Trigon reports new high-grade copper, silver mineralization at Kombat mine
Trigon Metals has reported new high-grade copper and silver mineralization at its Kombat copper-silver mine in north-central Namibia. CEO Jed Richardson made the announcement and said the results have boosted the company’s shares.
The standout drill results from the resource upgrade program include: KWO-217: 5 metres grading 11.21% copper and 117.89 g/t silver, KWO-218: 8 metres at 2.55% copper and 18.65 g/t silver, and KWO-221: 9 metres grading 3.93% copper and 56.13 g/t silver.
Increase in shares
These results come from holes drilled at around 105 metres depth and close to past production areas. CEO Jed Richardson expressed excitement, stating that Kombat continues to reveal valuable high-grade ore adjacent to old developments.
Trigon restarted production at the Kombat mine in 2022, with an expected output of 12.1–13.4 million lbs. of copper next year, grading between 1.95% and 2.3%. The Kombat mine has a 15-year projected mine life. Historically, between 1962 and 2008, Kombat produced 12.5 million tonnes of ore grading 2.62% copper, 1.55% lead, and 18 grams per tonne silver. The current probable reserves stand at 2.4 million tonnes grading 2.4% copper and 17.4 g/t silver.
Trigon’s share price increased by 3.4% to C$0.90, giving the company a market valuation of C$40.2 million. The Kombat mine is situated about 360 km north of Windhoek, near Dundee Precious Metals’ Tsumeb smelter.
