UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): June 12, 2017
Trilogy
Metals Inc.
(Exact name of registrant as specified in its charter)
British Columbia |
001-35447 |
98-1006991 |
(State or other jurisdiction of incorporation) |
(Commission
File Number) |
(I.R.S.
Employer Identification Number)
|
Suite 1950, 777 Dunsmuir Street
Vancouver, British Columbia
Canada, V7Y 1K4
(Address of principal executive offices,
including zip code)
(604) 638-8088
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2 below):
[_] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.24d-2(b))
[_] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.23e-4(c))
Item 7.01 Regulation FD Disclosure
On June 12, 2017, Trilogy
Metals Inc. (the “Registrant”) issued a press release announcing the start of the exploration field season for the
Bornite project. A copy of the press release is furnished as Exhibit 99.1 to this report.
In accordance with General
Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to
be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement
or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number |
Description |
99.1 |
Trilogy Metals Starts Bornite Exploration Drilling |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Trilogy
Metals INC.
Dated:
June 12, 2017 | By: | /s/ Elaine Sanders |
| | Elaine M. Sanders, Chief Financial Officer |
Exhibit 99.1
Trilogy Metals Starts Bornite Exploration Drilling
VANCOUVER, June 12, 2017 /CNW/ - Trilogy Metals
Inc. (TSX, NYSE-MKT: TMQ) ("Trilogy Metals" or "the Company") is pleased to announce the start of
the exploration field season for the Bornite project. Trilogy Metals' 80-person camp, located at the Company's Upper Kobuk
Mineral Projects in northwest Alaska, has opened for the summer field season. The Company has engaged Tuuq Drilling, a NANA
company, in partnership with Major Drilling International Inc., to execute the 12,000-meter exploration drilling program at the
Bornite project. Tuuq Drilling has been providing core drilling services to the Red Dog Mine in the NANA region. Tuuq Drilling/Major
Drilling are utilizing 3 diamond core rigs capable of drilling to depths of 1,400 metres. Major Drilling will also bring their
directional drilling capabilities and experience with multiple planned daughter holes drilled from a single parent hole.
This is expected to achieve drill as well as cost efficiencies. Major Drilling has been drilling deep directional holes for
the last 10 years with an excellent safety record. This is a highly specialized job and the combination of Major's drilling
experience and success together with their safety practices earned them "Contractor of the Year" by Rio Tinto at their
Resolution project in Arizona. We are very pleased to welcome Tuuq and Major to our team.
Trilogy Metals is executing this US$10 million program at
Bornite, which has been funded by South32 Limited per the agreement announced on April 10, 2017 (https://Trilogy PR April 19 2017).
This year's exploration at Bornite was approved by a joint Trilogy-South32 Technical Committee and is focused on drilling the extensions
of mineralization last drilled by the Company in 2013.
Bornite Exploration Hole RC13-224: 236 Meters of 1.9% Copper
During the 2013 exploration program at the Bornite project,
the Company completed 8,142 meters of drilling with 4,684 meters drilled at the Ruby Creek zone (a potential open pit resource)
and 3,458 meters drilled at the South Reef zone (a potential underground resource). A series of press releases highlighted results
of the drilling at Bornite starting with the Company's press release dated October 7, 2013 (https://Trilogy PR October 7 2013)
where we highlighted drill hole RC13-224 which intersected two mineralized intervals, starting at 513.3 meters and ending at 754.6
meters (241.3 meter interval), for a combined 236.0 meter composite interval with a weighted average grade of 1.90% copper, and
comprised of 229.4 meters at a grade of 1.73% copper and 6.6 meters at a grade of 7.70% copper.
Project Drilling History
This year's exploration program at Bornite is one of the larger
programs in the history of drilling at the Upper Kobuk Mineral Projects. The original owner of the claims - Kennecott Copper
Company - drilled the property in the 1960s, 70s and a little in the 80s and 90s. Exploration drilling ceased by the mid-80s
when land ownership and access were put into question as a result of the passage of the Alaska National Interest Lands Conservation
Act ("ANILCA"). The land ownership and access issues were resolved by the late 90s and we started work in the region
in 2004, and have continued to fund exploration at Arctic and Bornite since then - see Figure 1 below.
