Trigon’s Kalahari Copper Project Wins EU Funding via UNDERCOVER Project
Trigon’s Kalahari Copper Project Wins EU Funding via UNDERCOVER
Project
TORONTO--(BUSINESS WIRE)--January 20, 2025--Trigon Metals Inc. (TSX-V: TM,
OTCQB:PNTZF) (“Trigon” or the “Company”) announces that its Kalahari Copper Project (the
“Project”) has been awarded one of only three spots in the €5 million UNDERCOVER research
project funded by the European Union (EU).
The UNDERCOVER (Unified Novel Deep ExploRation for Critical Ore discoVERy) research
project aims to enhance the responsible supply of raw materials. The Project’s objectives include
advancing deep mineral exploration technologies, stimulating research and development, and
enabling their responsible exploitation by exploration and mining stakeholders within the EU.
Key Highlights of the Program
• The UNDERCOVER research project has been granted €5 million from the EU, with
Trigon’s Kalahari Copper Project selected as one of three exploration projects included in
the initiative.
• This research program will span three years starting January 1, 2025, focusing on
developing innovative methods for successful exploration of Critical Raw Materials
under cover.
The Kalahari Copper Project, a joint venture project between Trigon and Ongwe Minerals,
covers 765,000 hectares within the highly prospective Kalahari Copper Belt in Namibia, the
western extension of the highly prospective copper belt in Botswana. One drillhole adjacent to
the eastern border of Trigon’s Kalahari Copper Project has intersected 83m at 0.7% Cu and 17g/t
Ag. The widespread Kalahari sand cover across much of the Project area necessitates a strategic
exploration approach, and advancements in exploration research achieved through the
UNDERCOVER project will support these efforts.
Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, "It’s an honour to
be selected to participate in such an innovative and potentially transformative project. We look
forward to working with all parties to achieve the ambitious goals of UNDERCOVER."
Proposed Strategic Sale of the Kombat Mine
Trigon’s management team continues to advance the sale of the Kombat Mine to Horizon
Corporation Ltd. (“Horizon”). Trigon and Horizon have begun collaborating on mine planning
and management, working towards completion of the definitive documentation.
Initial capital has been advanced in accordance with the terms of the loan agreement between
Trigon and Horizon. The terms of the Proposed Transaction are available to view in the
Company’s previous press release dated December 16, 2024.
Due to the recent mine interruption, Trigon’s management team is communicating with its
insurance adjustors in Namibia on its business interruption and mechanical claim that occurred
on January 16, 2025.
Further Details of The Research Project that Aims to Develop Deeper Critical Raw
Material Exploration
The EU’s ambitious goals as outlined in the Critical Raw Materials Act (CRMA), NetZero
Industry Act and the European Green Deal will lead to an increase in critical raw material
(CRM) demand. To meet the demand, the utilization of the deposits deeper in the bedrock needs
research and development. The Geological Survey of Finland (GTK) is coordinating the EU
Horizon Europe project that is creating a paradigm shift in the exploration of deep critical raw
materials.
The project aims to develop deep CRM exploration. This will be done by transforming the
mineral systems concept into the first viable strategy for systematically exploring CRM deposits
hidden deeper under cover or in the bedrock. The project will develop and integrate novel
geophysical technologies and methods that are both cost-effective and environmentally friendly.
Strong Network of International and European Cooperation
The research project will run for three years and was launched on January 1, 2025. The 5-
million-Euro project brings together 16 partners from Finland, France, Germany, Czech
Republic, Portugal, Namibia, and Canada. The consortium includes geological surveys,
universities, research institutes, exploration companies, industrial clusters, and Small and
Medium Enterprises (SMEs), highlighting a strong network of international and European
cooperation.
“This collaboration fosters the exchange of knowledge and expertise across borders, aiming at a
comprehensive approach to deep mineral exploration. By leveraging the strengths of each
partner, the project aims to achieve significant advancements in sustainable raw material
exploration,” says Jochen Kamm, Research Professor, Geological Survey of Finland.
In addition to this, the project will cooperate with other EU projects dealing with deep
exploration challenges.
Qualified Person
The scientific and technical information in this release has been reviewed and approved by Dr.
Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, the Company’s “qualified person” as
defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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
redevelopment of the previously producing Kombat Mine.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements
regarding the UNDERCOVER project, prospectivity and mineralization of the Kalahari Copper
Project, the Company’s strategies and the Company’s abilities to execute such strategies, the
Company’s expectations for the Kombat Mine, the loan and sale to Horizon and the timing
thereof 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, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
Website: www.trigonmetals.com