Restigouche Drill
Highlights:15 metres grading 8% Zn, 6.4% Pb &
44 g/t Ag;21.3 metres grading 6.5% Zn, 5.2% Pb
& 65 g/t Ag; and17.2 metres grading 8.7% Zn,
7.2% Pb & 199 g/t Ag
Trevali Mining Corporation (“Trevali” or the
“Company”) (TSX:TV) (BVL:TV) (OTCQX:TREVF) (Frankfurt:4TI) provides
an update on exploration and development activities to support its
Bathurst Mining Camp “Life-of-Mill” strategy in New Brunswick,
Canada (Figure 1).
Figure
1: Trevali Projects in the
Bathurst Mining Camp (New Brunswick) (Note: Red stars are
100%-owned by Trevali; Blue stars are advanced properties under
option). Figure 1 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/e913ad39-47c2-4ac0-9d92-c3dda86bb128.
“The combination of ongoing exploration success
and strategic acquisitions in the Bathurst Mining Camp has
delivered a strong pipeline to support our life-of-mill plan at
Caribou,” stated Dr. Mark Cruise, Trevali President and CEO.
“Trevali has solidified a dominant land position in order to
optimize milling operations in the region for the benefit of all
stakeholders.”
Trevali currently owns four deposits and has the
option to acquire two advanced deposits in the Bathurst Mining Camp
(“BMC”) (Figure 1). Anchored by the Caribou Mill
and related infrastructure, the Company’s focus is to complete
advanced geological and engineering studies in order to facilitate
long-term production based on the Company’s life-of-mill strategy
(Figure 2).
Figure
2: Trevali's Life-of-Mill
strategy for the BMC. (Note: Constitutes forward-looking
information; see "Cautionary Note Regarding Forward-Looking
Statements".)Figure 2 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/d1099f31-41e3-46df-b753-6d22fd337295.
The Company continues to explore the operating
Caribou deposit in addition to conducting definition drilling and
advanced engineering / mine planning studies on the Restigouche and
Murray Brook deposits.
CARIBOU
MINE
EXPLORATIONDuring 2017, the
Company added approximately 4 million tonnes of inferred mineral
resources to the Caribou deposit. As follow-up, a 12,000-metre
exploration and definition drill program commenced in mid-June 2018
targeting the down-dip extensions of the East Limb, Hinge Zone and
the newly discovered CX Zone, all of which remain open for
extension (Figure 3).
Figure 3: Caribou 2018
Exploration TargetsFigure 3 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/7ff93633-5c78-4fe0-b9c3-04a868042d03.
RESTIGOUCHE
DEPOSITDuring the second quarter
of 2018, the Company completed approximately 5,000 metres of
diamond drilling to increase confidence in historic data, aid
geologic re-interpretation and facilitate detailed mine planning.
The drilling confirmed the presence of thick, stacked zones of
high-grade zinc-lead-silver mineralization (Table 1 and Figures 4
and 5).
Figure
4: Plan view of the Restigouche
deposit (projected to surface) showing the 2018 drill hole
locations.Figure 4 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/2888c25f-e360-4d3a-9692-8663889aaf43.
