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): December 4, 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 1150, 609 Granville Street
Vancouver, British Columbia
Canada, V7Y 1G5
(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 December 4, 2017, Trilogy
Metals Inc. (the “Registrant”) issued a press release announcing drill results from its 2017 exploration program at
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 Reports Additional Significant Drill Results from the 2017 Bornite Exploration Program |
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: December 4, 2017 | By: | /s/ Elaine Sanders |
| | Elaine
M. Sanders, Chief Financial Officer |
Exhibit 99.1
Trilogy Metals Reports Additional Significant Drill Results
from the 2017 Bornite Exploration Program
VANCOUVER, Dec. 4, 2017 /CNW/ - Trilogy Metals Inc.
(TSX, NYSE American: TMQ) ("Trilogy Metals" or the "Company") is pleased to announce additional
results from this summer's exploration diamond drilling program at the Bornite Project, a part of the Company's Upper Kobuk Mineral
Projects ("UKMP") located in the Ambler mining district of Northwest Alaska.
The recently completed 2017 Bornite exploration program included
a total of 9 drill holes comprising 8,437 meters. Note that due to inclement weather, two holes (RC17-241 and 242) were stopped
before reaching target depth and cemented in preparation for re-entry during the 2018 drill program. The focus of this year's program
was to target high-grade copper mineralization north and east of the previously identified resources and to define the edges of
the mineralized system.
Sample results from the first three holes comprising 3,083
meters of the then in-progress drill campaign were released on September 18, 2017 (https://Trilogy PR Sep 18 2017). The initial
three drill holes showed thick and continuous intervals of copper mineralization and represented up to 300 meter off-sets from
the Company's last round of drill holes completed in 2013, which shows that the Bornite mineralized system continues to significantly
expand.
Results from 4 further drill holes (RC17-237; 238w; 239; and
240), comprising 4,321 meters and representing 300 to 400 meter off-sets from the first three drilled holes, continue to show significant
intervals of high-grade copper. (See Figures 1 through 3 for cross sections of the Bornite Project drilling and Figure 4 for a
map of the 2017 drill holes). This year's drilling is also showing strong northwest and northeast mineralization not previously
recognized. (See Figure 5 - Grade Thickness Map).
At a cutoff grade of 0.5% copper, the results are as follows:
| · | RC17-237 intersected two mineralized intervals totaling
30.5 meters averaging 0.73% copper; |
| · | RC17-238W intersected four mineralized intervals totaling
32.4 meters averaging 1.03% copper; |
| · | RC17-239 intersected three mineralized intervals totaling
50.6 meters averaging 1.36% copper; and |
| · | RC17-240 intersected one mineralized interval totaling
25.1 meters averaging 0.96% copper. |
Results are presented in Table 2 at a cutoff grade
of 0.5% copper to be comparable with previous drill results released by the Company. Results at a more selective higher grade cutoff
of 1.0% copper are also presented in Table 3 to show locally higher grade intervals.
Rick Van Nieuwenhuyse, President and CEO of Trilogy Metals
commented, "It was unfortunate that we could not complete two of the planned holes due to weather, but rest assured that we
will complete these next year. The remaining four drill holes represent very large step outs from all previous drilling and demonstrate
that the Bornite system continues to grow. We have essentially doubled the size of the mineralized footprint with an overall Bornite
system now measuring 1500 meters by 2500 meters defined by a 50 Meter x % copper - that is 50 meters averaging at least 1% copper
or better (see Figure 5). In particular, the grade x thickness map suggests NE and NW oriented controls on higher grade mineralization.
Structural studies are ongoing with the voluminous amount of 3D structural data collected over the course of the summer drill program.
This work will be focused on defining preferred mineralized corridors as defined by vein and breccia orientations to develop a
sense of ore and grade controls. In addition, we continue to see significant cobalt occurring as carrolite and cobaltiferous pyrite.
Electron microprobe and metallurgical work will be conducted during the winter months with the objective of determining if the
cobalt can be concentrated into a saleable product. If it is determined that it can, then cobalt will be added to the resource
base as a potentially valuable metal which could enhance the value of Bornite".
