, 20% sphalerite, 50% pyrite, minor barite, and trace amounts of bornite and covellite. Mottled barite bands up to 2 cm (rarely 4 cm) were associated with fine grained chalcopyrite and pyrite. Very minor banded stringers of chalcopyrite, sphalerite, and pyrite within foliation occur between 146 and 157 meters.

Hole AR21-0186 which is sized PQ3 (83 mm diameter), was drilled as part of the resource conversion and metallurgical bulk sampling programs. Drilling was prematurely terminated in massive sulphides at 200.25 meters when the drill rods stuck. From 111.81 to 114.91 meters, drilling encountered massive sulphide mineralization. Beyond 139.20 meters, mineralization contains periodic bands of massive sulphides with quartz-chlorite-talc-calcite gangue; where generally, mineralization is composed of short, massive sulphide bands in chlorite-talc rocks. Between 139.20 and 157.48 meters, massive sulphides and semi-massive sulphides are locally barite-rich and alternates with typical grey shist.

Hole AR21-0187 which is sized HQ3 (61 mm diameter), was drilled as a part of the geotechnical program. A massive sulphide interval from 85.18 to 89.66 meters averages 5% pyrite, 35% chalcopyrite, and 5% galena. Another mineralized interval from 123.75 to 124.5 meters hosts semi massive sulphides with 5% pyrite, 13% chalcopyrite, and 12% sphalerite.

Hole AR21-0189 which is sized HQ3 (61 mm diameter), was drilled as part of the geotechnical program. The first massive sulphide zone was encountered from 51.34 to 60.88 meters with the first 20 cm of the interval containing disseminated chalcopyrite that progressively increases into a massive sulphide interval. The first 1.25 meters of the massive sulphides contain 40% chalcopyrite, 20% pyrite, and 15% sphalerite. From 56.10 meters to 56.62 meters, the massive sulphides become increasingly copper-rich at the expense of sphalerite which decreases in abundance significantly. From 58 to 59.24 meters, bornite mineralization is present in moderate amounts associated with very weak chalcocite mineralization and abundant chalcopyrite mineralization. From 59.24 to 60.88 meters, at the end of the first massive sulphide intercept, chalcopyrite becomes the dominant sulphide. The second massive sulphide zone was observed from 61.54 to 62.06 meters with 85% chalcopyrite, 5% pyrite and 2% sphalerite.

Hole AR21-0190 which is sized HQ3 (61 mm diameter), was drilled as part of the geotechnical program. The interval from 134.24 to 159.46 meters is a combination of interlayered semi massive and massive sulphides that contain an approximate average of 25% pyrite, 35% chalcopyrite and 20% sphalerite. Another mineralized zone was encountered from 186.75 to 195.57 meters which contains massive sulphides averaging 35% pyrite, 25% chalcopyrite, 20% sphalerite, 2% barite and 1% bornite.

All percentages of sulphide mineralization are based off the visual estimations in the core.

Within the Arctic deposit, mineralization occurs as stratiform semi-massive sulphide to massive sulphide beds within primarily chlorite schists and fine-grained quartz schists. The sulphide beds average 4 meters in thickness but vary from less than 1 meter up to as much as 20 meters in thickness.

QA/QC Program

The drilling program, sampling and assaying protocol, and data verification were managed by qualified persons (QPs) employed by Ambler Metals. The diamond drill holes were completed using PQ3 or HQ3 diameter core, and recoveries averaged 95%. Drill core was cut lengthwise into halves using a diamond saw, with one-half used to construct composites for metallurgical testing and one-half cut lengthwise to provide quarter core for sampling. The remainder of the core was retained in core trays and archived at site.

Samples were collected through mineralized zones using a 0.17 m minimum length and 2.5 m maximum length; average sample length is 1.70 m . Weights of the drill core samples range from 0.2 to 16.86 kg, depending on the size of core, rock type, and recovery.

