Latest news with #TrigonMetals
National Post
2 days ago
- Business
- National Post
Trigon Defines Key Exploration Targets on Its Kalahari Copper Project, Namibia
TORONTO — 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. Article content Article content 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. Article content 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. Article content 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. Article content 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. Article content Article content Trigon Metals Inc. Article content 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. Article content Cautionary Notes Article content 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. Article content Article content Article content Article content Article content
National Post
31-07-2025
- Business
- National Post
Trigon Metals Announces Horizon to Advance US$2 Million Payment and Provides Exploration Update
Article content Article content TORONTO — Trigon Metals Inc. (TSX-V: TM; OTCPK: PNZTF; FRA:TZU2) ('Trigon' or the 'Company') is pleased to announce that it has received the initial portion (US$1M) of the US$2M advance from Horizon Corporation Ltd. ('Horizon') ahead of August 4 th deadline and has notified the Company of its intention to advance the balance on or before August 4, 2025. Article content The accelerated payment follows the successful Trigon shareholder vote on July 4, 2025, and demonstrates Horizon's commitment to closing the transaction in a timely manner. Please see Trigon's press release dated May 29, 2025 for further details regarding the sale of Trigon's interest in the Kombat Mine to Horizon. Article content Strategic Shift to Exploration – Addana Drill Program Planned Article content With the Company's transition away from production at the Kombat Mine, Trigon is sharpening its focus on its exploration assets, particularly in Morocco. A drill program is planned at the Addana Project, located in the established mining region of Morocco. The program will target high-priority mineralized zones beneath existing underground workings and is designed to confirm and expand on known copper mineralization. Article content Initial drilling is budgeted at approximately US$350,000, and preparations are underway to mobilize field crews in the coming weeks. This marks the first phase of an exploration-driven strategy aimed at unlocking value from the Company's high-potential copper and silver assets. Article content Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, ' We are pleased to see Horizon moving proactively to advance the first payment ahead of schedule. This show of confidence in the transaction provides us with the immediate financial flexibility to begin work at Addana. As we shift our focus toward exploration, we're excited about the prospects in Morocco and look forward to delivering results that support long-term value creation for our shareholders. ' Article content Qualified Person Article content 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. Article content About Trigon Metals Inc. Article content 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. Article content Cautionary Notes Article content This news release may contain forward-looking statements. These statements include statements regarding Horizon and the proposed sale of the Kombat Mine, the schedule of payments, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Addana Project, the prospectivity and mineralization at the Addana Project, the Company's exploration plan 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
National Post
30-07-2025
- Business
- National Post
Trigon Metals Reports Fourth Quarter Operational and Financial Results
Article content Article content TORONTO — Trigon Metals Inc. (TSX-V: TM, OTCPK: PNTZF, FRA: TZU2) ('Trigon' or the 'Company') announces it has filed its financial statements for the year ended March 31, 2025 and details below the operational results for the quarter ending March 31, 2025. All amounts are expressed in U.S. dollars, unless otherwise stated. Article content Highlights Article content Copper Production of 310,190 pounds and silver production of 6,878 ounces in Q4 at the Kombat Mine, following operational suspension in January 2025. Net Income: $18.1 million for the quarter, or ($0.38) per share, largely due to reversal of impairments and stream restructuring gains. Adjusted EBITDA (1) was ($906,952), reflecting reduced output and continued care and maintenance of the Kombat Mine. Following the pause of mining operations announced on January 16, 2025, the Company has withdrawn all production, capex and exploration guidance. The Trigon management team is focused on completing the sale of its interests in the Kombat mine to Horizon, as set out below. Mining operations were suspended, with the majority of the onsite employees retrenched. Article content During the quarter ended March 31, 2025, Trigon produced 310,190 pounds of copper and 6,878 ounces of silver prior to halting operations at the Kombat mine due to flooding in January 2025. C1 cash cost was $7.50 per pound. The high cash cost per pound metric was due to the low copper production combined with low copper plant recovery. Revenue totaled $1.92 million, while adjusted EBITDA (1) was ($906,952). Net income was $18.1 million due to the reversal of prior impairments. Article content OP = Open Pit UG = Underground Article content (1)EBITDA, net income (loss) attributable to owners of the Company, income (loss) per share attributable to owners of the Company, net (cash), working capital, C1 cash cost, copper production are non-IFRS measures. These measures do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. Please refer to the Company's discussion of Non-IFRS measures in its Management Discussion and Analysis for the three months ended June 30, 2024. Jed Richardson, CEO and Executive Chairman of Trigon, commented, ' This quarter was shaped by both significant operational challenges and transformative corporate developments. While the flooding at Kombat required us to place operations on care and maintenance, the signing of the definitive agreement to sell Trigon's interest in the mine saved the Company. It strengthens our financial position and allows us to focus our energy and capital on high-potential exploration projects in Morocco and Namibia. We thank our team for navigating this period with resilience and remain optimistic about Trigon's next chapter.' Sale of Trigon's Interest in the Kombat Mine On May 27, 2025, the Company signed a definitive agreement to sell its interest in the Kombat Mine to Kamino Mineral Ltd., an affiliate of Horizon Corporation (the 'Transaction'). The $24 million sale, payable over eight quarterly instalments, includes additional contingent payments tied to copper prices and mill expansion milestones. The Transaction is expected to provide Trigon with near-term liquidity and exposure to future upside at Kombat while