Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) is pleased
to announce that recent diamond drilling at the Stratmat
zinc-lead-silver-copper deposit, in the Bathurst Mining Camp of
northern New Brunswick, has confirmed the presence of extensive
massive sulphide mineralization. Results indicate a new, wide zone
of near-surface (potentially open pittable) mineralization
containing significant zinc, lead, copper, silver and gold
concentrations, that also remains open for expansion along strike
and at depth (Table 1 & Figure 1).
To view Figures 1 & 2, visit:
http://media3.marketwire.com/docs/TV206_F1-2.pdf.
The ongoing planned 5,000-metre drill program is intended to
convert a significant portion of the estimated independent National
Instrument 43-101 compliant inferred resource of 5.5 million
tonnes(i) grading 6.11% Zinc, 2.59% Lead, 0.40% Copper, 54.21 g/t
Silver, and 0.62 g/t Gold, to a higher confidence category.
(i) NI 43-101 compliant resource estimate by Wardrop Engineering
Inc., November, 2008
Trevali is encouraged by the pervasiveness of the mineralized
zone and anticipates zinc-lead-copper-silver-gold mineralization to
increase with depth: The deepest intercept (ST-723) contains an
impressive 69.38 g/t silver within which a section returned 2.36%
copper, demonstrating a positive change of geologic environment.
Please refer to Figure 1 for drill hole intercept locations. As
well as providing samples for metallurgical testing, this drill
program has established the continuity of the Main Zone Footwall
lens, which is expected to add new tonnes to the resource base.
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Drill From To Core g/t g/t % % %
Hole (m) (m) Length Au Ag Cu Zn Pb Zone
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ST-711 178.00 192.00 15.00 0.16 7.45 0.59 0.52 0.15 Main
includes: 179.00 184.00 5.00 0.27 11.95 1.22 0.62 0.14
------------------------------------------------------------------
194.59 195.30 0.71 0.04 22.00 0.25 3.93 1.85 Main FW
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ST-712 115.92 129.24 13.32 0.93 72.47 0.43 7.54 2.48 Main
------------------------------------------------------------------
139.30 149.91 10.61 0.92 36.50 0.16 3.82 1.05 Main FW
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ST-713 68.63 84.17 4.69 0.01 5.80 0.03 0.91 0.39 Main
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ST-714 160.42 172.00 12.58 0.09 4.19 0.74 0.11 0.04 Main
includes: 166.00 168.00 2.00 0.15 11.35 2.26 0.13 0.03
------------------------------------------------------------------
188.88 190.35 1.47 0.24 134.78 0.41 4.99 2.13 Main FW
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ST-715 139.00 148.16 9.16 0.24 25.38 0.14 5.30 1.56 Main
----------------------------------------------------------------------------
ST-716 110.25 137.00 26.75 0.45 22.57 0.33 2.31 0.83 Main
includes: 131.00 137.00 6.00 0.65 36.75 0.09 5.36 2.30
------------------------------------------------------------------
169.22 171.64 2.42 1.11 56.50 0.32 7.14 1.62 Main FW
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ST-717 47.18 74.50 27.32 1.07 50.27 0.21 4.02 1.49 Main
includes: 60.50 74.50 14.00 1.23 58.18 0.23 5.02 1.80
------------------------------------------------------------------
ST-717 86.15 88.92 2.77 0.20 7.27 1.72 0.25 0.04 Main FW
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ST-718 45.13 63.50 18.37 1.04 46.35 0.20 4.47 1.48 Main
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ST-719 104.79 105.73 0.94 0.64 27.00 0.33 2.43 0.72 Main
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ST-720 108.40 112.27 3.87 0.02 54.20 0.11 2.39 0.88 Main
------------------------------------------------------------------
126.43 127.16 0.73 0.27 27.00 0.11 2.28 1.26 Main FW
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ST-721 259.64 279.23 19.59 0.03 0.59 0.15 0.03 0.01 Main
----------------------------------------------------------------------------
ST-722 234.63 248.00 13.37 0.09 2.41 0.12 0.18 0.05 Main
----------------------------------------------------------------------------
ST-723 249.33 257.34 8.01 0.14 69.38 0.35 0.34 0.05 Main
includes: 256.55 257.34 0.79 0.87 16.00 2.36 0.22 0.02
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Table 1: Stratmat drill results
The Stratmat diamond drill program is continuing through
February 2012. The aim of this next phase is to gain confidence in
the S1 and Central resource zones, which are situated west of the
Main Zone as well as selected deep targets.
HALFMILE AND STRATMAT DEPOSITS
The Halfmile and Stratmat Deposits are a multi-lens
zinc-lead-silver-copper-gold rich volcanogenic massive sulphide
(VMS) deposits located in the renowned Bathurst Mining Camp of
northern New Brunswick in eastern Canada (Figure 2). They contain
significant National Instrument 43-101 Resources - all of which
remain open for expansion (Table 2):
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Halfmile and Stratmat Deposit Resources
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Tonnes Zn% Pb% Cu% Ag (g/t)
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HALFMILE
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Indicated 6,262,043 8.13 2.58 0.22 30.78(i)
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Inferred 6,078,200 6.69 1.83 0.14 20.51(i)
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STRATMAT
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Inferred 5,524,500 6.11 2.59 0.40 54.21
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Calculated by Tetra Tech Wardrop engineers and geologists using a 5% ZnEQ
cutoff(i)Silver and gold not routinely analyzed for in historic drilling.
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Table 2: NI 43-101 Resource Estimates for Halfmile and Stratmat Deposits
An independent Preliminary Economic Assessment(i) from Tetra
Tech Wardop engineering in September 2010 indicated a pre-tax Net
Present Value (6%) of C$343 million at metal prices of US$1.03/lb
Zinc, US$3.03/lb Copper, US$0.92/lb Lead and US$15.08/oz Silver.