Borehole |
Depth (metres) |
Core Length Interval (metres) |
True Thickness (metres) |
Zn (%) |
Pb (%) |
Cu (%) |
Ag (g/t) |
Au (g/t) |
From |
To |
RST18-020 |
|
143.36 |
189.75 |
46.39 |
44.53 |
4.17 |
3.40 |
0.16 |
31.19 |
0.31 |
incl. |
143.36 |
159.00 |
15.64 |
15.03 |
8.01 |
6.43 |
0.27 |
44.19 |
0.53 |
RST18-021 |
|
158.58 |
179.00 |
20.42 |
20.3 |
6.37 |
5.03 |
0.29 |
41.05 |
1.09 |
incl. |
158.58 |
167.85 |
9.27 |
9.22 |
8.12 |
6.71 |
0.32 |
60.33 |
1.75 |
|
181.10 |
196.00 |
14.90 |
14.81 |
5.85 |
3.34 |
0.33 |
35.10 |
0.60 |
RST18-022 |
|
160.00 |
185.70 |
25.70 |
25.62 |
5.28 |
4.36 |
0.33 |
52.32 |
1.74 |
incl. |
164.25 |
173.85 |
9.60 |
9.57 |
6.80 |
5.41 |
0.33 |
49.60 |
0.80 |
RST18-023 |
|
154.00 |
190.00 |
36.00 |
29.34 |
5.87 |
4.60 |
0.36 |
53.54 |
1.19 |
incl. |
154.00 |
173.76 |
19.76 |
16.11 |
6.39 |
5.58 |
0.36 |
55.48 |
1.03 |
|
180.00 |
189.10 |
9.10 |
7.4 |
6.55 |
4.44 |
0.44 |
73.09 |
2.11 |
RST18-024 |
|
137.30 |
142.95 |
5.65 |
3.7 |
5.37 |
4.07 |
0.24 |
65.54 |
0.94 |
RST18-025 |
|
132.70 |
139.80 |
7.10 |
4.88 |
5.35 |
3.01 |
0.25 |
37.71 |
0.47 |
RST18-026 |
|
126.55 |
182.60 |
56.05 |
45.9 |
6.05 |
4.33 |
0.28 |
90.53 |
1.11 |
incl. |
126.55 |
138.75 |
12.20 |
9.99 |
7.59 |
5.83 |
0.37 |
272.05 |
3.28 |
incl. |
173.10 |
181.50 |
8.40 |
6.89 |
9.20 |
7.29 |
0.32 |
51.30 |
0.83 |
RST18-027 |
|
154.42 |
173.63 |
19.21 |
16.9 |
6.81 |
5.23 |
0.24 |
58.46 |
1.10 |
RST18-028 |
|
137.30 |
184.00 |
46.70 |
21.31 |
6.53 |
5.20 |
0.29 |
65.64 |
0.94 |
RST18-029 |
|
133.32 |
135.75 |
2.43 |
2.02 |
5.83 |
6.57 |
0.48 |
214.12 |
1.85 |
RST18-030 |
|
97.80 |
108.10 |
10.30 |
9.8 |
6.67 |
4.66 |
0.34 |
80.03 |
0.71 |
RST18-031 |
|
96.85 |
102.62 |
5.77 |
5.42 |
6.67 |
2.92 |
0.32 |
50.82 |
0.34 |
RST18-032 |
|
93.30 |
102.48 |
9.18 |
8.87 |
8.15 |
1.51 |
0.42 |
16.80 |
0.08 |
RST18-033 |
|
102.06 |
111.76 |
9.70 |
9.46 |
5.53 |
4.25 |
0.34 |
66.45 |
0.94 |
|
118.29 |
122.13 |
3.84 |
3.75 |
8.58 |
0.20 |
0.36 |
8.10 |
0.08 |
RST18-034 |
|
111.22 |
136.70 |
25.48 |
21.2 |
7.09 |
5.54 |
0.31 |
47.03 |
0.73 |
RST18-035 |
|
101.72 |
108.45 |
6.73 |
6.69 |
3.54 |
1.87 |
0.21 |
38.62 |
0.67 |
incl. |
112.27 |
115.80 |
3.53 |
3.51 |
4.45 |
2.57 |
0.22 |
44.33 |
0.16 |
RST18-036 |
|
77.07 |
81.31 |
4.24 |
4.12 |
8.29 |
7.15 |
0.32 |
106.94 |
1.38 |
|
116.78 |
121.78 |
5.00 |
4.73 |
3.36 |
2.01 |
0.17 |
24.14 |
0.29 |
|
130.11 |
135.96 |
5.85 |
5.54 |
3.41 |
2.07 |
0.18 |
26.93 |
0.10 |
RST18-037 |
|
79.31 |
97.30 |
17.99 |
17.19 |
8.72 |
7.20 |
0.30 |
198.90 |
1.76 |
incl. |
79.31 |
85.10 |
5.79 |
5.53 |
9.70 |
8.27 |
0.31 |
156.06 |
2.09 |
incl. |
88.00 |
97.30 |
9.30 |
6.91 |
9.72 |
7.85 |
0.36 |
264.04 |
1.87 |
RST18-038 |
|
182.55 |
215.00 |
32.45 |
29.48 |
5.58 |
4.69 |
0.21 |
32.80 |
0.49 |
incl. |
182.55 |
196.74 |
14.19 |
12.88 |
8.26 |
6.69 |
0.29 |
43.51 |
0.66 |
RST18-039 |
|
175.45 |
200.20 |
24.75 |
23.12 |
8.83 |
6.95 |
0.33 |
99.82 |
1.22 |
|
236.49 |
247.88 |
11.39 |
10.67 |
4.00 |
2.81 |
0.18 |
26.16 |
0.15 |
RST18-040 |
No Significant Intercept |
RST18-041 |
|
235.40 |
236.90 |
1.50 |
1.20 |
6.58 |
