VANCOUVER, March 27, 2020 /CNW/ - Trilogy Metals Inc.
(TSX/NYSE American: TMQ) ("Trilogy Metals", "Trilogy"
or the "Company") is pleased to report the public release of the
Final Environmental Impact Statement ("EIS") by the United States
Bureau of Land Management ("BLM") for the Ambler Mining District
Industrial Access Project or AMDIAP (Ambler Access Road).
Ambler Mining District Industrial Access Project
("AMDIAP")
On March 27, 2020, the BLM, the
lead federal agency for the permitting of the AMDIAP, released the
Final EIS for the AMDIAP. This follows on the Draft EIS
completed on August 23, 2019.
The final step in the permitting process for the AMDIAP is the
issuance of the Record of Decision by the BLM and the issuance of
the Clean Water Act (CWA) Section 404 permit from the United States
Army Corp. of Engineers. The Company expects these two items to be
issued concurrently within the next couple of months.
For more information on the Final EIS please visit the BLM
website at https://www.blm.gov/alaska.
James ("Jim") Gowans, interim
President and CEO of Trilogy Metals commented, "I would like to
congratulate the BLM for getting the Final EIS over the line. The
completion of the Final EIS marks a critical milestone for the
permitting process of the Ambler road which will unlock the
incredible mineral potential of the Ambler Mining
District. Trilogy, through its joint venture company,
Ambler Metals LLC, is already discussing the next steps for the
financing and development of the road with the Alaska Industrial
Development Export Authority ("AIDEA"). The mandate of AIDEA is to
advance economic growth and diversification in Alaska by providing various means of financing
and investment."
About Trilogy Metals
Trilogy Metals Inc. is a metals exploration and development
company which holds a 50 percent interest in Ambler Metals LLC
which has a 100 percent interest in the UKMP in northwestern
Alaska. On December 19, 2020 South32, which is a globally
diversified mining and metals company, exercised its option to form
a 50/50 joint venture with Trilogy. The UKMP is located within the
Ambler Mining District which 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 land package that spans approximately 172,636
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, 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; the expected timing for the Record
of Decision and Section 404 permit; 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 our assumptions with respect to the
likelihood and timing of the AMDIAP; 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 and other
risks and uncertainties disclosed in the Company's Annual Report on
Form 10-K for the year ended November 30,
2019 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.