news

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

1 March 2021 by trigonmetals

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

24 February 2021 by trigonmetals

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

2 February 2021 by trigonmetals

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

Trigon Metals Inc.

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.

Investor Update – 2021 Outlook for Trigon Metals

8 January 2021 by trigonmetals

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

Trigon Metals Renews Environmental Clearances for Exploration Activities in Namibia

26 November 2020 by trigonmetals

TORONTO, Nov. 26, 2020 — Trigon Metals Inc. (TSX-V:TM) (“Trigon” or the “Company”) is pleased to announce that it has been granted the renewal of its Environmental Clearance Certificate (“ECC”) for exploration activities on all of the Namibian Mining Licences (“ML”) Gross Otavi, Asis (including the Kombat Central, Kombat West and Kombat East deposits), Asis Far West (including the Asis West, Asis Far West and Asis Gap deposits) and Asis Ost (“Kombat Project” or the “Project”) [73b, 73c, 16, 9, 21] from the Namibian Government (Ministry of Environment and Tourism), which was a pre-requisite for the Company to commence its planned upcoming exploration program. The ECC is valid until November 16, 2023.

The Kombat Project is situated in the Otjozondjupa Region, Namibia on the southern tip of the renowned Namibian Copper Triangle, which is an area associated historically and currently with high grade copper mineralization.

The Project consists of a previous operational mine that was placed on care and maintenance in 2008 due to the economic downturn conditions at the time. The mine consists of three vertical shafts as well as ramp systems, a processing plant, siding and paved roads that have all been maintained in pristine condition during the care and maintenance period. Target metals are copper, lead and silver which occur mainly in sulphide minerals.

In the coming months, the Company plans to complete an exploration drilling program at the Kombat Project to further upgrade the expanded Mineral Resource reported on September 28, 2020, being an open pit Indicated Mineral Resource of 7.35 million tonnes and a combined open pit and underground Inferred Mineral Resource of 31.76 million tonnes, at a cut-off grade of 0.6% Cu for the open pit and 1.8% Cu for the underground.

Type	Resource Class	Tonnes (Mt)	Cu (%)	Ag (%)
Open Pit	Indicated	7.35	0.91	0.58
Open Pit	Inferred	11.40	1.07	0.46

Underground	Inferred	20.36	2.84	6.64

The upcoming exploration program is designed to convert the majority of the Inferred Resource estimate to an Indicated Resource estimate on the open pit material. The key workstream areas include a full re-assay of available drill core at site which were not subject to QAQC requirements at the time (pre-2000’s). In addition, a potential resource expansion will be investigated with diamond core drilling in areas which show good potential based on the mine’s 60-year operating history.

Jed Richardson, President & CEO of the Trigon Metals, commented, “Our Namibian team is ready to execute our planned exploration programs to advance the properties at Kombat. We look to continue our success expanding our copper and silver resources in Namibia, alongside Silver Hill in Morocco. Work continues at our Silver Hill Project, with drills now testing areas close to our silver-rich discovery holes in the western portion of our claim area.”

Qualified Person

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 environmental approvals, the planned exploration program, the Company’s ability to expand its mineral resource estimates, 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.

Trigon Metals Closes Second Tranche of Private Placement Financing

13 October 2020 by trigonmetals

TORONTO, Oct. 13, 2020 (Trigon Metals Inc. (TSX-V: TM) (the “Company” or “Trigon”) is pleased to announce the closing of the second and final tranche (the “Second Tranche”) of its previously announced brokered private placement financing (the “Offering”). In this Second Tranche, the Company issued 1,471,999 units (the “Units”) at a price of $0.35 per Unit for aggregate gross proceeds of $515,200.

Each Unit is comprised of one common share of Trigon (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of $0.45 for a period of 36 months following the closing date of the Offering.

Under the initial tranche of the private placement, which closed on September 24, 2020, Trigon issued a total of 13,721,042 Units for aggregate gross proceeds of $4,802,365 (the “Initial Tranche”). Pursuant to the Initial Tranche and the Second Tranche (together, the “Offering”), the Company has raised a total of $1,303,335.

