VANCOUVER, Sept. 10, 2019 /CNW/ - Trilogy Metals Inc.
(TSX/NYSE American: TMQ) ("Trilogy Metals" or the
"Company") is pleased to announce the first set of assay
results from this summer's exploration diamond drilling program at
the Bornite Project and the Sunshine prospect, which are part of
the Company's Upper Kobuk Mineral Projects ("UKMP") located in the
Ambler mining district of Northwest Alaska. All amounts are
in USD.
Based on the VTEM geophysical survey that we completed this past
spring over the Ambler volcanogenic massive sulphide ("VMS") belt
and from historical drilling, the most recent drilling targeted the
Sunshine prospect, which is approximately eight miles (13
kilometers) from the Arctic Project. The assay results
reported below for one drill hole from the Sunshine prospect
comprises 161 meters of the 1,356-meter six-hole drill campaign at
this prospect. Results from the other five holes at Sunshine
are pending and will be released later in the year.
The four Bornite drill holes reported below comprise
approximately 3,014 meters from the recently completed 7,610-meter
drill campaign. All four drill holes contain copper mineralization
and were designed as either infill drill holes to the 300 to
400-meter step-out holes completed in 2017 and 2018 or in the case
of RC19-0258 to step-out 150 meters to the northwest of the
existing mineral resource.
In total, there were 10 holes (7,610 meters) drilled at Bornite,
11 holes drilled at Arctic (2,405 meters) and six holes (1,357
meters) drilled at the Sunshine prospect during the 2019 field
season.
Drilling Highlights – Sunshine Prospect
At a cutoff grade of 1.5% copper equivalent* the results from
zones 1-4 and a newly discovered zone from the Sunshine prospect
are as follows:
- SC19-019 intersected five mineralized intervals of:
-
- 9.1 metres with a copper equivalent grade of 3.95% (3.02%
copper, 1.42% zinc, 0.27% lead, 0.14 g/t gold and 24.65 g/t
silver);
- 3.3 metres with a copper equivalent grade of 2.82% (1.68%
copper, 1.77% zinc, 0.47% lead, 0.12 g/t gold and 27.57 g/t
silver);
- 3.7 metres with a copper equivalent grade of 5.51% (4.74%
copper, 0.97% zinc, 0.13% lead, 0.15 g/t gold and 28.96 g/t
silver);
- 3.0 metres with a copper equivalent grade of 1.63% (0.75%
copper, 1.40% zinc, 0.35% lead, 0.08 g/t gold and 21.02 g/t
silver); and
- 7.88 metres with a copper equivalent grade of 5.23% (2.23%
copper, 5.62% zinc, 1.10% lead, 0.18 g/t gold and 46.95 g/t
silver).
* Assumptions used
for the copper equivalent calculation were metal prices in USD of
$2.90/lb copper, $1.10/lb zinc, $0.90/lb lead $1,250/oz Gold, and
$18/oz Silver and recovery is assumed to be 100% as no
metallurgical test data is available. The following equation was
used to calculate copper equivalence: CuEq = Copper (%) + (Zinc (%)
x 0.379) +(lead (%) x 0.310) + (Gold (g/t) x 0.629) + (Silver (g/t)
x 0.009).
|
Drilling Highlights – Bornite Project
At a cutoff grade of 0.5% copper the results from the Bornite
Project are as follows:
- RC19-257 intersected three mineralized intervals
including:
-
- 3.7 metres averaging 1.32% copper; and
- 4.4 metres averaging 2.60% copper.
- RC19-258 intersected three mineralized intervals
including:
-
- 23.2 metres averaging 0.76% copper.
- RC19-259 intersected seven mineralized intervals
including:
-
- 56.1 metres averaging 1.81% copper.
- RC19-261 intersected six significant mineralized intervals
including:
-
- 2.9 metres averaging 2.63% copper;
- 35.0 metres averaging 1.98% copper;
- 16.0 metres averaging 2.02% copper;
- 54.1 metres averaging 1.11% copper;
- 3.1 metres averaging 1.84% copper; and
- 29.0 metres averaging 1.47% copper.
James Gowans, Interim President
and CEO of Trilogy Metals commented, "The four mineralized holes
from Bornite show that the Cu-mineralization is continuous
throughout the Upper and Lower Reefs. However, we are excited
with the results from our recently completed regional exploration
program where we have intersected VMS polymetallic mineralization
at Sunshine with grades and thicknesses comparable to Arctic.
