VANCOUVER, Oct. 28, 2019 /PRNewswire/ - Trilogy
Metals Inc. (TSX/NYSE American: TMQ) ("Trilogy
Metals" or the "Company") is pleased to announce the second and
final set of assay results from this summer's exploration diamond
drilling program at the Bornite Project, which is part of the
Company's Upper Kobuk Mineral Projects ("UKMP") located in the
Ambler mining district of Northwest Alaska. All amounts are
in USD.
The six Bornite drill holes reported below comprise
approximately 4,596 meters from the 7,610-meter drill campaign
which was completed in September. The results from the first four
holes at Bornite were announced on September
10, 2019. Three of the six drill holes contain significant
copper mineralization and were designed as infill holes to the 300
to 400-meter step-out holes completed in 2017 and 2018. Whereas,
the other three holes are step out exploration holes.
Drilling Highlights – Bornite Project
At a cutoff grade of 0.5% copper the most recent drill results
from the Bornite Project are as follows:
- RC19-0264 intersected 20 mineralized intervals including:
-
- 78.9 metres averaging 2.35% copper;
- 44.7 metres averaging 1.29% copper;
- 48.1 metres averaging 1.13% copper; and
- 15.5 metres averaging 3.24% copper.
- RC19-0265 intersected 11 mineralized intervals including:
-
- 16.3 metres averaging 2.93% copper;
- 24.3 metres averaging 1.52% copper; and
- 12. 4 metres averaging 1.95% copper.
- RC19-260 intersected eight mineralized intervals
including:
-
- 8.1 metres averaging 1.75% copper.
- The remaining three holes (RC19-0262, RC19-0263 and RC19-0266),
which are exploration holes, did not encounter any significant
mineralization.
At a higher cutoff grade of 1.5% copper, the most recent drill
results from the Bornite Project are as follows:
- RC19-0264 intersected 18 mineralized intervals including:
-
- 22.8 metres averaging 2.86% copper;
- 5.1 metres averaging 11.01% copper;
- 7.2 metres averaging 5.98% copper;
- 13.0 metres averaging 1.92% copper; and
- 6.7 metres averaging 2.14% copper.
- RC19-0265 intersected 10 mineralized intervals including:
-
- 8.7 metres averaging 4.58% copper;
- 12.4 metres averaging 2.01% copper; and
- 8.9 metres averaging 2.38% copper.
James Gowans, Interim President
and CEO of Trilogy Metals commented, "One of the factors that drew
me to become involved with the Company is the fact that the Bornite
Project is one of the highest-grade copper projects in the world.
As an engineer, who had constructed high-quality mines throughout
the world, the Bornite Project has many affinities to some of the
world class assets that I have worked on, specifically the size and
grade. I look forward to advancing this project, which nicely
complements our other high-grade project at Arctic."
The 2019 drilling budget of $9.2
million for Bornite was funded entirely by South32 Limited
(ASX, LSE, JSE: S32; ADR: SOUHY) ("South32"), which funding
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.
This year's program at Bornite was comprised of 10 drill holes
totaling approximately 7,610 metres through a combination of infill
and expansion drill holes in and around the known resource. The
first set of results from four drill holes was released on
September 10, 2019
(https://trilogymetals.com/news/2019/trilogy-metals-reports-drilling-results-from-newly-discovered-zone-at-the-sunshine-prospect-and-drilling-results-at-the-bornite-project).
RC19-0262, RC19-0263 and RC19-0266 were all exploration holes
designed to test targets identified by various geophysical methods
away from the existing resource. RC19-0262 was designed to
test the far east side of the deposit following up on a
district-wide Versatile Time Domain Electromagnetic ("VTEM")
anomaly identified during the spring 2019 VTEM/Z – Axis Tipper
Electromagnetic ("ZTEM") survey; RC19-0263, on the far west side of
the deposit was testing a gravity anomaly identified during the
2017 field program; and RC19-0266 was testing the south-end of the
South Reef mineralization where copper mineralization (azurite,
malachite) is observed at the surface of Iron Mountain.
On September 1, 2019, Trilogy
Metals completed its summer exploration drilling program at Bornite
and Sunshine and geotechnical activities at its Arctic Project.
Additional drill results from the Arctic Project and the Sunshine
prospect are anticipated to be released over the next few weeks 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 but hole RC19-0264 were
drilled normal to stratigraphy and therefore the intercepts can be
considered to be true widths. Hole RC19-0264 was drilled at a
northeast azimuth to intersect a moderately southwest dipping
mineralized carbonate vein set identified in previous oriented
drill holes and is oblique to the main stratigraphically controlled
mineralization. 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 RC19-0264 and Figure
3 shows a cross-section through drill hole RC19-0265.
