Ambler Metals approves $27M for Alaska project
mineral resources into the measured category. “The proposed budget is expect - ed to have a twofold positive im- pact for the company in that we will continue to de-risk the Arctic proj- ect and we will also move forward in unlocking the mineral potential within the 100-km-long VMS min - eral belt, as well as around the Bor- nite copper/cobalt deposit,” said Trilogy CEO Tony Giardini in a news release. The UKMP project has a combined resource of 8 billion pounds of cop- per, 3 billion pounds of zinc and 1 million ounces of gold equivalent. The company expects to submit permit applications under the Clean Water Act to the United States Army Corps of Engineers during the sec - ond half of 2021.
Ambler Metals plans to conduct a 7,000-meter regional exploration drill campaign at the Sunshine pros- pect and at other drill-ready targets. The drill program is expected to commence in mid-July and finish before the end of September. The drilling will be preceded by detailed geologic mapping, geochemical soil sampling, and ground geophysics. The companies announced that the JV will be led by Ambler presi - dent and CEO Ramzi Fawaz, VP op - erations Kevin Torpy and VP finance Rebecca Donald. The Ambler Metals joint venture was formed in February. Trilogy contributed all its assets associat- ed with the 172,675-hectare UKMP, including the Arctic and Bornite projects, while South32 contributed $145 million.
Joint venture eyes expansion at its Upper Kobuk site Ambler Metals, the joint venture operating company equally owned by Trilogy Metals (TSX/NYSE: TMQ) and South32 Limited (LSE: S32) ap - proved the 2021 program and bud - get of approximately $27 million for the advancement of the Upper Kobuk Mineral Projects (UKMP) in North - western Alaska. According to the company, ac- tivities will focus on an additional 7,600 meters of drilling, which will have the dual purpose of extracting additional material for metallurgi- cal work and for the conversion of
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Winter 2021
The Alaska Miner
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