Trigon Metals Announces Filing of NI 43-101 Technical Report on the Kombat Mine
Trigon Metals Announces Filing of NI 43-101 Technical Report on the Kombat Mine
TORONTO--(BUSINESS WIRE)--March 20, 2024--Trigon Metals Inc. (TSX-V: TM, OTCQB: PNZTF)
("Trigon" or the "Company") is pleased to announce that it has filed on SEDAR+ an independent Technical
Report (“the Technical Report”) prepared by SRK Consulting South Africa (Pty) Ltd (“SRK”) in accordance
with Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101") for its Kombat mine in Namibia.
The Technical Report titled “Independent Technical Report for Kombat’s Asis West Mine, Namibia” is dated
March 15, 2024 with an effective date of February 29, 2024, and supports the disclosure made by the Company
in its press release dated March 4, 2024 announcing the positive feasibility study for its Kombat Asis West
underground mine and updated mineral resources and reserves estimates. There are minor changes to the Pb
grades published in the Mineral Resource tables in the March 4, 2024 press release.
The Technical Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the
Company's website (www.trigonmetals.com).
Mineral Resources and Mineral Reserve Estimates
Mineral Resources
The Mineral Resource estimate presented represents the third Mineral Resource estimate prepared for the
Kombat Mine project in accordance with NI 43-101 by Minxcon (Pty) Ltd (an independent consulting company)
commissioned by Trigon to undertake this work. The Mineral Resources have been independently reviewed by
SRK and reported using updated techno-economic factors.
Mineral Resource estimates are shown in Tables 1 to 3 below. Mineral Resources are reported inclusive of any
Mineral Reserves that may be derived from them.
Table 1: Open Pit Mineral Resource Statement for Kombat Mine as at 29 February 2024
Area
Mineral
Resource
Category
Tonnes
(Mt)
Density
(t/m3)
Grade Content
Cu (%) Pb (%) Ag (g/t) Cu (t) Pb (t) Ag (kg)
Kombat East
Indicated
2.26 2.79 0.92 0.36 6.01 20 760 8 064 1 593
Kombat
Central 0.87 2.78 1.07 0.13 9.32 9 294 1 167 148
Kombat
West 0.01 2.98 1.95 4.69 17.43 268 645 10
Total
Indicated 3.14 2.79 0.97 0.31 6.98 30 322 9 876 1 751
Gross Otavi Inferred 0.54 2.85 0.74 2.27 1.15 3 943 12 186 615
Total
Inferred 0.54 2.85 0.74 2.27 1.15 3 943 12 186 615
Notes:
1. A Mineral Resource is not a Mineral Reserve, and there is no guarantee that all or part of the Mineral
Resource will be converted to a Mineral Reserve
2. The Mineral Resources have been depleted with historical mining pit shells and underground voids
3. The Mineral Resources are reported within an optimised pit shell, based on the techno-economic factors
disclosed above
4. The Kombat Mineral Resources are reported above a 0.53% Cu cut-off, and the Gross Otavi Mineral
Resources above a 0.60% CuEq cut-off
5. Mineral Resources are reported as total Mineral Resources and not attributable to Trigon
6. Mineral Resources are reported inclusive of any Mineral Reserves that may be derived from them
7. The Gross Otavi Mineral Resources include geological losses of 15%, depletion for unknown historical
development of 1% and reduced by a porosity factor by 7.5%
Table 2: Underground Mineral Resource Statement for Kombat Mine at 29 February 2024
Area
Mineral
Resource
Category
Tonnes
(Mt)
Density
(t/m3)
Grade Content
Cu (%) Pb (%) Ag (g/t) Cu (t) Pb (t) Ag (kg )
Kombat East
Indicated
0.36 2.81 1.44 1.23 9.23 5 219 4 443 3 346
Kombat
Central 0.85 2.81 1.55 0.86 12.55 13 173 7 299 10 664
Kombat
West 1.18 2.83 1.90 1.30 11.26 22 393 15 319 13 255
Asis West 7.53 2.82 2.38 0.80 18.02 179 213 60 603 135 707
Gap 0.50 2.79 1.89 0.16 9.90 9 529 822 4 990
Total
Indicated 10.42 2.82 2.20 0.85 16.11 229 527 88 486 167 962
Kombat East
Inferred
0.00 2.83 1.45 1.79 13.64 0 0 0
Kombat
Central 0.01 2.88 2.02 2.74 0.01 187 254 0
Kombat
West 0.13 3.68 5.00 10.50 0.08 6 377 13 399 11
Asis West 0.12 2.82 2.49 0.71 13.74 2 946 846 1 628
Gap 0.01 2.79 1.64 0.17 32.79 229 24 458
Asis Far
West 1.53 2.79 2.15 0.37 7.99 32 763 5 703 12 196
Total
Inferred 1.80 2.84 2.37 1.13 7.96 42 503 20 226 14 293
Notes:
1. A Mineral Resource is not a Mineral Reserve, and there is no guarantee that all or part of the Mineral
Resource will be converted to a Mineral Reserve
2. The Mineral Resources have been depleted with historical mining underground voids
3. The Mineral Resources are reported above a 1.2% CuEq cut-off
4. Mineral Resources are reported as total Mineral Resources and not attributable to Trigon
5. Mineral Resources are reported inclusive of any Mineral Reserves that may be derived from them
6. No geological losses are applied
Table 3: Total Mineral Resource statement for Kombat Mine as at 29 February 2024
Source
Mineral
Resource
Category
Tonnes
(Mt)
Density
(t/m3)
Grade Content
Cu (%) Pb (%) Ag (g/t) Cu (t) Pb (t) Ag (kg)
Open Pit
Indicated
3.14 2.79 0.97 0.31 6.98 30 322 9 876 1 751
Underground 10.42 2.82 2.20 0.85 16.11 229 527 88 486 167 962
Total
