Trigon Metals Announces Achievement of Key Mining Milestone — Underground Mining Operations Averaging 980 tpd of Ore Over 30-day Rolling Period at Kombat Mine, Namibia
Trigon Metals (TSX-V: TM; OTCQB: PNTZF) has achieved a key milestone at its Kombat mine in Namibia, mining an average of 980 tonnes of ore per day from underground operations over a 30-day period. This surpasses the 900 tonnes per day requirement set by Sprott Private Resource Streaming and Royalty, 13 months ahead of schedule.
The company will pause open pit operations at the end of September 2024, focusing on higher-grade underground ore. This decision is based on the successful recommissioning of the underground mine, the significant grade differential, and the current milling capacity constraint of 1,000 tonnes per day.
Trigon's CEO, Jed Richardson, stated that this achievement de-risks the Sprott streaming agreement and demonstrates the company's ability to meet and exceed feasibility study targets.
Trigon Metals (TSX-V: TM; OTCQB: PNTZF) ha raggiunto un traguardo importante nella sua miniera di Kombat in Namibia, estraendo una media di 980 tonnellate di minerale al giorno dalle operazioni sotterranee per un periodo di 30 giorni. Questo supera il requisito di 900 tonnellate al giorno stabilito da Sprott Private Resource Streaming e Royalty, con 13 mesi di anticipo rispetto al programma.
L'azienda sospenderà le operazioni in superficie alla fine di settembre 2024, concentrandosi sulle miniere sotterranee di maggiore qualità. Questa decisione si basa sul ripristino riuscito della miniera sotterranea, sul significativo differenziale di qualità e sulla attuale capacità di macinazione limitata a 1.000 tonnellate al giorno.
Il CEO di Trigon, Jed Richardson, ha dichiarato che questo risultato riduce i rischi nell'accordo di streaming con Sprott e dimostra la capacità dell'azienda di raggiungere e superare gli obiettivi dello studio di fattibilità.
Trigon Metals (TSX-V: TM; OTCQB: PNTZF) ha alcanzado un hito clave en su mina de Kombat en Namibia, extrayendo un promedio de 980 toneladas de mineral por día de operaciones subterráneas durante un período de 30 días. Esto supera el requisito de 900 toneladas por día establecido por Sprott Private Resource Streaming y Royalty, con 13 meses de anticipación al cronograma.
La compañía pausará las operaciones a cielo abierto a finales de septiembre de 2024, enfocándose en mineral subterráneo de mayor grado. Esta decisión se basa en la exitosa reactivación de la mina subterránea, la significativa diferencia de grado y la actual limitación de capacidad de procesamiento de 1.000 toneladas por día.
El CEO de Trigon, Jed Richardson, afirmó que este logro reduce los riesgos del acuerdo de streaming con Sprott y demuestra la capacidad de la empresa para cumplir y superar los objetivos del estudio de viabilidad.
Trigon Metals (TSX-V: TM; OTCQB: PNTZF)는 나미비아의 콤바트 광산에서 30일 동안 평균 하루 980톤의 광석을 지하에서 채굴하여 중요한 이정표를 달성했습니다. 이는 Sprott Private Resource Streaming 및 Royalty에서 설정한 하루 900톤의 요구를 13개월 앞당긴 것입니다.
회사는 2024년 9월 말에 노천 채굴 작업을 중단할 예정이며, 고품위의 지하 광석에 집중할 것입니다. 이 결정은 지하 광산의 성공적인 재가동, 중요한 품위 차이, 그리고 현재 하루 1,000톤의 가공 용량 제약에 기반하고 있습니다.
Trigon의 CEO인 Jed Richardson은 이 성과가 Sprott의 스트리밍 계약의 위험을 줄이며, 회사가 타당성 조사 목표를 충족하고 초과 달성할 수 있는 능력을 보여준다고 밝혔습니다.
Trigon Metals (TSX-V: TM; OTCQB: PNTZF) a atteint une étape clé dans sa mine de Kombat en Namibie, en extrayant en moyenne 980 tonnes de minerai par jour d'opérations souterraines sur une période de 30 jours. Cela dépasse l'exigence de 900 tonnes par jour fixée par Sprott Private Resource Streaming et Royalty, avec 13 mois d'avance sur le calendrier.
La société mettra en pause les opérations à ciel ouvert à la fin de septembre 2024, se concentrant sur le minerai souterrain de meilleure qualité. Cette décision est fondée sur le redémarrage réussi de la mine souterraine, le différentiel de qualité significatif et la contrainte actuelle de capacité de traitement de 1 000 tonnes par jour.
Le CEO de Trigon, Jed Richardson, a déclaré que cette réussite réduit les risques liés à l'accord de streaming avec Sprott et démontre la capacité de l'entreprise à atteindre et dépasser les objectifs de l'étude de faisabilité.