Each core sample was placed into a bag with a numbered tag and quality control samples were inserted between core samples using the same numbering sequence. Then, samples were grouped into batches for shipping and laboratory submissions. Each batch of 20 samples contains three quality control (QC) samples that comprise one certified reference material (CRM), one core blank (BLK), and one core or crushed duplicate (DUP). Chain-of-custody records are maintained for sample shipments and the custody is transferred from Ambler Metals' expeditor to the laboratory upon delivery.

Samples were shipped initially to ALS Minerals' laboratory in Fairbanks, Alaska , USA, then on to ALS Minerals' laboratory in Hermosillo, Mexico , for sample preparation. ALS Minerals Fairbanks and Hermosillo are satellite sample preparation facilities accredited under ALS Minerals. After preparation at ALS Minerals Hermosillo, split pulp samples were shipped to ALS Minerals in North Vancouver, B.C. , Canada , for assaying. ALS Minerals North Vancouver is an independent laboratory certified under ISO 9001:2008 and accredited under ISO/IEC 17025:2005 by the Standards Council of Canada . ALS Minerals includes its own internal quality control samples comprising certified reference materials, blanks, and pulp duplicates.

Drill core samples were weighed (WEI-21), dried if excessively wet (DRY-21), coarse jaw crushed to 70% passing 6 mm (CRU-21), fine jaw crushed to 70% passing 2 mm (CRU-31), riffle split to 250 g subsamples (SPL-21) and pulverized to 85% passing 75 μm (PUL-31). Crushed duplicates were created by riffle splitting crushed samples into two parts.

Gold analyses were completed using a 30 g lead fire assay and AAS finish (Au-AA23). Multi-element analyses for 48 elements were completed using a geochemical four-acid digestion and ICP-ES/MS finish (ME-MS61). Over-range assays for silver, copper, zinc and sulfur were completed using an ore grade four-acid digestion and ICP-ES finish (ME-OG62). Additional analyses were completed for barium and mercury.

Gold, silver, copper, lead and zinc assays for QC samples were reviewed to ensure that CRMs are within tolerance limits specified on supplier certificates, BLKs are below acceptable thresholds, and DUPs display statistical patterns normally expected for sample types, methods, and elements. CRMs that returned assays outside of tolerance limits and BLKs with assays above thresholds were deemed to have failed. Sample batches containing failed QC samples were re-assayed to ensure that the QC samples returned acceptable results before release. All QC monitoring data are reviewed and signed off by an independent QA/QC geologist.

There is no known relationship between core sample recoveries and assay grades. Ambler Metals will submit 5% of the assay intervals from prospective lithologies to a laboratory independent of ALS Minerals for check assaying.

Qualified Person

Richard Gosse , P.Geo., 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 in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("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 interpretation of drill results; the Company's beliefs regarding the potential of the Arctic Project; the Company's beliefs regarding the Arctic Project's potential to play a significant role in supplying the United States economy with a domestic stable, environmentally safe supply of critical and green metals for many years; and expectations regarding future drill results; 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 impact of the COVID-19 pandemic; 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, 2021 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.

Cautionary Note to United States Investors

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada , which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)—CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended ("CIM Definition Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (SEC), and resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource" does not equate to the term "reserves". Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC's Industry Guide 7 did not permit the inclusion of information concerning "mineral resources". The SEC's new mining disclosure rules under Regulation S-K 1300 are closer, but not identical to NI 43-101 and CIM Definition Standards. As the Company is not yet subject to Regulation S-K 1300, it remains subject to SEC industry Guide 7.  Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards under either SEC's Industry Guide 7 or Regulation S-K 1300.

