Trevali Mining Corporation (“Trevali” or the
“Company”) (TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI)
provides an update on the Murray Brook Project located
approximately 10 km west of the Caribou Mill complex in the
Bathurst Mining Camp, New Brunswick, Canada.
In conjunction with joint venture partner Puma
Exploration Inc. (“Puma”) a seven hole, 1,700-metre geotechnical
and metallurgical drill program was undertaken to provide material
for ongoing mine design and planning purposes. Drilling targeted a
variety of mineral domains to provide representative sample suites
from the deposit, including the copper zone (see Table 1 and Figure
1). Metallurgical recovery testing is in process at RPC in
Fredericton, New Brunswick with results anticipated in October.
Drilling confirmed good to excellent mineral
continuity and significant zinc, lead and copper grades were
returned over wide intervals, with highlights including:
- MB18-01 intersecting 36.6 metres grading 1.4% Cu (including a
9-metre interval of 4.0% Cu);
- MB18-02 intersecting 19.0 metres averaging 2.1% Cu (including a
5-metre interval of 4.3% Cu);
- MB18-03 intersecting 24.0 metres of 2.5% Cu (including a
6-metre interval of 4.0% Cu);
- MB18-05 intersected 120.9 metres grading 6.1% Zn and 2.1% Pb
(including a 27-metre interval of 13.1% Zn and 4.8% Pb); and
- MB18-07 intersected 87.1 metres averaging 6.9% Zn and 2.4% Pb
(including a 21-metre interval of 10.2% Zn and 3.1% Pb)
“These drill results illustrate the continuity
and the high-grade core of the Murray Brook deposit and will feed
into ongoing geotechnical/metallurgical studies and mine
development plans,” stated Dr. Mark Cruise, Trevali’s President and
CEO. “Murray Brook, given its proximity to our Caribou operations,
is an important component of our Bathurst Mining Camp life-of-mill
strategy whereby we look to leverage our existing processing
complex to facilitate long-term production in the region.”
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|
|
DDH # |
From (m) |
To (m) |
Length (m) |
Zn (%) |
Pb (%) |
Cu (%) |
Ag (g/t) |
MB-2018-01 |
46.7 |
101.0 |
54.4 |
1.23 |
0.57 |
1.16 |
37 |
including |
48.0 |
54.0 |
6.0 |
1.71 |
0.83 |
2.00 |
51 |
including |
64.4 |
101.0 |
36.6 |
1.38 |
0.63 |
1.35 |
41 |
incl. |
86.0 |
100.0 |
14.0 |
1.17 |
0.46 |
2.97 |
42 |
incl. |
91.0 |
100.0 |
9.0 |
0.68 |
0.26 |
4.00 |
36 |
MB-2018-02 |
19.0 |
228.0 |
209.0 |
2.83 |
0.84 |
0.38 |
33 |
including |
19.0 |
88.0 |
69.0 |
3.71 |
1.07 |
0.79 |
31 |
incl. |
19.0 |
38.0 |
19.0 |
1.85 |
0.61 |
2.11 |
31 |
incl. |
20.0 |
29.0 |
9.0 |
1.99 |
0.7 |
3.12 |
37 |
incl. |
21.0 |
26.0 |
5.0 |
2.25 |
0.84 |
4.29 |
40 |
incl. |
53.0 |
63.0 |
10.0 |
6.23 |
2.23 |
0.17 |
41 |
