(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 5, 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 5, 2017, Trilogy
Metals Inc. (the “Registrant”) issued a press release announcing the engagement of consultants for the pre-feasibility
study on the Arctic 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 Engages Consultants for Arctic Pre-Feasibility Study |
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 5, 2017 | By: | /s/ Elaine Sanders |
| | Elaine M. Sanders, Chief Financial Officer |
Exhibit 99.1
Trilogy Metals Engages Consultants for Arctic Pre-Feasibility
Study
VANCOUVER, June 5, 2017 /CNW/ - Trilogy Metals Inc.
(TSX, NYSE-MKT: TMQ) ("Trilogy Metals" or "the Company") is pleased to announce that it has engaged
Ausenco Engineering Canada Inc. ("Ausenco") to prepare the Arctic pre-feasibility study ("PFS")
technical report anticipated to be complete in Q1, 2018. The Company has also engaged Amec Foster Wheeler ("Amec")
to complete mine planning and SRK Consulting (Canada) Inc. ("SRK") to complete tailings and waste design, hydrology
and environmental studies.
Ausenco is a global diversified engineering, construction
and project management company providing consulting, project delivery and asset management solutions to the resources, energy and
infrastructure sectors. Ausenco's experience in base metal and cold weather projects ranges from conceptual, pre-feasibility and
feasibility studies for new project developments to brownfield expansions with EPCM and EPC delivery. Ausenco is currently
engaged on a number of remote projects with similar characteristics and opportunities to the Arctic project. Ausenco's office
in Vancouver, British Columbia, Canada will coordinate the Arctic PFS.
"We are pleased to have assembled an excellent team to
complete our pre-feasibility study on the high-grade polymetallic Arctic deposit. Ausenco, Amec and SRK are, all three, highly
skilled and reputable companies, and the individual team members at each of these companies have decades of mining experience to
draw on. The Arctic project is the first of many exciting opportunities in the Ambler mining district. While the Arctic
PFS gets underway with a budget of US$7.1 million, we will continue to explore our exciting Bornite property with a budget of US$10
million. With a US$17 million total budget this year for exploration at Bornite and the Arctic PFS, it will be a very busy
and productive year ahead for the Company. Major mining districts take time to develop and we are fortunate to have long-term
support through our partnerships with NANA, AIDEA and South32, as well as continued support from our large shareholders",
says Rick Van Nieuwenhuyse, President and Chief Executive Officer.
Arctic Pre-Feasibility Study
The Arctic deposit is a high-grade copper-zinc-lead volcanogenic
massive sulfide deposit which also contains significant amounts of precious metals. The Company is proposing a 10,000 tonne per
day, open pit mining operation with a typical crush-grind-float flow sheet producing significant tonnages of copper and zinc concentrates
and lessor lead concentrate containing significant quantities of precious metals. The Company has recently provided updated "PFS
level" metallurgy, pit-slope stability and hydrology information in our March 19, 2017 press release (https://Trilogy PR April
19 2017) and an updated resource estimate for Arctic on March 25, 2017 (https://Trilogy PR April 25 2017). This summer, our
consultants will work with our team members to complete the site investigation work to determine the optimal location for the mill
and power plant, tailing and waste design, and other supporting infrastructure and facilities. The Company had previously
released a National Instrument 43-101 - Standards of Disclosure technical report entitled "Preliminary Economic Assessment
Report on the Arctic Project, Ambler Mining District, Northwest Alaska" dated effective September 12, 2013 (the "PEA")
(https://Trilogy PR September 12 2013). We expect the PFS to be completed in Q1, 2018. Ausenco, who are independent
from the Company, will coordinate and work with our other consultants to provide engineering support and an economic analysis,
as well as author the Arctic PFS technical report for the Company.
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, statements
relating to the potential timing and preparation of a PFS on the Arctic deposit, 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 Arctic Preliminary Economic Assessment and 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: http://www.newswire.ca/en/releases/archive/June2017/05/c1245.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 05-JUN-17
This regulatory filing also includes additional resources:
ex991.pdf
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