Trigon Metals Inc. (TSX-V: TM, OTCQB:PNTZF) (“Trigon” or the “Company”) announces that its Kalahari Copper Project (the “Project”) has been awarded one of only three spots in the €5 million UNDERCOVER research project funded by the European Union (EU).
The UNDERCOVER ( U nified N ovel D eep E xplo R ation for C ritical O re disco VER y) research project aims to enhance the responsible supply of raw materials. The Project’s objectives include advancing deep mineral exploration technologies, stimulating research and development, and enabling their responsible exploitation by exploration and mining stakeholders within the EU.
Key Highlights of the Program
- The UNDERCOVER research project has been granted €5 million from the EU, with Trigon’s Kalahari Copper Project selected as one of three exploration projects included in the initiative.
- This research program will span three years starting January 1, 2025, focusing on developing innovative methods for successful exploration of Critical Raw Materials under cover.
The Kalahari Copper Project, a joint venture project between Trigon and Ongwe Minerals, covers 765,000 hectares within the highly prospective Kalahari Copper Belt in Namibia, the western extension of the highly prospective copper belt in Botswana. One drillhole adjacent to the eastern border of Trigon’s Kalahari Copper Project has intersected 83m at 0.7% Cu and 17g/t Ag. The widespread Kalahari sand cover across much of the Project area necessitates a strategic exploration approach, and advancements in exploration research achieved through the UNDERCOVER project will support these efforts.
Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented, “It’s an honour to be selected to participate in such an innovative and potentially transformative project. We look forward to working with all parties to achieve the ambitious goals of UNDERCOVER.”
Proposed Strategic Sale of the Kombat Mine
Trigon’s management team continues to advance the sale of the Kombat Mine to Horizon Corporation Ltd. (“Horizon”). Trigon and Horizon have begun collaborating on mine planning and management, working towards completion of the definitive documentation.
Initial capital has been advanced in accordance with the terms of the loan agreement between Trigon and Horizon. The terms of the Proposed Transaction are available to view in the Company’s previous press release dated December 16, 2024.
Due to the recent mine interruption, Trigon’s management team is communicating with its insurance adjustors in Namibia on its business interruption and mechanical claim that occurred on January 16, 2025.
Further Details of The Research Project that Aims to Develop Deeper Critical Raw Material Exploration
The EU’s ambitious goals as outlined in the Critical Raw Materials Act (CRMA), NetZero Industry Act and the European Green Deal will lead to an increase in critical raw material (CRM) demand. To meet the demand, the utilization of the deposits deeper in the bedrock needs research and development. The Geological Survey of Finland (GTK) is coordinating the EU Horizon Europe project that is creating a paradigm shift in the exploration of deep critical raw materials.
The project aims to develop deep CRM exploration. This will be done by transforming the mineral systems concept into the first viable strategy for systematically exploring CRM deposits hidden deeper under cover or in the bedrock. The project will develop and integrate novel geophysical technologies and methods that are both cost-effective and environmentally friendly.
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