Global diversified miner South32 has exercised its option to acquire a 50% interest in a joint venture (JV) company that will own a polymetallic volcanogenic massive sulphide (VMS) style deposit, in the Arctic.
South32 entered into an option agreement with TSX-listed Trilogy Metals over the Upper Kobuk Mineral Project (UKMP) in 2017, and has completed three field seasons to advance its understanding of the copper resources.