- The Company has a 50% interest in the 190,929-hectare Upper Kobuk Mineral Projects (“UKMP”) which hosts numerous areas containing high grade volcanogenic massive sulphide and carbonate replacement style polymetallic zones of mineralization.
- The UKMP hosts some of the highest-grade copper deposits in the world including the high-grade, feasibility stage, Arctic copper-zinc-lead-gold-silver project which has an after-tax net present value of US$1.1 billion. The Arctic Project hosts grades of over 4% copper equivalent.
- The adjacent Bornite Project, also within the UKMP, contains Inferred Resources of 6.5 billion pounds of contained copper.
Trilogy Metals has all the right attributes that shareholders look for when investing in high-quality exploration and development companies.
1 The Arctic resources above are contained in the Arctic NI 43-101 Technical Report on Feasibility Study with an effective date of January 20, 2022 and Arctic Project S-K 1300 Technical Report Summary with report date of November 30, 2022 (the “Arctic Report”). The following serve as the qualified persons for the Arctic Report as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, and in accordance with Form 43-101F1: Kevin Murray, Ausenco Engineering Canada Inc.; Piers Wendlandt, P.E., Principal Mining Engineer, Wood Canada Limited; Henry Kim, P.Geo, Principal Resource Geologist, Wood Canada Limited; Calvin Boese, P. Eng., M.Sc., Principal Consultant, SRK Consulting (Canada) Inc.; Bruce Murphy, P.Eng., Principal Consultant, Rock Mechanics, SRK Consulting (Canada) Inc.; Andrea Bowie, P.Eng., Senior Consultant, Water Management, SRK Consulting (Canada) Inc.; and Dennis Fink, Brown and Caldwell. The Bornite Reserves and Resources above are contained in the NI 43-101 Technical Report on the Mineral Resource Update of the Bornite Project, Northwest Alaska, USA with an effective date of January 26, 2023 (the “Bornite Report”). Henry Kim, P.Geo., and Alan Drake, P.L.Eng., of Wood Canada Limited are co-authors of this Technical Report. They are qualified persons (QPs) as defined in NI 43-101, Standards of Disclosure for Mineral Projects, and in compliance with Form 43-101F1. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves.