Latest news with #KalahariCopperProject
Business Wire
2 days ago
- Business
- Business Wire
Trigon Defines Key Exploration Targets on Its Kalahari Copper Project, Namibia
TORONTO--(BUSINESS WIRE)-- Trigon Metals Inc. (TSX-V: TM, OTCPK: PNTZF) ("Trigon" or the "Company") is pleased to announce the successful completion of a drone-based aeromagnetic survey over a key area of its Kalahari Copper Project. The Company has also finalized the data processing and 3D inversion, enabling interpretation and the definition of highly prospective exploration targets which will be the focus of upcoming exploration campaigns. The survey area was selected for its favourable stratigraphy and structure, as well as its proximity to known mineralization at the Fiesta-Fortuna Prospect (Noronex Limited), located 4 km to the east (Fig. 1). Thick Kalahari sand cover (>40 m) necessitated the use of detailed airborne geophysical surveys to identify prospective targets. Structurally, the area is dominated by two regional-scale, doubly plunging anticlines. Ellipsoidal magnetic lows are interpreted to represent tight Ngwako Pan cored anticlines, flanked by magnetically positive anomalies associated with the D'Kar Formation. The Heimat Fold Closure lies within the same domal structure as the Fiesta-Fortuna Prospect (Noronex Ltd) but is interpreted to occur higher in the stratigraphy, within the D'Kar Formation and away from the traditionally targeted contact with the lower Ngwako Pan Formation (Fig. 2). This target is based on Trigon's understanding of the Kalahari Copper Belt (KCB) mineralization as likely having both diagenetic and epigenetic origins. Most KCB deposits are semi-stratiform and located near the Ngwako Pan/D'Kar contact. While minor mineralization is often found along this contact, major deposits also tend to be spatially linked to regional anticlines or domes, and in some cases to second-order faulting. The exploration focus is therefore on domal features with either an exposed Ngwako Pan/D'Kar contact or with its D'Kar 'roof' still intact. The Heimat Fold Closure represents one such target, with known mineralization immediately to the east (along strike). Similarly, the Bushman Dome target area, covers a large Ngwako Pan Fm cored dome immediately to the south of the Heimat Dome. 3D inversion of the magnetic data has enabled Trigon to identify the relative depth of the prospective Ngwako Pan/D'Kar contact along the hinge zone of the Heimat Dome (Fig. 3). Trigon plans to use this knowledge to guide its maiden drilling program at the Kalahari Project. Additional magnetic targets identified within this prospective zone, include cigar shaped magnetic highs, likely representing 2 nd order, parasitic folding and linear structures attributed to late Damaran age faulting and thrusting. Further interrogation of the data is underway in order to identify specific drill targets. Jed Richardson, CEO and Executive Chairman of Trigon, commented, 'Our work at the Kalahari Copper Project has now moved beyond early-stage reconnaissance to a targeted strategy based on detailed geophysics. The survey results have given us a clear picture of where the most prospective structures lie, and we're now positioned to advance towards drilling with a high degree of confidence. This is an exciting step forward as we unlock value from a district that continues to demonstrate world-class potential.' Dr. Andreas Rompel, VP Exploration, adds, "The geological data strongly indicate folding along an axis trending WSW. In addition, a clear contact between two significant lithologies has been identified, which delineates a compelling drill target. We are excited to advance the next phases of exploration on what we believe is a highly prospective and prolific project." Qualified Person The scientific and technical information in this release has been reviewed and approved by Dr. Andreas Rompel, (400274/04), FSAIMM, the Company's 'qualified person' as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Dr. Rompel is Trigon's VP Exploration and is not considered to be independent of the Company. Trigon Metals Inc. Trigon Metals Inc. is a publicly trading Canadian exploration and development company with a its core focus on copper and silver holdings in mining-friendly African jurisdictions. The Company holds the Kalahari Copperbelt Project in Namibia. In Morocco, the Company is advancing two exploration projects; Addana, which hosts silver-bearing veins along with other metals, and Silver Hill, a sedimentary copper prospect that has already undergone drilling. Cautionary Notes This news release may contain forward-looking statements. These statements include statements regarding the exploration drilling at the Kalahari Project, the prospectivity and mineralization at the Kalahari Project, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kalahari 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.
National Post
24-04-2025
- Business
- National Post
Trigon Metals Announces Annual and Special Meeting of Shareholders to Vote on Sale of its Interest in the Kombat Mine
Article content Article content TORONTO — Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) ('Trigon' or the 'Company') announces that it will be holding its annual and special meeting of common shareholders on Wednesday, June 11, 2025, at 10:00 a.m. ET (the 'Meeting') to, among other matters, vote on the proposed sale of the Company's ownership interest in the Kombat Mine to Horizon Corporation Limited (the 'Proposed Transaction'). Article content Trigon and Horizon are in the final stages of negotiation the definitive share purchase agreement (the 'SPA') that will govern the Proposed Transaction and the parties expect to be able to execute the SPA in the coming days. Please see the Company's press releases dated February 11, 2025 and April 2, 2025 for additional details regarding the Proposed Transaction. The Company will provide further updates as the Proposed Transaction advances. The completion of the Proposed Transaction remains subject to regulatory approvals, including TSX Venture Exchange approval, Trigon shareholder approval, third-party consents, and other customary closing conditions. Article content The Proposed Transaction is expected to transition Trigon from an under-capitalized operator to a well funded exploration company. This positions Trigon to focus on the full-scale advancement of its copper and silver exploration projects in Morocco, and the Kalahari Copper Project in Namibia. If approved, the Proposed Transaction will provide Trigon with the financial flexibility and capital necessary to aggressively pursue development activities at its Silver Hill, Addana and Kalahari projects, with no additional dilution to shareholders. Jed Richardson, Executive Chairman and CEO of Trigon, commented: Article content 'With visibility to approximately up to US$40M in payments plus a potentially lucrative royalty, this is an opportunity to concentrate our efforts where we see the highest growth potential and strongest returns, and return some capital to our shareholders over time. We are excited about what lies ahead.' Article content A package including the management information circular, which will describe the terms of the Proposed Transaction and additional details of the Meeting, will be mailed to Trigon shareholders of record as of May 6, 2025. The mailout will also include a link to download the Proposed Transaction Information Packet from the Trigon website. Article content About Trigon Metals Article content Trigon is a publicly traded Canadian exploration and development company focused on advancing copper and silver projects in Africa. The Company's portfolio includes an 80% interest in five mining licences in Namibia's Otavi Mountainlands, as well as the Kalahari Copper Project and its Moroccan exploration projects, including Addana and Silver Hill. Article content This news release may contain forward-looking statements. These statements include statements regarding the Meeting, the Proposed Transaction, the Company's ability to close the Proposed Transaction, regulatory approvals and operational plans, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat mine, 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. Article content Article content Article content Article content Article content
Business Wire
24-04-2025
- Business
- Business Wire
Trigon Metals Announces Annual and Special Meeting of Shareholders to Vote on Sale of its Interest in the Kombat Mine
TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) ('Trigon' or the 'Company') announces that it will be holding its annual and special meeting of common shareholders on (the 'Meeting') to, among other matters, vote on the proposed sale of the Company's ownership interest in the Kombat Mine to Horizon Corporation Limited (the 'Proposed Transaction'). Trigon and Horizon are in the final stages of negotiation the definitive share purchase agreement (the 'SPA') that will govern the Proposed Transaction and the parties expect to be able to execute the SPA in the coming days. Please see the Company's press releases dated February 11, 2025 and April 2, 2025 for additional details regarding the Proposed Transaction. The Company will provide further updates as the Proposed Transaction advances. The completion of the Proposed Transaction remains subject to regulatory approvals, including TSX Venture Exchange approval, Trigon shareholder approval, third-party consents, and other customary closing conditions. The Proposed Transaction is expected to transition Trigon from an under-capitalized operator to a well funded exploration company. This positions Trigon to focus on the full-scale advancement of its copper and silver exploration projects in Morocco, and the Kalahari Copper Project in Namibia. If approved, the Proposed Transaction will provide Trigon with the financial flexibility and capital necessary to aggressively pursue development activities at its Silver Hill, Addana and Kalahari projects, with no additional dilution to shareholders. Jed Richardson, Executive Chairman and CEO of Trigon, commented: 'With visibility to approximately up to US$40M in payments plus a potentially lucrative royalty, this is an opportunity to concentrate our efforts where we see the highest growth potential and strongest returns, and return some capital to our shareholders over time. We are excited about what lies ahead.' A package including the management information circular, which will describe the terms of the Proposed Transaction and additional details of the Meeting, will be mailed to Trigon shareholders of record as of May 6, 2025. The mailout will also include a link to download the Proposed Transaction Information Packet from the Trigon website. About Trigon Metals Trigon is a publicly traded Canadian exploration and development company focused on advancing copper and silver projects in Africa. The Company's portfolio includes an 80% interest in five mining licences in Namibia's Otavi Mountainlands, as well as the Kalahari Copper Project and its Moroccan exploration projects, including Addana and Silver Hill. Cautionary Notes This news release may contain forward-looking statements. These statements include statements regarding the Meeting, the Proposed Transaction, the Company's ability to close the Proposed Transaction, regulatory approvals and operational plans, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat mine, 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.
Yahoo
05-04-2025
- Business
- Yahoo
Trigon Metals advances Kombat Mine interest sale to Horizon
Trigon Metals is progressing towards the previously announced sale of its 80% ownership interest in the Kombat Mine in Namibia to Horizon Corporation. In February 2025, Trigon Metals amended the agreement with Horizon, adjusting the financial structure of the proposed transaction. The principal loan amount was reduced from $5m to $4m, with Horizon investing $500,000 in Trigon's private placement offering. Despite missing the initial target date for a binding share purchase agreement, the companies are finalising the transaction terms, with Trigon expecting successful completion. The sale terms include a $4m structured loan from Horizon to Trigon, with a $2m additional loan option. Trigon's shares in the Kombat Mine are priced at $24m, payable in eight quarterly instalments, while Trigon retains a 1% net revenue royalty under specific conditions. The revised terms provide Trigon with enhanced financial flexibility and continued exposure to the Kombat Mine's potential. The agreement allows Trigon to secure near-term capital while minimising shareholder dilution and enables Horizon to spearhead the mine's development. Furthermore, this strategic move allows Trigon to focus on other core projects such as the Kalahari Copper Project and the Safi Silver spinout. Trigon Metals CEO and executive chairman Jed Richardson said: 'We are pleased with the progress we have made toward closing the sale of Trigon's interest in the Kombat Mine to Horizon. While we would have preferred a faster pace, we are working through the necessary steps to ensure a successful and seamless transition. 'Both Trigon and Horizon remain fully engaged in finalising the transaction, and we look forward to delivering a positive outcome for our shareholders.' Completion of the transaction is subject to regulatory approvals including TSX Venture Exchange approval, Trigon shareholder approval, third-party consents and other customary closing conditions. In January 2025, Trigon Metals suspended operations at the Kombat Mine for six to nine months to address unexpected failures of its main dewatering pumps. "Trigon Metals advances Kombat Mine interest sale to Horizon" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
