Disseminated on behalf of Trilogy Metals Inc. (NYSE American: TMQ) (TSX: TMQ) and may include paid advertising.
- Trilogy Metals’ JV company Ambler Metals has recently approved the $35 million 2026 program focused on initiating mine permitting for the Arctic Project while advancing technical de-risking work
- The joint venture plans to target mine permit submissions in 2026, potentially leveraging FAST-41 federal expedited permitting for critical infrastructure projects
- Trilogy maintains a strong cash position exceeding $50 million, with additional funding expected from a $35.6 million US Department of War investment anticipated to close in early 2026
In an industry with a historically lengthy gap between discovery and production, the ability to advance projects through the permitting gauntlet separates aspirational deposits from future mines. Trilogy Metals (NYSE American: TMQ) (TSX: TMQ) is positioning 2026 as the year that transforms the Arctic Project in Alaska from a world-class copper resource into a permitted mining operation.
On December 17, 2025, Trilogy announced that Ambler Metals LLC, its 50-50 joint venture with South32 Limited, approved a $35 million program for 2026 that marks a strategic pivot toward permitting and production planning. This budget represents more than capital allocation; it signals confidence in both the project’s technical foundation and the shifting regulatory environment for domestic critical mineral development.
Permitting Takes Center Stage
The 2026 work program prioritizes the mine permit submission for the Arctic Project, with Ambler Metals targeting federal expedited permitting through the FAST-41 framework. FAST-41 was designed specifically to enhance coordination, transparency, and predictability for critical infrastructure projects, and with President Trump’s recent Executive Orders emphasizing domestic critical mineral production, the timing aligns with policy priorities.
Given that the Arctic Project is located on state and private land, the key federal permit will be the Clean Water Act (“CWA”) Section 404 Dredge-and-Fill Permit that is issued by the US Army Corps of Engineers. All other significant permits are issued by the State of Alaska, creating a streamlined permitting pathway compared to projects burdened by federal land restrictions. This jurisdictional advantage, combined with three years of baseline data already collected, positions Arctic for an efficient permitting timeline.
The 2026 program will advance engineering, environmental, and technical work required to support a future final investment decision for mine construction and operations. The program also includes geotechnical and condemnation drilling at Arctic to refine mine design and infrastructure placement, along with preparation of the Bornite Project camp for multi-year exploration use.
Building Institutional Capacity
Ambler Metals will re-establish an independent management team in 2026 dedicated to managing the next phase of development. This team will focus on advancing the permitting, completing technical programs, executing drill campaigns critical for mine design, and strengthening community engagement and workforce development initiatives.
The emphasis on local participation reflects the joint venture’s ongoing partnership with NANA Regional Corporation, which provides a framework for exploration and development in cooperation with local communities. Engagement with regional stakeholders remains a core element of the program, with continued focus on transparent communication, consultation, and long-term workforce planning.
The Road Forward
Ambler Metals will continue evaluating early-stage funding opportunities to support the advancement of the Ambler Access Project (also known as the Ambler Road), through its existing arrangement with the Alaska Industrial Development and Export Authority. The proposed 211-mile industrial-use road connecting the Ambler Mining District to the Dalton Highway received federal Right-of-Way permits in October 2025 following President Trump’s decision to overturn the Biden Administration’s 2024 rejection of the project.
The Arctic Project’s feasibility study, released in February 2023, demonstrated robust economics with a pre-tax NPV of $1.5 billion and a 25.8% IRR at base case metal prices. The project hosts probable mineral reserves of 46.7 million tonnes grading 2.11% copper, 2.9% zinc, 0.56% lead, 0.42 g/t gold, and 31.8 g/t silver. At current spot prices, the project’s pre-tax NPV exceeds $3.9 billion.
With the January 2025 release of the Bornite Preliminary Economic Assessment showing potential to extend mine life beyond 30 years, the projects in the Ambler Mining District represent a generational opportunity to establish a premier North American copper supplier.
For more information, visit www.TrilogyMetals.com.
NOTE TO INVESTORS: The latest news and updates relating to TMQ are available in the company’s newsroom at https://ibn.fm/TMQ
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