Trilogy Metals Inc - TMQ STOCK NEWS

Trilogy Metals Inc. (TMQ) reported a net loss of $21.7 million for the year ending November 30, 2021, compared to a net income of $161.8 million in 2020. The significant loss was primarily due to a $175.8 million gain on asset derecognition in the previous year. Exploration expenses rose to $143,000, while total expenditures for operating activities decreased to $5.1 million. The company aims to advance its Upper Kobuk Mineral Projects with a 2022 budget of $28.5 million, which includes drilling and geological work. However, they anticipate needing additional financing for future operations.

Trilogy Metals Inc. (TMQ) announced the approval of a $30.8 million budget for the 2022 summer field activities of the Ambler Access Project (AAP) by the Alaska Industrial Development and Export Authority (AIDEA). Both AIDEA and Ambler Metals LLC will share the costs equally. AIDEA has allocated $15.4 million for field activities, matched by Ambler Metals. The project is expected to create thousands of jobs and generate over $5 billion in wages. Trilogy has invested approximately $176 million in the Ambler Mining District since 2004, aiming to develop it into a key North American copper producer.

Trilogy Metals Inc. (TSX: TMQ; NYSE American: TMQ) announced promising drilling results from the Arctic Project in Alaska. The 2021 program involved 4,131 meters across 18 holes, aiming to upgrade resource classifications and gather metallurgical data. Notably, drill hole AR21-0182 found high-grade copper and zinc over remarkable lengths, with intervals reporting copper equivalent grades up to 8.07%. CEO Tony Giardini emphasized strong assay results, reflecting the project's potential, while 12 more holes are awaited for results. Overall, these findings bolster investor confidence in Trilogy's Arctic development plans.

Trilogy Metals announced an updated mineral resource estimate for its Bornite Project in Alaska. At a 0.50% copper cut-off grade, the project has in-pit indicated resources of 41.7 million tonnes at 1.04% copper, equating to 955 million pounds of contained copper. Additionally, in-pit inferred resources are 93.9 million tonnes at 0.98% copper, totaling 2.0 billion pounds. The South Reef and Ruby Zone below-pit resources add inferred resources of 50.3 million tonnes at 2.97% copper. A technical report will be filed within 45 days, outlining these findings.

On January 11, 2022, Trilogy Metals announced a $28.5 million budget for the 2022 program and advancement of the Upper Kobuk Mineral Projects (UKMP) in Northwestern Alaska. This budget is fully funded by Ambler Metals LLC, a joint venture with South32. The program includes up to 10,000 meters of drilling, focusing on resource development at the Arctic Project and exploration targets. An independent review confirmed the permitting strategy for the Arctic Project is sound, with applications expected to be submitted in early 2022, initiating a process taking 24 to 30 months.

Trilogy Metals Inc. (TMQ) has released promising results from its 2021 Arctic drill program, emphasizing high-grade mineralization consistently exceeding copper-equivalent grades of 10%. Significant findings include 19.91 meters of 6.75% copper in hole AR21-0176 and 10.12 meters of 3.21% copper in hole AR21-0174. The program aimed to upgrade resources and support metallurgical testing, with assays from remaining holes expected soon. The Arctic Project is noted for some of the highest grades globally, with a strong potential to rival African projects in both quality and geopolitical stability.

Trilogy Metals Inc. (TMQ) announced promising initial drilling results from the 2021 Arctic Project in Northwestern Alaska. The summer program involved 4,131 meters of diamond drilling across 18 holes. Notably, holes AR21-0173 and AR21-0175 revealed high-grade mineralization extending beyond the defined pit, with significant copper, zinc, and silver grades. AR21-0175 recorded 24.94 meters of 1.85% copper and 3.55% copper equivalent, while AR21-0173 showed 3.77 meters of 2.15% copper and 3.85% copper equivalent. The results support the project's high-grade mineral potential.

Trilogy Metals Inc. (TMQ) reported financial results for Q3 ended August 31, 2021, showing a net loss of $7.7 million or $0.05 per share, an increase from a loss of $3.2 million in Q3 2020. Key highlights include $6.8 million in cash and a completed summer exploration program at the Upper Kobuk Mineral Projects (UKMP). Despite adverse weather and staffing challenges affecting drilling productivity, plans for 14,600 meters of drilling were ongoing. Trilogy also continues to navigate legal proceedings concerning the Ambler Access Project, with a focus on future drilling results and project advancements.

Trilogy Metals Inc. (TMQ) announced the staking of three claim blocks near the Upper Kobuk Mineral Projects in northwestern Alaska. These claims, which cover a total of approximately 55,680 acres, are strategically located along the proposed Ambler Access Road and are prospective for Arctic-type volcanogenic massive sulphide deposits. A preliminary reconnaissance was conducted earlier this year, with results being compiled for future exploration plans. CEO Tony Giardini emphasized the company's commitment to leveraging its exploration expertise to enhance shareholder value.