including |
133.0 |
178.0 |
45.0 |
3.72 |
1.13 |
0.12 |
48 |
incl. |
136.0 |
140.0 |
4.0 |
6.01 |
2.24 |
0.02 |
58 |
including |
168.0 |
177.0 |
9.0 |
6.02 |
1.78 |
0.09 |
74 |
incl. |
169.0 |
174.0 |
5.0 |
8.33 |
2.70 |
0.06 |
97 |
including |
212.0 |
215.0 |
3.0 |
5.49 |
2.42 |
0.15 |
51 |
MB-2018-03 |
11.4 |
110.0 |
98.6 |
2.51 |
0.48 |
0.79 |
29 |
including |
12.0 |
36.0 |
24.0 |
3.19 |
0.63 |
2.53 |
41 |
incl. |
12.0 |
26.0 |
14.0 |
2.75 |
0.43 |
3.12 |
42 |
incl. |
12.0 |
18.0 |
6.0 |
2.84 |
0.61 |
4.00 |
63 |
including |
26.0 |
42.0 |
16.0 |
3.70 |
0.75 |
1.01 |
32 |
incl. |
26.0 |
34.0 |
8.0 |
5.06 |
1.09 |
1.57 |
39 |
incl. |
63.0 |
66.0 |
3.0 |
6.77 |
0.28 |
0.15 |
28 |
including |
80.0 |
102.0 |
22.0 |
3.73 |
0.87 |
0.19 |
42 |
incl. |
85.0 |
99.0 |
14.0 |
4.87 |
1.22 |
0.20 |
52 |
incl. |
85.0 |
92.0 |
7.0 |
6.10 |
1.38 |
0.11 |
60 |
MB-2018-04 |
114.0 |
252.3 |
138.3 |
1.56 |
0.69 |
0.65 |
37 |
including |
199.0 |
228.0 |
29.0 |
3.08 |
1.16 |
0.22 |
63 |
incl. |
218.0 |
228.0 |
10.0 |
3.95 |
1.21 |
0.41 |
65 |
MB-2018-05 |
109.4 |
230.3 |
120.9 |
6.11 |
2.05 |
0.11 |
70 |
including |
112.0 |
139.0 |
27.0 |
7.31 |
2.22 |
0.07 |
88 |
incl. |
112.0 |
122.0 |
10.0 |
8.17 |
2.38 |
0.06 |
88 |
including |
179.0 |
230.3 |
51.3 |
8.54 |
3.07 |
0.13 |
93 |
incl. |
182.0 |
217.0 |
35.0 |
10.72 |
3.84 |
0.15 |
117 |
incl. |
190.0 |
217.0 |
27.0 |
13.09 |
4.80 |
0.11 |
142 |
incl. |
198.0 |
210.0 |
12.0 |
17.25 |
7.38 |
0.12 |
196 |
incl. |
204.0 |
207.0 |
3.0 |
20.10 |
8.17 |
0.15 |
207 |
MB-2018-06A |
57.0 |
215.1 |
158.1 |
3.75 |
1.20 |
0.15 |
38 |
including |
79.0 |
97.0 |
18.0 |
6.08 |
1.76 |
0.10 |
89 |
incl. |
86.0 |
96.0 |
10.0 |
8.05 |
2.08 |
0.08 |
84 |
including |
120.0 |
125.0 |
5.0 |
5.17 |
1.24 |
0.08 |
35 |
including |
146.0 |
151.0 |
5.0 |
5.33 |
1.79 |
0.03 |
52 |
including |
173.0 |
214.0 |
41.0 |
5.45 |
1.82 |
0.13 |
46 |
incl. |
190.0 |
214.0 |
24.0 |
7.56 |
2.81 |
0.06 |
61 |
incl. |
190.0 |
207.0 |
17.0 |
8.07 |
2.84 |
0.06 |
64 |
incl. |
202.0 |
207.0 |
5.0 |
10.12 |
4.10 |
0.06 |
60 |
MB-2018-07 |
154.9 |
242.0 |
87.1 |
6.86 |
2.35 |
0.13 |
96 |
including |
154.9 |
193.0 |
38.1 |
9.04 |
2.93 |
0.12 |
142 |
incl. |
157.0 |
168.0 |
11.0 |
10.89 |
3.30 |
0.15 |
161 |
incl. |
157.0 |
161.0 |
4.0 |
15.08 |
4.46 |
0.18 |
215 |
including |
181.0 |
242.0 |
61.0 |
7.42 |
2.46 |
0.15 |
96 |
incl. |
181.0 |
202.0 |
21.0 |
10.18 |
3.09 |
0.14 |
144 |
incl. |
181.0 |
193.0 |
12.0 |
16.64 |
4.75 |
0.19 |
243 |
incl. |
182.0 |
189.0 |
7.0 |
19.66 |
5.27 |
0.20 |
274 |
including |
223.0 |
241.0 |
18.0 |
9.66 |
3.16 |
0.23 |
97 |
incl. |
223.0 |
228.0 |
5.0 |
14.67 |
3.68 |
0.22 |
107 |
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Table
1: Murray Brook drill results.