4.15 |
0.28 |
70.32 |
0.37 |
Table
1: Assay results from Restigouche
2018 definition drill program. |
|
Figure
5: Section through Restigouche
(looking southwest) showing 2018 drill holes and select
highlights.Figure 5 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/3ed82477-8f33-4645-ba7a-8daca80d5792.
MURRAY BROOK PROJECTTrevali has
an option to acquire up to a 75% interest in the Murray Brook
Project by providing $7.5 million in financing for Puma Exploration
Inc. (“Puma”) to enable Puma to close its acquisition of the
project (see March 2, 2018 Trevali news release for details). The
Murray Brook deposit is located 10 kilometres west of the Caribou
Mill and 10 kilometres east of the Restigouche Deposit along the
Caribou ore horizon (Figures 1 and 6).
The deposit currently has an estimated measured
and indicated mineral resource of 5.28 million tonnes averaging
5.24% zinc, 1.80% lead, 0.46% copper, 68.9 g/t silver and 0.65 g/t
gold, containing approximately 610 million pounds of zinc, 209
million pounds of lead and 11.7 million ounces of silver as of
December 21, 2016.
The core of the mineral resource occurs in the
West Zone (zinc-lead dominant) which is approximately 200 metres
wide, extending from surface to approximately 300 metres vertical;
the true thickness of the massive sulphide body varies from 75
metres to 100 metres. The East Zone (copper-gold dominant) is
approximately 100 metres wide, also extending from surface to
approximately 300 vertical metres. On February 20, 2017, Puma filed
on SEDAR a technical report entitled “Amended and Restated
Technical Report and Updated Mineral Resource Estimate on the
Murray Brook Project”.
In conjunction with Puma, the Company plans to
advance the Murray Brook deposit to a production decision a timely
manner. A full evaluation of the resource has been completed to
further define the resource domains and confirm previous model
accuracy. The Trevali-led advanced projects team has commenced
geotechnical and metallurgical drilling and additional exploration,
drilling, trenching and geophysics will be carried out on nearby
priority targets on the mining lease (Figure 6).
Figure
6: Murray Brook Exploration
Alliance 2018 Program.Figure 6 is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/efad6b75-8e1c-4494-93c4-408fa497c14f.
The land package held by Trevali/Puma in the
northern part of the Bathurst Mining Camp covers approximately 14
kilometers of strike along the productive Caribou ore horizon and
is considered highly prospective and generally under-explored. This
area of the BMC (Figure 6) has not received the same level of
exploration investment compared to the southern part of the
camp.
SECOND QUARTER PRODUCTION &
FINANCIAL RESULTSSecond quarter preliminary production
results will be released following TSX market close on Wednesday,
July 18, 2018 and associated financial results will be released
following TSX market close on August 8, 2018. A Q2-2018 Earnings
Call will be held on Thursday, August 9, 2018 at 10:30AM Eastern
Time with call-in details to be provided.
