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): November 7, 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 7.01
Regulation FD Disclosure
On
November 7, 2019, Trilogy Metals Inc. (the “Company”) issued a press release reporting the second and final set of
assay results from this summer’s exploration diamond drilling program at the Sunshine prospect. 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.
TRILOGY METALS INC. |
|
|
|
Dated:
November 7, 2019 |
By: |
/s/ Elaine Sanders |
|
|
Elaine Sanders, Chief Financial Officer |
Exhibit 99.1
Trilogy Metals Reports Drilling Results
from the Sunshine Prospect
VANCOUVER, Nov. 7, 2019 /CNW/ - 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 Sunshine prospect, which
is part of the Company's Upper Kobuk Mineral Projects ("UKMP") located in the Ambler mining district of Northwest Alaska.
The Company also is pleased to provide an update
on the permitting of the Ambler Mining District Industrial Access Project ("AMDIAP") otherwise known as the Ambler Road.
Based on the Versatile Time Domain Electromagnetic
("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 from five drill holes from the Sunshine prospect comprise 1,196
meters of the 1,357-meter six-hole drill campaign at this prospect.
Drilling Highlights – Sunshine Prospect
At a cutoff grade of 1.5% copper equivalent*
the results from the Sunshine prospect are as follows:
- SC19-018 intersected four mineralized intervals of:
- 5.2 metres with a copper equivalent grade of 3.93%
(2.08% copper, 3.13% zinc, 0.63% lead, 0.15 g/t gold and 41.64 g/t silver);
- 6.3 metres with a copper equivalent grade of 2.38%
(1.63% copper, 1.45% zinc, 0.09% lead, 0.07 g/t gold and 13.38 g/t silver);
- 7.2 metres with a copper equivalent grade of 1.69%
(0.72% copper, 2.18% zinc, 0.21% lead, 0.03 g/t gold and 6.64 g/t silver); and
- 1.1 metres with a
copper equivalent grade of 1.71% (1.53% copper, 0.35% zinc, 0.01% lead, 0.03 g/t gold and 3.67 g/t silver).
- SC19-020 intersected four mineralized intervals of:
- 3.4 metres with a copper equivalent grade of 6.54%
(4.15% copper, 3.42% zinc, 0.83% lead, 0.26 g/t gold and 74.35 g/t silver);
- 1.6 metres with a copper equivalent grade of 3.77%
(1.43% copper, 1.65% zinc, 0.40% lead, 0.06 g/t gold and 23.30 g/t silver);
- 4.9 metres with a copper equivalent grade of 5.77%
(4.47% copper, 3.42% zinc, 0.01% lead, 0 g/t gold and 0.12 g/t silver); and
- 2.7 metres with a
copper equivalent grade of 3.87% (3.70% copper, 0.44% zinc, 0% lead, 0 g/t gold and 0.40 g/t silver).
- SC19-021 intersected one mineralized interval of:
- 9.7 metres with a
copper equivalent grade of 6.10% (3.93% copper, 3.00% zinc, 0.77% lead, 0.22 g/t gold and 73.10 g/t silver).
- SC19-022 intersected three mineralized intervals of:
- 1.4 metres with a copper equivalent grade of 5.90%
(2.89% copper, 4.87% zinc, 1.41% lead, 0.17 g/t gold and 68.30 g/t silver);
- 4.2 metres with a copper equivalent grade of 1.85%
(0.34% copper, 2.28% zinc, 1.07% lead, 0.07 g/t gold and 30.63 g/t silver); and
- 15.3 metres with a
copper equivalent grade of 3.08% (1.35% copper, 2.91% zinc, 0.78% lead, 0.16 g/t gold and 32.58 g/t silver).
- SC19-023 intersected one mineralized interval of:
- 5.0 metres with a copper equivalent grade of 2.09%
(0.87% copper, 1.92% zinc, 0.66% lead, 0.10 g/t gold and 24.69 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). |
James Gowans, Interim President and CEO of
Trilogy Metals commented, "The grades and widths of mineralization found at the Sunshine prospect are very similar to what
we see at the Arctic project and I expect that with more drilling that we can delineate more mineralization at Sunshine. I also
note that the Sunshine prospect is just one of dozens of prospects found within the 70-mile (100 kilometer) long Ambler VMS Belt
which has the potential to be one of the most prolific mining districts in the world."
Ambler Mining District Industrial Access
Project
On October 29, 2019 the comment period closed
for the AMDIAP Draft Environmental Impact Statement ("EIS"). The Bureau of Land Management ("BLM"), which is
the lead agency, is now incorporating the comments into the final EIS. The BLM is expected to provide an update on the timing of
the completion of the final EIS at a later date. The Company wishes to express its sincere appreciation to the BLM for making progress
on the EIS process. For more information on the permitting process for the AMDIAP please go to BLM Ambler Road.
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. On September 10, 2019,
the Company released the results from drill hole SC19-019 which contained copper-zinc-lead-gold-silver mineralization (For more
information on this press release please go to TMQ Bornite Sunshine Drilling September 10 2019.
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 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 graphitic quartz schist, marble and calcareous schist. Massive and semi-massive sulphide mineralization, consisting of
chalcopyrite, sphalerite, galena, and tetrahedrite/tennantite, occurs in 0.1 metre to 8-metre bands generally at a contact between
graphitic and calcareous schist.
Results for Sunshine are presented in Table
1 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 2 to show locally higher-grade intervals. Table 3 shows the 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 holes SC19-018,
SC19-021 and SC19-022.
