TSX-V: TM | FRA: TZU2 | OTCQB: PNTZF

Trigon Metals

Building A Mid-Tier African Copper Producer

2021

Trigon Completes Land Acquisition of “Copper King Extension” Surrounding its Kombat Copper-Silver-Lead Mine in Namibia

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TORONTO, March 1, 2021 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announced today that it has completed the transaction to expand its land holding in Namibia, through the acquisition (the “Acquisition”) of exclusive prospecting licence 3540 (“EPL 3540”, the “Copper King Extension” or the “Licence”). The Licence surrounds Trigon’s Kombat and Gross Otavi projects in the Otavi Mountainland, a region associated with high grade copper mineralization in addition to a substantial lead and silver content.

The Acquisition substantially increases the exploration potential surrounding the Company’s flagship Kombat copper-silver-lead mine and is part of the Company’s continued strategy to acquire and develop copper and silver properties in favourable African mining jurisdictions.

Jed Richardson, President & CEO of Trigon, commented, “This acquisition gives Trigon a huge 30 km of prospective on structure strike-length in the Otavi valley. Our resource work at Kombat in 2020, which transformed the project into a resource potentially capable of supporting a large operation with a long lived mine life, focused on just 4.2km. We are eager to incorporate our new insights and apply it to make Trigon one of the world’s leading new copper developers.”

Copper King Extension Overview

The Copper King Extension is so named in reference to an award-winning variety of the local Gazania flower which grows natively in the vicinity of the Licence. The Copper King Extension covers an area of 5,614 hectares in the Grootfontein District of the Otjozondjupa Region, between the towns of Otavi to the west and Grootfontein to the east. From a geological perspective, it is situated on the Kombat trend, a mineralized structure, which also hosts the Kombat project.  The area therefore represents a potential strike extension of the Kombat project, with various known mineral occurrences on the property.

Highlights of the Copper King Extension

EPL 3540 is held by Namibian company, Gazania Investments Nine (Pty) Ltd (“Gazania”), which was 80% owned by Sabre Resources Limited (“Sabre”), through Sabre’s wholly owned subsidiary, Starloop Holdings Pty Ltd (“Starloop”), and 20% owned by Coniston Pty Ltd (“Coniston”). The Licence was first granted on October 30, 2006 and has been renewed several times, with a current expiry date of May 7, 2021. Gazania has submitted a renewal application for the Licence.

Terms of the Acquisition

The Acquisition was implemented by way of the acquisition by Trigon, through its wholly owned subsidiary, PNT Financeco Corp., of 100% of the shares in Starloop from Sabre (the “Starloop Shares”) and 20% of the shares in Gazania from Coniston (the “Gazania Shares”).

As consideration for the Starloop Shares, Trigon paid C$200,000 on fulfilment of the conditions precedent to the sale and purchase agreement signed with Sabre (“Sabre Agreement”). A second tranche cash payment of C$100,000 is payable to Sabre on the renewal of the Licence by the Namibian Ministry of Mines and Energy, subject to such renewal being granted within three years of signature of the Sabre Agreement.

As consideration for the Gazania Shares, Trigon paid C$1,000 on fulfilment of the conditions precedent to the sale and purchase agreement signed with Coniston (“Coniston Agreement”).  A second tranche cash payment of C$100,000 is payable to Coniston on the renewal of the Licence by the Namibian Ministry of Mines and Energy, subject to such renewal being granted within three years of signature of the Coniston Agreement.

Trigon has also paid a facilitation fee of C$99,000 to Kalgoorlie Mine Management Pty Ltd for its assistance in facilitating and documenting the Acquisition.

The Acquisition is an arm’s length transaction.

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.

 

Cautionary Notes  

This news release may contain forward-looking statements. These statements include statements regarding EPL 3540 and the Sabre and Coniston Agreements, the prospectivity of EPL 3540, the planned exploration program for Kombat and EPL 3540, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat project and EPL 3540, 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
+1 416 566 8134
jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

Investor Update Video | Trench Assay Results

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Click the video to view exclusive commentary on this news release from Trigon’s CEO.

Trigon Metals announced trench assay results from the Company’s exploration program campaign at the Company’s Silver Hill Project in Morocco. The company reported 13 m trench grading 2.7% copper and 34.5 g/t silver.

In case you missed it, click here to read the full press release.

