Base Metals

Trilogy Metals Announces First Results of the 2022 Arctic Drill Program at the Upper Kobuk Mineral Projects

Multiple Intercepts of High-Grade Copper, Zinc and Silver Mineralization, including 9.63 Meters with a Copper Equivalent Grade of 6.78% and 5.55 Meters with a Copper Equivalent Grade of 7.81%

Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce the first set of drilling results from the 2022 summer field season at the Upper Kobuk Mineral Projects ("UKMP") located in northwestern Alaska . The UKMP includes the Arctic (volcanogenic massive sulphide, or "VMS") deposit ("Arctic"), the Bornite (carbonate-hosted copper, or "CHC") deposit ("Bornite"), and prospective mining claims in the surrounding area. The drill program was completed by Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32").

The 2022 field program included 10,738 meters of diamond drilling, of which 8,376 meters was drilled at Arctic, the most ever drilled at Arctic in a single field season, while the remainder of the meterage was used on regional targets in the Ambler VMS Belt and near Bornite. The 2022 field program prioritized advancing Arctic with additional infill drilling to further improve the confidence in the resource and for geotechnical studies to further de-risk the project.

Drilling Highlights

Drill holes AR22-0192 and AR22-0195 were drilled as part of the 2022 Arctic infill program designed to increase confidence from Indicated to Measured in areas of the mineral resource block model that would be mined during the first four years of production, based on Trilogy's 2020 Arctic feasibility study mine plan and with the highest estimated metal value.

Significant zones of high-grade copper, zinc, lead, gold, and silver mineralization were intersected, including:

  • AR22-0192 intersected four mineralized intervals, including 9.63 meters of 3.58% copper, 5.89% zinc, 1.07% lead, 0.32 grams per tonne (g/t) gold and 53.52 g/t silver for a copper equivalent grade of 6.78% .
  • AR22-0195 intersected five mineralized intervals, including of 5.55 meters of 3.84% copper, 7.40% zinc, 1.37% lead, 0.36 g/t gold and 63.70 g/t silver for a copper equivalent grade of 7.81%.

______________________________

National Instrument 43-101 technical report titled "Arctic Feasibility Study Alaska, USA NI 43-101 Technical Report" with an effective date of August 20, 2020 and a release date of October 2, 2020 (the "2020 Feasibility Study")


Tony Giardini , President and CEO of Trilogy, commented, "We are pleased to collaborate with Ambler Metals, South32 and NANA on the largest exploration program in the history of the Arctic deposit, and to continue unlocking its world-class mining district potential as a critical source of green metals for the US economy, in line with President Biden's Inflation Reduction Act."

The drill results contained in this news release are from the first seven drill holes of the 2022 Arctic drill program, AR22-0191 through to AR22-0197, which include four infill holes and three geotechnical holes (AR22-0194, 0196 and 0197). All drill holes are sized HQ3 (63.5 mm diameter). Within the Arctic deposit, mineralization occurs as stratiform semi-massive sulphide to massive sulphide beds within primarily graphitic to chloritic schists and fine-grained quartz schists. Sulphide mineralogy is similar for all intercepts: chalcopyrite, sphalerite and galena. Results indicate mineralization is reasonably continuous, especially in Zone 5 which is typically the highest grade and thickest zone at Arctic.

The results of the remaining holes are expected to be announced in the coming months. For full details of the 2022 drill program, see Trilogy's news release dated June 8, 2022 .

As part of the goal of de-risking Arctic, the geotechnical holes were planned to further define the talc horizons in the pit design as outlined in the 2020 Feasibility Study. The holes were drilled at or beyond the edges of the resource and as expected, drill holes AR22-0194 and 0196 did not intersect mineralization while hole AR22-0197 intersected a narrow zone of weak mineralization as shown in Table 1 . Trilogy anticipates that the results may impact engineering of the Arctic open-pit design by pushing back the pit slope in the northeast corner which may increase the strip ratio, improve mine life and slightly reduce reserve grade. The Company intends to prepare a technical study on Arctic effective this fiscal year-end to comply with SEC mining disclosure regulations under SK-1300, and an updated National Instrument 43-101 feasibility study.

Exploration outside of the Arctic deposit focused on discovering copper-rich satellite deposits near Arctic, and in the Cosmos Hills (see Figure 1 ). As part of the regional program, two VMS targets in the Ambler Belt, 98-9 and East Dead Creek, and two CHC targets near Bornite were drill tested (assays pending). In addition, an area covering more than 50km 2 was mapped and prospected, and over 3,900 soil samples were collected.

Richard Gosse , Vice President, Exploration at Trilogy, stated, "We are encouraged by the results of this first set of holes, received from a record total number of meters drilled at Arctic (8,376 meters) in one season, in addition to seven regional drill holes, and extensive geological mapping and soil sampling at several other VMS prospects in the belt, including Ambler, Dead Creek, Sunshine and COU. We look forward to announcing more results from this comprehensive program in the next few months, with a view of upgrading the Indicated Resources at Arctic to Measured."

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 2 and Table 2 .

