TORONTO, ON – August 18, 2021 – Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce the signature of a Power Supply Agreement (“PSA”) with local power distributor, CENORED (Pty) Ltd (“CENORED”).
On August 13, 2021, representatives of Trigon attended a rebranding launch hosted by CENORED, at which the formal PSA between Trigon and CENORED was signed.
This follows an earlier agreement between the parties on the terms and conditions of the PSA and the payment by Trigon for the installation of the power supply, on which preliminary work has already commenced.
Jed Richardson, President and CEO of Trigon, commented, “CENORED has established themselves as a welcomed partner in our restart efforts at Trigon. The relationship between Trigon and CENORED began in April of this year with an agreement to install new power infrastructure, updating our grid connection, and electrifying the Kombat mine and mill. This new announcement gives us a formalized agreement that ensures a reliable and stable power supply for our foreseeable future at Kombat and extends power benefits separately to the people of Kombat Village.”
CENORED is the third licensed Regional Electricity Distribution Company to be established in Namibia, distributing power to three of Namibia’s fourteen legislative regions an area of approximately 120,000 square kilometres and 8,000 kilometres of line infrastructure. The CENORED distribution licence area covers the Oshikoto, Kunune and Otjozondjupa regions (where Kombat is situated).
CENORED recently launched its Strategic Business Plan where it places emphasis on supplying power to large commercial consumers such as Trigon.
About Kombat Mine
The Kombat Copper Project is the flagship project of Trigon Metals Inc., with the Company’s mining and prospecting licence areas covering an area of more than 7,500 ha in the Otavi Mountainlands in Namibia. The Kombat Project is comprised of three mining licences, which produced approximately 12.46 million tonnes of copper between 1962 and 2008, at a grade of 2.62%. The other two mining licences are within close proximity to Kombat at Gross Otavi and Harasib, which are believed to be highly prospective for lead and zinc. In addition, the Company also holds an interest in two exclusive prospecting licences, which represent a potential strike extension of Kombat.
Trigon Metals Inc.
Trigon is a publicly traded Canadian exploration and development company with its core business focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company has operations in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an area of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the previously producing Kombat Mine. In Morocco, the Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.
This news release may contain forward-looking statements. These statements include statements regarding power supply at Kombat, the restart of the Kombat Mine, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat Project, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Trigon Metals, Inc.