Ambler Metals plans to develop the Upper Kobuk Mineral Projects in Northwest Alaska in 2020 and has earmarked a budget of $22.8mn for this initiative.
Under this project, Ambler will undertake 10,000 meters of drilling at its Arctic project in the summer of 2020 along with 2,500 meters of drilling within the Ambler Volcanogenic Massive Sulphide belt to gather additional data on the resources available in these two regions. The budget also includes the cost of geological mapping and soil testing at the company’s Bornite project to find high-grade copper zones.
Ambler metals is a 50pc partnership between Canada’s Trilogy Metals and Australia’s South32, where the former has invested all its assets, including the Arctic and Bornite projects, and the latter has invested $145mn. The capital, according to Ambler’s website, will be used to advance exploration in the Ambler mining district and develop the Arctic and Bornite projects.