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Trigon Metals Provides Progress Update on Silver Hill Project, Morocco
TORONTO, ON – September 29, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to provide a progress update on work at the Company’s Silver Hill project in Morocco (“Silver Hill” or the “Project”). Following the conclusion of drilling in early 2021, the Company has been working to advance the Project in preparation for a resumption of drilling planned for December 2021. Work has focused on mapping and remote sensing, identifying signatures for mineralization in the drilled discovery area, and the new hydrothermal vent mineralization discovered in the high-grade trench, 1.5km from the discovery zone. The Company also welcomes Mr. Jed Diner, P.Geo to the team to strengthen its exploration team in Morocco.
The Company has completed a detailed topographic survey of the entire exploitation permit with an aerial drone survey to provide an accurate geographical framework to input completed and future drilling. The survey is expected to enable the production by the Company of more accurate maps, cross-sections and DTM (Digital Terrain Models).
Geochemical sampling work continues at site. To date, work has focused on the area of the trench with collection of some 240 samples around the area that exposed the high-grade hydrothermal vent mineralization. The trench returned 13 metres of 2.7% copper, 34.5 g/t silver and 82 ppm cobalt (See press release dated February 24, 2021). The soils from this area for marker minerals can be used to identify extensions to the mineralization on the Project permit area and the adjacent claims. Trigon has under application over 14km of potential strike length that shows evidence of similar hydrothermal mineralization. Trigon has priority over the claims but is awaiting official granting by the regional mineral commission. Information gleaned from this sampling program could generate a powerful exploration tool that can be applied regionally.
A detailed ground geophysical survey is planned for the discovery drilling area, the hydrothermal high-grade trench and the adjoining areas in the coming weeks. Electromagnetic (EM) surveying will be employed. Given the nature of the mineralization, this method is expected to generate an interesting signature that will be compiled with geochemical results, geology, and drilling results. The work is intended to help focus drilling planned for December 2021, looking to identify a potentially mineralized connection between high grade copper and silver drilled in the discovery zone and the trench mineralization 1.5km away. If the mineralization is directly connected, it could translate into over 2km of richly mineralized strike-length, evidencing a large-scale deposit. The survey may also determine that the structures do not connect, and though related may run parallel to each other, a result that could be interpreted as more favourable.
Trigon is pleased to welcome Mr. Jed Diner, P.Geo to its team. He will oversee exploration activities at Silver Hill. Mr. Diner has worked as a consulting geologist on a wide variety of precious and base metals projects for more than 35 years. He brings extensive experience working in Africa. He holds a B.Sc in Geology and Earth Science from Hebrew University and a M.Sc in Applied Earth Science from Stanford University. Mr. Diner brings a wealth of exploration experience strengthening the Company’s on the ground team.
Qualified Person
The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.
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.
For further information, contact:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com
Cautionary Notes
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.
This news release may contain forward-looking statements. These statements include statements regarding the Silver Hill Project, exploration activities in Morocco and 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.
Trigon Metals Commences Mining Establishment at Kombat Open Pit in Namibia
TORONTO, ON – September 22, 2021 – Trigon Metals Inc. (TSXV:TM) (“Trigon” or the “Company”) is pleased to announce that Tulela Mining & Construction CC (“Tulela”), the open pit mining contractor for its Kombat Mine in Namibia, has commenced with mining establishment at site.
Tulela has established an operational base at the Kombat site, including the refurbishment of offices and workshops, and has commenced with the delivery of mining equipment to site, including a dozer and a drill rig. In the upcoming weeks, initial work will include clearing of topsoil and training of employees, with open pit mining on track to commence by October 2021.
Tulela is a Namibian owned and operated company with extensive open pit operating experience in sub-Saharan Africa, and a strong knowledge of the area in which the Kombat Mine is situated.
Jed Richardson, President and CEO of Trigon, commented, “Activities at site continue to ramp up on a daily basis. We are excited to get started with the mining side of the operations now that the plant is already well on track to meet production timelines.”
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.
About Tulela
Tulela Mining & Construction CC is a multidisciplinary Namibian solutions provider offering unrestrictive access to all business entities within the group including engineering, processing and mining. The members offer a combined mining industry related experience exceeding 85 years from which a solid foundation is formed to service the mining and private sectors. Although specifically focused on processing, engineering, projects and maintenance services, this collective experience ensures personal access to a specialized network of industry specific professionals while realizing industry leading solutions.
