お知らせ • Feb 15
Trilogy Metals Inc. Announces Updated Feasibility Study Results for the Arctic Project
Trilogy Metals Inc. announced the updated results of its Feasibility Study for the Arctic Copper-Zinc-Lead-Silver-Gold Project in the Ambler Mining District of northwestern Alaska. The Arctic Project is held by Ambler Metals LLC, the joint venture operating company equally owned by Trilogy and a wholly-owned subsidiary of South32 Limited, Neither South32 nor Ambler Metals has reviewed the results of the 2023 FS. The 2023 FS was prepared on a 100% ownership basis, of which Trilogy's share is 50%. All amounts are in U.S. dollars unless otherwise stated. Trilogy Metals has updated its feasibility study on the Arctic Project in response to the Company's regulatory requirements to make disclosure and file a SK-1300 technical report summary on S-K 1300 standards with the U.S. Securities and Exchange Commission as part of the Company's annual filings on Form 10-K. This news release presents the results of the Arctic feasibility study prepared in accordance with National Instrument 43-101. The Company has updated capital and operating costs to the fourth quarter of 2022, along with long-term commodity prices. The 2023 FS describes the technical and economic viability of establishing a conventional open-pit copper-zinc-lead-silver-gold mine-and-mill complex for a 10,000 tonne-per-day operation for a minimum 13-year mine life. The 2023 FS utilizes long-term metal prices of $3.65/lb for copper, $1.15/lb for zinc, $1.00/lb for lead, $1,650/oz for gold and $21.00/oz for silver in its economic analysis. The 2023 FS was prepared to meet the definitions and standards under NI 43-101 by independent consultant, Ausenco Engineering Canada Inc. of Vancouver, British Columbia, Canada. The Company also engaged Wood Canada Limited to complete the mineral resources and mineral reserve estimation and mine planning, SRK Consulting (Canada) Inc. to complete pit geotechnics and hydrogeology, tailings and waste design, hydrology and water management studies, and Brown and Caldwell to complete water treatment facility. The technical report titled "Arctic NI 43-101 Technical Report on Feasibility Study" with an effective date of January 20, 2023. The 2023 FS is based on a 10,000-tonne-per-day open-pit mining rate with a conventional milling and flotation process that results in the production of separate copper, zinc and lead concentrates. Based on the feasibility-level metallurgical work on the sulphide mineralization, the average recoveries are projected to be 92.1% for copper, 88.5% for zinc and 61.3% for lead, in their respective concentrates. Life-of-mine strip ratio (waste:ore) is approximately 7.3 to 1. The 2023 FS forecasts an average annual payable production to be 149 million pounds of copper, 173 million pounds of zinc, 26 million pounds of lead, 32,538 ounces of gold and 2.8 million ounces of silver. Total life-of-mine 13-year production is projected at 1.9 billion pounds of copper, 2.2 billion pounds of zinc, 335 million pounds of lead, 423,000 ounces of gold and 36 million ounces of silver. Initial capital expenditure is $1,176.8 million and sustaining capital is $114.4 million for total estimated capital expenditures of $1,291.2 million. In addition, closure and reclamation costs are estimated at $428.4 million. Estimated pre-tax and after-tax payback of initial capital are 2.9 years and 3.1 years respectively. Estimated cash costs are $0.72/lb of payable copper (cash costs include on-site mining and processing costs, road tolls and maintenance, transport, royalties, and is net of by-product credits). Total "all-in" cash costs (initial/sustaining capital, operating, closure costs and is net of by-product metal credits) are estimated at $1.61/lb of payable copper. The 2023 FS has been prepared on a 100% ownership basis. The Arctic Project is held by Ambler Metals, the joint venture operating company equally owned by Trilogy and South32. NANA Regional Corporation Inc. has the right, following a construction decision, to elect to purchase a 16% to 25% direct interest in the Arctic Project or, alternatively, to receive a 15% Net Proceeds Royalty. This 2023 FS does not include the impact on Trilogy Metals if NANA elects to purchase an interest in the Arctic Project or, alternatively, the impact on Trilogy Metals and the Arctic Project if the NPR becomes applicable. The 2023 FS does include the 1.0% Net Smelter Royalty to be granted to NANA in exchange for a surface use agreement.