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
(%)
|
RC19-0260
|
652.05
|
655.77
|
3.72
|
0.62
|
0.010
|
664.59
|
672.69
|
8.1
|
1.75
|
0.010
|
814.12
|
815.69
|
1.57
|
0.82
|
0.001
|
856.66
|
858.62
|
1.96
|
0.55
|
0.014
|
864.29
|
865.93
|
1.64
|
0.69
|
0.013
|
869.3
|
871.54
|
2.24
|
0.72
|
0.019
|
899.23
|
900.85
|
1.62
|
0.62
|
0.004
|
907.59
|
911.83
|
4.24
|
1.37
|
0.015
|
RC19-0262
|
No Significant
Mineralization
|
RC19-0263
|
No Significant
Mineralization
|
RC19-0264
|
228.98
|
231.35
|
2.37
|
0.75
|
0.001
|
383.4
|
391.68
|
8.28
|
0.73
|
0.020
|
394.92
|
410.83
|
15.91
|
0.53
|
0.015
|
420.02
|
468.13
|
48.11
|
1.13
|
0.020
|
471.88
|
516.61
|
44.73
|
1.29
|
0.015
|
522.41
|
530.35
|
7.94
|
0.81
|
0.011
|
533.4
|
543.71
|
10.31
|
0.89
|
0.008
|
549.16
|
595.1
|
45.94
|
0.81
|
0.008
|
600.04
|
603.5
|
3.46
|
0.54
|
0.029
|
610.88
|
629.61
|
18.73
|
0.59
|
0.008
|
640.25
|
643.81
|
3.56
|
0.70
|
0.010
|
648
|
653.64
|
5.64
|
0.46
|
0.013
|
660.04
|
676.3
|
16.26
|
0.93
|
0.010
|
680.95
|
694.18
|
13.23
|
1.06
|
0.016
|
718.73
|
797.66
|
78.93
|
2.35
|
0.017
|
801.32
|
816.82
|
15.5
|
3.24
|
0.028
|
827.4
|
835.37
|
7.97
|
0.73
|
0.007
|
841.56
|
845.82
|
4.26
|
0.63
|
0.015
|
864.41
|
865.93
|
1.52
|
0.76
|
0.009
|
923.54
|
927.21
|
3.67
|
0.73
|
0.012
|
RC19-0265
|
520.6
|
523.34
|
2.74
|
2.82
|
0.030
|
534.51
|
542.37
|
7.86
|
1.59
|
0.004
|
560.53
|
572.92
|
12.39
|
1.95
|
0.015
|
576.8
|
580.83
|
4.03
|
2.54
|
0.014
|
594.8
|
611.09
|
16.29
|
2.93
|
0.078
|
628.19
|
629.88
|
1.69
|
0.72
|
0.005
|
633.68
|
657.93
|
24.25
|
1.52
|
0.010
|
667.67
|
678.14
|
10.47
|
0.99
|
0.007
|
682.14
|
687.45
|
5.31
|
1.85
|
0.007
|
696.83
|
698.69
|
1.86
|
2.44
|
0.002
|
RC19-0266
|
No Significant
Mineralization
|
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
(%)
|
RC19-0260
|
665.78
|
668.73
|
2.95
|
3.08
|
0.019
|
RC19-0262
|
No Significant
Mineralization
|
RC19-0263
|
No Significant
Mineralization
|
RC19-0264
|
436.79
|
449.76
|
12.97
|
1.92
|
0.036
|
475.29
|
477.29
|
2.00
|
1.75
|
0.018
|
480.43
|
485.87
|
5.44
|
1.97
|
0.008
|
488.9
|
495.58
|
6.68
|
2.14
|
0.007
|
528.61
|
530.35
|
1.74
|
1.55
|
0.009
|
537
|
538.83
|
1.83
|
1.66
|
0.007
|
559.76
|
561.82
|
2.06
|
2.22
|
0.010
|
661.77
|
663.58
|
1.81
|
1.59
|
0.014
|
685.95
|
687.63
|
1.68
|
1.83
|
0.018
|
722.58
|
727.99
|
5.41
|
2.44
|
0.021
|
731.52
|
733.45
|
1.93
|
2.23
|
0.008
|
740.7
|
745.24
|
4.54
|
2.29
|
0.015
|
752.86
|
775.68
|
22.82
|
2.86
|
0.032
|
781.87
|
786.99
|
5.12
|
11.01
|
0.006
|
RC19-0264
|
801.32
|
802.95
|
1.63
|
1.62
|
0.005
|
809.63
|
816.82
|
7.19
|
5.98
|
0.055
|
RC19-0265
|
520.6
|
522.27
|
1.67
|
3.71
|
0.041
|
536.06
|
537.07
|
1.01
|
9.06
|
0.004
|
564.03
|
572.92
|
8.89
|
2.38
|
0.018
|
578.51
|
580.83
|
2.32
|
3.61
|
0.021
|
598.6
|
607.32
|
8.72
|
4.58
|
0.139
|
635.51
|
637.49
|
1.98
|
2.51
|
0.020
|
645.57
|
657.93
|
12.36
|
2.01
|
0.013
|
671.82
|
673
|
1.18
|
2.68
|
0.001
|
684.03
|
687.45
|
3.42
|
2.41
|
0.005
|
696.83
|
698.69
|
1.86
|
2.44
|
0.002
|
RC19-0266
|
No Significant
Mineralization
|
Table 3 – Bornite Drill Hole Locations
Hole
|
East
(m)
|
North
(m)
|
Elevation
(m)
|
Azimuth
|
Dip
|
Length
|
RC19-0260
|
590464
|
7440760
|
319
|
206
|
-77
|
947
|
RC19-0262
|
591218
|
7439500
|
435
|
206
|
-77
|
915
|
RC19-0263
|
588910
|
7440860
|
211
|
206
|
-80
|
738
|
RC19-0264
|
589837
|
7440408
|
246
|
34
|
-65
|
960
|
RC19-0265
|
590631
|
7440377
|
292
|
206
|
-75
|
748
|
RC19-0266
|
589256
|
7438650
|
508
|
220
|
-70
|
288
|
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.
QA/QC Program Bornite
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. Samples were collected
using a 0.2-metre minimum length, a 2.5-metre maximum length and a
1.9-metre average sample length. Drill core recovery averaged 93%
for Bornite drill core. Three quality control samples (one blank,
one certified 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 is an independent company certified as ISO 9001:2008 and
accredited to ISO / IEC 17025:2005 from the Standards Council of
Canada. The assay results for the
primary and quality control samples were reviewed by an independent
database manager and passed with good inferred quality. 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
Inc., is a Qualified Person as defined by National Instrument
43-101. Mr. West has reviewed the scientific and 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 volcanogenic massive sulphide ("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, the results of drilling activity and the
advancement of the Bornite project, 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.