Trilogy Metals Inc. Logo (CNW Group/Trilogy Metals Inc.)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trilogy-announces-additional-high-grade-results-from-the-2021-infill-drill-program-at-the-arctic-project-301528792.html

SOURCE Trilogy Metals Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2022/20/c5960.html

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TMQ:CA,TMQ
TSX:TMQ

Trilogy Metals Reports High Grade Copper and Zinc from Drilling at its Arctic Deposit

VANCOUVER, Oct. 27, 2016 /PRNewswire/ – Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), formerly NovaCopper Inc., is pleased to announce drill results and provide a project update from its 2016 summer field program at the Arctic poly-metallic volcanogenic massive sulphide (VMS) deposit, part of the Upper Kobuk Mineral Projects (UKMP) located in the Ambler mining district of Northwest Alaska. All amounts are in United States dollars unless otherwise stated.

The majority of this year’s project budget of US$5.5 million was spent on a drilling program at the Arctic Project that included 3,058 meters of drilling for geotechnical, hydrological, waste rock characterization and metallurgical studies as well as further resource definition. In addition to the drilling program, a series of environmental studies were conducted over the UKMP. The LiDAR survey that was incomplete last year due to weather conditions was also completed during the summer. This site investigation work will form the basis for completing a future pre-feasibility study on the Arctic deposit.

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Company News

Trilogy Metals Announces Third Quarter Results and Provides a Corporate and Project Update

VANCOUVER, Oct. 6, 2016 /CNW/ –  Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), formerly NovaCopper Inc., announces its financial results for the third quarter ended August 31, 2016. Details of the Company’s financial results are contained in the unaudited consolidated financial statements and Management’s Discussion and Analysis which will be available on the Company’s website at www.trilogymetals.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are inUnited States dollars unless otherwise stated.
Corporate and Project Update
Name Change
In September 2016, we changed our name to Trilogy Metals Inc. to better reflect our Company’s naturally diversified resource base. The Company’s Upper Kobuk Mineral Projects (“UKMP”) are located in the Ambler mining district in northwest Alaska; a region known to host deposits rich in copper, zinc, lead, gold and silver. The Company controls the mineral rights to approximately 353,000 acres of land containing two known mineral belts, the Ambler Schist Belt and the Bornite Carbonate Sequence. The Ambler Schist Belt hosts volcanogenic massive sulphide (“VMS”) type mineralization occurring as a series of high-grade polymetallic copper-lead-zinc-gold-silver deposits along the entire 100 kilometer (70 mile) long belt. The Bornite Carbonate Sequence hosts several copper replacement targets around the Aurora and Pardner Hill prospects, in addition to an established resource identified at Bornite. Mineralization at Bornite is open to further exploration. The shareholders had previously voted in favour of the change of the Company’s name to Trilogy at our annual and special meeting of shareholders held on May 18, 2016.
Upper Kobuk Mineral Projects
In early August 2016, we wrapped up another successful season advancing the Arctic deposit towards pre-feasibility. The majority of the 2016 project budget of $5.5 million was spent completing a 3,058 metre drill program at the Arctic Project to support geotechnical, hydrological, waste rock characterization and metallurgical studies, as well as resource definition. Substantial field work was also completed to support the continuation of baseline environmental data collection. During the course of the field season, data collection was completed to support an aquatic survey, an avian and large mammal habitat survey, an archaeological survey and expansion of the wetlands delineation and surface quality work. The remaining thirty percent of the LiDAR survey (used to obtain high resolution topographic data) over the UKMP, initiated during the last field season, was completed. The site investigation work completed in 2016 will form the basis for the completion of studies this fall and a future pre-feasibility study on the Arctic deposit. Drill assay results are expected to be released during the fall of 2016.
Sale of Sunward and the Titiribi Project
On September 1, 2016, Trilogy closed the sale of all of the issued and outstanding shares of Sunward Investments Ltd. (“Sunward Investments”) to Brazil Resources Inc. (“BRI”) for consideration of 5,000,000 common shares of BRI, of which 2,500,000 common shares are subject to a six month holding period, and 1,000,000 BRI warrants, with each warrant exercisable into one common share of BRI for a period of two years from the closing date at an exercise price of Cdn$3.50 for total consideration valued at approximately$8.1 million.  Sunward Investments, through a subsidiary, owns 100% of the Titiribi gold-copper exploration project located approximately 70 kilometers southwest of the city of Medellin, in Antioquia Department, Colombia. Trilogy acquired Sunward Investments and the Titiribi project as part of its acquisition of Sunward Resources Ltd. (“Sunward”) in a business combination which closed on June 19, 2015.
The Company reclassified the net assets of Sunward Investments as an asset held for sale and its operations as a discontinued operation, retrospectively, in its third quarter financial statements. The Company expects to realize a gain on the sale of approximately$4.4 million in the fourth quarter of 2016.
Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.