Trigon Reports 13 Metre Trench Grading 2.7% Copper And 34.5 G/T Silver At Silver Hill In Morocco

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TORONTO, February 24, 2021 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announced today trench assay results from the Company’s exploration program campaign at the Company’s 100% owned Silver Hill Project (“Silver Hill” or the “Project”) in Morocco.

A trench has been completed on fresh rock below the saprolite. Continuous samples were collected horizontally along the wall of the trench returning 13 metres of 2.7% copper, 34.5 g/t silver and 82 ppm cobalt. The trench exposed an area of intense sub-vertical hydrothermal alteration, giving geologists a unique look at the nature of the mineralization. The trench is located 1.5km away from the S1 discovery hole, in an area first identified by surface grab sample, J10 reported 6.8% copper and 116 g/t silver (see press release October 5, 2020). The zone was tested successfully with drill hole S9, 31 metres of 0.7% copper from 37 to 68 metres depth down the hole. Given the much higher grades in the trench, it now appears the original hole may not have penetrated the heart of the structure.

Continuous Samples from Trench

Sample # From (m) To (m) Ag (g/t) Cu (%) Co (ppm)
E1                –               0.5 4 2.2 80
E2               0.5               1.0 4 0.66 16
E3               1.0               1.5 4 1.88 16
E4               1.5               2.0 4 1.19 28
E5               2.0               2.5 28 1.95 116
E6               2.5               3.0 68 3.74 48
E7               3.0               3.5 64 2.92 36
E8               3.5               4.0 88 3.82 64
E9               4.0               4.5 108 3.94 104
E10               4.5               5.0 52 3.55 60
E11               5.0               5.5 52 3.43 76
E12               5.5               6.0 32 3.59 248
E13               6.0               6.5 32 4.11 380
E14               6.5               7.0 32 3.88 236
E15               7.0               7.5 28 3.43 252
E16               7.5               8.0 28 3.56 72
E17               8.0               8.5 104 3.93 84
E18               8.5               9.0 24 3.54 32
E19               9.0               9.5 40 2.76 24
E20               9.5             10.0 36 2.46 40
E21             10.0             10.5 20 1.73 16
E22             10.5             11.0 8 1.09 8
E23             11.0             11.5 8 1.98 12
E24             11.5             12.0 16 2.64 32
E25             12.0             12.5 8 1.26 32
E26             12.5             13.0 4 1.06 12

The trench exposed some old mining works where the richest silver mineralization appears to have been previously mined out. Given the limitations of ancient mining techniques, it is our view that the core of the structure at depth has not yet been investigated. Samples E14 and E15 are taken from the opposing wall of the trench avoiding the muddy fill from the mined-out area. Evidence around the site continues to point to silver being the focus of the ancient miners, suggesting the mined-out material may have been a high grade silver vein. Company geologists plan to target deeper in the structure where the vein may remain untouched, out of reach of ancient mining technology.

The trench was 30m in total length ramping down to the target area and samples were taken some 5 metres below the surface level. It was all free digging material, completed with a diesel hydraulic shovel, at a width of 3.8 metres. A rock breaker was used for the final 1.5 metres.

Diagram of Eastern Sector Trench at Hole S9

Jed Richardson, President and CEO of Trigon Metals, said, “This trench, at the site of the S9 Drill hole, has given us our best view of the nature of the mineralization and provides insight for our next steps. We will step out and test the structure at depth to explore whether this structure is a continuation of what we see in the area of the discovery hole S1 over 2km of strike length, or if this is a separate but related structure. This early result supports our excitement about the project and about the prospectivity of Morocco, along with Namibia, our other preferred jurisdiction for developing significant new copper projects.”

View of trench at end of first tier

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. Namibia is one of the world’s most prospective copper regions, where Trigon has substantial assets in place. 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. The Company also recently finalized the acquisition of the Silver Hill project, a highly prospective copper and silver exploration project in Morocco.

 

Cautionary Notes  

This news release may contain forward-looking statements. These statements include statements regarding the Company’s planned exploration program, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Silver Hill Project, the prospectivity of the Silver Hill Project, the mineralization of the Silver Hill 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
+1 416 566 8134
jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

Trigon Metals Quadruples its Land Position at Kombat Copper-Silver-Lead Mine in Namibia

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TORONTO, Feb. 02, 2021 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has entered into definitive agreements to expand its land holding in Namibia, through the acquisition (the “Acquisition”) of exclusive prospecting licence (“EPL 3540” or the “Licence”). This licence surrounds Trigon’s Kombat and Gross Otavi projects in the Otavi Mountainland, a region associated with high grade copper mineralization, in addition to a substantial lead and silver content.