Rick Van Nieuwenhuyse further commented, "We are in the
process of planning the 2018 program with an estimated US$10 million budget. One component of the program will include a seismic
program to be completed in the spring time when the ground is still frozen and the daylight has returned. The balance of the program
will be directed at further in-fill and expansion drilling. The bornite-chalcocite-chalcopyrite minerals at the Bornite Project
lend themselves well to forming a high-quality copper concentrate with no deleterious materials".
Trilogy Metals has recently completed US$10 million exploration
drill program at Bornite was funded by South32 Limited per the agreement announced on April 10, 2017 (https://Trilogy PR April
10 2017). The program was approved by a joint Trilogy-South32 Technical Committee and was focused on drilling the extensions of
mineralization last drilled by the Company in 2013. South32 has until January 31, 2018 to elect to fund a second US$10 million
program.
Bornite Resource
In April of 2016, the Company announced an updated resource
estimate for the Bornite project of 5.5 Billion pounds of copper inferred resource at a grade of 2.26% Cu and 913 Million pounds
of copper indicated resource at a grade of 1.02% Cu, based on the Company's previous three field seasons of exploration drilling
and re-assaying of previously drilled core from Kennecott. Additional information on the Bornite project can be found in
the Company's technical report titled "Amended NI 43-101 Technical Report on the Bornite Project, Northwest Alaska, USA"
with an effective date of April 19, 2016 and a release date of October 12, 2017 available under the Company's profile on SEDAR
at www.sedar.com and EDGAR at www.sec.gov.
![Figure 1 - MAP SHOWING LOCATION OF CURRENT DRILLING (CNW Group|Trilogy Metals Inc.)](http://www.sec.gov/Archives/edgar/data/1543418/000127956917002329/image_001.jpg)
!["Figure 2 ??? CROSS SECTION OF BORNITE DRILLING Showing RC17-236-237 Results (CNW Group|Trilogy Metals Inc.)"](http://www.sec.gov/Archives/edgar/data/1543418/000127956917002329/image_002.jpg)
!["Figure 3 ??? CROSS SECTION OF BORNITE DRILLING Showing RC17-239 Results (CNW Group|Trilogy Metals Inc.)"](http://www.sec.gov/Archives/edgar/data/1543418/000127956917002329/image_003.jpg)
!["Figure 4 ??? CROSS SECTION OF BORNITE DRILLING Showing RC17-240 Results (CNW Group|Trilogy Metals Inc.)"](http://www.sec.gov/Archives/edgar/data/1543418/000127956917002329/image_004.jpg)
!["Figure 5 ??? MAP SHOWING GRADE X THICKNESS OF MINERALIZED INTERSECTIONS USING A 0.3% Cu CUT-OFF GRADE (CNW Group|Trilogy Metals Inc.)"](http://www.sec.gov/Archives/edgar/data/1543418/000127956917002329/image_005.jpg)
QA/QC Program
The drill program, sampling protocol and data verification
were managed by qualified persons employed by Trilogy Metals. The diamond drill holes were typically collared at HQ diameter drill
core and reduced to NQ diameter during the drilling process. Samples were collected using a 0.2-meter minimum length, 2.5-meter
maximum length and 1.7-meter average sample length. Drill core recovery averaged 88% overall and 91% within the prospective lithologies.
The drill core was sawn, with half sent to ALS Minerals in Fairbanks for sample preparation and the sample pulps forwarded to ALS's
North Vancouver facility for analysis. ALS Minerals in North Vancouver, B.C., Canada, is a facility certified as ISO 9001:2008
and accredited to ISO / IEC 17025:2005 from the Standards Council of Canada. Three quality control samples (one blank, one standard
and one duplicate) were inserted into each batch of 20 samples. Results of the control samples were reviewed by the qualified
person and were all within acceptable limits. Trilogy Metals will submit 5% of the assay intervals from prospective lithologies
to an independent check assay lab.