The net proceeds of the Offering will be used to acquire additional silver-copper projects associated with the Silver Hill Project in Morocco, for exploration on the Silver Hill Project and general corporate purposes.

The Offering was led by Cormark Securities Inc. on behalf of a syndicate of agents that included M Partners Inc. (collectively, the “Agents”). As consideration for their services provided in connection with the Second Tranche, the Company has (i) paid the Agents a cash commission equal to $7,728. The Company also paid an aggregate amount of $57,547.55 to other arm’s length finders as part of the initial and Second Tranche of the Offering. All of the subscribers in the Second Tranche were on the Company’s “President’s List”.

All of the securities issued by the Company pursuant to the Second Tranche will be subject to a four-month statutory hold period which expires on February 14, 2021.

An insider of the Company subscribed for 70,000 Units under the Second Tranche. Each transaction with an insider of the Company constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.

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.

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 continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

For further information, contact:

Jed Richardson

+1 416 566 8134

Cautionary Statement on Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding use of proceeds from the Offering. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities 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 Expands Kombat Mineral Resource from 7 Million to 39 Million tonnes

28 September 2020 by trigonmetals

TORONTO, September 28, 2020 – Further to Trigon Metals Inc.’s (TSX-V: TM) (“Trigon” or the “Company”) announcement regarding the potential for a significant increase in the Mineral Resources reported on the Company’s Kombat copper project in Namibia (see press release dated September 8, 2020), the Company is now pleased to announce a 456% increase in the total Mineral Resources reported at Kombat, from 7.0 million tonnes, as at February 28, 2018 (“2018 Mineral Resource”) to 39.1 million tonnes (including inferred resources).

A total of 3,758 additional mineralized underground drill holes have been incorporated outside of the holes utilized in the 2018 Mineral Resource database, leading to a 152% increase in the volume of the resource shell and 3 dimensional confirmation of ore not removed by historic mining. The previous total Inferred and Indicated Mineral Resource of 7 million tonnes represented between 18% of the pre-existing geological model used for resource reporting, with the remaining 82% of the tonnage based on drill holes not previously included. Additional work was undertaken including improvement of the level of accuracy of depletions in the underground areas.

Total Mineral Resources include Indicated and Inferred Mineral Resources on the open pit and underground areas at Kombat, Asis and Gross Otavi.

Updated Mineral Resource Estimate

The updated Mineral Resource estimate (“2020 Mineral Resource”), as presented in detail in Tables 1, 2 and 3 below, 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. A technical report will be filed under the Company’s profile on SEDAR within 45 days of this press release. 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, when available.

Open Pit

The previous 2018 Mineral Resource estimate for the open pit areas (Kombat and Gross Otavi) comprised an Indicated Mineral Resource of 1.529 million tonnes grading 1.14% copper, 0.72% lead and 2.88 g/t silver, and an Inferred Mineral Resource of 1.582 million tonnes grading 1.40% copper, 1.79% lead and 2.17 g/t silver, at a cut-off grade of 0.6% copper equivalent for Kombat and 0.77% for Gross Otavi.

Table 1 below is a summary of the updated 2020 Mineral Resource estimate for the open pit areas (Kombat and Gross Otavi) as at September 1, 2020.

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

Area	Resource Classification	Tonnes (incl Geo Loss)	Density	Cu	Pb	Ag	Cu	Pb	Ag (kg)
Area	Resource Classification	Mt		%	%	g/t	Tonnes	Tonnes	kg
Kombat East	Indicated	5.27	2.81	0.86	0.98	0.49	45 065	51 849	2 595
Kombat Central		2.08	2.81	1.04	0.63	0.80	21 728	13 177	1 660
Kombat West
Total Indicated		7.35	2.81	0.91	0.88	0.58	66 793	65 026	4 255
Kombat East	Inferred	4.26	2.82	0.85	1.33	0.55	36 195	56 582	2 340
Kombat Central		3.08	2.83	1.23	1.40	0.25	38 023	43 335	758
Kombat West		3.42	2.83	1.22	1.47	0.48	41 620	50 209	1 625
Total Inferred Kombat		10.76	2.83	1.08	1.40	0.44	115 838	150 125	4 723
Otavi	Inferred	0.64	2.84	0.93	2.50	0.85	6 006	16 053	546
Total Inferred		11.40	2.83	1.07	1.46	0.46	121 844	166 178	5 269