EPL 3540 covers an area of 5,614 hectares in the Grootfontein District of the Otjozondjupa Region, between the towns of Otavi to the west and Grootfontein to the east. From a geological perspective, it is situated on the Kombat trend, a mineralized structure, which also hosts the Kombat project.   The area therefore represents a potential strike extension of the Kombat project, with various known mineral occurrences on the property.

By way of comparison, the three permits that contain the Kombat mine host a 7 Mt Indicated Resource with an additional 31 Mt in Inferred Resources (see Table 1 and 2) and produced 12.5 million tonnes of copper over a 45-year history, encompass only 692.1 hectares or 4.2 kilometres of strikelength. Upon completion the acquisition would increase Trigon’s presence in the Otavi Valley from 2,011 hectares to 7,625 hectares, a 280% increase. Trigon’s prospective strikelength grows to over 30 kilometres. Trigon management has extensive knowledge of the area in which EPL 3540 is situated and plans to implement an exploration program in conjunction with its exploration plans for the Kombat project areas.

Table 1 – Kombat Mineral Resource Estimate as at September 1, 2020 – Open Pit (0.6% copper equivalent cut-off)

Resource Classification Cu % Pb % Ag (g/t) Cu (t) Pb (t) Ag (kg)
Indicated 0.91 0.88 0.58 66 793 65 026 4 255
Inferred 1.07 1.46 0.46 121 844 166 178 5 269

Table 2 – Kombat Mineral Resource Estimate as at September 1, 2020 – Underground (1.8% copper equivalent cut-off)

Resource Classification Cu % Pb % Ag (g/t) Cu (t) Pb (t) Ag (kg)
Total Inferred 2.84 1.26 6.64 578 765 255 617 135 255

EPL 3540 is currently held by Namibian company, Gazania Investments Nine (Pty) Ltd (“Gazania”), which is 80% owned by Sabre Resources Limited (“Sabre”), through Sabre’s wholly owned subsidiary, Starloop Holdings Pty Ltd (“Starloop”), and 20% owned by Coniston Pty Ltd (“Coniston”). The Licence was first granted on October 30, 2006 and has been renewed several times, with a current expiry date of May 7, 2021. Gazania will be submitting a renewal application for the licence following the signature of the Sabre and Coniston Agreements (as defined below).

The Acquisition will be implemented by way of the acquisition by Trigon of 100% of the shares in Starloop from Sabre (the “Starloop Shares”) and 20% of the shares in Gazania from Coniston (the “Gazania Shares”).

Trigon, through its wholly owned subsidiary, PNT Financeco Corp., has signed sale and purchase agreements with each of Sabre and Coniston dated February 2, 2021 (the “Sabre Agreement” and the “Coniston Agreement” respectively), and on fulfilment of the conditions precedent to each agreement will acquire the Starloop Shares and the Gazania Shares for the following purchase considerations.

Trigon will acquire the Starloop Shares for a cash purchase consideration of C$200,000 payable on fulfilment of the conditions precedent to the Sabre Agreement. A second tranche cash payment of C$100,000 is payable to Sabre on the renewal of EPL 3540 by the Namibian Ministry of Mines and Energy, subject to such renewal being granted within 12 months of signature of the Sabre Agreement.

Trigon will acquire the Gazania Shares for a cash purchase consideration of C$1,000 on fulfilment of the conditions precedent to the Coniston Agreement. A second tranche cash payment of C$100,000 is payable to Coniston on the renewal of EPL 3540 by the Namibian Ministry of Mines and Energy, subject to such renewal being granted within 12 months of signature of the Coniston Agreement.

The Sabre and Coniston Agreements are each subject to customary closing conditions, including the approval of the TSX Venture Exchange. The Acquisition is an arm’s length transaction.

​Jed Richardson, President & CEO of Trigon Metals, commented, “We have long held the belief that the copper, silver and lead resource potential of Kombat and the Otavi Valley have never been properly explored. Encouraged by the significant resource expansion announced September 28, 2020, the acquisition of EPL 3540 represents an attractive regional consolidation opportunity for us, and given our extensive existing knowledge of the region, we believe holds upside potential for the long term future of the Kombat project.”

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.