True thickness ranges from 70-90% of the core intervals.
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 to complete
its acquisition of a 100% interest in 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.
The deposit has a measured mineral resource of
3.68 million tonnes grading 5.57% Zn, 1.87% Pb, 0.36% Cu, 70.5 g/t
Ag and 0.56 g/t Au, plus indicated mineral resources of 1.60
million tonnes grading 4.48% Zn, 1.63% Pb, 0.70% Cu, 65.3 g/t Ag
and 0.88 g/t Au (for a combined measured and indicated resource of
5.28 million tonnes averaging 5.24% Zn, 1.80% Pb, 0.46% Cu, 68.9
g/t Ag and 0.65 g/t Au 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, Trevali plans to
advance the Murray Brook deposit to a production decision in a
timely but disciplined manner.
Qualified Person and Quality
Control/Quality AssuranceDaniel Marinov, P.Geo, Trevali’s
VP Exploration, is a qualified person as defined by NI 43-101 and
has 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. Mr. Marinov is not independent
of the Company as he is an officer and shareholder.
All sampling, drilling, testing and analysis are
conducted using rigorous QA/QC procedures to ensure reliability and
validity of results beyond basic regulatory guidelines. Samples are
shipped, stored and assayed at the Caribou mine site lab. The
samples are crushed, split and pulverized at a range of 80 to 100
microns. The crusher and pulverizer are cleaned with pressurized
air between each sample. Zinc, lead, copper and silver assays were
obtained by four acid Aqua-Regia dissolution followed by Atomic
Absorption measurements. Values of zinc over 10% are assayed by
volumetric method. For QA/QC, there are typically 8 standards run
with a batch of 25. A duplicate is done at least once every 50
samples, no blanks are run. Analytical accuracy and precision are
monitored by the analysis of lab reagent blanks, reference material
and replicate samples. Pulps are currently stored in the lab in
labelled brown sealed bags which in turn are stored in organized
labelled boxes. Coarse rejects are stored in labelled 18-litre
pails on pallets inside the Alliance warehouse.
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, the 90% owned Rosh Pinah mine in Namibia and the 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. Such forward-looking statements and information
include, but are not limited to statements as to: the timing and
amount of estimated future production; the estimation of mineral
resources and mineral reserves; costs and timing of development;
operating efficiencies, including the ability to manage water while
reducing power consumption, costs and expenditures; expectations
regarding milling operations and metal production shortfalls; metal
output and throughput rates; cost guidance and anticipated annual
results; anticipated results of future exploration; 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, 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 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 other risks as more fully described in the Company’s annual
information form for the year ended December 31, 2017, which is
available on the Company’s website (www.trevali.com) and filed
under our profile on SEDAR (www.sedar.com). 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.
Note to United States
InvestorsIn accordance with applicable Canadian securities
regulatory requirements, all mineral resource estimates of the
Company disclosed or incorporated by reference in this news release
have been prepared in accordance with Canadian National Instrument
43-101 - Standards of Disclosure for Mineral Projects, classified
in accordance with Canadian Institute of Mining Metallurgy and
Petroleum's “CIM Standards on Mineral Resources and Reserves
Definitions and Guidelines”.
The Company uses the terms "measured mineral
resources", "indicated mineral resources" and "inferred mineral
resources". While these terms are recognized by Canadian securities
regulatory authorities, they are not recognized by the United
States Securities and Exchange Commission. US investors are
cautioned not to assume that any part or all of the material in
these categories will ever be converted into reserves.
Source: Trevali Mining Corporation
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ff92eb37-bd00-4d17-9d58-d01df2e0e8fc
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