Company News

Mining News: Enter Trilogy Metals

What does a name say about a company? Management of NovaCopper Inc. feels that its corporate moniker does not say enough about the diversity of metals present in the high-grade deposits encompassed by its Upper Kobuk Minerals Projects in the Ambler mining district of Northwest Alaska.
Arctic, the most advanced UKMP deposit, actually hosts more zinc than it does copper. And, while copper remains the dominant metal in terms of value, zinc supply shortages are closing the price gap between these two metals. Additionally, strong gold and silver prices have increased precious metals contributions to Arctic’s value this year.
“The Ambler district is more than just copper – it is copper; it’s zinc; (and) it’s precious metals,” NovaCopper President and CEO Rick Van Nieuwenhuyse explained in a recent interview.
As such, when markets open in Toronto and New York Sept. 8, NovaCopper Inc. will be no more. In its place, Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ), will grace the boards of the Toronto Stock Exchange and NYSE-MKT.
NovaCopper shares under the previous symbol, NCQ, will seamlessly transition to Trilogy Metals shares, requiring no action for current shareholders.
Transition to Trilogy
Spun out of Novagold Resources Ltd. in 2012 to continue the exploration of Arctic and Bornite, two of the highest grade un-mined copper deposits in the world, NovaCopper was a natural choice for the Ambler mining district focused exploration company.
In the months leading up to the formation of NovaCopper, Van Nieuwenhuyse, who was then president and CEO of Novagold, forged a partnership with NANA Regional Corp. that brought together a large package of Novagold-owned mining claims blanketing a 70-mile- (110 kilometer) long belt of high-grade copper-lead-zinc-gold-silver deposits with an adjacent package of NANA-owned lands known for hosting exceptionally high-grade copper.
The alliance provides the Inupiat-owned Alaska Native regional corporation with the opportunity to benefit from the exploration and eventual development of the world-class Arctic deposit and other similar volcanogenic massive sulfide prospects across the Ambler belt. In return, NovaCopper was given the opportunity to investigate Bornite, a copper-rich deposit situated about 16 miles (26 kilometers) southwest of Arctic, and explore other mineral prospects across a large highly prospective swath of NANA lands in the Upper Kobuk region.
Over the ensuing four years, the partnership and the mineral endowment found on the 353,000 acres of UKMP lands has grown.
Today, the Arctic and Bornite deposits together are believed to host roughly 8.4 billion pounds of copper; 2.6 billion lbs. of zinc; 610,000 oz. of gold; 45.3 million oz. of silver; as well as significant quantities of lead and cobalt.
It is the natural diversity this broad range of metals – especially the zinc and precious metals components of Arctic, the UKMP deposit nearest to a production decision – that prompted the transition to the new name of Trilogy Metals.
Arctic focus
Over the past two years, the rebranded company has focused its field work on gathering the last bits of information needed to complete a pre-feasibility study that will outline plans to develop an open pit mine at Arctic.
A roughly 3,000-meter drill program at Arctic was the biggest ticket item of this year’s field program.
Prior to a similar infill drill program completed last year, Arctic hosted 23.85 million metric tons of indicated resource averaging 3.26 percent (1.71 billion lbs.) copper, 4.45 percent (2.34 billion lbs.) zinc, 0.76 percent (400 million lbs.) lead, 0.71 grams per metric ton (550,000 oz.) gold, and 53.2 g/t (40.8 million oz.) silver.
This VMS deposit also contains an estimated 3.63 million metric tons of inferred resource averaging 3.22 percent (239 million lbs.) copper, 3.84 percent (285 million lbs.) zinc, 0.58 percent (43.2 million lbs.) lead and 0.59 g/t (60,000 oz.) gold.
“What is so spectacular about Arctic is it hosts really fantastic grades,” said Van Nieuwenhuyse.