Cautionary Notes  

This news release may contain forward-looking statements. These statements include statements regarding EPL 3540 and the Sabre and Coniston Agreements, the Company’s ability to close the Acquisition, the prospectivity of EPL 3540, the planned exploration program for Kombat and EPL 3540, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat project and EPL 3540, 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.

Trigon Metals Reports a Shallow 8m Mineralized Intersection, Yielding 1.8% Copper and 121 G/t Silver at Silver Hill in Morocco

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TORONTO, Jan. 12, 2021 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce assay results from hole S13, the first hole of a planned 3000 m drill campaign at the Company’s Silver Hill Project in Morocco (the “Project”).

An 8 m interval grading 1.8% copper and 121 g/t silver was intercepted at a depth of 32.5 m. Assay results included a 0.5 m interval of 14.87% copper, 1000 g/t silver and 173 ppm cobalt. (Cobalt assays indicate the mineral is present to a degree that may be of value in a concentrate.)

Hole S13 is located at N 31°14’43,6″; W 004°46’53,3″; 70 degrees to N356, in the vicinity of Hole S1, which was drilled by Technomine (the previous owner of the Project) prior to Trigon’s acquisition of the Project. The intent of Trigon’s current drill program is to confirm the mineralization down-dip of the historic mined-out strike zone, identified by the drill program completed in November 2020 by Trigon. Additionally, it is hoped that this ongoing drill program will provide information as to the structural controls of the mineralization. Assay results are pending. During the last three weeks, 10 holes have been completed that targeted a structure believed to be the focus of historic mining, along 1.3 km of known strike length. The 0.5 m high grade interval mentioned above represents the highest silver assay reported on the property.

The exploration team is also designing a subsequent exploration program which will utilize geophysical survey results in order to identify new targets similar to the discovery at S9, drilled in the November 2020 program, which returned 31 m at 0.7% copper, at a depth of 37 m. (See press release dated November 12, 2020).

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, 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 Morocco and Namibia. The Company recently finalized the acquisition of the Silver Hill project, a highly prospective copper and silver exploration project in Morocco. Namibia is one of the world’s most prospective copper regions, where Trigon has substantial assets in place. 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.

Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the ongoing exploration program, future exploration programs, the potential mineralization of the Project; the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Silver Hill Project and the Kombat Project, 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
+1 416 566 8134
jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

Investor Update – 2021 Outlook for Trigon Metals

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Happy New Year!

This is an update for Trigon Metals, its shareholders and other investors. Here is a quick look back at 2020 and a look forward to what is in store for 2021. Despite a difficult year globally with the world health situation, it was all told a good year for Trigon.

We completed the Silver Hill transaction, giving us our beachhead into Morocco. Morocco is a country full of opportunities and we have a great one in that project. We started with a drill program there that is ongoing. Also, in 2020, we dramatically increased the size of the resource at Kombat, growing the resource to 18 million tonnes at over one percent copper in an open pit and then to 20 million tonnes underground of high-grade copper ore.  It was a fantastic result, and we have lots of room to grow down at Kombat.

Looking ahead at Silver Hill, we have been drilling right through the Christmas break, so we have a lot of ore in the labs. We have done some surface trenching as well. We will be steadily producing those results through the month of January and February as we work on some resource definition at Silver Hill. Stay tuned for that.

At Kombat, we will be turning our attention towards exploration. As we can see from that major resource increase, there is clearly a lot more copper and silver in the ground that is yet to be defined. We have some targets laid out, but we are also going to be working on expanding our land position to see if we can grow what is already a sizeable resource into something much larger.

The stars of the show looking forward to 2021 are the commodity prices. Our main commodity, copper, is more than $3.50 per pound right now. This is with the world economy still waking up from all the pain of the pandemic. By the end of the year, hopefully, with the successful distribution of vaccines, and the world economy starting to operate at a full tilt, we should see much stronger copper prices and that is going to bode well for everything that we are doing at Trigon, particularly for the Kombat Mine and with silver at over $27 an ounce now.

Midsummer, we saw silver reaching new highs, but it had languished in the last months of the year. It has rallied back to the $27 level of late. With new stimulus being offered around the world as governments try to get their economies in order, we should see silver rally along with gold through 2021.
We believe we are in a fantastic position as a company and for Trigon shareholders. Stay tuned, there is more in store and we think 2021 has the potential to be a record year for Trigon. Thank you.

 

Jed Richardson

President and CEO

Trigon Metals