Table 1 - 1.5% Cu Eq cut-off* with maximum
2 m internal waste – Minimum 1.0 m interval
Hole |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Zn (%) |
Pb (%) |
Au (g/t) |
Ag (g/t) |
CuEq (%)* |
SC19-018 |
139.52 |
144.76 |
5.24 |
2.08 |
3.13 |
0.63 |
0.15 |
41.64 |
3.93 |
238.72 |
245.06 |
6.34 |
1.63 |
1.45 |
0.09 |
0.07 |
13.38 |
2.38 |
247.86 |
255.06 |
7.20 |
0.72 |
2.18 |
0.21 |
0.03 |
6.64 |
1.69 |
260.46 |
261.60 |
1.14 |
1.53 |
0.35 |
0.01 |
0.03 |
3.67 |
1.71 |
SC19-020 |
176.37 |
179.74 |
3.37 |
4.15 |
3.42 |
0.83 |
0.26 |
74.35 |
6.54 |
188.55 |
190.10 |
1.55 |
1.43 |
1.65 |
0.40 |
0.06 |
23.30 |
3.77 |
204.15 |
209.09 |
4.94 |
4.47 |
3.42 |
0.01 |
0.00 |
0.12 |
5.77 |
219.30 |
221.98 |
2.68 |
3.70 |
0.44 |
0.00 |
0.00 |
0.40 |
3.87 |
SC19-021 |
146.62 |
156.28 |
9.66 |
3.93 |
3.00 |
0.77 |
0.22 |
73.10 |
6.10 |
SC19-022 |
114.12 |
115.47 |
1.35 |
2.89 |
4.87 |
1.41 |
0.17 |
68.30 |
7.96 |
130.40 |
134.61 |
4.21 |
0.34 |
2.28 |
1.07 |
0.07 |
30.63 |
1.85 |
143.73 |
159.01 |
15.28 |
1.35 |
2.91 |
0.78 |
0.16 |
32.58 |
3.08 |
SC19-023 |
163.50 |
168.51 |
5.01 |
0.87 |
1.92 |
0.66 |
0.10 |
24.69 |
2.09 |
|
* 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 2 - 2.5% Cu Eq cut-off* with maximum
2 m internal waste – Minimum 1.0 m interval
|
From (m) |
To (m) |
Length (m) |
Cu (%) |
Zn (%) |
Pb (%) |
Au (g/t) |
Ag (g/t) |
CuEq (%)* |
SC19-018 |
139.52 |
144.76 |
5.24 |
2.08 |
3.13 |
0.63 |
0.15 |
41.64 |
3.93 |
241.80 |
244.26 |
2.46 |
2.19 |
2.97 |
0.13 |
0.10 |
20.90 |
3.61 |
253.64 |
255.06 |
1.42 |
1.16 |
3.78 |
0.13 |
0.02 |
6.50 |
2.70 |
SC19-020 |
176.37 |
179.74 |
3.37 |
4.15 |
3.42 |
0.83 |
0.26 |
74.35 |
6.54 |
204.15 |
209.09 |
4.94 |
4.47 |
3.42 |
0.01 |
0.00 |
0.12 |
5.77 |
219.30 |
221.98 |
2.68 |
3.70 |
0.44 |
0.00 |
0.00 |
0.40 |
3.87 |
SC19-021 |
146.62 |
156.28 |
9.66 |
3.93 |
3.00 |
0.77 |
0.22 |
73.10 |
6.10 |
SC19-022 |
114.12 |
115.47 |
1.35 |
2.89 |
4.87 |
1.41 |
0.17 |
68.30 |
7.96 |
143.73 |
159.01 |
15.28 |
1.35 |
2.91 |
0.78 |
0.16 |
32.58 |
3.08 |
SC19-023 |
163.50 |
168.51 |
5.01 |
0.87 |
1.92 |
0.66 |
0.10 |
24.69 |
2.09 |
|
* 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 3 – Sunshine Drill Hole Locations
Hole |
East (m) |
North (m) |
Elevation (m) |
Azimuth |
Dip |
Length (m) |
SC19-018 |
601748 |
7457922 |
776 |
15 |
-52 |
296 |
SC19-020 |
601863 |
7457873 |
766 |
70 |
-48 |
230 |
SC19-021 |
601862 |
7457872 |
766 |
70 |
-79 |
213 |
SC19-022 |
601692 |
7457866 |
777 |
345 |
-80 |
204 |
SC19-023 |
601692 |
7457868 |
776 |
345 |
-45 |
253 |
Figure 1 - Map Showing Location of 2019 Drilling
Program at Sunshine (CNW Group/Trilogy Metals Inc.)
Figure 2 - Cross Section of Sunshine Drilling
Showing Drilling Results (CNW Group/Trilogy Metals Inc.)
QA/QC Program
The drill program, sampling protocol, and data
verification were managed by qualified persons employed by the Company. Diamond drill holes were typically 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 1.5-metre average sample length. Drill core recovery averaged 95% 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
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 Inc., is a Qualified Person as defined by National Instrument 43-101. Mr. West has reviewed
the technical and scientific 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, the Company's
ability to delineate additional mineralization at the Sunshine prospect and the timing and status of the final EIS, 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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/trilogy-metals-reports-drilling-results-from-the-sunshine-prospect-300953628.html
SOURCE Trilogy Metals Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/November2019/07/c6965.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 06:30e 07-NOV-19
This regulatory filing also includes additional resources:
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