Notes

The open pit Mineral Resource is declared with in an optimized resource pit with a CuEq cut-off of 0.6% for Kombat and 0.77% for Gross Otavi.
Commodity prices applied: USD3.99/lb (Cu) and USD1.22/lb (Pb).
Otavi Mineral Resource and parameters have not changed from 2018.
Historical mine voids have been depleted from the Mineral Resource.
A geological loss of 15% for the Inferred and 10% for the Indicated Mineral Resource has been applied.
The Mineral Resources are inclusive of Mineral Reserves.
Mineral Resources are reported as total Mineral Resources and are not attributed.
Inferred Mineral Resources have a large degree of uncertainty as to their existence and whether they can be mined economically. It cannot be assumed that all or any part of the Inferred Mineral Resource will be upgraded to a higher confidence category.

Underground

The previous 2018 Mineral Resource estimate for the underground areas at Kombat and Asis was an Inferred Mineral Resource of 3.929 million tonnes grading 3.72% copper, 1.03% lead and 31.29 g/t silver, at a cut-off grade of 1.4% copper equivalent.

Table 2 below is a summary of the updated 2020 Mineral Resource estimate for the underground areas at Kombat and Asis as at September 1, 2020.

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

Area	Resource Classification	Tonnes (incl Geo Loss)	Density	Cu	Pb	Ag	Cu	Pb	Ag (kg)
Area	Resource Classification	Mt		%	%	g/t	Tonnes	Tonnes	kg
Kombat East	Inferred	0.01	2.86	1.68	2.77	0.88	130	215	7
Kombat Central		0.48	2.86	2.20	2.02	2.53	10 614	9 725	1 221
Kombat West		0.22	2.87	2.13	2.48	3.17	4 785	5 589	713
Asis West		18.13	2.86	2.85	1.29	6.02	517 666	234 597	109 111
Asis Gap		1.04	2.84	2.75	0.44	3.53	28 649	4 549	3 680
Asis Far West		0.47	2.85	3.64	0.20	44.10	16 921	942	20 522
Total Inferred		20.36	2.86	2.84	1.26	6.64	578 765	255 617	135 255

Notes

The underground Mineral Resource outside the optimized resource pit is declared at a CuEq cut-off of 1.8%.
Commodity prices applied: USD3.99/lb (Cu) and USD1.22/lb (Pb).
Historical mine voids have been depleted from the Mineral Resource.
A geological loss of 15% for the Inferred and 10% for the Indicated Mineral Resource has been applied.
The Mineral Resources are inclusive of Mineral Reserves.
Mineral Resources are reported as total Mineral Resources and are not attributed.
Inferred Mineral Resources have a large degree of uncertainty as to their existence and whether they can be mined economically. It cannot be assumed that all or any part of the Inferred Mineral Resource will be upgraded to a higher confidence category.

Combined Open Pit and Underground

The previous combined open pit and underground 2018 Mineral Resource estimate for Kombat, Asis and Gross Otavi comprised an Indicated Mineral Resource of 1.529 million tonnes grading 1.14% copper, 0.72% lead and 2.88 g/t silver, and an Inferred Mineral Resource of 5.511 million tonnes grading 3.05% copper, 1.25% lead and 22.93 g/t silver

Table 3 below is a summary of the updated 2020 Mineral Resource estimate for the combined open pit and underground areas at Kombat, Asis and Gross Otavi as at 1 September 2020.

