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Trigon Metals Inc V.TM

Alternate Symbol(s):  PNTZF

Trigon Metals Inc. is a Canada-based exploration and development company. The Company is focused on copper and silver holdings in mine-friendly African jurisdictions. The Company has operations in Namibia and Morocco. In Namibia, it holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia generally recognized for its high-grade copper deposits, where the Company is focused on exploration and re-development of the producing Kombat Mine. In Morocco, it is the holder of the Silver Hill and Addana projects, highly prospective copper and silver exploration projects. The Silver Hill is a 16 square kilometers (km2) property located in the Anti-Atlas region. The Kombat Mine is located in the Otavi Mountainland on the Northern Platform Margin of the Damara Orogenic Belt. Its Kalahari Copperbelt Project includes a substantial land package in Namibia with primary Exclusive Prospecting Licenses (EPLs) covering 280 km along the strike of the Kalahari Copper Belt.


TSXV:TM - Post by User

Post by partystockeron Jun 08, 2022 1:06pm
110 Views
Post# 34740815

$TM.v makes some BIG copper discoveries at Kombat Project

$TM.v makes some BIG copper discoveries at Kombat Project

After discovering new ultra high-grade copper mineralization at the Kombat Project in Namibia, Trigon Metals (TSXV: TM) has successfully completed its credit agreement with Sprott Mining. 


On May 17, Trigon reported the discovery of multiple intercepts containing 4.4% Cu, with up to a staggering 10.1% Cu. Drilling at the Central Pit SW extension has outlined newly discovered mineralization that is expected to be incorporated into a mining plan that will result in the expansion of the planned central pit. The results illustrate continuity of the mineralization with a structure that runs the length of the central pit.


Sprott has lent Trigon US$2.5 million to put towards operating expenses at the Kombat Mine. The loan is considered a non-arm’s length transaction, as Eric Sprott owns 31 million common shares of $TM.v (Approximately 18% of the outstanding shares). 


$TM.v is currently recovering from a big dip in late April / early May, trading for a steep discount at $.205. The company is currently valued at an MCAP of CAD $34.78 million. 


As Trigon is currently shipping out concentrate from the Kombat mine, where it has multiple tonnes of copper concentrate stockpiled, I expect to hear updated revenue figures from the company before the end of this quarter. This will be a big catalyst to keep an eye out for. 


https://ceo.ca/@businesswire/high-grade-drill-results-define-new-zone-beside-kombat

 
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