Canadian explorer Trigon Metals has received TSX Venture Exchange to acquire a 100pc interest in Technomine Africa SARL’s Silver Hill Project in Morocco without royalties or carried interest, the company said in a statement. However, Technomine will retain its ownership.
The company said that it is now in receipt of a satisfactory title opinion on the licenses comprising the Silver Hill and Tamadoult properties located in the Anti-Atlas region of Morocco.
Earlier, the company had announced that it had entered a purchase agreement for the same.
The Silver Hill Project is a 16 sq km property in a region well known for base metals occurrences in Morocco. It has an abundance of copper oxide minerals and is easily accessible via the regional road network.
The workings and slags on the property on the surface and in-situ indicate excellent potential for a copper prospect. Exploration on the preliminary surface exhibits copper and silver mineralization at high grades across a wide surface area.
Trigon also holds 80pc interest in five mining licenses in Namibia’s Otavi Mountainlands, widely recognized for its high-grade copper deposits.