Table 1 - 2017 Bornite drill hole locations
Drill hole |
East (m) |
North (m) |
Elev. (m) |
Azimuth |
Dip |
RC17-0234 |
590813 |
7441022 |
376.8 |
206 |
80 |
RC17-0235w |
590398 |
7440826 |
322.1 |
206 |
80 |
RC17-0236 |
590157 |
7441086 |
275.9 |
206 |
80 |
RC17-0237 |
590340 |
7441470 |
271.9 |
206 |
80 |
RC17-0238w |
589917 |
7440948 |
241.1 |
206 |
80 |
RC17-0239 |
590869 |
7440695 |
369.9 |
206 |
80 |
RC17-0240 |
590977 |
7441399 |
385.7 |
206 |
80 |
RC17-0241 |
590520 |
7441207 |
333.3 |
206 |
80 |
RC17-0242 |
589466 |
7440938 |
194.4 |
206 |
80 |
UTM North 4 coordinate system (meters), NAD83 Datum |
|
|
|
|
|
|
|
|
Table
2 - 0.5% Cu Cut-off
with maximum 5m internal waste - Minimum
5m interval
Hole |
From (m) |
To (m) |
Length |
Cu (pct) |
Co (ppm) |
Ag (ppm) |
Zn (pct) |
RC17-237 |
947.90 |
966.00 |
18.10 |
0.72 |
169 |
0.42 |
0.04 |
971.83 |
984.20 |
12.37 |
0.75 |
330 |
0.44 |
0.29 |
Total of |
30.47 |
0.73 |
234 |
0.42 |
0.14 |
RC17-238w |
579.68 |
589.65 |
9.97 |
0.61 |
152 |
0.40 |
0.49 |
596.87 |
601.75 |
4.88 |
2.11 |
58 |
0.93 |
0.02 |
618.13 |
623.15 |
5.02 |
0.55 |
108 |
0.34 |
0.03 |
632.18 |
644.68 |
12.50 |
1.14 |
230 |
0.65 |
0.08 |
Total of |
32.37 |
1.03 |
161 |
0.57 |
0.19 |
RC17-239 |
844.61 |
860.84 |
16.23 |
1.04 |
72 |
0.46 |
0.02 |
877.84 |
886.06 |
8.22 |
1.67 |
459 |
0.26 |
0.01 |
892.73 |
918.87 |
26.14 |
1.46 |
201 |
0.24 |
0.00 |
Total of |
50.59 |
1.36 |
202 |
0.31 |
0.01 |
RC17-240 |
1168.24 |
1193.35 |
25.11 |
0.96 |
99 |
0.99 |
0.01 |
Table
3 - 1.0% Cu Cut-off
with maximum 5m internal waste - Minimum
4m interval
Hole |
From (m) |
To (m) |
Length |
Cu (pct) |
Co (ppm) |
Ag (ppm) |
Zn (pct) |
RC17-238w |
635.83 |
644.36 |
8.53 |
1.27 |
221 |
0.72 |
0.05 |
RC17-239 |
849.63 |
857.10 |
7.47 |
1.53 |
69 |
0.71 |
0.01 |
879.77 |
884.68 |
4.91 |
2.19 |
549 |
0.32 |
0.01 |
893.88 |
918.87 |
24.99 |
1.51 |
208 |
0.25 |
0.00 |
Total of |
37.37 |
1.60 |
225 |
0.35 |
0.01 |
RC17-240 |
1179.88 |
1185.20 |
5.32 |
2.278 |
57.188 |
1.441 |
0.018 |
Qualified Persons
Andrew W. West, Certified Professional Geologist, 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, interpretation of drill results, 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. Under Canadian
rules, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except
in rare cases. 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/December2017/04/c1580.html
%CIK: 0001543418
For further information: Company Contacts: Rick Van Nieuwenhuyse,
President & Chief Executive Officer; Elaine Sanders, Vice President & Chief Financial Officer, 604-638-8088 or 1-855-638-8088
CO: Trilogy Metals Inc.
CNW 14:59e 04-DEC-17
This regulatory filing also includes additional resources:
ex991.pdf
Trilogy Metals (AMEX:TMQ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Trilogy Metals (AMEX:TMQ)
Historical Stock Chart
From Jul 2023 to Jul 2024