TORONTO, ON / ACCESSWIRE / December 14, 2021 /
Trigon Metals Inc. (TSX-V:TM) ("Trigon" or the "Company") announces an updated National Instrument 43-101 compliant Mineral Reserve estimate and feasibility study for the open pit mine at the Kombat project in Namibia ("Kombat").
Kombat Open Pit Mineral Reserve Estimate
In 2018, the Company published a Mineral Reserve estimate for the Kombat open pit, together with a feasibility study on the open pit project. The Mineral Resource estimate for Kombat was updated in 2020 and again on August 3, 2021, based on the confirmatory resampling program undertaken in early 2021. At that time, as the updated Mineral Resource estimate differed from the estimate used for the 2018 feasibility study, the Company moved the Kombat open pit back to a Mineral Resource estimate stage, as the Mineral Reserves, technical, engineering and economic studies had to be redone to align with the updated Mineral Resources.
The Mineral Resource estimate for Kombat (open pit and underground) as updated on August 3, 2021 is set out in the table below.
Combined Mineral Resource Estimation (Open Pit and Underground) as at 3 August 2021
------------------------------------------ ------- ----- ----- ------ Mineral Resource Estimate Classification Tonnes Cu Pb Ag ------------------------------------------ ------- ----- ----- ------ Mt % % g/t ------------------------------------------ ------- ----- ----- ------ Indicated 12.22 1.94 0.70 13.67 ------------------------------------------ ------- ----- ----- ------ Inferred 1.91 2.19 1.79 6.13 ------------------------------------------ ------- ----- ----- ------
Notes:
1. The open pit Mineral Resource is limited at depth of 160 m for Kombat and 150 m for Gross Otavi with a CuEq cut-off of 0.65% for Kombat and 0.77% for Gross Otavi. 2. The underground Mineral Resource is based on a cut-off grade of 1.5 % CuEq. 3. The CuEq (copper equivalent) is based on copper and silver only (excludes lead). 4. Commodity prices used for the cut-off grades: Cu = USD 9,100/t, Pb = USD 2,500/t, and Ag = USD 27/oz. 5. Historical mine voids have been depleted from the Mineral Resource. 6. Mineral Resources are reported as total Mineral Resources and are not attributed.
The Indicated Mineral Resource estimate comprises 5.28Mt from the open pit, at a grade of 1.00% copper, and 6.93Mt from the underground at a grade of 2.66% copper.
A new feasibility study has now been completed on the Kombat open pit, and an updated Mineral Reserve estimate for the open pit is set out below.
Kombat Project Open Pit Mineral Reserve Estimation as at 3 August 2021
Mineral Reserve Diluted Category Tonnes Grade Content ----------------- ------------ ------------------- ------------------------ Cu Pb Ag Cu Pb Ag ----------------- ------------ ----- ----- ----- ------- ------ ------- Mt % % ppm t t kg ----------------- ------------ ----- ----- ----- ------- ------ ------- Probable 1.54 1.14 0.28 7.49 17,559 4,301 11,508 ----------------- ------------ ----- ----- ----- ------- ------ ------- Total 1.54 1.14 0.28 7.49 17,559 4,301 11,508 ----------------- ------------ ----- ----- ----- ------- ------ -------
Notes:
1. The Mineral Reserve estimation includes only diluted Indicated Mineral Resources which have been converted to Probable Mineral Reserves. 2. No Inferred Mineral Resources have been included in the Mineral Reserve estimation. 3. Mineral Reserve estimation stated at a cut-off of 0.65% Cu. 4. The Ore Reserve estimation was completed using an average Cu price of USD7,054/t and average Ag price of USD20.15/oz over the life of mine. 5. The Pb in the Mineral Reserve estimation under current offtake agreement will not contribute to revenue but will carry a penalty. 6. The Mineral Reserves are reported as total Mineral Reserves and are not attributed.
As set out above, although the Kombat underground Mineral Resource estimate does contain resources in the Indicated category, only the open pit Mineral Resources have been considered in the Mineral Reserve conversion process at this stage, as the underground study work is still based on a Preliminary Economic Assessment level of confidence and requires additional work which will be undertaken as a second phase of the restart of the Kombat mine.
Feasibility Study
Production and Processing
The Kombat open pit mine has a potential life of mine of 5 years, mining a total of 1.5Mt ore, at an average grade of 1.14% copper and 7.49 g/t silver.
Item Unit Kombat --------------------------- ------- ------- Open Pit Waste Tonnes Mined kt 10,488 --------------------------- ------- ------- Open Pit Ore Tonnes Mined kt 1,536 --------------------------- ------- ------- Stripping Ratio to:tw 6.83 --------------------------- ------- ------- Total Tonnes Mined kt 12,024 --------------------------- ------- ------- Average Cu Grade Mined % 1.14% --------------------------- ------- ------- Average Ag Grade Mined g/t 7.49 --------------------------- ------- ------- Average Cu Recovery % 91.9% --------------------------- ------- ------- Total 22% Cu Concentrate kt 73 --------------------------- ------- ------- LoM Years 5 --------------------------- ------- -------
Capital