Of particular excitement is the discovery of a new horizon that
lies above known sulphide horizons."
The 2019 drilling budget of $9.2
million for Bornite this year was funded entirely by South32
Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32") and represents
the third and final payment under the Company's option agreement
(as amended, the "Option Agreement") with South32 and maintains the
Option Agreement in good standing.
In addition, the Company and South32 funded an additional
$2 million for district exploration
focused on identifying and testing new drill targets within the
Ambler VMS Belt. The Company contributed $1
million to the UKMP regional program and South32 contributed
the remaining $1 million. The
regional drilling focused on the Sunshine deposit, which is located
approximately 8 miles (13 kilometers) from the Arctic Project and
13 miles (21 kilometers) from the Bornite Project. For more
information on the Option Agreement see the Company's press release
on April 10, 2017 (https://Trilogy PR
April 10 2017).
This year's program at Bornite was comprised of 10 drill holes
totaling approximately 7,610 meters through a combination of infill
and expansion drill holes in and around the known resource.
Trilogy Metals has recently completed its summer exploration
drilling program at Bornite and Sunshine and geotechnical
activities at its Arctic Project. Additional drill results are
anticipated to be released regularly over the next couple of months
as they become available.
Results for Bornite are presented in Table 1 at a
cutoff grade of 0.5% copper to be comparable with previous drill
results released by the Company. All the intersected widths
are normal to stratigraphy and therefore can be considered to be
true widths. Results at a more selective higher-grade cutoff of
1.5% copper are also presented in Table 2 to show locally
higher-grade intervals. Table 3 shows drill hole
locations. Figure 1 shows the location of the
drill holes on a plan map and Figure 2 shows a
cross-section through drill hole RC19-0259 and Figure
3 shows a cross-section through drill hole RC19-0261.
Table 1 - 0.5% Cu cut-off with maximum 3 m internal waste – Minimum 1.5 m interval
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Co
(%)
|
RC19-0257
|
391.51
|
393.27
|
1.76
|
0.70
|
0.01
|
546.20
|
549.87
|
3.67
|
1.32
|
0.02
|
587.35
|
591.74
|
4.39
|
2.60
|
0.02
|
RC19-0258
|
636.31
|
659.49
|
23.18
|
0.76
|
0.02
|
668.50
|
670.22
|
1.72
|
0.77
|
0.01
|
692.34
|
692.86
|
0.52
|
0.54
|
0.01
|
RC19-0259
|
368.05
|
370.15
|
2.10
|
0.81
|
0.01
|
497.50
|
498.96
|
1.46
|
0.80
|
0.01
|
501.99
|
506.73
|
4.74
|
0.88
|
0.00
|
512.06
|
568.20
|
56.14
|
1.81
|
0.01
|
647.16
|
648.83
|
1.67
|
0.51
|
0.01
|
718.11
|
719.12
|
1.01
|
0.91
|
0.01
|
802.16
|
804.62
|
2.46
|
0.53
|
0.00
|
RC19-0261
|
304.55
|
307.43
|
2.88
|
2.63
|
0.00
|
335.80
|
337.54
|
1.74
|
0.57
|
0.01
|
345.20
|
347.79
|
2.59
|
0.64
|
0.01
|
355.09
|
356.77
|
1.68
|
0.58
|
0.03
|
362.92
|
364.98
|
2.06
|
0.62
|
0.02
|
371.50
|
373.38
|
1.88
|
0.94
|
0.02
|
387.39
|
422.40
|
35.01
|
1.98
|
0.03
|
426.64
|
442.63
|
15.99
|
2.02
|
0.01
|
480.24
|
481.96
|
1.72
|
0.94
|
0.01
|
489.20
|
492.42
|
3.22
|
0.71
|
0.01
|
526.57
|
580.64
|
54.07
|
1.11
|
0.02
|
584.57
|
586.44
|
1.87
|
0.73
|
0.00
|
651.90
|
655.01
|
3.11
|
1.84
|
0.03
|
661.57
|
690.61
|
29.04
|
1.47
|
0.04
|
754.11
|
754.91
|
0.80
|
1.05
|
0.02
|
758.11
|
760.48
|
2.37
|
0.85
|
0.01
|
Table 2 - 1.5% Cu cut-off with maximum 3 m internal waste – Minimum 1.5 m interval
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Co
(%)
|
RC19-0257
|
588.72
|
591.74
|
3.02
|
3.10
|
0.03
|
RC19-0258
|
654.00
|
655.59
|
1.59
|
1.67
|
0.06
|
RC19-0259
|
505.05
|
506.73
|
