Trilogy-South32 JV targets permit submission for Alaska copper deposit next year

Core Viewpoint - The joint venture between Trilogy Metals and South32 is focusing on advancing the Ambler mining district in Alaska, with significant developments planned for 2026, including a $35 million work program to enhance the Upper Kobuk Mineral Projects. Group 1: Project Development - Trilogy Metals announced a $35 million work program for 2026 aimed at advancing the Upper Kobuk Mineral Projects, which include the Arctic and Bornite copper-rich deposits within a 1,900 sq.-km land package [2] - Exploration activities in 2026 will focus on the Arctic deposit, including geotechnical drilling to support mine design and infrastructure planning, while the Bornite project camp will be prepared for multi-year use [3] - The mine permitting process for the Arctic project is set to begin in 2026, leveraging federal expedited programs like FAST-41 [4] Group 2: Management and Community Engagement - Ambler plans to establish an independent management team in 2026 to oversee the next stages of the UKMP, focusing on permitting, technical programs, and community engagement [5] Group 3: Financial and Government Support - Trilogy has budgeted approximately $5 million for compliance and oversight of its investment in Ambler, and received $35.6 million from the US government to support UKMP development [7] - The US government has reinstated the critical access road permits in the Ambler mining district, which were previously revoked [8] Group 4: Resource and Economic Potential - The Arctic deposit is one of the highest-grade copper deposits globally, with 35.7 million indicated tonnes averaging over 5% copper equivalent, containing an estimated 2.34 billion lb. of copper [9] - A 2023 feasibility study for the Arctic deposit projected a 13-year mine life with annual payable copper production of 149 million lb., and an after-tax net present value of $1.1 billion [10] - The Bornite deposit is projected to have a 17-year mine life with total copper production of 1.9 billion lb., and an after-tax NPV of $393.9 million [11]