Trigon’s Kalahari Copper project wins EU funding through Investing.com’s UNDERCOVER project

TORONTO–(BUSINESS WIRE)–Trigon Metals Inc. (TSX-V:™, OTCQB:PNTZF) (Trigon or the Company) announces that its Kalahari Copper Project (the Project) has been awarded one of only three places in the €5 million UNDERCOVER exploration project funded by the European Union (EU).

UNDERCOVER (INnified Novel Deep ExploRtion for Ccritical ONre discoVERy) the research project aims to improve the responsible supply of raw materials. The objectives of the Project include the improvement of deep mineral exploration technologies, stimulation of research and development and enabling their responsible exploitation by exploration and mining stakeholders within the EU.

Key highlights of the program

• The research project UNDERCOVER was granted EUR 5 million by the EU, and Trigon’s Kalahari Copper project was selected as one of the three research projects included in the initiative.
• This research program will last for three years starting on January 1, 2025, focusing on the development of innovative methods for the successful exploration of critical raw materials under protection.

The Kalahari Copper Project, a joint venture 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 belt in Botswana. One drill hole along the eastern boundary of Trigon’s Kalahari Copper project intersected 83 m at 0.7% Cu and 17g/t Ag. The widespread Kalahari sand cover over much of the Project area requires a strategic approach to research, and research advances made through the UNDERCOVER project will support these efforts.

Jed Richardson, CEO and Executive Chairman of Trigon Metals, commented: “It is an honor to be selected to participate in such an innovative and potentially transformative project. We look forward to working with all parties to achieve UNDERCOVER’s ambitious goals.”

Proposed strategic sale of Kombat mine

Trigon’s management team continues to move forward with the sale of the Kombat mine to Horizon Corporation Ltd. (Horizon). Trigon and Horizon began cooperation on mine planning and management, working to complete the final documentation.

The initial capital was advanced in accordance with the terms of the loan agreement between Trigon and Horizon. Terms of the Proposed Transaction (JO:) are available for review in the Company’s previous press release dated December 16, 2024.

Due to the recent mine outage, Trigon’s management team is communicating with its insurance adjusters in Namibia regarding its business interruption and mechanical claim that occurred on January 16, 2025.

Further details of a research project that aims to develop deeper research into critical raw materials

The EU’s ambitious targets as set out in the Critical Raw Materials Act (CRMA), the NetZero Industry Act and the European Green Plan will lead to an increase in demand for critical raw materials (CRM). To meet the demand, research and development is needed to exploit deposits deeper in the bedrock. The Geological Survey of Finland (GTK) coordinates the EU Horizon Europe project which creates a paradigm shift in the exploration of deep critical resources.

The goal of the project is to develop a deep research of CRM. This will be achieved by transforming the concept of mineral systems into the first viable strategy for the systematic exploration of CRM deposits hidden deeper below the cover or in the bedrock. The project will develop and integrate new geophysical technologies and methods that are cost-effective and environmentally friendly.

A strong network of international and European cooperation

The research project will last three years, and was launched on January 1, 2025. The project, worth 5 million euros, brings together 16 partners from Finland, France, Germany, the Czech Republic, Portugal, Namibia and Canada. The consortium includes geological surveys, universities, research institutes, research companies, industrial clusters and small and medium-sized enterprises (SMEs), highlighting a strong network of international and European cooperation.

This cooperation encourages the exchange of knowledge and expertise across borders, with the goal of a comprehensive approach to in-depth mineral exploration. By leveraging the strengths of each partner, the project aims to make significant progress in the exploration of sustainable raw materials, says Jochen Kamm, Research Professor, Geological Survey of Finland.

In addition, the project will cooperate with other EU projects dealing with deep research challenges.

Qualified person

The scientific and technical information in this edition has been reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, qualified person of the Company as defined in National Instrument 43-101 ” Disclosure standards for mineral projects.

Trigon Metals Inc.

Trigon is a publicly traded Canadian exploration and development company whose core business is focused on copper and silver properties in African mineable jurisdictions. Currently, the company operates in Namibia and Morocco. In Namibia, the Company holds an 80% interest in five mining licenses in the Ottawa Mountainlands, an area of ​​Namibia widely known for its high-grade copper deposits, where the Company is focused on exploration and redevelopment of the previously producing Kombat mine.

Cautionary notes

This press release may contain forward-looking statements. These statements include statements regarding the UNDERCOVER Project, the prospect and mineralization of the Kalahari Copper Project, the Company’s strategies and the Company’s ability to execute such strategies, the Company’s expectations regarding the Kombat Mine, the loan and sale to Horizon and their timing and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results may differ materially due to factors discussed in the management’s discussion and analysis section of our interim and most recent annual financial reports or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We undertake no obligation to update any forward-looking statements, except as required by applicable laws.

Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the TSX Venture Exchange Rules) accepts responsibility for the adequacy or accuracy of this release.

See the original version on businesswire.com: https://www.businesswire.com/news/home/20250120880534/en/

For further information, please contact Tom Panoulias, Vice President of Corporate Development:
+1 (647) 276-6002 x 1127
IR@trigonmetals.com
Website: www.trigonmetals.com

Source: Trigon Metals Inc.