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• Trigon announced high-grade drill results from the new zone near Shaft#3 of the Kombat Mine.
• The results confirm strong copper results previously discovered in a 2023 surface drill program that lie outside the proven and probable reserves.
• Today’s release is important as it shows strong resource growth potential in the area around Shaft #3 which would open up more mining faces, reducing operational risk and allowing for future production growth.
Yesterday before the market open, Trigon Metals Inc. (TM:TSXV) announced results from the drill program at the new zone identified in the vicinity of Shaft #3 of the Kombat Mine. These results are in areas outside the proven and probable mine reserves and will be important in bringing online new working faces for mining. Trigon is continuing its underground drilling operations with ~3,500m planned to be completed by year-end. We are maintaining our BUY rating and target price of C$3.50/share on TM.
Yesterday’s results are from the program designed to follow up on the mineralized zones found during surface drilling in 2023 and some historic drill work dating back to when Goldfields operated the mine. Now that the Company is drilling from the underground, there are large cost savings as well as zones that are more easily accessible to drill. Highlights from yesterday’s release include:
• E600-017: 3.32% Cu over 7m
• E600-018: 2.08% Cu over 4m
• E600-044: 2.65% Cu over 3m
• E600-045: 2.48% Cu over 3m
• E600-047: 2.14% Cu over 5m
• E600-055: 2.61% Cu over 2m
• E600-056: 2.06% Cu over 2m
• E600-065: 2.21% Cu over 4m
Shaft #3, located east of Shaft #1 (where all current underground mining activities are taking place), has its own decline, underground mining workings, and infrastructure. Because of this, it is set to be a key mining area as the Company ramps throughput from 1,000tpd to 2,000tpd next year (see Figure 1 below).
These results, as explained by VP Exploration Andy Rompel, show potential for the deposit to expand in width further into the dolomites (not just along the dolomite phyllite contact), which could materially grow the resource. Andy expressed that this area will be a focus area for resource drilling once the Company completes this exploration program.
TM: Positive Drill Results at New Zone Near Shaft #3
What you need to know:• Trigon announced high-grade drill results from the new zone near Shaft#3 of the Kombat Mine.
• The results confirm strong copper results previously discovered in a 2023 surface drill program that lie outside the proven and probable reserves.
• Today’s release is important as it shows strong resource growth potential in the area around Shaft #3 which would open up more mining faces, reducing operational risk and allowing for future production growth.
Yesterday before the market open, Trigon Metals Inc. (TM:TSXV) announced results from the drill program at the new zone identified in the vicinity of Shaft #3 of the Kombat Mine. These results are in areas outside the proven and probable mine reserves and will be important in bringing online new working faces for mining. Trigon is continuing its underground drilling operations with ~3,500m planned to be completed by year-end. We are maintaining our BUY rating and target price of C$3.50/share on TM.
Yesterday’s results are from the program designed to follow up on the mineralized zones found during surface drilling in 2023 and some historic drill work dating back to when Goldfields operated the mine. Now that the Company is drilling from the underground, there are large cost savings as well as zones that are more easily accessible to drill. Highlights from yesterday’s release include:
• E600-017: 3.32% Cu over 7m
• E600-018: 2.08% Cu over 4m
• E600-044: 2.65% Cu over 3m
• E600-045: 2.48% Cu over 3m
• E600-047: 2.14% Cu over 5m
• E600-055: 2.61% Cu over 2m
• E600-056: 2.06% Cu over 2m
• E600-065: 2.21% Cu over 4m
Shaft #3, located east of Shaft #1 (where all current underground mining activities are taking place), has its own decline, underground mining workings, and infrastructure. Because of this, it is set to be a key mining area as the Company ramps throughput from 1,000tpd to 2,000tpd next year (see Figure 1 below).
These results, as explained by VP Exploration Andy Rompel, show potential for the deposit to expand in width further into the dolomites (not just along the dolomite phyllite contact), which could materially grow the resource. Andy expressed that this area will be a focus area for resource drilling once the Company completes this exploration program.
Underlying
TRIGON METALS INC.
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Ben Pirie
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