Trigon Metals (TSX-V: TM; OTCQB: PNTZF) hat einen wichtigen Meilenstein in seiner Kombat-Mine in Namibia erreicht und durchschnittlich 980 Tonnen Erz pro Tag aus unterirdischen Betrieben über einen Zeitraum von 30 Tagen abgebaut. Dies übertrifft die von Sprott Private Resource Streaming und Royalty festgelegte Anforderung von 900 Tonnen pro Tag, 13 Monate vor dem Zeitplan.
Das Unternehmen wird die oberirdischen Operationen am Ende September 2024 pausieren und sich auf hochgradiges unterirdisches Erz konzentrieren. Diese Entscheidung basiert auf der erfolgreichen Wiederinbetriebnahme der Untergrundmine, dem signifikanten Gradunterschied und der aktuellen Verarbeitungskapazitätsbeschränkung von 1.000 Tonnen pro Tag.
Der CEO von Trigon, Jed Richardson, erklärte, dass dieser Erfolg das Risiko des Streaming-Vertrags mit Sprott mindert und die Fähigkeit des Unternehmens demonstriert, die Ziele der Machbarkeitsstudie zu erreichen und zu übertreffen.
- Achieved average production of 980 tonnes per day from underground operations, exceeding the 900 tonnes target
- Met Sprott's production requirement 13 months ahead of schedule
- Successful recommissioning of the underground mine with commercial production declared on May 23, 2024
- Strategic shift to focus on higher-grade underground ore expected to improve operating costs and profitability
- Pausing open pit operations at the end of September 2024
- Current milling capacity constraint limits plant throughput to 1,000 tonnes per day
- Open pit stripping requirements have exceeded forecasts, leading to operational challenges
Trigon has achieved a key milestone as required pursuant to the terms of the streaming agreement with Sprott Private Resource Streaming and Royalty (B) Corp. and Sprott Mining Inc. by exceeding average production of 900 tonnes per day from its underground operations over 30 consecutive days (see press release dated October 24, 2022). This threshold was required to be met by October 31, 2025 and has been met by Trigon 13 months earlier than contractually required.
Following the success from its underground operations, Trigon has made the decision to pause its open pit mining activities with effect from the end of September 2024, based on the following supporting factors:
- The successful recommissioning of the underground mine with commercial production declared on May 23, 2024,
- Ability to mine 900 tonnes per day average over a 30 day period,
- The significant grade differential and positive contribution of the underground mining operations when compared to the open pit operations, and
- The current milling capacity constraint at the Kombat mine limits plant throughput to 1,000 tonnes per day, which in turn leads to the preferential feeding of higher-grade underground ore. The Company is able to fill any production shortfall through feeding of existing lower-grade stockpiles until such time as underground production reaches full steady state.
The mining contractor for the open-pit operations has been notified of the intended pause of open pit mining activities and will demobilise from the operations by the end of September 2024.
Jed Richardson, CEO and Executive Chairman of Trigon, commented, “This achievement not only reflects our ability to meet and surpass the feasibility study ramp-up targets but also de-risks the Sprott streaming agreement, ensuring that Trigon is not required to convert the principal advanced pursuant to the stream agreement into a loan. Exceeding the 900 tonnes per day average from the underground is a significant milestone for the Company and a testament to the team's dedication to delivering on our commitments. We are grateful to Tulela Mining and Construction, our open pit mining contractor, for their exceptional support and partnership over the last four years.”
Rennie Morkel, President and COO of Trigon, commented, “We’ve faced significant challenges with the open pit, where stripping requirements have exceeded our forecasts. Pausing open pit operations will have an immediate positive impact on our operating costs, allowing us to focus on the higher-grade underground ore. This strategic shift enhances our ability to increase production while maintaining cost efficiency, ensuring a more sustainable and profitable operation moving forward.”
Qualified Person
The technical information presented in this press release has been reviewed and approved for disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as defined by NI 43-101.
Change of Transfer Agent
Trigon also announces the appointment of Odyssey Trust Company (“Odyssey”) as the Company’s registrar and transfer agent. Odyssey will now be responsible for all transfers of Trigon’s shares through their office in
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
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Sprott Financing agreement, operating costs, the Company’s strategies and the Company’s abilities to execute such strategies, the Company’s expectations for the Kombat mine, the operations at the Kombat mine, the economic viability of the Kombat mine, the Company’s expected production, the Company’s ability to comply with the terms of the stream agreement, the impact of pausing open-pit operations 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240919697290/en/
For further information, contact:
+1 (647) 276-6002 x 1127
tom.panoulias@trigonmetals.com
Website: www.trigonmetals.com
Source: Trigon Metals Inc.
FAQ
What production milestone did Trigon Metals (PNTZF) achieve at its Kombat mine?
Why is Trigon Metals (PNTZF) pausing open pit operations at the Kombat mine?
When will Trigon Metals (PNTZF) pause its open pit operations at the Kombat mine?
How does the production milestone affect Trigon Metals' (PNTZF) agreement with Sprott?
