Trilogy–South32 joint venture plans major 2026 drilling and permitting push to advance Alaska’s high-grade Arctic and Bornite copper deposits.
The equal joint venture between Trilogy Metals and South32 is positioning 2026 as a defining year in its efforts to unlock the mineral potential of the Ambler mining district in northwestern Alaska. The partners operate through Ambler Metals, a 50/50 venture tasked with advancing one of the most significant undeveloped copper districts in the United States.
Trilogy Metals announced that Ambler Metals has approved a $35 million exploration and development program for 2026, aimed at accelerating progress at the Upper Kobuk Mineral Projects (UKMP). The UKMP spans roughly 1,900 square kilometers and hosts two major copper-rich deposits: Arctic and Bornite. These assets are considered strategically important due to their scale, grade, and potential role in strengthening domestic copper supply chains.
Planned exploration work during 2026 will concentrate primarily on the Arctic deposit. Activities will include geotechnical drilling and condemnation drilling designed to support detailed mine design, optimize infrastructure placement, and refine long-term production planning. These technical programs are expected to provide critical data necessary for future construction and operational decisions. Meanwhile, preparations will also advance at the Bornite project, where the exploration camp will be upgraded for multi-year use. The camp is scheduled to open in the summer to support geotechnical investigations and additional drilling aimed at expanding the understanding of the deposit.
Alongside these technical efforts, Ambler Metals intends to formally initiate the permitting process for the Arctic project, with permit applications targeted for submission during 2026. To streamline regulatory review timelines, the joint venture plans to pursue inclusion under federal accelerated permitting frameworks such as FAST-41. This program has previously been applied to major copper developments, including the Resolution Copper project operated by Rio Tinto and BHP.
As part of its broader development strategy, Ambler Metals also plans to re-establish an independent management team in 2026. This team will be dedicated to guiding the next phase of advancement at the UKMP. Over the coming years, its responsibilities will include advancing environmental permitting, completing technical studies, executing drilling programs essential for mine and infrastructure design, and strengthening engagement with local communities. Workforce development initiatives and increased local participation will also form key pillars of the venture’s long-term approach.
At the corporate level, Trilogy Metals has allocated approximately $5 million for compliance, governance, and oversight related to its investment in Ambler Metals. The company’s update was well received by investors, with Trilogy’s shares rising sharply following the announcement. The Vancouver-based miner traded higher at C$6.17 per share, giving it a market capitalization slightly above C$1 billion.
Support from the US government has also played a notable role in advancing the project. In October, Trilogy received $35.6 million in federal funding to support development activities at the UKMP through the Ambler Metals joint venture. This funding coincided with the reinstatement of approvals for the 340-kilometer Ambler access road, a critical piece of infrastructure connecting the deposits to the broader transportation network. The road’s permits had previously been withdrawn during the administration of Joe Biden.
From a resource perspective, the Arctic deposit stands out as one of the highest-grade undeveloped copper assets globally. It hosts 35.7 million tonnes of indicated resources grading above 5% copper equivalent, containing an estimated 2.34 billion pounds of copper. A feasibility study completed in 2023 outlined a potential 13-year mine life with robust multi-metal production and strong economics, including an after-tax net present value of $1.1 billion and an internal rate of return of 22.8%.
The Bornite deposit also demonstrates strong potential. A preliminary economic assessment released this year envisions a 17-year mine life with total copper production of approximately 1.9 billion pounds, supported by solid projected returns.
