Trigon Completes Acquisition of ‘Silver Hill’ Copper-Silver Exploration Project in Morocco and Files NI 43-101 Technical Report
TORONTO, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has completed the acquisition (the “Transaction”) of a 100%
equity interest in Technomine Africa S.A.R.L. (“Technomine”), which owns a 100% interest in the Silver Hill Project (“Silver Hill” or the “Project”) in Morocco.
Trigon has received approval of the transaction from the TSX Venture Exchange and has completed the Exchange's final filing requirements for closing the transaction including, but not limited to; receiving a satisfactory title opinion on the licences comprising the high potential Silver Hill and Tama Doult properties located in the Anti-Atlas region of Morocco, and filing the geological report (the “Report”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for exploration of Silver Hill.
The Silver Hill Transaction is part of the Company's continued focus to strategically acquire and develop copper and silver properties in favourable African mining jurisdictions.
Jed Richardson, President and CEO of Trigon Metals, commented, “In a world recovering from COVID, the acquisition of the Silver Hill property has added importance. The value of silver as a precious metal and store of value cannot be over emphasized in the face of government stimulus around the world. That said, we are in the midst of a structural shift that should see the world seeking to diversify its supply chains from reliance on China for manufacturing, and copper should see extraordinary demand when the world economy emerges on the other side of this crisis.”
Silver Hill Project Overview
The Transaction is centred around the Silver Hill Project (see press release dated November 19, 2019), a 16km2 property in the Anti-Atlas region of Morocco, already home to Africa’s major silver mines (Imiter, Zgounder). Surface exploration shows copper and silver mineralization at high grades distributed over a wide surface area. Slags from ancient workings indicate historical large scale mining for silver.
Morocco is a favourable jurisdiction for mining, with an established industry producing at a rate of approximately 40 million tonnes of minerals per year. The country is a friendly business environment with a strong mining history, but very little systematic modern exploration.
Highlights of Silver Hill
- Ancient slags distributed widely across one third of the concession indicate a history of primitive metal recovery, most likely for silver.
- Abundance of visible copper minerals at surface, as well as old workings and slags on the property on surface and in-situ indicate excellent potential for a copper prospect
- The Project is easily accessed via paved national highways, with a well-maintained gravel road sufficient to be used for an exploration program.