Table 3 – Updated Mineral Resource Estimate as at September 1, 2020 – Combined Open Pit and Underground

Area	Resource Classification	Tonnes (incl Geo Loss)	Density	Cu	Pb	Ag	Cu	Pb	Ag (kg)
Area	Resource Classification	Mt		%	%	g/t	Tonnes	Tonnes	kg
Kombat East	Indicated	5.27	2.81	0.86	0.98	0.49	45 065	51 849	2 595
Kombat Central	Indicated	2.08	2.81	1.04	0.63	0.80	21 728	13 177	1 660
Total Indicated		7.35	2.81	0.91	0.88	0.58	66 793	65 026	4 255
Kombat East	Inferred	4.27	2.82	0.85	1.33	0.55	36 325	56 797	2 347
Kombat Central		3.57	2.83	1.36	1.49	0.55	48 636	53 060	1 979
Kombat West		3.64	2.83	1.27	1.53	0.64	46 405	55 797	2 338
Asis West		18.13	2.86	2.85	1.29	6.02	517 666	234 597	109 111
Asis Gap		1.04	2.84	2.75	0.44	3.53	28 649	4 549	3 680
Asis Far West		0.47	2.85	3.64	0.20	44.10	16 921	942	20 522
Total Inferred Kombat		31.12	2.85	2.23	1.30	4.50	694 603	405 742	139 978
Otavi	Inferred	0.64	2.84	0.93	2.50	0.85	6 006	16 053	546
Total Inferred		31.76	2.85	2.21	1.33	4.42	700 609	421 795	140 524

Notes

The open pit Mineral Resource is declared with in an optimized resource pit with a CuEq cut-off of 0.6% for Kombat and 0.77% for Gross Otavi.
The underground Mineral Resource outside the optimized resource pit is declared at a CuEq cut-off of 1.8%.
Historical mine voids have been depleted from the Mineral Resource.
Commodity prices applied: USD3.99/lb (Cu) and USD1.22/lb (Pb).
A geological loss of 15% for the Inferred and 10% for the Indicated Mineral Resource has been applied.
The Mineral Resources are inclusive of Mineral Reserves.
Mineral Resources are reported as total Mineral Resources and are not attributed.
Inferred Mineral Resources have a large degree of uncertainty as to their existence and whether they can be mined economically. It cannot be assumed that all or any part of the Inferred Mineral Resource will be upgraded to a higher confidence category.

Mineral Reserve Estimate

The probable Mineral Reserve estimate reported by the Company for the Kombat East and Kombat Central areas as at April 30, 2018 has not yet been updated and therefore remains unchanged at 0.77 million tonnes at a grade of 1.30% copper, 0.47% lead and 4.33 g/t silver.

Way Forward

The Company recently appointed Minxcon to undertake a detailed analysis of its extensive database of historical information, including the newly acquired historic underground drilling information, previously not available, which has resulted in significant changes in the new updated geological model and re-estimation of the Mineral Resource and the related increase in the updated Mineral Resources.

Minxcon is currently identifying available specific historic drill holes for resampling, as well as preparing and design a detailed cost estimate for a drilling program, further details of which will be provided in due course. This confirmatory drilling program will focus on the additional drill holes included in the 2020 Mineral Resource database to enable the Company to use the information for further upgrading the Resource and Reserve estimates.

In light of the significant upside potential represented by the above information in terms of the scale of the future mining operations at Kombat, the Company has paused its restart strategy in order to focus on the planned drilling program and reassess the potential for a larger mining operation at Kombat.

Jed Richardson, Chief Executive Officer of Trigon, commented, “We are extremely pleased with the outcome of the work done on the resource base at Kombat, which supports our view of the long-term potential for Kombat and the surrounding region. Our strategy remains focused on bringing the Kombat mine back into production and a restart of a larger base opens up numerous opportunities for the company in terms of its growth strategy.”

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 operations in mining friendly jurisdictions in Africa. The Company holds an 80% interest in five mining licences in the Otavi Mountain lands, 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 Mineral Resources and Reserves and planned drilling program, the filing of the technical report, 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.

For further information, contact:

Jed Richardson
+1 416 566 8134
jed.richardson@trigonmetals.com

Website: www.trigonmetals.com

Trigon Metals Completes Acquisition of ‘Silver Hill’ Copper-Silver Exploration Project in Morocco and Files NI 43-101 Technical Report

24 September 2020 by trigonmetals

TORONTO, Sept. 24, 2020 — Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has completed the acquisition (the “Transaction”) of a 100% equity interest in Technomine Africa S.A.R.L. (“Technomine”), which owns a 100% interest in the Silver Hill Project (“Silver Hill” or the “Project”) in Morocco.