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.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the restart of the Kombat Mine, the commencement of open pit mining, 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.
For further information, contact:
Jed Richardson
+1 647 276 0002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com
Trigon Metals Closes Oversubscribed Second Tranche of Private Placement Financing
TORONTO, Sept. 20, 2021 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) has closed, on an oversubscribed basis due to investor demand, a non-brokered second and final tranche (the “Second Tranche”) of its previously announced private placement of units (the “Offering”). The Company issued 7,562,500 units (the “Units”) pursuant to the Second Tranche at a price of $0.40 per Unit for aggregate gross proceeds of $3,025,000. Combined with the first tranche of the Offering, which closed earlier this month, the Company has issued a total of 17,165,000 Units in the Offering for aggregate gross proceeds of $6,866,000.
Each Unit is comprised of one common share of Trigon (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at a price of $0.50 for a period of 24 months following the date hereof, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period, the Shares trade at $0.75 or higher on the TSX Venture Exchange for a period of 30 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.
In connection with the Second Tranche, the Company paid cash finder’s fees of $117,740 and issued 294,350 finder’s warrants (the “Finder Warrants”) to eligible finders. Each Finder Warrant will entitle the holder thereof to acquire one Share at a price of $0.40 for a period of 24 months following the date hereof. The Second Tranche remains subject to the approval of the TSX Venture Exchange.
All securities issued in connection with the Second Tranche will be subject to a statutory hold period of four-months and one-day.
The Company intends to use the net proceeds from the Offering for the recommencement of mining at the Kombat mine and for working capital and general corporate purposes.
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.
For further information, contact:
Jed Richardson
+1 647 676 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com
Cautionary Notes
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.
This news release may contain forward-looking statements. These statements include statements regarding the Offering, the expected use of proceeds of the Offering 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NI 43-101 Technical Report on Updated Kombat Mineral Resource
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NI 43-101 Mineral Resource Report on the Kombat Project, Namibia
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Trigon Metals Files NI 43-101 Technical Report on Updated Kombat Mineral Resource
TORONTO, ON – September 17, 2021 / Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) has filed an updated NI 43-101 technical report covering the Kombat copper project in Namibia.
The updated NI 43-101 technical report reports an Indicated Minerals Resource of 12.22 million tonnes and an Inferred Mineral Resource of 1.91 million tonnes, representing a 66% increase in the Indicated Mineral Resource from the previous estimate reported at October 1, 2020 (see press release dated August 3, 2021).
Combined Mineral Resource (Open Pit & Underground) as at 3 August 2021
| Area | Mineral Resource Category | Tonnes | Density | Grade | Content | ||||
| Cu | Pb | Ag | Cu | Pb | Ag | ||||
| Mt | t/m3 | % | % | ppm | t | t | kg | ||
| Total Indicated | 12.22 | 2.81 | 1.94 | 0.70 | 13.67 | 237,505 | 85,649 | 167,017 | |
| Total Inferred | 1.91 | 2.87 | 2.19 | 1.79 | 6.13 | 41,738 | 34,209 | 11,699 | |
Notes:
- The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi.
- The underground Mineral Resource is below the depth limit and is declared at a CuEq cut-off of 1.5%.
- The Mineral Resource has been depleted with historical mined voids.
- No additional geological losses have been applied.
- Mineral Resources are reported as total Mineral Resources and are not attributed.
Open Pit Mineral Resources as at 3 August 2021
| Area | Mineral Resource Category | Tonnes | Density | Grade | Content | ||||
|---|---|---|---|---|---|---|---|---|---|
| Cu | Pb | Ag | Cu | Pb | Ag | ||||
| Mt | t/m3 | % | % | ppm | t | t | kg | ||
| Kombat East | Indicated | 2.92 | 2.79 | 0.95 | 0.54 | 5.94 | 27,900 | 15,769 | 17,349 |
| Kombat Central | 2.36 | 2.78 | 1.05 | 0.21 | 6.59 | 24,798 | 4,924 | 15,543 | |
| Total Indicated | 5.28 | 2.79 | 1.00 | 0.39 | 6.23 | 52,698 | 20,693 | 32,892 | |
| Otavi | Inferred | 0.64 | 2.84 | 0.93 | 2.50 | 0.85 | 6,006 | 16,053 | 546 |
| Total Inferred | 0.64 | 2.84 | 0.93 | 2.50 | 0.85 | 6,006 | 16,053 | 546 | |
Notes:
- The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi.