Bornite Resource
Based on the Company's three field seasons of exploration
drilling and re-assaying of previously drilled core from Kennecott, the Company announced an updated resource estimate for the
Bornite project of 5.5 Billion pounds of copper inferred resource and 913 Million pounds of copper indicated resource and filed
a National Instrument 43-101 technical report in 2016. See the Company's press releases dated April 19, 2016 (http://Trilogy
PR April 19 2016) and the Company's press release on the filing of the updated NI43-101 Technical Report for Bornite on May 16,
2016 (https://Trilogy PR May 16 2016).
"This is an exciting year for Trilogy Metals," says
Rick Van Nieuwenhuyse, President and Chief Executive Officer. "We have waited three long years to be able to come back
and drill at Bornite. With the support of South32, we will be drilling 12,000 meters at Bornite this field season to test
the extent of our impressive drill holes from our 2013 drill campaign. The Bornite resource is already 6 billion pounds of
copper and the deposit remains open with 100 metre to +200 metre thick zones of 1% to 2% copper mineralization drilled along a
1 Km wide front. We look forward to releasing drill results as they are made available and updating the resource once we
have completed the drill program."
Qualified Persons
Andrew W. West, P.Geo., Exploration Manager for Trilogy Metals
Inc., is a Qualified Person as defined by National Instrument 43-101. Mr. West has reviewed the technical information in this news
release and approves the disclosure contained herein.
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration company focused
on exploring and developing the Ambler mining district located in northwestern Alaska. It is one of the richest and most-prospective
known copper-dominant districts located in one of the safest geopolitical jurisdictions in the world. It hosts world-class polymetallic
VMS deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host
high grade copper 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 the Company's land package that spans
approximately 143,000 hectares. The Company has an agreement with NANA Regional Corporation, Inc., a Regional Alaska Native Corporation
that provides a framework for the exploration and potential development of the Ambler mining district in cooperation with local
communities. Our 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, the future
operating or financial performance of the Company, planned expenditures and the anticipated activity at the UKMP 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. These forward-looking statements may include statements regarding perceived merit of
properties; exploration plans and budgets; mineral reserves and resource estimates; work programs; capital expenditures; timelines;
strategic plans; market prices for precious and base metals; or other statements that are not statements of fact. 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 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 and the estimation of reserves and resources; the need for cooperation
of government agencies and native groups in the development and operation of properties as well as the construction of the access
road; the need to obtain permits and governmental approvals; risks of construction and mining projects such as accidents, equipment
breakdowns, bad weather, non-compliance with environmental and permit requirements, 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, 2016 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
The Bornite Technical Report have 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 National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy,
and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. 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 therein 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 disclosure standards normally do not permit the inclusion of information concerning
"measured mineral resources", "indicated mineral resources" or "inferred mineral resources" or other
descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards
in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories
will ever be converted into reserves. U.S. investors should also understand that "inferred mineral resources" have a
great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher category. Under Canadian
rules, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except
in rare cases. Investors are cautioned not to assume that all or any part of an "inferred mineral resource" exists or
is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian
regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves"
by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification
of "reserves" are also not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43-101
may not qualify as "reserves" under SEC standards. Accordingly, information concerning mineral deposits set forth in
this press release or the Bornite Technical Report may not be comparable with information made public by companies that report
in accordance with U.S. standards.
SOURCE Trilogy Metals Inc.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2017/12/c6341.html
%CIK: 0001543418
For further information: Company Contacts: Rick Van Nieuwenhuyse,
President & Chief Executive Officer, rickvann@trilogymetals.com; Elaine Sanders, Vice President & Chief Financial Officer,
elaine.sanders@trilogymetals.com; 604-638-8088 or 1-855-638-8088
CO: Trilogy Metals Inc.
CNW 07:00e 12-JUN-17
This regulatory filing also includes additional resources:
ex991.pdf
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