redirecting strategic focus to its exploration assets. Article content Private Placement Article content In Q4, Trigon completed a non-brokered private placement in two tranches, raising gross proceeds of $2.53 million. Proceeds were used to fund corporate expenses and maintain the Kombat site during care and maintenance. Article content Strategic Shift to Focus on Exploration Article content Trigon is progressing its exploration campaigns at the Silver Hill and Addana projects in Morocco. The Company's technical team continues to evaluate extensive polymetallic vein systems with potential for near-surface, high-grade mineralization. Article content Work continues at the Kalahari Copperbelt Project in Namibia, where Trigon holds an option to earn up to 70% of a highly prospective land package along strike from producing deposits. A total of $303,742 has been spent toward a $1 million exploration commitment. Article content Qualified Person Article content The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101. Article content Non IFRS Measures Article content The Company has included certain non-IFRS performance measures, namely working capital, C1 costs, EBITDA and Adjusted EBITDA throughout this document. In the mining industry, these are common non-IFRS performance measures but do not have a standardized meaning. As a result, these measures may not be comparable to similar measures presented by other companies. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, we and certain investors use this information to evaluate the Company's performance and ability to generate cash, profits and meet financial commitments. Non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As a result, these measures may not be comparable to similar measures presented by other companies. Article content Further details of the financial results, the Q4 and year end financial statement and management discussion and analysis ('MD&A') are available under the Company's profile on SEDAR+ at Article content Trigon Metals Inc. Article content 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. Article content Cautionary Notes Article content This news release may contain forward-looking statements. These statements include statements regarding the Company's mining operations, the financial results of the Company, the timing and results of mining activities, the Company's strategies and the Company's abilities to execute such strategies, the Company's expectations for the Kombat mine, the restarting of the Kombat mine, the economic viability of the Kombat mine, the Company's ability to obtain financing, the Transaction, the Company's ability to complete the Transaction, the Company's ability to expand or replace mineral resources and reserves, the projected costs and production at the Kombat mine, planned capital expenditures, the prices of copper and silver, foreign currency exchange rates, 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
National Post
23-07-2025
- Business
- National Post
Trigon Metals Announces Advance of Additional Loan Tranches Under Horizon Agreement
Article content Article content TORONTO — Trigon Metals Inc. (TSXV: TM; OTC: PNTZF) ('Trigon' or the 'Company') announces that it has entered into an amendment (the 'Annexure') to the existing loan agreement (the 'Loan Agreement') with Horizon Corporation Limited ('Horizon' or the 'Lender'), originally dated December 12, 2024, and as amended on February 11, 2025. Article content The Annexure provides for the advance of additional loan tranches of up to USD$7.2 million (the 'Additional Tranches') to support ongoing operations at the Kombat Mine in Namibia. These advances are expected to occur monthly in tranches of approximately USD$255,000 per month, beginning no later than July 31, 2025, and will continue until the closing of the proposed sale by Trigon of its interest in the Kombat mine to Horizon (the 'Transaction') (please see the Company's press release dated May 29, 2025 for further details regarding the Transaction). Article content The Additional Tranches are on the same terms as the US$4,000,000 loan previously advanced by Horizon under the existing Loan Agreement (please see the Company's press release dated May 29, 2025 for further details regarding the Loan Agreement). All obligations related to the Additional Tranches will be acquired by Horizon in connection with the closing of the Transaction, releasing Trigon from the debt. Article content 'This loan amendment ensures continuity of funding at the Kombat Mine during the transition period with Horizon. The additional support allows the team in Namibia to maintain operational momentum and support our workforce while we work towards closing the transaction.' Article content All other terms of the Loan Agreement remain unchanged. Article content About Trigon Metals Inc. Article content 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. Article content Cautionary Notes Article content This news release may contain forward-looking statements. These statements include statements regarding the Loan Agreement, the Annexure, the operations at the Kombat Mine, the Transaction, the Company's ability to close the Transaction and the timing thereof, the Company's expectations with respect to the advancement of funds and use of proceeds, the timing and completion of the proposed transaction, 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. 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
National Post
07-07-2025
- Business
- National Post
Trigon Metals Announces Results of Annual and Special Meeting
Article content Article content TORONTO — Trigon Metals Inc. (TSX-V: TM, OTC: PNTZF) ('Trigon' or the 'Company') is pleased to report that all matters presented to Trigon shareholders in the management information circular dated June 2, 2025 have been approved by Trigon shareholders at the meeting held on July 4, 2025 (the 'Meeting'). The sale of Trigon's interest in the Kombat mine to Kamino Minerals Limited, an affiliate of Horizon (please see press release dated May 29, 2025 for further information) was approved by more than 99% of the votes cast at the Meeting. Shareholders at the Meeting also approved the election of each of the Trigon board of director nominees, the appointment of the Company's auditors and the Company's stock option plan. Article content Trigon management would like to thank shareholders for their participation and continuing support. Article content Trigon Metals Inc. Article content 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% 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 re-development of the previously producing Kombat Mine. Article content Cautionary Notes Article content This news release may contain forward-looking statements. These statements include statements regarding the Meeting, the economic viability of the Kombat mine and the Company, the Company's ability to obtain adequate financing, 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