The study did not take into account any potential gold credits.
(i) Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
ABOUT TREVALI MINING CORPORATION
Trevali has two advanced-stage polymetallic
(zinc-lead-silver-copper) deposits in Canada and Peru - the
Halfmile and Santander mine projects respectively. In Canada,
Trevali owns the Halfmile Mine and Stratmat polymetallic deposit in
the Bathurst Mining Camp of northern New Brunswick, and the
past-producing Ruttan copper-zinc mine in northern Manitoba.
Production from the Halfmile Mine commenced in early 2012 and will
ramp up to a planned production rate of 2,000-tonnes-per-day.
In Peru, the Company has the Santander zinc-lead-silver mine
project and the former-producing Huampar silver mine, both located
in the Central Peruvian Polymetallic Belt. Mine commissioning is
anticipated to commence at the Santander operation in mid-2012 with
ramp up to full 2,000-tonne-per-day production to follow shortly
thereafter. Additionally through its wholly-owned subsidiary
Trevali Renewable Energy Inc., Trevali is undertaking a significant
upgrade of its wholly-owned Tingo run-of-river hydroelectric
generating facility along with transmission line upgrades and
extensions to allow, in addition to supplying power to the mining
operation on the property, the potential sale of surplus power into
the Peruvian National Energy Grid.
The common shares of Trevali are listed on the TSX (symbol TV),
the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol
TV). Warrants to purchase common shares of Trevali are listed on
the TSX (symbol TV.WT). For further details on Trevali, readers are
referred to the Company's web site (www.trevali.com) and to
Canadian regulatory filings on SEDAR at www.sedar.com.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and a
qualified person as defined by National Instrument 43-101, has
supervised the preparation of the scientific and technical
information that forms the basis for this news release. Dr. Cruise
is not independent of the Company, as he is an officer and
shareholder.
The work program at Stratmat was designed and supervised by,
Dayle Rusk, P.Geo - VP-Exploration, Trevali, who is responsible for
all aspects of the work, including the quality control/quality
assurance programs.
On Behalf of the Board of Directors of TREVALI MINING
CORPORATION
Mark D. Cruise, President
This news release contains "forward-looking statements" within
the meaning of the United States private securities litigation
reform act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation. Statements
containing forward-looking information express, as at the date of
this news release, the Company's plans, estimates, forecasts,
projections, expectations, or beliefs as to future events or
results and the company does not intend, and does not assume any
obligation to, update such statements containing the
forward-looking information. Such forward-looking statements and
information include, but are not limited to statements as to: the
accuracy of estimated mineral reserves and resources, anticipated
results of future exploration, and forecast future metal prices,
anticipated results of future electrical sales and expectations
that environmental, permitting, legal, title, taxation,
socio-economic, political, marketing or other issues will not
materially affect estimates of mineral reserves. These statements
reflect the Company's current views with respect to future events
and are necessarily based upon a number of assumptions and
estimates that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies.
These statements reflect the Company's current views with
respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained in this
news release and the company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: fluctuations in spot and forward markets for
silver, zinc, base metals and certain other commodities (such as
natural gas, fuel oil and electricity); fluctuations in currency
markets (such as the Peruvian sol versus the U.S. dollar); risks
related to the technological and operational nature of the
Company's business; changes in national and local government,
legislation, taxation, controls or regulations and political or
economic developments in Canada, the United States, Peru or other
countries where the Company may carry on business in the future;
risks and hazards associated with the business of mineral
exploration, development and mining (including environmental
hazards, industrial accidents, unusual or unexpected geological or
structural formations, pressures, cave-ins and flooding); risks
relating to the credit worthiness or financial condition of
suppliers, refiners and other parties with whom the Company does
business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards; employee relations; relationships
with and claims by local communities and indigenous populations;
availability and increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development, including the risks of obtaining necessary licenses
and permits and the presence of laws and regulations that may
impose restrictions on mining,; diminishing quantities or grades of
mineral reserves as properties are mined; global financial
conditions; business opportunities that may be presented to, or
pursued by, the Company; the Company's ability to complete and
successfully integrate acquisitions and to mitigate other business
combination risks; challenges to, or difficulty in maintaining, the
Company's title to properties and continued ownership thereof; the
actual results of current exploration activities, conclusions of
economic evaluations, and changes in project parameters to deal
with unanticipated economic or other factors; increased competition
in the mining industry for properties, equipment, qualified
personnel, and their costs. Investors are cautioned against
attributing undue certainty or reliance on forward-looking
statements.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated,
estimated, described or intended. The Company does not intend, and
does not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or
changes in circumstances or any other events affecting such
statements or information, other than as required by applicable
law.
Trevali's production plans at Halfmile-Stratmat and Santander
are based only on Indicated and Inferred Mineral Resources and not
Mineral Reserves and do not have demonstrated economic viability.
Inferred Mineral Resources are considered too speculative
geologically to have the economic considerations applied to them
that would enable them to be categorized as Mineral Reserves, and
there is therefore no certainty that the conclusions of the
production plans and Preliminary Economic Assessment (PEA) will be
realized. Additionally where Trevali discusses
exploration/expansion potential, any potential quantity and grade
is conceptual in nature and there has been insufficient exploration
to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.
The TSX has not approved or disapproved of the contents of this
news release.
Contacts: Trevali Mining Corporation Steve Stakiw Manager -
Corporate Communications (604) 488-1661 / Direct: (604) 638-5623
(604) 408-7499 (FAX)sstakiw@trevali.com www.trevali.com
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