Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2025resource reserve update▲ GoodMajor
Filed NI 43-101 and S-K 1300 technical reports formalizing the Bornite Preliminary Economic Assessment previously announced, advancing the copper-focused Bornite project (held via Ambler Metals) toward a more defined development case, independent of any South32 review.
Ambler Metals released a significantly larger Bornite resource estimate: 41.7Mt indicated at 1.04% copper (955M lbs) plus 93.9Mt inferred at 0.98% copper (2.0 billion lbs), and a further high-grade 50.3Mt inferred zone (South Reef/Ruby Zone) at 2.97% copper (3.3 billion lbs) below the main pit - a major expansion of the deposit's known scale.
Announced the voluntary filing of the Arctic Feasibility Study with US and Canadian regulators, confirming the project (now under the Trilogy/South32 Ambler Metals joint venture) had advanced to feasibility-level engineering.
Ambler Metals filed a full NI 43-101 Feasibility Study technical report for the Arctic copper-zinc-lead-silver-gold project, the most advanced level of technical/economic study yet completed on the deposit.
South32 exercised its 2017 option to form the 50/50 joint venture over the Upper Kobuk Mineral Projects, agreeing to pay Trilogy roughly $145 million in exchange for contributing all of Trilogy's UKMP assets - the largest capital commitment in the project's history, expected to close in February 2020.
Reported the final assay results from the 2019 Bornite drill campaign: several holes returned strong copper intercepts (including 78.9m at 2.35% copper), confirming and extending known mineralization from prior step-out drilling.
Filed consultant consent letters and related exhibits authorizing use of the Arctic pre-feasibility study technical report in the company's SEC registration statements.
Filed the NI 43-101 technical report for the Arctic Pre-Feasibility Study, confirming the technical and economic viability of a conventional 10,000 tonne-per-day open-pit copper-zinc-lead-silver-gold mine and mill at Arctic, with no material changes from the results announced in February 2018.
Filed the formal NI 43-101 technical report backing the April 2017 Arctic resource update, the standard disclosure required to support the mineral resource figures already announced.
Engaged Ausenco, Amec Foster Wheeler and SRK Consulting to carry out the Arctic pre-feasibility study's engineering, mine-planning, and tailings/water-management work, targeting completion in Q1 2018.
In-fill drilling drove a 50% increase in Indicated resource tonnes at the high-grade Arctic deposit (36.0Mt at 3.07% copper, 4.23% zinc, plus gold/silver/lead credits - about 2.4 billion lbs contained copper and 3.4 billion lbs contained zinc), with over 40% more contained metal than the prior estimate and a deposit management called insensitive to cutoff-grade or price assumptions.
Approved a $7.1 million 2017 budget to launch a pre-feasibility study on the high-grade Arctic deposit (northwest Alaska), a polymetallic copper-zinc-lead-gold-silver VMS deposit averaging 6% copper equivalent, targeting completion in Q1 2018.
Filed a new NI 43-101 technical report on the Bornite Deposit, incorporating the recent re-sampling program into an updated resource picture for the project.
NovaCopper's re-sampling and re-assaying of 33 historical drill holes at the Bornite Project's Ruby Creek zone confirmed previously known high-grade copper mineralization and identified additional lower-grade material not previously sampled, feeding into a planned 2014 resource update.