Trigon Metals Inc.
TSX VENTURE : TM
November 30, 2017 07:00 ET
TORONTO, ONTARIO--(Marketwired - Nov. 30, 2017) - Trigon Metals Inc. (TSX VENTURE:TM) ("Trigon" or the "Company") is pleased to announce positive results in respect of the metallurgical testwork commissioned on historic drill cores from the targeted open pit mining areas at the Company's Kombat mine in Namibia.
Trigon has completed the metallurgical testwork in two phases; firstly to determine the concentrate grade and recoveries achievable using known historic flotation conditions, and secondly, optimization testing to maximize recoveries with minimum quantities of reagents.
Testwork results achieved have demonstrated copper recoveries of 93.6% at a concentrate grade of 25.5%, which are improved results on the achievable recoveries and concentrate grades used for the purposes of the Company's preliminary economic assessment ("PEA"). In addition, the testwork concludes that the combined copper sulphide/oxide flotation of the targeted open pit ore is possible.
The PEA is summarized within the Company's National Instrument 43-101 compliant technical report entitled "NI 43-101 Technical Report on the Kombat Copper Project, Namibia" dated May 31, 2017 which is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.trigonmetals.com. The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary economic assessment will be realized.
Variability testing on the optimized flotation conditions is expected to be completed by February 2018 and the results will be used in the feasibility study to be undertaken on the surface mining areas, as announced on October 26, 2017. The feasibility study will also include a pre-feasibility design on the Asis Far West underground mine, in order to progress the Company's strategy to re-commence underground mining, while achieving its first phase target of open pit production for early cash flow generation.
Stephan Theron, President and CEO of Trigon, commented: "We are extremely pleased with the results of the metallurgical testing to date, and to be able to communicate continued positive progress with the Kombat mine development. We remain on track for commencement of open pit production in 2018."
The Company does not have a current feasibility study and is not basing its decision to restart mining activities on any estimated mineral reserves or on a feasibility study regarding the economic or technical feasibility of the Kombat project. Historically, projects that are re-commenced prior to completing a feasibility study have a higher risk of economic or technical failure. Estimates regarding production levels, development timetable and economic feasibility in respect of the Kombat mine are based on internal management forecasts and are inherently uncertain and subject to continued refinement.
The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Fanie Muller, P.Eng, VP Operations of Trigon, who is a Qualified Person 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 operations in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with significant upside. The Company continues to hold an 80% interest in five mining licences in the Otavi Mountain lands, an area of Namibia widely recognized for its high-grade copper deposits. Within these licences are three past producing mines including the Company's flagship property, the Kombat Mine.
This news release may contain forward-looking statements. These statements include statements regarding the results of metallurgical testwork, the realization of the PEA for the Kombat mine, the ability to complete a feasibility study, the mineralization of the Kombat mine, the Company's strategies and the Company's abilities to execute such strategies, the Company's ability to adequately finance its activities, the Company's ability to restart the Kombat operations, the expectations of future cash flow, the granting of applicable permitting, the Company's expectations for the Kombat 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.