Trigon’s Kalahari Copper Project Wins EU Funding via UNDERCOVER Project
Trigon Metals (TSX-V: TM, OTCQB:PNTZF) has secured a position in the €5 million EU-funded UNDERCOVER research project for its Kalahari Copper Project. The three-year program, starting January 1, 2025, aims to enhance deep mineral exploration technologies for critical raw materials.
The Kalahari Copper Project, a joint venture with Ongwe Minerals, spans 765,000 hectares in Namibia's Kalahari Copper Belt. Notable drilling results adjacent to the project's eastern border showed 83m at 0.7% Cu and 17g/t Ag.
Additionally, Trigon is advancing the sale of its Kombat Mine to Horizon , with initial capital already provided under their loan agreement. The company is also working with insurance adjustors regarding a business interruption and mechanical claim from January 16, 2025.
Trigon Metals (TSX-V: TM, OTCQB:PNTZF) ha ottenuto una posizione nel progetto di ricerca UNDERCOVER finanziato dall'UE da 5 milioni di euro per il suo Kalahari Copper Project. Il programma triennale, che inizierà il 1 gennaio 2025, mira a migliorare le tecnologie di esplorazione mineraria profonda per le materie prime critiche.
Il Kalahari Copper Project, una joint venture con Ongwe Minerals, si estende su 765.000 ettari nella Kalahari Copper Belt della Namibia. Risultati di perforazione significativi adiacenti al confine orientale del progetto hanno mostrato 83m a 0,7% Cu e 17g/t Ag.
Inoltre, Trigon sta avanzando nella vendita della sua Kombat Mine a Horizon, con capitale iniziale già fornito secondo il loro accordo di prestito. L'azienda sta anche collaborando con periti assicurativi riguardo a una richiesta di indennizzo per interruzione di attività e danni meccanici dal 16 gennaio 2025.
Trigon Metals (TSX-V: TM, OTCQB:PNTZF) ha asegurado una posición en el proyecto de investigación UNDERCOVER financiado por la UE de 5 millones de euros para su Kalahari Copper Project. El programa de tres años, que comenzará el 1 de enero de 2025, tiene como objetivo mejorar las tecnologías de exploración mineral profunda para materiales críticos.
El Kalahari Copper Project, una empresa conjunta con Ongwe Minerals, abarca 765,000 hectáreas en el cinturón de cobre de Kalahari en Namibia. Resultados de perforación notables adyacentes a la frontera oriental del proyecto mostraron 83m al 0.7% Cu y 17g/t Ag.
Además, Trigon está avanzando en la venta de su Kombat Mine a Horizon, con capital inicial ya proporcionado bajo su acuerdo de préstamo. La compañía también está trabajando con ajustadores de seguros sobre una reclamación por interrupción de negocios y daños mecánicos desde el 16 de enero de 2025.
Trigon Metals (TSX-V: TM, OTCQB:PNTZF)는 자사의 Kalahari Copper Project를 위해 500만 유로의 EU 자금으로 지원되는 UNDERCOVER 연구 프로젝트에 참여할 자리를 확보했습니다. 이 3년 프로그램은 2025년 1월 1일 시작되며, 주요 원자재를 위한 깊은 광물 탐사 기술을 향상시키는 것을 목표로 하고 있습니다.
Kalahari Copper Project는 Ongwe Minerals와의 합작 투자로, 나미비아의 Kalahari Copper Belt에 걸쳐 765,000 헥타르에 달합니다. 프로젝트의 동쪽 경계 근처에서의 주요 시추 결과는 0.7% Cu와 17g/t Ag에서 83m로 나타났습니다.
또한, Trigon은 Horizon에게 Kombat Mine의 판매를 진행하고 있으며, 대출 계약에 따라 초기 자본이 이미 제공되었습니다. 이 회사는 2025년 1월 16일의 사업 중단 및 기계 고장에 관한 보험 조정인과 협력하고 있습니다.
Trigon Metals (TSX-V: TM, OTCQB:PNTZF) a sécurisé une position dans le projet de recherche UNDERCOVER financé par l'UE à hauteur de 5 millions d'euros pour son Kalahari Copper Project. Le programme de trois ans, qui débutera le 1er janvier 2025, vise à améliorer les technologies d'exploration minérale profonde pour des matières premières critiques.
Le Kalahari Copper Project, une coopérative avec Ongwe Minerals, s'étend sur 765 000 hectares dans le Kalahari Copper Belt en Namibie. Des résultats de forage notables adjacents à la frontière orientale du projet ont montré 83m à 0,7% Cu et 17g/t Ag.
De plus, Trigon avance dans la vente de sa Kombat Mine à Horizon, avec un capital initial déjà fourni dans le cadre de leur accord de prêt. L'entreprise travaille également avec des experts en assurance concernant une réclamation pour interruption d'activité et dommages mécaniques depuis le 16 janvier 2025.
Trigon Metals (TSX-V: TM, OTCQB:PNTZF) hat eine Position im mit 5 Millionen Euro von der EU finanzierten UNDERCOVER-Forschungsprojekt für sein Kalahari Copper Project gesichert. Das dreijährige Programm, das am 1. Januar 2025 beginnt, soll die Technologien zur tiefen Mineralaus exploration für kritische Rohstoffe verbessern.
Das Kalahari Copper Project, ein Gemeinschaftsunternehmen mit Ongwe Minerals, erstreckt sich über 765.000 Hektar im Kalahari Copper Belt in Namibia. Bemerkenswerte Bohrergebnisse in der Nähe der östlichen Grenze des Projekts zeigten 83m bei 0,7% Cu und 17g/t Ag.
Zusätzlich treibt Trigon den Verkauf seiner Kombat Mine an Horizon voran, wobei das ursprüngliche Kapital bereits im Rahmen ihres Darlehensvertrags bereitgestellt wurde. Das Unternehmen arbeitet auch mit Versicherungsgutachtern bezüglich eines Anspruchs auf Betriebsunterbrechung und mechanische Schäden ab dem 16. Januar 2025 zusammen.
- Secured participation in €5 million EU-funded research project
- Large land position (765,000 hectares) in prospective copper belt
- Promising adjacent drilling results (83m at 0.7% Cu and 17g/t Ag)
- Initial capital received from Horizon for Kombat Mine sale
- Recent mine interruption requiring insurance claim
- Sale of Kombat Mine pending completion
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
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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
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
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
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
“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
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
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.
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For further information, contact Tom Panoulias, VP Corporate Development:
+1 (647) 276-6002 x 1127
IR@trigonmetals.com
Website: www.trigonmetals.com
Source: Trigon Metals Inc.
FAQ
What is the value and duration of the EU UNDERCOVER project that PNTZF is participating in?
How large is Trigon's Kalahari Copper Project and where is it located?
What are the drilling results near PNTZF's Kalahari Copper Project?
When did the mechanical interruption at PNTZF's Kombat Mine occur?
What is the status of PNTZF's Kombat Mine sale to Horizon ?
