Tri-Metal Corporation (TMQ(TSX, NYSE) said its flagship Arctic project in the Ambler Mining District of northwest Alaska has been accepted as a “covered project” on the Federal Permit Improvement Steering Board’s permitting control panel under Title 41 of the U.S. Surface Transportation Reform Act.
The appointment represents a pivotal milestone for Ambler Metals, a joint venture owned 50/50 by Trilogy and Trilogy, the company said. South32 Australia Limited. (S32-ASX, JSE, LSE, SOUHY-ADR), is progressing towards the start of the National Environmental Policy Act process, positioning the Arctic Project as a priority for development of priority domestic minerals under US President Trump’s resource policy agenda.
Trilogy shares on Friday fell 6.2%, or 38 cents, to $5.73. Shares are trading in a 52-week range of $15.21 to $1.59.
Ambler Metals owns a 100% interest in the Upper Kobuk Mineral Projects (UKMP) in northwest Alaska. UKMP is located in the Ambler Mining District, which ranks as one of the richest known copper-dominant regions in the world. It hosts polymetallic volcanic massive sulphide (VMS) deposits containing copper, zinc, lead, gold, silver and carbonate replacement deposits, which have been found to host high-grade copper and cobalt mineralization.
Exploration efforts have focused on deposits in the Ambler Mining District – the Arctic VMS deposit and the bornite carbonate replacement deposit. Both deposits are located within a plot of land spanning 190,929 hectares.
The company announced the results of its Arctic feasibility study in February 2023. It describes the potential technical and economic feasibility of establishing a conventional open pit mine complex for copper, zinc, lead, silver and gold to operate at 10,000 tons per day. The 13-year mine life is expected to total 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 US$1.17 billion.
Ambler Metals has entered into an agreement with NNA Regional Corporation, Inc., a local Alaska corporation that provides a framework for potential exploration and development of the Ambler Mining District in collaboration with local communities.
Trilogy said it aims to develop the Ambler Mining District into a leading North American copper producer while protecting and respecting subsistence livelihoods.
In April 2026, Ambler Metals filed an application for a permit under Section 404 of the Clean Water Act with the U.S. Army Corps of Engineers which initiated a federal permit for the Arctic Project. The FAST-41 covered project rating comes directly from this filing and from a broader series of Federal policy actions supporting the development of domestically significant minerals, including the October 2025 presidential approval of the Ambler Access Road and the associated $35.6 million Federal strategic equity investment commitment in Trilogy Metals. The Ambler Access Road is a proposed 300 km industrial use-only road from the Upper Kobuk Mining Projects (UKMP) to the Dalton Highway that would enable exploration and development development in the Ambler Mining District.