Drilling over the past two seasons has focused on upgrading much of the inferred resources to the higher confidence measured and indicated categories; some pit expansion drilling; and holes targeted to collect pit slope stability, hydrology and metallurgical information.
Thanks in part to great weather at Arctic this year, the 2016 program came in under the US$5.5 million budgeted for the field work.
Trilogy Metals is expected to release results from this drilling and the other field work in October.
Advancing Ambler
When Trilogy Metals returns to the Ambler district in 2017, the company plans to complete the geotechnical work needed to further refine locations for a power plant, mill, waste rock pile, stockpiles and tailings facilities for the Arctic mine plan to be detailed in the prefeasibility study.
The renamed company also would like to resume drilling at Bornite, a copper-rich carbonate replacement deposit that is reminiscent of those found in the African Copper Belt of southern Africa and the Mt. Isa district of Queensland, Australia.
Using a 0.50 percent copper cutoff grade, Bornite now hosts an estimated 40.5 million metric tons of in-pit indicated resources averaging 1.02 percent (913 million pounds) copper; and 84.1 million metric tons of inferred resources averaging 0.95 percent (1.8 billion lbs.) copper.
Additionally, at a 1.50 percent copper cutoff grade, Bornite is estimated to contain 57.8 million metric tons of below-pit inferred resources averaging 2.89 percent (3.7 billion lbs.) copper.
While already world-class in terms of both size and grade, the various zones of Bornite are open to expansion in several directions. The most compelling area is a 1,000-meter-wide stretch of continuing high grades along the northern front.
Hole RC13-0220, the most northeasterly hole drilled at Bornite cut three very high-grade intervals from 877 to 923 meters (at a 2.0 percent cutoff): 5.9 meters of 6.66 percent copper; 9.9 meters of 2.48 percent copper; and 19.7 meters of 2.24 percent copper.
Hole RC13-0224, drilled about 800 meters west of hole 220, cut five high-grade intercepts from 579 meters to 755 meters along this northern front: 19.5 meters of 3.02 percent copper; 16.8 meters of 2.36 percent copper; 39.5 meters of 2.37 percent copper; 8.6 meters of 3.26 percent copper; and 6.5 meters of 7.7 percent copper.
Trilogy believes that continued expansion in this direction could put the grades and size of its Ambler deposits on par with Mount Isa, where more than 400 million metric tons of ore grading 2.12 percent copper has been mined over the past 75 years.
Financial footing
An innovative financing completed last year puts Trilogy Metals in a good position to finish the pre-feasibility work at Arctic and continue exploration at Bornite.
In mid-2015, the company closed the buyout of Sunward Resources Ltd., a fellow exploration company with roughly US$20 million in the bank but a market cap hovering around US$13 million.
In exchange for the cash and Sunward’s Titiribi gold-copper project in Columbia, NovaCopper issued 43.1 million shares to Sunward shareholders.
When Trilogy Metals lights up the boards of the TSX and NYSE-MKT exchanges, it will have nearly US$10 million of this cash remaining in its treasury.
Adding to this strong financial footing, the company cut a deal in mid-August to sell the Titiribi property to Brazil Resources Inc., an exploration company with a growing portfolio of gold and copper properties in South America and Alaska.
In exchange for the Columbia gold-copper property, Trilogy will hold 5 million Brazil Resources shares. With a 50-day moving average of C$2.60 per share, these shares are currently worth about C$13 million.
“While we believe the Titiribi property has excellent exploration potential and a strong local team, the sale allows NovaCopper (Trilogy) to focus on its high-grade copper, zinc and precious metals projects located in Northwest Alaska,” said Van Nieuwenhuyse.
Connect with Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) to receive an Investor Presentation.

Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Paul Kuhn: Drills Turning Soon in 3 Countries

Avrupa Minerals CEO Paul Kuhn: Drills Turning Soon in 3 Countriesyoutu.be

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Lundin Mining Announces Updated Share Capital and Voting Rights

Lundin Mining Corporation Logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") reports the following updated share capital and voting rights, in accordance with the Swedish Financial Instruments Trading Act:

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Kiplin Metals Inc.

KIPLIN METALS Permitting Exploration Program on Cluff Lake Athabasca, Saskatchewan, Canada

(TheNewswire)

Kiplin Metals Inc.

June 29 th 2022 TheNewswire - Kiplin Metals Inc. (TSXV:KIP) (the " Company " or " Kiplin ") announces that the Company has applied for the requisite exploration permits for its Summer geophysical program at the Cluff Lake Road (CLR) Uranium Project in northwestern Saskatchewan. Approval for the proposed IP (Induced Polarization) program is expected in the near term. Data from the survey will be integrated with legacy datasets to develop targets for diamond drilling.

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floating us money

VIDEO — Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Money

Joe Mazumdar: Good vs. Bad Financings — What to Look for When Juniors Raise Moneyyoutu.be

Raising money is a key challenge for juniors in today's markets — and even when companies are able to secure funds, it's key to remember that not all financings are equal.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Joe Mazumdar, editor of Exploration Insights, shared his thoughts on how investors can differentiate between good and bad financings.

Along with considerations like warrants, he told the Investing News Network that before buying shares of an exploration company it's a good idea to look at when it last went to market.

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Teck Named to 2022 Best 50 Corporate Citizens in Canada

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") has been named to the Best 50 Corporate Citizens in Canada ranking as one of the top 50 companies in Canada for corporate citizenship. This marks the 16th consecutive year Teck has been named to the Best 50 by Corporate Knights.

"This acknowledgment is really a reflection of the dedication and passion of Teck's employees, who are focused on caring for people, communities and the environment in every aspect of their work," said Don Lindsay, President and CEO. "Teck is committed to being a positive corporate citizen while responsibly producing the materials needed to build a better quality of life for people around the world and support the low-carbon transition."

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Cyprium Metals Ltd $16m Placement and $10m Non-renounceable Entitlement Offer

Perth, Australia (ABN Newswire) - Cyprium Metals Ltd (ASX:CYM) is pleased to announce a capital raising via a placement and a pro rata non-renounceable rights issue to raise up to approximately $26 million before costs.

HIGHLIGHTS

- Firm commitments received for a Placement to raise $16M at 11.5 cents per share

- Additional pro rata non-renounceable entitlement offer to raise up to $10M

o 1 new share for every 8 held on the record date at 11.5 cents per share
o Offer will be open to all eligible Cyprium shareholders

- Funds raised will place Cyprium in a strong financial position to continue progressing the development of the Nifty Copper Project

- Equity raise supports recently announced $50M Offtake Prepayment Facility with Glencore

- Advanced discussions are continuing with Senior Debt counterparties

Managing Director Barry Cahill commented:

"The Board is very appreciative of the strong support shown from current shareholders and is pleased to welcome a number of new investors to the register.

Cyprium has made significant advances in the past 15 months both in terms of increasing the mineral resource estimate but also particularly in the areas of SX/EW and infrastructure refurbishment, government approvals and metallurgical optimisation.