Indicated 13.56 2.81 1.92 0.73 14.00 259 849 98 362 169 713
Open Pit
Inferred
0.54 2.85 0.74 2.27 1.15 3 943 12 186 615
Underground 1.80 2.84 2.37 1.13 7.96 42 503 20 226 14 293
Total
Inferred 2.33 2.85 1.99 1.39 6.39 46 446 32 412 14 908
Notes:
1. A Mineral Resource is not a Mineral Reserve, and there is no guarantee that all or part of the Mineral
Resource will be converted to a Mineral Reserve
2. The Mineral Resources have been depleted with historical mining underground voids
3. The underground Mineral Resources are reported above a 1.2% CuEq cut-off. The Kombat open Pit
Mineral Resources (All indicated) are reported above a 0.53% Cu cut-off, and the Gross Otavi open Pit
Mineral Resources (All Inferred) above a 0.60% CuEq cut-off
4. Mineral Resources are reported as total Mineral Resources and not attributable to Trigon
5. Mineral Resources are reported inclusive of any Mineral Reserves that may be derived from them
6. No geological losses are applied at Kombat. The Gross Otavi Mineral Resources include geological losses
of 15%, depletion for unknown historical development of 1% and reduced by a porosity factor by 7.5%
Mineral Reserves
The open pit Mineral Reserves estimates as set out in Table 4 are limited to the Ore Capping open pits, which are
situated in the Kombat East and Central areas. The LoM pit has been excluded due to interference with current
underground infrastructure. The open pit Mineral Reserve estimate is declared at the RoM stockpile as a
reference point.
Table 4: Open Pit Mineral Reserve Statement for Kombat Mine as at 29 February 2024
Area
Mineral
Reserve
Category
Tonnes
(Mt)
Grade Content
Cu
(%)
Ag
(g/t)
Cu
(t)
Ag
(kg)
Kombat East Probable 0.75 0.93% 5.7 6 953 4 299
Total Probable 0.75 0.93% 5.7 6 953 4 299
Notes:
1. The Mineral Reserves have been depleted with historical mining pit shells and underground voids.
2. The Mineral Reserves are reported within pit designs and scheduled.
3. The Kombat Mineral Reserves are reported above a 0.56% Cu cut off.
4. Mineral Reserves are reported as total Mineral Reserves and not attributable to Trigon.
5. The Mineral Reserve statement excludes 13.0 kt at 0.83% Cu sitting in stockpile.
The Mineral Reserves estimates for the underground mining schedule are set out in Table 5 below. The Mineral
Reserves are reported at the point where the ore is fed into the processing plant. The Indicated Mineral
Resources at No 3 shaft below the ore capping pit were not considered to be converted to Mineral Reserves at
the time of the study. This was mainly due to higher Pb levels which were not considered to be marketable at the
time and will be included in future study work.
Table 5: Kombat Asis West Underground Mineral Reserve as at 29 February 2024
Area
Mineral
Reserve
Category
Tonnes
(Mt)
Grade Content
Cu Ag Cu Ag
(%) (g/t) (t) (kg)
Asis West Probable 1.64 3.16% 22.8 51 643 37 393
Total Probable 1.64 3.16% 22.8 51 643 37 393
Notes:
1. Applied a dilution factor 0.5 m envelope of ore below cut-off in the stopes.
2. Applied an overbreak of 5% in waste development.
3. Lashing or mucking loss of blasted material in the stopes at 2%.
4. Applied a cut-off of 1.5% Cu ore.
5. The Mineral Reserve estimates are declared at the shaft head.
6. Cu metallurgical recovery applied is 93%.
The combined Mineral Reserves estimates for the Kombat mine are set out in Table 6 below.
Table 6: Kombat Combined Mineral Reserve as at 29 February 2024
Area
Mineral
Resource
Category
Tonnes
(Mt)
Grade Content
Cu Ag Cu Ag
(%) (g/t) (t) (kg)
Asis West
Underground Probable 1.64 3.16% 22.8 51 643 37 393
Open pit Probable 0.75 0.93% 5.7 6 953 4 299
Stockpile Probable 0.01 0.83% 2.5 108 33
Total Probable 2.40 2.40% 17.4 58 704 41 726
Qualified Person
The technical information presented in this press release has been reviewed and approved for disclosure by
Andrew McDonald CEng MIMMM FSAIMM, SRK Principal Engineer and Competent Valuator, Jaco van
Graan, Pr Eng MSAIMM, SRK Associate Partner and Principal Mining Engineer, Mark Wanless Pr.Sci.Nat
FGSSA MGASA, SRK Partner and Principal Geologist and Joseph Mainama PrEng MSAIMM, SRK Partner
and Principal Mining Engineer who are Qualified Persons as defined by NI 43-101.
Trigon Metals Inc.
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. In Morocco, the
Company is the holder of the Silver Hill project, a highly prospective copper and silver exploration project.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the
Kombat Mine, the mineralization of the Kombat Mine, the timing and results of economic studies including the
feasibility study, the economic viability of the Kombat Mine, mineral resources and mineral reserves estimates,
ability to realize on projected economic estimates, timing of receipts of permits and approvals, future exploration
and development plans and results 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.
Contacts
For further information, please contact:
Jed Richardson
+1 647 276 6002
Website: www.trigonmetals.com