Canada-based Trigon Metals has acquired 100pc equity in Silver Hill Copper-Silver Exploration Project in Morocco from Technomine Africa, according to the company press release.
Trigon has paid CAD500,000 ($374,538.78) in cash and issued 6,000,000 common shares to the vendors.
The project spans across 162sq km in the Anti-Atlas region of Morocco.
Preliminary surface exploration shows that the region has plenty of visible copper minerals at the surface, indicating a good exploration potential. Slags grading 2.5pc Cu are distributed widely across one-third of the concession surface, indicating a history of mining and primitive metal recovery.
Morocco has large deposits of minerals with an annual production rate of approximately 40mn mt. It produces 90pc of the world’s supply of phosphates and extracts copper, cobalt, gold, silver, and zinc.
($1 = CAD1.33498)