Table 1. Drill Intercepts from the 2022 Arctic Infill Drilling Program

Hole

From (m)

To (m)

Length (m)

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

CuEq (%)

Ba (%)

Zone

AR22-0191
including

103.26

104.48

1.22

0.298

23.65

0.24

0.22

0.45

0.87

2.37

7

108.81

114.60

5.79

0.499

41.63

2.45

0.80

3.23

4.60

2.35

5

133.20

133.50

0.30

0.049

11.80

1.38

0.25

2.83

2.64

0.01

4

138.78

145.90

7.12

0.039

6.17

2.12

0.02

1.83

2.88

0.02

3

231.42

232.23

0.81

0.016

1.09

0.56

0.00

0.03

0.59

0.21

1

AR22-0192
including

118.52

128.15

9.63

0.322

53.52

3.58

1.07

5.89

6.78

6.88

5

145.25

152.61

7.36

0.354

41.25

2.38

0.30

2.40

3.95

1.43

4

157.17

158.38

1.21

0.053

10.45

0.29

0.32

0.81

0.82

0.06

3

219.60

220.10

0.50

0.061

5.83

0.59

0.27

1.69

1.39

0.01

2

AR22-0193
including

90.53

93.00

2.47

0.138

9.24

0.29

0.06

0.33

0.60

3.43

7

96.51

103.49

6.98

0.270

21.98

1.42

0.26

2.09

2.65

3.30

5

126.13

126.50

0.37

0.119

37.90

2.37

0.41

1.45

3.45

0.01

4

130.01

138.74

8.73

0.056

31.01

3.06

0.33

2.45

4.38

0.06

3

239.88

240.89

1.01

0.087

11.75

0.94

0.03

0.28

1.21

0.21

1

AR22-0195
including

85.05

87.39

2.34

0.146

15.08

0.26

0.20

0.97

0.91

4.17

7

92.98

98.53

5.55

0.355

63.70

3.84

1.37

7.40

7.81

3.48

5

128.30

132.04

3.74

0.057

4.43

0.78

0.04

0.37

1.00

0.05

3

143.15

143.48

0.33

0.019

2.91

0.62

0.02

0.02

0.68

0.01

?

253.38

254.90

1.52

0.148

31.13

2.57

0.20

0.72

3.28

0.39

1

AR22-0197

6.29

6.61

0.32

0.003

1.10

0.54

0.02

0.20

0.63

0.11

5

Notes:

  • Copper equivalent (CuEq) calculations use metal prices assumptions of $3.00 /lb for copper, $1.10 /lb for zinc, $1.00 /lb for lead, $1,300 /oz for gold, and $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 within 80% of actual drill thicknesses.
  • Cut-off grade of 0.5% CuEq.
  • Internal dilution up to three meters of
  • Core recovery averaged 94%.
  • Within mineralized zones the minimum sample length was 0.14m , maximum sample length was 2.81m , and the average sample length was 1.49m .
  • Some rounding errors may occur.

Figure 1. UKMP Prospective Areas and Key Prospects (CNW Group/Trilogy Metals Inc.)

Figure 2. Location of Arctic Drill Holes from the UKMP Drilling Program (CNW Group/Trilogy Metals Inc.)

Drill holes AR22-0191, 0192, 0193 and 0195 which are sized HQ3 (63.5 mm diameter), were drilled as part of the 2022 Arctic infill program to increase confidence from Indicated to Measured in areas of the mineral resource block model that would be mined during the first four years of production, based on Trilogy's 2020 Feasibility Study mine plan and with the highest estimated value (see Figure 2 ). The holes, as seen in Figures 3 and 4 , indicate mineralization is reasonably continuous, especially in Zone 5 which is typically the highest grade and thickest zone at Arctic. Sulphide mineralogy is similar for all intercepts: chalcopyrite, sphalerite and galena.

Figure 3. Cross Section Showing Hole AR22-0192 (CNW Group/Trilogy Metals Inc.)

Figure 4. Cross Section Showing Holes AR22-0193 and 0195 (CNW Group/Trilogy Metals Inc.)

Table 2. Drill Hole Locations at the Arctic Project

Hole

Easting

Northing

Elevation

Azimuth

Dip

Length

AR22-0191

613427.48

7453222.71

977.33

54

-63

285.6

AR22-0192

613408.01

7453239.69

974.71

41

-58

270.36

AR22-0193

613465.12

7453172.51

983.18

41

-68

282.55

AR22-0194

613144.13

7453644.46

895.11

35

-65

24.84

AR22-0195

613468.42

7453130.31

980.45

35

-70

295.66

AR22-0196

613145.12

7453645.07

895.29

90

-70

91.44

AR22-0197

613534.13

7453336.95

905.04

35

-70

12.95

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


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 HQ3 diameter core, and recoveries averaged 94%. Drill core was cut lengthwise into halves using a diamond saw, and one-half was cut lengthwise to provide quarter core for sampling. The remainder of the core was retained in core boxes and archived at site.