- The Mineral Resource has been depleted with historical mined voids.
- No additional geological losses have been applied.
- Mineral Resources are reported as total Mineral Resources and are not attributed.
Underground Mineral Resources as at 3 August 2021
| Area | Mineral Resource Category | Tonnes | Density | Grade | Content | ||||
|---|---|---|---|---|---|---|---|---|---|
| Cu | Pb | Ag | Cu | Pb | Ag | ||||
| Mt | t/m3 | % | % | ppm | t | t | kg | ||
| Kombat East | Indicated | 0.10 | 2.83 | 1.69 | 1.55 | 11.50 | 1,667 | 1,526 | 1,133 |
| Kombat Central | 0.23 | 2.84 | 1.90 | 1.55 | 19.80 | 4,344 | 3,538 | 4,524 | |
| Kombat West | 0.76 | 2.85 | 2.27 | 1.45 | 13.04 | 17,295 | 11,101 | 9,954 | |
| Asis West | 5.53 | 2.83 | 2.79 | 0.87 | 20.78 | 154,337 | 48,224 | 114,823 | |
| Gap | 0.32 | 2.79 | 2.25 | 0.18 | 11.58 | 7,164 | 568 | 3,691 | |
| Total Indicated | 6.93 | 2.83 | 2.66 | 0.94 | 19.34 | 184,807 | 64,957 | 134,126 | |
| Kombat Central | Inferred | 0.01 | 2.88 | 2.02 | 2.74 | 0.01 | 187 | 254 | 0 |
| Kombat West | 0.13 | 3.68 | 5.01 | 10.53 | 0.06 | 6,371 | 13,389 | 8 | |
| Asis West | 0.09 | 2.83 | 2.90 | 0.84 | 16.12 | 2,557 | 741 | 1,423 | |
| Gap | 0.00 | 2.79 | 2.51 | 0.27 | 55.40 | 122 | 13 | 270 | |
| Asis Far West | 1.04 | 2.80 | 2.55 | 0.36 | 9.11 | 26,495 | 3,758 | 9,452 | |
| Total Inferred | 1.27 | 2.89 | 2.82 | 1.43 | 8.80 | 35,732 | 18,156 | 11,153 | |
Notes:
- The underground Mineral Resource is below the depth limit and is declared at a CuEq cut-off of 1.5%.
- The Mineral Resource has been depleted with historical mined voids.
- No additional geological losses have been applied.
- Mineral Resources are reported as total Mineral Resources and are not attributed.
The above Mineral Resource estimate is the culmination of 18 months of work, first mapping historical drilling and historic mine production in three dimensions, and the re-logging and assaying of 50 years of stored drill core. Work was able to confirm historic assay results for copper, and assay silver for the first time, converting 86.5% of the global resource to Measured and Indicated confidence level of an NI 43-101 Mineral Resource estimate, which represents a robust open pit and underground Mineral Resource estimate that is projected to deliver more than 20 years at planned production levels.
The updated Mineral Resource has been prepared and classified by technical consultants Minxcon (Pty) Ltd (“Minxcon”) in accordance with the reporting guidelines as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) as required by the Canadian Securities Administrators. For further information with respect to the key assumptions, parameters, risks, the mineral resource estimate, data verification, quality assurance and quality control (“QA/QC”) and other technical information, please refer to the technical report.
The technical report titled “NI 43-101 Mineral Resource Report on the Kombat Project, Namibia” dated September 16, 2021, has been filed on the SEDAR website at www.sedar.com and on the Company website at www.trigonmetals.com .
Qualified Person
Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA) of Minxcon, is a “qualified person” as such term is defined in NI 43-101 and has reviewed and approved the technical information and data included in this press release. As a director of Minxcon, Mr. Engelmann is considered independent.
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.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Company’s Mineral Resources and Reserves, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat operations, the Company’s ability to restart the Kombat operations, the Company’s ability to obtain adequate investment and other financing, 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.
For further information, contact:
Jed Richardson
+1 647 276 6002
jed.richardson@trigonmetals.com
Website: www.trigonmetals.com
Click to open the NI 43-101 Mineral Resource Report on the Kombat Project, Namibia