Trigon has received approval of the transaction from the TSX Venture Exchange and has completed the Exchange’s final filing requirements for closing the transaction including, but not limited to; receiving a satisfactory title opinion on the licences comprising the high potential Silver Hill and Tama Doult properties located in the Anti-Atlas region of Morocco, and filing the geological report (the “Report”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for exploration of Silver Hill.

The Silver Hill Transaction is part of the Company’s continued focus to strategically acquire and develop copper and silver properties in favourable African mining jurisdictions.

Jed Richardson, President and CEO of Trigon Metals, commented, “In a world recovering from COVID, the acquisition of the Silver Hill property has added importance. The value of silver as a precious metal and store of value cannot be over emphasized in the face of government stimulus around the world. That said, we are in the midst of a structural shift that should see the world seeking to diversify its supply chains from reliance on China for manufacturing, and copper should see extraordinary demand when the world economy emerges on the other side of this crisis.”

Silver Hill Project Overview

The Transaction is centred around the Silver Hill Project (see press release dated November 19, 2019), a 16km²property in the Anti-Atlas region of Morocco, already home to Africa’s major silver mines (Imiter, Zgounder). Surface exploration shows copper and silver mineralization at high grades distributed over a wide surface area. Slags from ancient workings indicate historical large scale mining for silver.

Morocco is a favourable jurisdiction for mining, with an established industry producing at a rate of approximately 40 million tonnes of minerals per year. The country is a friendly business environment with a strong mining history, but very little systematic modern exploration.

Highlights of Silver Hill

Ancient slags distributed widely across one third of the concession indicate a history of primitive metal recovery, most likely for silver.
Abundance of visible copper minerals at surface, as well as old workings and slags on the property on surface and in-situ indicate excellent potential for a copper prospect
The Project is easily accessed via paved national highways, with a well-maintained gravel road sufficient to be used for an exploration program.

The full technical report entitled “NI 43-101 – Technical Report on the Silver Hill Copper and Silver Project, Morocco” with an effective date of September 24, 2020 has been posted to the Company’s website at https://www.trigonmetals.com and on SEDAR under Trigon’s issuer profile.

Response to COVID-19 in Morocco

Morocco continues to comply with the recommendations of the World Health Organization to reduce the spread of the virus. Trigon does not anticipate any delays to initializing its exploration program at Silver Hill as a result of COVID-19. The local team is ready to commence work on the Project beginning with a sampling program.

Terms of the Transaction

The Company has acquired a 100% equity interest in Technomine. Technomine owns 100% of the rights to the Silver Hill Project. As consideration, Trigon has paid to the Vendors CAD $500,000 in cash and issued 6,000,000 common shares to the vendors (the “First Payment”). On the one-year anniversary of the closing of the Transaction, Trigon must pay to the vendors CAD$400,000, and issue such number of Trigon common shares equal to CAD $250,000 (the “Second Payment”).

Upon the completion of an independent National Instrument 43-101 compliant mineral resource estimate at the Project showing at least 100,000 tonnes of contained copper and/or equivalent, Trigon shall issue such number of shares equal to CAD$1,250,000 to the vendors.

In addition, the Company has paid CAD$25,000 and issued 300,000 common shares to Majilias Inc. (the “Finder”) for its role as an arm’s length finder. The Finder shall also be entitled to a finder’s fee of 5% of the cash and share consideration comprising the Second Payment, when paid by Trigon.

Qualified Person

The technical information presented in this press release has been reviewed and approved 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 operations in Namibia, one of the world’s most prospective copper regions, where it has substantial assets in place. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company’s flagship property, the Kombat Mine.

Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the prospectivity of the Project, the Company’s ability to explore the Project and produce a NI 43-101 mineral resource estimate, the impact of COVID-19 on the Company’s operations, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s ability to restart the Kombat operations, the Company’s expectations for the Kombat operations, 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.

news

Footer