1.68
|
1.61
|
0.01
|
521.90
|
530.89
|
8.99
|
3.18
|
0.01
|
534.07
|
539.26
|
5.19
|
2.73
|
0.01
|
548.32
|
549.74
|
1.42
|
2.28
|
0.00
|
552.81
|
564.89
|
12.08
|
2.25
|
0.01
|
RC19-0261
|
306.32
|
307.43
|
1.11
|
5.14
|
0.00
|
391.12
|
400.14
|
9.02
|
2.50
|
0.06
|
403.56
|
420.43
|
16.87
|
2.31
|
0.03
|
428.41
|
441.28
|
12.87
|
2.32
|
0.02
|
531.32
|
542.04
|
10.72
|
1.69
|
0.04
|
554.33
|
559.70
|
5.37
|
1.89
|
0.01
|
576.81
|
578.51
|
1.70
|
1.55
|
0.03
|
651.90
|
653.80
|
1.90
|
2.38
|
0.03
|
667.97
|
670.69
|
2.72
|
3.51
|
0.17
|
682.96
|
690.61
|
7.65
|
2.23
|
0.05
|
Table 3 – Bornite and Sunshine Drill Hole Locations
|
East
(m)
|
North
(m)
|
Elevation
(m)
|
Azimuth
|
Dip
|
RC19-0257
|
590151
|
7440397
|
242
|
206
|
-75
|
RC19-0258
|
589585
|
7440733
|
203
|
206
|
-80
|
RC19-0259
|
590229
|
7439961
|
293
|
215
|
-67
|
RC19-0261
|
589847
|
7440643
|
219
|
206
|
-75
|
SC19-019
|
601748
|
7457923
|
776
|
0
|
-90
|
Mineralization within the Bornite deposit occurs as a series of
"Reefs" hosted by both the Upper and Lower Bornite Carbonate
sequences separated by generally unmineralized phyllite units. The
Cu-Co mineralization at Bornite occurs in three distinct carbonate
zones, the Upper Reef, the Lower Reef, and the South Reef.
All three zones were drill tested this year.
Mineralization is typically observed as breccia matrix
replacement and is generally dominated by chalcopyrite and
sometimes by bornite with chalcocite – particularly in the
higher-grade zones. Mineralization can also be observed as
vein and replacement zones containing chalcopyrite and
calcite/dolomite gangue. These styles of mineralization were
observed in all holes mentioned in this press release with bornite,
chalcocite mineralization observed in RC19-0261, and minorly within
RC19-0257; and chalcopyrite dominating mineralization observed in
RC19-258 and RC19-0259.
Sunshine Prospect
At Sunshine, which is located approximately eight miles (13
kilometers) from the Arctic Project, the Company drilled six holes
comprising 1,357 meters.
The Sunshine prospect lies within a north-facing alpine cirque
west of the Shungnak River and just south of the eastward flowing
Sunshine Creek. The Ambler
VMS-style mineralization was discovered by Bear Creek Mining
Company (BCMC) in 1969 and is exposed on an east trending
ridge. The rock units exposed are typical of the Ambler
Schist sequence that hosts the Arctic deposit and include quartz
+/- feldspar and chlorite schist, graphitic and quartz graphitic
schist, marble, and calcareous schist. Massive and
semi-massive sulphide mineralization, consisting of chalcopyrite,
sphalerite, galena, and tetrahedrite/tennantite, occurs in 0.1
meter to 8-meter bands generally at a contact between graphitic and
calcareous schist. Three mineralized horizons, each
consisting of two sulphide layers, are limbs of recumbent synformal
and antiformal closures with the antiformal fold nose eroded away
to the northeast and the fold opening to the southwest. The
new horizon listed in Tables 4 and 5 and displayed in
Figure 4 may represent a structurally higher fourth
recumbent fold limb.
Results for Sunshine are presented in Table 4 at a cutoff grade
of 1.5% copper equivalent. All the intersected widths are
close to normal to stratigraphy and therefore can be considered to
be true widths. Results at a more selective higher-grade cutoff of
2.5% copper equivalent are also presented in Table 5 to show
locally higher-grade intervals. Table 6 shows the drill hole
location. Figure 4 shows the location of the drill
holes on a plan map and Figure 5 shows a cross-section
through drill hole SC19-019. Of note is the discovery of a new zone
of high-grade polymetallic mineralization within SC19-019.