With the completion of this capital raising, Cyprium will be able to continue to advance the senior debt financing, with the finalisation of the funding package enabling our construction plans and the production of copper metal plate on site in the second half of 2023."

The Company has received firm commitments in respect of a placement to issue approximately 139.1 million new shares (Placement Shares) at 11.5 cents each (Offer Price) to raise $16 million (Placement) from sophisticated and institutional investors.

The Company is also pleased to announce a non-renounceable pro rata entitlement offer at the Offer Price of one (1) new share for every eight (8) shares currently held by eligible shareholders to raise up to $10 million (Entitlement Offer).

The new shares to be issued under the Entitlement Offer will be issued at the same price as the Placement Shares.

Use of Funds

The Placement and Entitlement Offer proceeds will be applied as part of the funding strategy to finance the restart of the Nifty Copper Project which will aim to provide a sustainable, secure, and stable supply of copper metal at 25,000tpa.

As announced on 27 June 2022, Cyprium has entered into an exclusive Letter of Intent (LOI) with Glencore International AG for $50 million in respect of a copper cathode offtake secured prepayment facility, as part of the debt financing package for the restart of the Nifty Copper Project, which includes capital expenditure, contingencies, working capital, and financing costs. The LOI is a non-binding term sheet for both offtake arrangement and project funding and is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project. The Company continues to advance discussions with senior debt providers who are undertaking due diligence activities and reviewing financing documentation.

Details of Placement

Pursuant to the terms of the Placement, the Company has agreed to issue approximately 139.1 million Placement Shares in the Company at the Offer Price of 11.5 cents per share to raise $16 million before costs, under the Company's existing placement capacity pursuant to ASX Listing Rule 7.1 (82,648,514 Placement Shares) and 7.1A (56,481,921 Placement Shares).

Subscribers for the Placement Shares will be entitled to participate in the Entitlement Offer.

Entitlement Offer

Under the Entitlement Offer, eligible shareholders will be able to subscribe for one (1) new ordinary share for every eight (8) existing fully paid ordinary shares held as at 5.00 pm (AEST time) on Friday, 8 July 2022 (Record Date) at the Offer Price.

The Offer Price represents a:

- 28.1% discount to last close on 27 June 2022;

- 19.6% discount to the 10-day VWAP up to and including 27 June 2022;

- 23.9% discount to the 15-day VWAP up to an including 27 June 2022; and

- 25.8% discount to the theoretical ex-rights issue price (TERP) to last close on 27 June 2022.

Cyprium will release a prospectus detailing the terms of the Entitlement Offer shortly, including details as to whether shareholders are eligible to participate in the Entitlement Offer and key risks (Prospectus). The Prospectus will include a personalised entitlement and acceptance form which will provide further details of how to participate in the Entitlement Offer.

Entitlements are non-renounceable and will not be tradeable on ASX or otherwise transferable. Shareholders who do not take up their entitlements will not receive any value in respect of those entitlements that they do not take up.

The Entitlement Offer will include a top up facility under which eligible shareholders who take up their full entitlement will have the opportunity to apply for additional shares from a pool of those not taken up by other eligible shareholders (Top Up Facility). In addition to the Top Up Facility, there will also be a general shortfall offer pursuant to which the Company may place any shares to non-eligible shareholders within three (3) months from the closing date of the Entitlement Offer.

Eligible shareholders should read the Prospectus carefully before making any investment decision regarding the Entitlement Offer. If you are in any doubt about the Entitlement Offer, you should consult your financial or other professional adviser.

Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited are acting as Joint Lead Managers to the Placement. The fees payable to the Joint Lead Managers will be set out in further detail in the Prospectus.

Longreach Capital is acting as financial advisor and Steinepreis Paganin is acting as legal advisor to Cyprium.

*To view the capital structure post placement, please visit:
https://abnnewswire.net/lnk/009WA5D2



About Cyprium Metals Ltd:

Cyprium Metals Limited (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.



Source:
Cyprium Metals Ltd

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