CANADIAN mining firm Trigon Metals has acquired unique prospecting licence (EPL) 8529 within the space surrounding its Kombat and Gross Otavi tasks at Otavi.
Chief government officer Jed Richardson in an announcement says the acquisition consideration for the licence includes a money worth of N$1,75 million and N$250 000 to be settled by the issuance of 84 129 Trigon shares.
“EPL8529 known as the Copper King Extension, is a crucial a part of the long-term way forward for the Kombat mine because the 35km of potential strike size has quite a few copper showings that Trigon is raring to check for potential financial deposits of mineralisation.
“When floor drilling for near-term open-pit sources ends later this calendar 12 months, drills will transfer to the brand new targets on the Copper King,” Richardson says.
EPL 8529, is located on the Kombat pattern, a area related to high-grade copper and silver mineralisation, which covers an space of 5 614 hectares within the Grootfontein district of the Otjozondjupa area, between Otavi and Grootfontein.
The licence is at present held by Namibian firm Otjiwa Mining and Prospecting CC, and is legitimate for a interval of three years from 9 November 2022 to eight November 2025.
Richardson says Trigon and its Namibian subsidiary, Trigon Mining (Namibia) (Pty) Ltd, entered an settlement with Otjiwa for the acquisition of EPL 8529 on 30 January 2023.
From a geological perspective, the licence represents a possible strike extension of the Kombat venture, with numerous recognized mineral occurrences on the property.
“Trigon administration has in depth data of the world and plans to implement an exploration programme together with its ongoing exploration work on the Kombat venture areas,” Richardson says.
The sale settlement is topic to customary closing circumstances, together with approval from Namibia’s minister of mines and vitality, Tom Alweendo, for the switch of the licence from Otjiwa to Trigon Mining, and the approval of the Toronto Inventory
Trade Enterprise Trade.
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Supply: namibian
