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.
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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.”
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.
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.
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.