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): July 3, 2019
_______________________
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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Shares |
TMQ |
NYSE American
Toronto Stock Exchange |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company [_]
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [_]
Item 8.01
Other Events
On
July 3, 2019, Trilogy Metals Inc. (the “Company”) issued a press release providing an update on its project activities.
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
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.
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TRILOGY METALS INC. |
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Dated: |
July
3, 2019 |
By: |
/s/ Elaine Sanders |
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Elaine Sanders, Chief Financial Officer |
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Exhibit 99.1
Trilogy Metals Provides Update on Project
Activities
VANCOUVER, July 3, 2019 /CNW/ - Trilogy
Metals Inc. (TSX/NYSE American: TMQ) ("Trilogy Metals", "Trilogy" or the "Company") is
pleased to provide an update on its current project activities. Drilling and technical activities have commenced at both the Arctic
and Bornite Projects which are within the Company's 100%-owned Upper Kobuk Mineral Projects located in Northwest Alaska. All amounts
are in US dollars.
On June 28, 2019, we announced that all the
Company's outstanding warrants have been exercised in advance of the expiry date. As a result of the warrants exercised, Trilogy
Metals issued a total of 6,521,740 common shares of the Company and received cash proceeds of approximately $9.9 million. Please
see the Company's press release dated June 28, 2019 for more information.
Bornite Project
Exploration activities commenced at the beginning
of June with almost 2,000 meters of drilling already completed at the Bornite Project with three rigs from Major Drilling America,
Inc. currently in operation at site. The main goal of the $9.2 million program will be to drill approximately 8,000 meters within
12 holes and will include both infill and expansion drilling. The results from this drilling campaign are anticipated to be included
into a future updated resource estimate. The results from the first few holes of this program are expected to be released
in late summer 2019.
Arctic Project
The $7.0 million engineering and environmental
program has commenced at Arctic with two rigs from Tuuq Drilling LLC, a subsidiary of NANA Development Corporation ("Tuuq").
Work at Arctic commenced in late June and is completing feasibility-level geotechnical and hydrological work. The main goal of
this year's work program is to complete engineering and environmental studies to prepare a National Instrument 43-101 compliant
Feasibility Study. The Company expects to complete the feasibility study in the first half of 2020.
Work is also being done to prepare the Arctic
project for permitting, which we expect to commence in 2020. The permitting preparation studies that are being carried will address
water management, tailings facilities design and waste rock management and containment.
District Exploration
District-wide VTEM and ZTEM helicopter airborne
geophysical surveys were completed this past spring along the entire 100-kilometer long belt of the favorable stratigraphy hosting
known polymetallic volcanogenic-massive sulphide ("VMS") deposits, as well as the area around the Bornite deposit and
the surrounding Cosmos Hills area. The surveys were flown by Geotech Ltd. and the data is currently being re-processed by
Resource Potential PTY Ltd. both of which are independent geophysical consulting firms. As can be seen on Figure 1 there
are a multitude of high quality VTEM and ZTEM anomalies to follow up on. The new VTEM and ZTEM surveys will be integrated
into our extensive dataset encompassing geology, geochemistry, geophysics and over 150,000 meters (or approximately 500,000 feet)
of historical drilling accumulated over a 40-year period of exploration, all of which has been geo-referenced into an integrated
GIS database. This dataset will be analyzed to determine and prioritize targets for drill testing later in the summer after
the Arctic environmental and geotechnical drill program has been completed.
Figure 1. Location of Anomalous VTEM and ZTEM
within the Ambler VMS Belt (CNW Group/Trilogy Metals Inc.)
Ambler Mining District Industrial Access
Project ("AMDIAP")
The Company continues to have regular dialogue
with the Bureau of Land Management ("BLM") which is the lead agency for the permitting of the AMDIAP. Trilogy participated
in several meetings and has provided information and comment on the Proposed and Alternative routes being considered for the Draft
Environmental Impact Statement ("EIS"). According to the BLM website, "The Draft Environmental Impact Statement
is scheduled to be available to the public midsummer 2019. A 45-day public comment period is scheduled. Locations of
the public meetings, including the ANLICA 810 hearings, are to be determined, based on the analysis. The Final EIS is scheduled
to be complete in late fall/early winter 2019."
For more information on the timing of the AMDIAP
permitting please visit the BLM website at https://eplanning.blm.gov/epl-front-office/eplanning/planAndProjectSite.do?methodName=dispatchToPatternPage¤tPageId=111137
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
and development 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 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 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, planned
expenditures and the anticipated drilling, survey, permitting and other activity at the Company's properties and the timing thereof,
the timing and the filing of updated technical reports on the Company's projects, are forward-looking statements. The metallurgical
results discussed in this press release should not be considered representative of other drilling results for the 2019 drilling
campaign. 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 success of exploration, development and mining activities,
permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated
reclamation expenses; mineral reserve and resource estimates and the assumptions upon which they are based; assumptions and discount
rates being appropriately applied to the pre-feasibility study; our assumptions with respect to the likelihood and timing of the
AMDIAP; capital estimates; prices for energy inputs, labour, materials, 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 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, 2018 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
This press release has 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 Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM)—CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted
by the CIM Council, as amended ("CIM Definition Standards"). 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
herein 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 requirements of NI 43-101 for identification
of "reserves" are also not the same as those of the SEC, and reserves reported by Trilogy Metals in compliance with NI
43-101 may not qualify as "reserves" under SEC standards. Arctic does not have known reserves, as defined under SEC Industry
Guide 7. Accordingly, information concerning mineral deposits set forth herein 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 to download multimedia:
http://www.newswire.ca/en/releases/archive/July2019/03/c0958.html
%CIK: 0001543418
For further information: Company Contact: Patrick Donnelly,
Vice President, Corporate Communications & Development, patrick.donnelly@trilogymetals.com, 604-630-3569; 604-638-8088 or 1-855-638-8088
CO: Trilogy Metals Inc.
CNW 10:22e 03-JUL-19
This regulatory filing also includes additional resources:
ex991.pdf
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