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Trigon Metals Inc
Symbol TM
Shares Issued 204,273,600
Close 2024-01-22 C$ 0.195
Market Cap C$ 39,833,352
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Trigon Metals drills 15.5 m of 5.56% Cu at Kombat

2024-01-23 12:55 ET - News Release

Mr. Jed Richardson reports


Trigon Metals Inc. has released results from confirmation drilling at the Kombat mine in Namibia with key highlights from the drilling campaign. The reported results are from the shallow areas of 1 Shaft (Asis West Shaft) adjacent to the historic Omega Shaft from 100 years ago. The 1 Shaft area still contains high-grade zones of mineralization to be accessed from the underground.

Highlights of the drill results

Several confirmation holes near 1 Shaft have been completed. These drill holes were targeting orebodies adjacent to historic workings and close to existing development, thus allowing for near-term mining during the ramp-up stage of underground operations. The holes listed below have extended the known mineralization and minable tonnage in the zone.

K15FLW02: 306-degree azimuth; minus-88.7-degree dip:

  • Intersected nine metres with 2.59 per cent copper and 36.7 grams per tonne silver, from 26 m;
  • Intersected 9.3 m with 1.35 per cent Cu and 17.2 g/t Ag, from 49 m.

K15FLW03: 92.1-degree azimuth; minus-89.1-degree dip:

  • Intersected 15.5 m with 5.56 per cent Cu and 81.4 g/t Ag, from 10 m.

K15FLW09: 329-degree azimuth; minus-86.4-degree dip:

  • Intersected 9.8 m with 1.01 per cent Cu and 14.4 g/t Ag, from 10.2 m;
  • Intersected seven m with 1.44 per cent Cu and 23.4 g/t Ag, from 25 m;
  • Intersected six m with 1.91 per cent Cu and 37.3 g/t Ag, from 43 m.

K15FLW11: 82.1-degree azimuth; minus-87.2-degree dip:

  • Intersected 18 m with 6.15 per cent Cu and 81.8 g/t Ag, from 18 m.

Andy Rompel, Trigon's vice-president of exploration, commented: "We are pleased with the drilling results at the 1 Shaft area. These findings further demonstrate the high-grade copper and silver potential copper potential within our licences and solidify our confidence in the exploration and development potential of the Kombat project."

Jed Richardson, executive chairman, commented: "Dewatering has progressed well in the past weeks. The water level has been lowered 238 m, past the seventh level and beyond our sixth-level goal necessary to start underground mining."

As previously announced, the company remains on track to initiate underground mining beginning in calendar Q2 this year. As it prepares for this stage Trigon Metals anticipates increased operational efficiency and enhanced resource extraction following the promising drill results that have showcased the substantial mineralization within the targeted zones.

The assays have been prepared and classified by Trigon Mining (Namibia) Pty. Ltd. in accordance with the reporting guidelines as set out in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects as required by the Canadian Securities Administrators.

Quality assurance and quality control

All sample assay results have been monitored through the company's quality assurance/quality control program following E2941-21 standard practices for extraction of elements from ores and related metallurgical materials by four-acid digestion with inductively coupled plasma optical emission spectroscopy finish. Drill core was sent to an independent laboratory, African Laboratory Specialists Namibia (ALS), for analysis. ALS is an independent laboratory, located in Kombat, Namibia. Core samples were prepared using the ASTM procedures. Sample size: three kilograms, crushed split to 250-gram weighed sample (plus/minus 0.5000 gram).

Qualified person

The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Muller, PEng, vice-president, operations, of Trigon, who is a qualified person as defined by NI 43-101.

About 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-per-cent 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 redevelopment 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.

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