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Trigon Metals Inc.
Summary
| Project: | Kombat Mine | |
|---|---|---|
| Deposit: | Kombat Mine | |
| Location: | Namibia | |
| Commodities: | Copper-Lead-Silver | |
| Date: | 6/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 5-6-2018: Trigon Metals Inc. announces a Feasibility Study report for its Kombat Mine deposit at the Kombat Mine project. Feasibility Study result incl. Initial ore reserve, post tax NPV of US $4.6M (7.6%), IRR of 103.4%. Toronto, Canada – June 5, 2018 – | |
| Resources: | (Reserve, Prob.): 0.77Mt @ 1.30% Cu, 0.47% Pb, 4.33g/t Ag | |
| CP/QP: | [Resources]: Uwe Engelmann (Minxcon Pty Ltd.) | |
| ABSTRACT: | Toronto, Canada – June 5, 2018 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce the results of its feasibility study (“Feasibility Study”) prepared by Minxcon (Pty) Ltd (“Minxcon”) on the surface mining areas of the Company’s Kombat operations located in northern Namibia (“Kombat”). The proposed surface mining operations in the Kombat East and Kombat Central areas (the “Kombat open pits”) represent the first phase of the Company’s life of mine (“LoM”) strategy as presented in the recently published technical report entitled “NI 43-101 Technical Report on the Kombat Copper Project, Namibia”, dated March 22, 2018, including a Preliminary Economic Assessment (“PEA”). Future phases of the strategy comprise the recommencement of the various historic underground mines at Kombat, starting with the Asis Far West underground mine (“AFW”), as well as surface mining at Gross Otavi, and ultimately back into Asis West to mine the gap area and explore the resource at depth. The positive after tax net present value (“NPV”) of US$4.6 million (at a base case copper price of US$3.10/lb) (US$6.5 million at a high case copper price of US$3.28/lb) and healthy internal rate of return (“IRR”) of 103.4% for the Kombat open pits as presented in the Feasibility Study confirm the robust nature of the Kombat operations. Stephan Theron, President and CEO of Trigon, commented: “The completion of the feasibility study is a major milestone for the Company and its stakeholders. We are extremely pleased with the positive results and look forward to taking the next steps towards production and further development. We have submitted the Feasibility Study results to our offtake and project finance partner and expect sign off and the availability of the funding facility in the near term.” | |
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