TORONTO, ON / ACCESSWIRE / Aug 3, 2021 / Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) announces an updated NI 43-101 Mineral Resource Estimate at the Kombat Mine in Namibia (“Kombat” or the ” Project”). The combined estimates of surface and underground indicated mineral resources reached 12.2 million tonnes at 1.94% copper, 13.65 g / t silver and 0.70% lead, compared to the estimate of open-pit indicated mineral resources strictly of 7.35 million tonnes at 0.91% copper, 0.58 g / t silver and 0.88% lead announced (see press release dated October 29, 2020 ).

Jed Richardson, President and CEO of Trigon, said, “We have our licenses, we have our team and now we have our resource. Our reported tonnage has increased by 66% over our previous mineral resource estimates. Our tonnage of 113% copper and silver increased by 2,253%. We have succeeded in increasing the quality of our resources by all means, despite stricter cut-off grades by demonstrating the importance of the underground resource. We remain on track for first production and shipping of concentrate by the end of the year. “

Combined estimate of mineral resources (open pit and underground) as of August 3, 2021

To note:

1. Open pit mineral resources are based on a CuEq cutoff of 0.65% for Kombat and 0.77% for Gross Otavi.

2. The underground mineral resources are based on a cut-off grade of 1.5% CuEq.

3. CuEq (copper equivalent) is based on copper and silver only (excluding lead).

4. Prices of raw materials used for cut-off grades: Cu = 9,100 USD / t and Ag = 27 USD / oz.

5. Historic mining voids have been depleted from mineral resources.

6. Mineral Resources are presented as Total Mineral Resources and are unassigned.

Open pit mineral resource estimate [CuEq Cut-off 0.65% (Pb not incl.)] until August 3, 2021

The story continues

To note:

1. Open pit mineral resources are based on open pit resource potential (down to a depth of 160m around well # 3) with a CuEq cutoff of 0.65% for Kombat and 0.77% for Gross Otavi (in a resource mine and includes Pb not Ag).

2. CuEq (copper equivalent) is based on copper and silver only (excluding lead).

3. Prices of raw materials used for cut-off grades: Cu = 9,100 USD / t and Ag = 27 USD / oz.

4. Historic mining voids have been depleted from mineral resources.

5. Mineral Resources are presented as Total Mineral Resources and are unassigned.

Estimation of underground mineral resources [CuEq Cut-off 1.50% (Pb not incl.)] until August 3, 2021

To note:

1. The underground mineral resources are based on a cut-off grade of 1.5% CuEq.

2. CuEq (copper equivalent) is based on copper and silver only (excluding lead).

3. Prices of raw materials used for cut-off grades: Cu = 9,100 USD / t and Ag = 27 USD / oz.

4. Historic mining voids have been depleted from mineral resources.

5. Mineral Resources are presented as Total Mineral Resources and are unassigned.

The updated mineral resource estimate is the culmination of 18 months of work, the first mapping of historical drilling and historical mining production in three dimensions, as well as the re-logging and analysis of 50 years of core stored boreholes. The work confirmed historical assay results for copper and analyzed silver for the first time, converting 86.5% of the world’s resource to the measured and indicated confidence level of a mineral resource estimate. NI 43-101.

The Company used more stringent criteria to calculate the cut-off grades and removed the influence of lead when calculating the copper equivalent cut-off given the abundance of copper and silver mineralization and the focus on on profitable and sustainable production. The new criteria have the effect of increasing the copper content in the surface mine and limiting what qualifies in tonnes of estimated mineral resources. The result is a robust estimate of surface and underground mineral resources that is expected to provide more than 20 years of expected production levels. Initially, lead will not be recovered when surface mining resumes, as the preference is to optimize recovery of copper and silver, which are much more valuable throughout the life of the mine. .

The presentation of these mineral resource estimates marks the first comprehensive estimate of silver grades at Kombat, generating an in situ Indicated Mineral Resource estimate of 5.3 million ounces of silver, a byproduct of 482 million pounds. of copper in situ contained. Metallurgical testing and anticipated mine dilution predict an estimated copper recovery of 85% and silver recovery of 88%.

The mineral resource estimates have been prepared and classified by Minxcon in accordance with the reporting guidelines required by the Canadian Securities Administrators. The qualified person responsible for the declaration of the mineral resource estimate is Mr. Uwe Engelman BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. Reg. No. 400058/08, MGSSA, who is a “qualified person” as that term is defined in National Instrument 43-101 and the CIM Defining Standards.

A NI 43-101 compliant technical report concerning the updated mineral resource estimate for the project will be filed under the Company’s profile on SEDAR within 45 days of this press release.

The Company does not currently have a feasibility study for the underground parts of the Kombat mine and underground production restart activities are based on internal management forecasts.

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 the term is defined. defined in NI 43-101 and has reviewed and approved the information and technical data included in this press release. Mr. Engelmann is considered to be independent from Trigon.

About the Kombat mine

The Kombat Copper Project is Trigon Metals Inc.’s flagship project, with the company’s mining and prospecting license areas covering an area of ​​over 7,500 ha in the Otavi Mountains of Namibia. The Kombat project includes three mining licenses, which produced approximately 12.46 million tonnes of copper between 1962 and 2008, at a grade of 2.62%. The other two mining licenses are in the immediate vicinity of Kombat at Gross Otavi and Harasib, which are considered very promising for lead and zinc. In addition, the Company also holds an interest in two exclusive prospecting licenses, which represent a potential extension of the Kombat strike.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company primarily focused on copper and silver holdings in African mine-friendly jurisdictions. Currently, the company is present in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licenses in the Otavi Mountainlands, a region of Namibia widely recognized for its high-grade copper deposits, where the Company is focused on exploration and mine redevelopment. Kombat previously in production. . In Morocco, the Company is the owner of the Silver Hill project, a very promising copper and silver exploration project.

Cautionary Notes

This press release may contain forward-looking statements. These statements include statements regarding the mineral resources at Kombat and the potential mineralization of the Project; the strategies of the company and the capacities of the company to execute those strategies, the expectations of the company for the Kombat project and the future plans and objectives of the company. These statements are based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially due to factors discussed in the management comments and analysis section of our interim and most recent annual financial statements or other reports and documents filed with the TSX Venture Exchange and regulations. applicable Canadian Securities. We assume no obligation to update forward-looking statements, except as required by applicable law.

Neither the 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 more information, contact:

Jed richardson
+1 647 276-6002
[email protected]
Website: www.trigonmetals.com

THE SOURCE: Trigon Metals, Inc.

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