Samples were collected through mineralized zones using a 0.14 m minimum length and 2.81 m maximum length; average sample length is 1.49 m . Weights of the drill core samples range from 0.81 to 11.94 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 quality control (QC) samples that comprise one certified reference material (CRM), one core blank (BLK), and one crushed or pulp duplicate (DUP). In addition, 1 core duplicate was taken within mineralized intervals for every 20 samples. 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 to ALS Minerals laboratory in Fairbanks, Alaska , USA, for sample submission. ALS Minerals Fairbanks is a satellite sample preparation facility accredited under ALS Minerals. The ALS Minerals Fairbanks shipped the samples to ALS Minerals in North Vancouver, B.C. , Canada , for sample preparation and analysis. 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 . Selected sample batches were sent to ALS Minerals laboratory in Vientiane, Laos for fire assay. 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 Ag, Cu, Zn, and S were completed using an ore grade four-acid digestion and ICP-ES finish (ME-OG62). Additional analyses were completed for Ba and Hg.

Au, Ag, Cu, Pb, and Zn 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 Persons

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 that holds a 50 percent interest in Ambler Metals LLC which has a 100 percent interest in the Upper Kobuk Mineral Projects 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, one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits that 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 while protecting and respecting subsistence livelihoods.

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 Upper Kobuk Mineral Projects; the Company's expectation that the drill program may impact engineering of the Arctic open-pit design; the anticipated timing of an updated feasibility study on Arctic; and the Company's expectations regarding de-risking of the Upper Kobuk Mineral Projects 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, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, supplies and services the interpretation of drill results, the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests; the need for cooperation of government agencies and native groups in the development and operation of properties; the need to obtain permits and governmental approvals; unanticipated variation in geological structures, metal grades or recovery rates; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates 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.

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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.

Cyprium Metals

Cyprium Metals Limited (ASX: CYM) – Suspension from Quotation

Description

The securities of Cyprium Metals Limited (‘CYM’) will be suspended from quotation immediately under Listing Rule 17.2, at the request of CYM, pending the release of an announcement regarding a capital raising.

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Cyprium Metals

Investor Webinar - Updated

Cyprium Metals Limited (ASX: CYM) (“Cyprium” or the “Company”) is pleased to invite investors and shareholders to the Cyprium Metals Investor Webinar to be held on Monday 6 February 2023 at 12.30 pm AEST / 09.30 am AWST.

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Teck Announces Completion of Sale of Fort Hills Interests

Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") announced today that it has completed the sale of its 21.3% interest in the Fort Hills Energy Limited Partnership ("Fort Hills") to Suncor Energy Inc. ("Suncor") and TotalEnergies EP Canada Ltd. ("TotalEnergies"), a subsidiary of TotalEnergies SE. Teck received aggregate cash proceeds of approximately $1 billion and does not anticipate any tax payable on the disposition.

About Teck
As one of Canada's leading mining companies, Teck is committed to responsible mining and mineral development with major business units focused on copper, zinc, and steelmaking coal. Copper, zinc and high-quality steelmaking coal are required for the transition to a low-carbon world. Headquartered in Vancouver, Canada, Teck's shares are listed on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources .

News Provided by GlobeNewswire via QuoteMedia

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Hudbay to Host Conference Call for Fourth Quarter 2022 Results

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) senior management will host a conference call on Friday, February 24, 2023 at 8:30 a.m. ET to discuss the company's fourth quarter 2022 results and production and cost guidance for 2023.

Fourth Quarter 2022 Results Conference Call and Webcast
Date: Friday, February 24, 2023
Time: 8:30 a.m. ET
Webcast: www.hudbay.com
Dial in: 1-416-915-3239 or 1-800-319-4610

Hudbay plans to issue a news release containing the fourth quarter 2022 results on Thursday, February 23, 2023 and post it on the company's website. An archived audio webcast of the call also will be available on Hudbay's website.

News Provided by GlobeNewswire via QuoteMedia

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First Quantum Reports Fatality at Trident Operation

First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX: FM) is deeply saddened to announce that a worker at its Trident operation passed away following a traffic accident in the Sentinel open pit, involving a dump truck and a light vehicle. The site emergency response team attended immediately. One other person was severely injured and medically evacuated.

Trident has advised the relevant local authorities and will assist the Mine Safety Department in their investigations. An internal investigation into the accident is already underway. Operations in the pit have been temporarily suspended until deemed that operations can resume safely.

News Provided by GlobeNewswire via QuoteMedia

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Northern Dynasty: State of Alaska Leaders and Industry Groups Fight Back Against Unwarranted and Unprecedented EPA Action

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company" or "NDM") advises that press releases and statements were issued by the State of Alaska and industry groups on January 31, 2023 strongly objecting to the EPA's unprecedented and action to veto mining on the land where the Pebble Project is located in Southwest Alaska

The State of Alaska issued a press release entitled "EPA's Preemptive Veto Sets Dangerous Precedent". Excerpts from the press release are found below:
"EPA's veto sets a dangerous precedent. Alarmingly, it lays the foundation to stop any development project, mining or non-mining, in any area of Alaska with wetlands and fishbearing streams," said Alaska Governor Mike Dunleavy. "My Administration will stand up for the rights of Alaskans, Alaska property owners, and Alaska's future."

News Provided by ACCESSWIRE via QuoteMedia

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