The cost will be shared 50/50 by AIDEA and Ambler Metals, the joint venture operating company equally owned by Trilogy and South32.
During the 2022 field season, AIDEA will undertake geotechnical investigations, right-of-way surveys, environmental studies, road and bridge engineering design work and cultural resources work.
A year ago, the US Bureau of Land Management, the National Park Service and AIDEA signed right-of-way agreements giving AIDEA the ability to cross federally owned and managed lands along the route. The authorising documents with the two agencies are the final federal permits it requires.
An August 2020 feasibility on Arctic detailed a conventional openpit mine and mill complex for a 10,000 tonne per day operation with annual production of more than 155 million pounds of copper, 192Mlb of zinc, 32Mlb of lead, 32,165 ounces of gold and 3.4Moz of silver for a minimum 12-year mine life.
Shares in Trilogy Metals are trading at C$1.87, valuing the company at $270 million.