Trigon Metals Hits High-Grade Copper-Silver at Namibia’s Kombat Mine

Trigon Metals (TSXV: TM) has reported significant new high-grade copper and silver mineralization from its ongoing drilling at the Kombat copper-silver mine in north-central Namibia.

The drilling program, targeting resource upgrades near past producing areas, has yielded promising results, boosting the company’s stock.

Notable drill results include:

• KWO-217: 5 metres grading 11.21% copper and 117.89 g/t silver
• KWO-218: 8 metres grading 2.55% copper and 18.65 g/t silver
• KWO-221: 9 metres grading 3.93% copper and 56.13 g/t silver

These drill holes are part of a 3,500-metre resource upgrade program, conducted at a depth of 105 metres on level 3 of Shaft 1. The drilling targeted areas to the northeast and southwest of previous intercepts, confirming the presence of high-grade mineralization adjacent to old mining developments.

Trigon’s CEO and executive chairman, Jed Richardson, expressed optimism about the recent results, stating, “Even with 45 years of mining history at Kombat, the deposit continues to surprise us with new high-grade ore — even adjacent to old developments. There is tremendous value in this mine yet to be realized in our market capitalization.”

Trigon restarted operations at the Kombat mine in 2022. The mine, with an expected 15-year lifespan, is forecast to produce between 12.1 million and 13.4 million pounds of copper next year, with grades ranging from 1.95% to 2.3%.

The company’s shares rose by 3.4% to C$0.90 on Tuesday morning, valuing the company at C$40.2 million. Over the past 52 weeks, the stock has traded between C$0.61 and C$1.28.

Kombat’s Legacy and Growing Potential

Kombat, historically one of Namibia’s leading copper mines, produced 12.5 million tonnes of ore grading 2.62% copper, 1.55% lead, and 18 g/t silver between 1962 and 2008. Recent drill highlights from level 5 include:

• KWO-194: 2 metres grading 4.36% copper and 22.27 g/t silver
• KWO-198: 4 metres grading 2.83% copper and 49.75 g/t silver

These results were obtained at a depth of 120 metres, with intercepts piercing the nearest historical intercepts from 80 to 84 metres.

As of February, Kombat’s resources include 2.4 million probable tonnes grading 2.4% copper and 17.4 g/t silver, amounting to 58,704 tonnes of copper and 41,726 kg of silver from open-pit, underground, and stockpiled resources.

Located 360 km north of Namibia’s capital, Windhoek, and near Dundee Precious Metals’ Tsumeb polymetallic smelter, Kombat continues to be a red metal hotspot, with copper prices on an upswing, reaching $4.38 per pound in recent months.