Trevali Reports Positive Santander Mine Commissioning Progress
September 10 2013 - 9:20AM
Marketwired Canada
Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV) (TSX:TV.WT)
(OTCQX:TREVF) (LMA:TV) (FRANKFURT:4TI) announces that processing plant
commissioning, and zinc and lead-silver concentrate production from its
Santander Mine in Peru, is progressing well. Concentrate inventories are
accumulating with initial shipments scheduled this month.
Since the announcement of production commencement at Santander in mid-August
(see news release TV-NR-13-19) the Company has seen mill performance and
commissioning ramp-up steadily improve from approx. 500 to 1,500-1,600
tonnes-per-day, about 75% of its nameplate 2,000-tonne-per-day capacity.
The metallurgical recovery circuits are also seeing steady improvements as the
reagent/flotation process gets balanced through the ramp-up process. During the
month of August the processing plant was processing very low-grade material as
the operators familiarized themselves with the plant. The Santander team is
steadily increasing mineral head-grades in addition to optimizing mill feed
towards anticipated nameplate hard-rock/stockpile production levels. Recoveries
to date are essentially directionally proportional to mineral feed grades, that
is, higher grades result in higher recoveries.
----------------------------------------------------------------------------
Tonnes processed to date (approx.): 35,000 tonnes
----------------------------------------------------------------------------
Zinc concentrate produced to date (approx.): 1,200 tonnes
----------------------------------------------------------------------------
Average zinc concentrate grade: 49% Zn
----------------------------------------------------------------------------
Lead-silver concentrate produced to date (approx.): 300 tonnes
----------------------------------------------------------------------------
Average lead-silver concentrate grade: 49% Pb, 47 oz/T Ag
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Period Zinc recovery Lead recovery Silver recovery
----------------------------------------------------------------------------
Since start-up 73% 78% 58%
----------------------------------------------------------------------------
(i)September-to-date 77% 79% 64%
----------------------------------------------------------------------------
Note: Reported production is preliminary in nature and subject to regular
and ongoing reconciliation studies.
(i) September average feed grades to date: 3.5% Zn, 0.8% Pb and 0.9 oz/T Ag
Now that sufficient initial mineral processing and concentrate data has been
acquired, Trevali's consulting metallurgist will be on-site in September in
order to help further optimize Plant operations and recoveries. It is also
anticipated that comissioning later in the month of the OAS / Courier system (a
real-time Plant geochemical analysis system) should also have an additional
positive effect on mineral recoveries.
The Company currently has approx. 160,000 tonnes of mineralized material
stockpile grading 4.9% Zn, 1.2% Pb, 0.22% Cu and 1.5 oz/T Ag at its crusher pad
that is feeding the mill.
"We are very encouraged with the excellent progress being achieved in the
Santander Mill commissioning, which is a testament to the dedication and skill
set of the operations team," stated Trevali President and CEO Dr. Mark Cruise.
"With significant concentrate inventory now in our on-site warehouse facilities,
our maiden concentrate shipments are scheduled to commence later in the month."
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, 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 mining company with operations in Canada
and Peru.
In Peru, the Company has commenced commissioning and concentrate production at
its Santander zinc-lead-silver mine and metallurgical plant with subsequent ramp
up to 2,000-tonnes-per-day production scheduled in Q4-2013.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat
polymetallic deposit all located in the Bathurst Mining Camp of northern New
Brunswick. Initial trial production from the Halfmile underground mine was
successfully undertaken in 2012 and the Company anticipates commencing
operations at its 3,000-tonne-per-day Caribou Mill Complex in 2014.
All of the Company's deposits remain open for expansion.
The common shares of Trevali are listed on the TSX (symbol TV), the OTCQX
(symbol TREVF) and on the Lima Stock Exchange (symbol TV). Certain 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 Caribou-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.
We advise US investors that while the terms "measured resources", "indicated
resources" and "inferred resources" are recognized and required by Canadian
regulations, the US Securities and Exchange Commission does not recognize these
terms. US investors are cautioned not to assume that any part or all of the
material in these categories will ever be converted into reserves.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities
described herein have not been and will not be registered under the United
States Securities Act of 1933, as amended, or the securities laws of any state
and may not be offered or sold within the United States, absent such
registration or an applicable exemption from such registration requirements.
The TSX has not approved or disapproved of the contents of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Trevali Mining Corporation
Steve Stakiw, Vice President,
Investor Relations and Corporate Communications
(604) 488-1661 / Direct: (604) 638-5623
sstakiw@trevali.com
www.trevali.com
Trevali Mining (TSX:TV.WT)
Historical Stock Chart
From Oct 2024 to Nov 2024
Trevali Mining (TSX:TV.WT)
Historical Stock Chart
From Nov 2023 to Nov 2024