Qualified Person and Quality
Control/Quality AssuranceEurGeol Dr. Mark D. Cruise,
Trevali's President and CEO and Daniel Marinov, P.Geo, Trevali’s VP
Exploration, are qualified persons as defined by NI 43-101, have
supervised the preparation of the scientific and technical
information that forms the basis for this news release. Mr. Marinov
is responsible for all aspects of the work, including the quality
control/quality assurance programs. Dr. Cruise is not independent
of the Company, as he is an officer, director and shareholder. Mr.
Marinov is not independent of the Company as he is an officer and
shareholder. On-site personnel at the project rigorously collect
and track samples which are then security sealed and shipped to
Bureau Veritas Laboratories (Bureau Veritas) preparation facility
in Timmins, ON for crushing and splitting then the pulp samples are
shipped to Vancouver, BC for assay. Zinc, lead, copper gold and
silver, assays were obtained by four acid Aqua-Regia dissolution
followed by Inductively coupled plasma optical emission
spectrometry (ICP-OES) measurements. Values of Zinc, lead and
copper over 10% are assayed by volumetric method. Analytical
accuracy and precision are monitored by the analysis of reagent
blanks, reference material and replicate samples. Quality control
is further assured by the use of international and in-house
standards. Blind certified reference material is inserted at
regular intervals into the sample sequence by Trevali personnel in
order to independently assess analytical accuracy. Bureau Veritas’
quality system complies with the requirements for the International
Standards ISO 9001:2000 and ISO 17025: 1999. Finally,
representative blind duplicate samples are routinely forwarded to
an ISO compliant third party laboratory for external quality
control.
ABOUT TREVALI MINING
CORPORATIONTrevali is a zinc-focused, base metals company
with four mines: the wholly-owned Santander mine in Peru, the
wholly-owned Caribou mine in the Bathurst Mining Camp of northern
New Brunswick, its 90% owned Rosh Pinah mine in Namibia and its 90%
owned Perkoa mine in Burkina Faso.
The shares of Trevali are listed on the TSX
(symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange
(symbol TV), and the Frankfurt Exchange (symbol 4TI). For further
details on Trevali, readers are referred to the Company’s website
(www.trevali.com) and to Canadian regulatory filings on SEDAR at
www.sedar.com.
On Behalf of the Board of Directors ofTREVALI MINING
CORPORATION“Mark D. Cruise” (signed)Mark D. Cruise,
President
Contact Information:Steve Stakiw, Vice
President - Investor Relations and Corporate CommunicationsEmail:
sstakiw@trevali.comPhone: (604) 488-1661 / Direct: (604)
638-5623
Cautionary Note Regarding
Forward-Looking StatementsThis news release contains
“forward-looking information” within the meaning of the Canadian
securities legislation and “forward-looking statements” within the
meaning of Section 27A of the United States Securities Act of 1933,
as amended, Section 21E of the United States Exchange Act of 1934,
as amended, the United States Private Securities Litigation Reform
Act of 1995, or in releases made by the United States Securities
and Exchange Commission, all as may be amended from time.
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
Company’s long-term life-of-mill strategy based on the potential of
continued utilization of the Caribou Mill Complex to process
mineral feed from the Company’s other projects and deposits in the
BMC beyond the operating life of the Caribou underground mine, the
timing and amount of estimated future production, the estimation of
mineral resources and mineral reserves, costs and timing of
development, potential operating efficiencies, costs and
expenditures, expectations regarding milling operations and metal
production shortfalls, metal output and throughput rates,
anticipated results of future exploration, expected costs of
exploration, expected exploration programs and value adds, and
forecast future metal prices.
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. If any assumptions are untrue, it could cause
actual results, performance or achievements to be materially
different from future results, performance or achievements
expressed or implied by such statements. Assumptions have been made
regarding, among other things, present and future business
strategies and the environment in which the Company will operate in
the future, and including commodity prices, anticipated costs and
ability to achieve goals.
Forward-looking statements are subject to known
and unknown risks, uncertainties and other important factors that
may cause the Company’s actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: risks related to joint venture operations;
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; 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, Namibia, Burkina
Faso, 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 resources or 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, as well as those factors discussed in the section
entitled “Risk Factors” in the Company’s most recently filed annual
information form. 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.
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.
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