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Trigon Metals, a publicly-traded Canadian exploration and development company, has completed a 100 percent acquisition of the Silver Hill Project, a 16km2 property in the Anti-Atlas region of Morocco for base metals occurrences.
The acquisition was preceded by an agreement concluded on May 26, 2020. The purchase, according to Stock House, was made via the Toronto-based company's acquisition of Technomine Africa SARL.
The Canadian company paid vendors C$500,000 and issued 6 million common shares. «A further $400,000 in cash and $250,000 in common shares will be issued on the one-year anniversary of the acquisition», the same source added.
Trigon will also have to issue $1.25 million «in common shares upon the completion of a mineral resource estimate outlining at least 100,000 tons of contained copper», it reported.
«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», Jed Richardson, President and CEO of Trigon Metals, said.
«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», he added.
According to the same source, surface exploration showed that the 16-square-kilometre property included both copper and silver mineralization that extend at high grades across a significant area.
