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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 announced that Tulela Mining & Construction CC has commenced mining establishment at the Kombat Mine in Namibia. Tulela has set up an operational base including refurbished offices and workshops, with mining equipment already delivered. Initial work involves topsoil clearing and employee training, with open pit mining expected to start by October 2021. The Kombat Copper Project, Trigon's flagship, holds significant copper production history and prospective areas for lead and zinc. The company maintains a focus on copper and silver exploration.
Trigon Metals has filed an updated NI 43-101 technical report for the Kombat copper project in Namibia, showing a significant increase in mineral resources. The report indicates an Indicated Mineral Resource of 12.22 million tonnes and an Inferred Mineral Resource of 1.91 million tonnes, reflecting a 66% increase from previous estimates. The comprehensive resource estimate, which incorporates advanced geological analysis, is projected to support operations for over 20 years. The technical report is available on both SEDAR and Trigon's website.
Trigon Metals Inc. plans a non-brokered private placement of up to 12,500,000 units at $0.40 per unit, aiming for gross proceeds of $5,000,000. Each unit includes one common share and one-half warrant, with warrants exercisable at $0.50 for two years. The offering’s close is anticipated around September 10, 2021, pending regulatory approvals. Proceeds will fund the recommencement of mining at the Kombat mine and support working capital. Trigon holds significant mining interests in Namibia and Morocco, focusing on copper and silver exploration.
Trigon Metals Inc. has announced the completion of manufacturing long lead equipment items for the Kombat processing plant, contracted to Yantai Xinhai Industry & Trade Co., Ltd. Equipment will be shipped from China to Namibia soon, with other local orders also nearing completion. The project is on schedule for plant commissioning by year-end, with significant progress reported on refurbishment. The Kombat Mine, noted for its copper production, is a key asset for Trigon, which also operates in Morocco.
Trigon Metals Inc. has signed a Power Supply Agreement with CENORED, ensuring a stable power supply for the Kombat Mine in Namibia. This agreement follows earlier commitments for power infrastructure installation, with preliminary work already in progress. CEO Jed Richardson emphasized the partnership's significance for the Kombat mine's restart efforts and the benefits for the Kombat Village. The Kombat project has a historical production of approximately 12.46 million tonnes of copper, highlighting its importance in Trigon's operations.
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.