Table 4 - 1.5% Cu Eq cut-off* with maximum 2 m internal waste – Minimum 1.5 m interval
Hole
|
Zone
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Zn
(%)
|
Pb
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
CuEq
(%)*
|
SC19-019
|
New
|
57.00
|
66.14
|
9.14
|
3.02
|
1.42
|
0.27
|
0.14
|
24.65
|
3.95
|
1
|
68.85
|
72.15
|
3.30
|
1.68
|
1.77
|
0.47
|
0.12
|
27.57
|
2.82
|
2
|
98.81
|
102.54
|
3.73
|
4.74
|
0.97
|
0.13
|
0.15
|
28.96
|
5.51
|
3
|
122.36
|
125.40
|
3.04
|
0.75
|
1.40
|
0.35
|
0.08
|
21.02
|
1.63
|
4
|
138.17
|
146.05
|
7.88
|
2.23
|
5.62
|
1.10
|
0.18
|
46.95
|
5.23
|
* Assumptions used in
USD for the copper equivalent calculation were metal prices of
$2.90/lb copper, $1.10/lb zinc, $0.90/lb lead $1,250/oz Gold, and
$18/oz Silver and recovery is assumed to be 100% as no
metallurgical test data is available. The following equation was
used to calculate copper equivalence: CuEq = Copper (%) + (Zinc (%)
x 0.379) +(lead (%) x 0.310) + (Gold (g/t) x 0.629) + (Silver (g/t)
x 0.009).
|
Table 5 - 2.5% Cu Eq cut-off* with maximum 2 m internal waste – Minimum 1.5 m interval
Hole
|
Zone
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Zn
(%)
|
Pb
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
CuEq
(%)*
|
SC19-019
|
New
|
57.00
|
65.06
|
8.06
|
3.28
|
1.47
|
0.27
|
0.15
|
25.64
|
4.25
|
1
|
68.85
|
72.15
|
3.30
|
1.68
|
1.77
|
0.47
|
0.12
|
27.57
|
2.82
|
2
|
98.81
|
102.54
|
3.73
|
4.74
|
0.97
|
0.13
|
0.15
|
28.96
|
5.51
|
4
|
138.17
|
146.05
|
7.88
|
2.23
|
5.62
|
1.10
|
0.18
|
46.95
|
5.23
|
* Assumptions used in
USD for the copper equivalent calculation were metal prices of
$2.90/lb copper, $1.10/lb zinc, $0.90/lb lead $1,250/oz Gold, and
$18/oz Silver and recovery is assumed to be 100% as no
metallurgical test data is available. The following equation was
used to calculate copper equivalence: CuEq = Copper (%) + (Zinc (%)
x 0.379) +(lead (%) x 0.310) + (Gold (g/t) x 0.629) + (Silver (g/t)
x 0.009).
|
QA/QC Program Bornite/Sunshine
The drill program, sampling protocol, and data verification were
managed by qualified persons employed by the Company. Diamond drill
holes were typically collared at PQ (internal diameter of 85
millimeters) and reduced to HQ (internal diameter of 63.5
millimeters) during the drilling process for the Bornite holes and
collared and drilled to depth HQ for the Sunshine holes.
Samples were collected using a 0.2-metre minimum length, a
2.5-metre maximum length and a 1.9-metre average sample length for
Bornite and a 1.5-metre average sample length for Sunshine. Drill
core recovery averaged 93% for Bornite drill core and 96% for
Sunshine core. Three quality control samples (one blank, one
standard and one duplicate) were inserted into each batch of 20
samples. 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 an independent facility
certified as ISO 9001:2008 and accredited to ISO / IEC 17025:2005
from the Standards Council of Canada. The Company will submit 5% of the
assay intervals from prospective lithologies to an independent
check assay lab.
Qualified Persons
Andrew W. West, Certified
Professional Geologist, Exploration Manager for Trilogy Metals, 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, further drilling activity and the results
thereof, and the anticipated activity at the UKMP Projects, are
forward-looking statements. The assay results disclosed 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. 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, permitting
timelines, requirements for additional capital, government
regulation of mining operations, environmental risks, unanticipated
reclamation expenses, 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; the need for cooperation of
government agencies and native groups in the development and
operation of properties; the need to obtain permits and
governmental approvals; 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.
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SOURCE Trilogy Metals Inc.