Safi Silver Corp. (PNTZF) reports developments for a Canadian exploration and development company focused on copper and silver holdings in African jurisdictions. Recent updates center on the company’s transition from Trigon Metals to Safi Silver, including the short-form amalgamation with its Safi Silver subsidiary, the TSX Venture ticker change to SF, and an unchanged OTC Pink symbol.
Company news also covers the Moroccan exploration portfolio, including the Addana silver-bearing polymetallic vein project and the Silver Hill sedimentary copper prospect, along with the Kalahari Copperbelt Project in Namibia. Other recurring disclosures include shareholder meeting results, equity incentive plans, ownership changes, and funding tied to the completed divestiture of Kombat Mine interests.
Trigon Metals Inc. has appointed Tulela Mining & Construction CC as the open pit mining contractor for the Kombat Mine in Namibia, with equipment mobilization starting in August 2021 and mining operations expected to begin in October 2021. Tulela brings extensive experience in sub-Saharan open pit mining and plans to employ local staff, reinforcing Trigon's commitment to local employment. The Kombat Copper Project, covering over 7,500 ha, is Trigon's flagship, having produced 12.46 million tonnes of copper historically.
Trigon Metals Inc. (TSXV:TM) is progressing with the Kombat Mine project, expecting to restart operations by the end of 2021. Initial copper production is projected at 6,000t for 2022, increasing to 16,500t by 2024, utilizing upgraded milling technology. The upfront capital cost is estimated at USD6.4 million, with 40% already spent. The company aims for positive cash flow in 2022 and has partnered with Xinhai for equipment procurement, focusing on debt financing without reliance on Chinese export credits.
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Trigon Metals announced promising trench assay results from its Silver Hill Project in Morocco, revealing 13 metres of 2.7% copper and 34.5 g/t silver. This trench, located 1.5 km from the S1 discovery hole, indicates significant mineralization potential. Historical mining at the site suggests that high-grade silver may remain untouched at depth. Trigon plans to investigate further to ascertain the continuity of the mineral structure. The project aligns with Trigon's strategy to expand its copper and silver assets in African regions, particularly Morocco and Namibia.