Trilogy Metals Inc. has announced that the Alaska Industrial Development and Export Authority (AIDEA) has formally approved the proposed plan and budget for the 2021 summer field season activities and services of up to US$13 million for the Ambler Access Project (AAP). The cost will be shared 50/50 by AIDEA and Ambler Metals LLC, the joint venture (JV) operating company equally owned by Trilogy and South32 Ltd.
The Board of AIDEA has authorised up to US$6.5 million for field season activities. These funds will be matched by up to another US$6.5 million from Ambler Metals under the terms of the Ambler Access development agreement (the development agreement" that was approved by the AIDEA Board on 10 February 2021 and subsequently executed by both parties, resulting in a total budget for 2021 of up to US$13 million.
The AAP is a proposed 211-mile, east-west running controlled industrial access road that would provide industrial access to the Ambler Mining District in northwestern Alaska. The area currently lacks the transportation infrastructure necessary for the operations of mines in the district. The Ambler Mining District is one of the largest copper-zinc mineral belts in the world and is home to the company's projects.
AIDEA has also confirmed that it has entered into a land access agreement with Doyon, Limited to conduct final feasibility and permitting activities to advance the AAP.
Doyon is the Alaska Native regional corporation for Interior Alaska. With more than 12.5 million acres of land in Alaska allocated to the corporation under Alaska Native Claims Settlement Act (ANCSA), Doyon is the largest private landholder in Alaska and one of the largest in North America . Headquartered in Fairbanks, Alaska and led by a 13-member board of directors, Doyon is a for-profit corporation with more than 20 000 shareholders.
The land access agreement with Doyon allows AIDEA, and its contractors, controlled access to land owned and managed by Doyon along the proposed road route to the Ambler Mining District. AIDEA is working in conjunction with Ambler Metals through the development agreement, signed in February 2021, to collaborate with local stakeholders, landowners, communities, and tribes.
Tony Giardini , President and CEO of Trilogy, commented: "I would like to applaud the hard work being carried out by AIDEA which, in a span of a few months, has made a number of significant accomplishments in the advancement of the AAP. I am also very encouraged with the work AIDEA has invested in with respect to its engagement with Doyon. The development of relationships with all stakeholders is the key to creating opportunities for Alaskans and other stakeholders."
Read the article online at: https://www.globalminingreview.com/finance-business/20042021/trilogy-metals-provides-access-road-update/
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