Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) reports
that ongoing development at its Santander Zinc-Lead-Silver Mine in
west-central Peru is in the final phase with initial mining and
milling operations currently scheduled to commence in Q1-2013. All
critical mill and processing infrastructure is now in place and
underground development continues to progress well with 1.8
kilometres of ramp completed to date. Approximately 100,000 tonnes
of mineralized material averaging 5.6% zinc, 0.65% lead and 1.65
oz/t silver has now been stockpiled on surface for processing upon
commissioning of the 2,000 tonne-per-day plant. There are currently
over 900 construction workers, contractors, miners and management
staff on site involved in the final development process.
SITE INFRASTRUCTURE
All core site infrastructure is now complete and fully
operational - accommodation units, catering facilities, and various
mine planning and site offices.
Construction of the project's 65-kilometre transmission-line to
the National Grid has been completed. Energization of the
power-line is currently being coordinated with the Peruvian
regulator in order to minimize disruptions with local end-users. It
is anticipated that the Santander mine site will be accessing power
from the Peruvian Grid prior to year-end. In the interim, during
this the final construction phase, site is being powered by the
Company's run-of-river power station at Tingo and supplemented by a
combination of generators and excess power from a neighbouring
mining unit.
PROCESSING PLANT
The Processing Plant is currently scheduled to commence
operation in Q1-2013 with ramp-up and optimization progressing
thereafter (Fig. 1:
http://media3.marketwire.com/docs/837293_figures.pdf).
All critical plant buildings are completed - Flotation, Filter
Areas, Concentrate Sheds, Milling and Crushing modules, Zn and Pb
Thickeners and Closed Industrial Water circuits. The various Mills
(Primary through to Re-grind) and flotation cells are all
installed. Ongoing construction is presently focusing on finishing
the Tailings Management Facility, Coarse and Fine Mineral
Stock-pile areas, E-Houses and the Reagent Unit. Piping and
Electrical work is ongoing and is making progress.
UNDERGROUND DEVELOPMENT
The Company's mining contractors, JRC Ingenieros, have completed
an aggregate of 1.8 kilometres of underground ramp
(5-metre-by-4-metre) development on the Magistral North, Central
and South deposits from three portals to facilitate high-speed
underground trackless mining (Fig. 2 and 3:
http://media3.marketwire.com/docs/837293_figures.pdf). Ground
conditions are moderate to good and minimal ground support is
required to date in the ramps and mineralized zones.
Underground development has confirmed the presence of several
zones of potentially significant footwall satellite mineralization
that will require additional drilling at a later date and
contingent on results may provide additional mill-feed. Underground
channel sampling on one such zone at the Magistral North Deposit
returned the following results (Table 1 and Fig. 4:
http://media3.marketwire.com/docs/837293_figures.pdf):
Table 1: Channel sample results from new footwall mineralized zone at
Magistral North Deposit
----------------------------------------------------------------------------
Channel Sample Length (m) Zn% Pb% Cu% Ag g/T (oz/t)
----------------------------------------------------------------------------
1 4.65m 2.88% 2.51% 0.09% 57.9 g/T (1.69 oz/t)
----------------------------------------------------------------------------
2 5.80m 3.24% 2.31% 0.09% 67.9 g/T (1.98 oz/t)
----------------------------------------------------------------------------
3 3.50m 0.99% 0.54% 0.03% 12.3 g/T (0.36 oz/t)
----------------------------------------------------------------------------
4 3.10m 7.14% 5.26% 0.18% 136.5 g/T (3.98 oz/t)
----------------------------------------------------------------------------
5 3.45m 5.86% 5.73% 0.14% 168.7 g/T (4.92 oz/t)
----------------------------------------------------------------------------
6 5.30m 7.88% 6.46% 0.28% 133.0 g/T (3.88 oz/t)
----------------------------------------------------------------------------
7 5.45m 5.32% 4.83% 0.18% 142.3 g/T (4.15 oz/t)
----------------------------------------------------------------------------
Average 4.46m 4.76% 3.96% 0.15% 102.2 g/T (2.98 oz/t)
----------------------------------------------------------------------------
VICE PRESIDENT - INVESTOR RELATIONS AND CORPORATE
COMMUNICATIONS
Trevali is pleased to announce the appointment of Mr. Steve
Stakiw as Vice President, Investor Relations and Corporate
Communications. Mr. Stakiw initially joined Trevali in April 2008,
as Manager - Corporate Communications, and has been instrumental in
expanding the Company's institutional and retail investor base in
North America, Europe and South America, in addition to being a key
member of the team that has raised in excess of $140 million to
successfully acquire, explore and develop the Santander, Halfmile,
Caribou and Stratmat projects to date. Mr. Stakiw is a geologist
with over 20 years of mineral exploration, research and
finance/equity market experience, and has held senior management
roles with a leading mining research and investment publication and
has consulted to resource-focused investment funds.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and a
qualified person as defined by NI 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, director and shareholder.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals development company with
operations in Canada and Peru - the Halfmile and Santander mines
respectively. In Canada, Trevali owns the Halfmile zinc-lead-silver
mine, the Caribou mine and mill, and Stratmat polymetallic deposit
all located in the Bathurst Mining Camp of northern New Brunswick.
The Company also has the past-producing Ruttan copper-zinc mine in
northern Manitoba. Initial trial production from the Halfmile mine
was successfully undertaken in 2012 and underground development is
ramping up to achieve a planned production rate of approximately
3,000-tonnes-per-day to feed planned operations at the Company's
Caribou Mill Complex in 2013.
In Peru, the Company has the Santander zinc-lead-silver mine 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 Q1-2013 with
subsequent ramp up to full 2,000-tonnes-per-day production.
Additionally through its wholly-owned subsidiary, Trevali Renewable
Energy Inc., Trevali plans to undertake a significant upgrade of
its wholly-owned Tingo run-of-river hydroelectric generating
facility to allow, in addition to supplying power to the Santander
mining operation, 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.
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, Caribou 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, Vice
President, Investor Relations and Corporate Communications (604)
488-1661 / Direct: (604) 638-5623sstakiw@trevali.com
www.trevali.com
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