Trevali Mining Corporation (“Trevali” or the “Company”)
(TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI) announces
additional details from the 2019 exploration and mineral resource
expansion program on the discovery of the new volcanogenic massive
sulphide (VMS) lens at the Perkoa Mine, Burkina Faso. To date, the
new massive VMS lens has been intersected in multiple drill holes
including PUX021 which intersected 3.42 metres at 13.8% Zn while
distal alteration and disseminated mineralization can be traced at
least 300 m to the southwest from drill hole PUX020. The
mineralization is open along strike and at depth down plunge with
exploration drilling currently ongoing.
“We are encouraged by the results from the
exploration program along the Perkoa T3 horizon,” commented Yan
Bourassa, Vice-President of Mineral Resource Management at Trevali.
“We are still early in the exploration program of the T3 horizon
and our latest drill hole, PUX021, intersected high-grade on the
most northern hole drilled to date. Geochemical vectors are getting
stronger as drilling moves towards the northeast indicating that
the early intercepts could represent the edge of a larger
system.”
Highlights
- Hole PUX021 intersected 3.42 metres at 13.8% Zn, including 1.66
metres at 19.4% Zn.
- Hole PUX020a intersected 6.80 metres at 6.4% Zn, including 1.50
metres at 9.5% Zn.
- T3 horizon has been intersected over 400 metres along
strike.
Perkoa Discovery
Following the acquisition of the Perkoa mine in
August 2017, Trevali recognized the strength of the mineralizing
system and targeted expanding Perkoa from a two lens mine into a
multi-horizon system. In late 2018, a hole drilled into the Perkoa
hanging wall (PUX012) intersected a subtle geochemical anomaly; the
first indication of the T3 horizon. By following this geochemical
feature, with secondary support from down hole electro-magnetics
(DHEM), massive to semi massive sulphide was intersected in PUX020a
returning 6.8 metres at 6.4% Zn including 1.5 metres at 9.5% Zn,
indicating the high-grade potential.
The follow-up hole PUX021 intersected only
anomalous mineralization around the T3 horizon. However, the hole
was continued and intersected a second mineralized horizon, which
contained massive sulphide over 3.42 metres at 13.8% Zn, including
1.66 metres at 19.4% Zn, approximately 980 metres below surface.
System analysis suggests that this second horizon is the same as
the massive sulphide horizon seen in PUX020a, but offset
approximately 50 metres by a fault.
Figure 1: Plan view of the Perkoa T3 horizon
exploration drilling is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0f66bfd-78fc-44fa-b222-7e6bd93b5e8a
The earlier exploration holes (PUX012, 010a, 013
& 019) all intersected a chemical marker horizon (CMH) which is
interpreted as a hanging wall exhalative, a common feature which
forms an extensive blanket cover, over VMS deposits. The horizon
was traced for over 400 metres before the blind T3 VMS was
discovered. The T3 discovery validates and demonstrates the
efficiency of the geochemical vectors which are also applied to
regional exploration. The VMS mineralization intersected to date is
comparable visually and texturally to the Perkoa high-grade Main
and Hanging Wall lenses. Exploration of the T3 horizon is at an
early stage, but the horizon is open along strike and down-plunge
at depth.
Hole ID |
Azimuth |
Dip |
From (m) |
To (m) |
Interval (m) |
Zn % |
Zone |
PUX013 |
341 |
-52.9 |
553.20 |
592.20 |
39.00 |
2.1 |
CMH |
PUX020a |
355 |
-50.6 |
566.50 |
573.30 |
6.80 |
6.4 |
T3 |
Incl. 567.47 |
568.97 |
1.50 |
9.5 |
T3 |
PUX021 |
353 |
-55.3 |
454.85 |
456.85 |
2.00 |
7.5 |
CMH |
551.70 |
555.12 |
3.42 |
13.8 |
T3 |
Incl. 553.46 |
555.12 |
1.66 |
19.4 |
T3 |
PUX022 |
346.5 |
-61.5 |
No Significant Intersection |
Table 1: Summary drill hole assay results. True
width unknown due to early stage of exploration but estimated at
65-80% of reported interval.
Regional exploration
Regional exploration has progressed well during
2019, with numerous Perkoa-style systems identified within 16km of
the Perkoa Mine. An additional two prospects have been identified
with a similar geochemical anomaly to the T3 discovery, one of
which is associated with electro-magnetic (EM) anomaly, 4.5km
northeast of Perkoa and referred to as Aswé and is budgeted to be
drilled in 2020. These anomalies are priority targets for drill
testing in early 2020 during the dry season.
During 2019, two new exploration permits along
strike of Perkoa were granted, giving Trevali access to an
additional 381km2 of area to explore. These new permits are around
a known historic zinc prospect, which has seen no modern
exploration. The application of Trevali’s proven discovery
techniques and the understanding the team has developed to this new
area makes for an exciting 2020.
Hanging Wall Lens infill
Since September 2019, a second underground
diamond drill rig has been active targeting resource conversion on
the Hanging Wall Lens at depth. As illustrated in Figure 2, the
program is focusing on Indicated to Measured Mineral Resources
conversion between depths of -550 metres down to -700 metres, while
the program is targeting conversion of Inferred to Indicated
Mineral Resources between depths of -700 metres to -800 metres. The
program is advancing well and is approximately 50% complete. After
the final 4,000 metres of infill drilling is completed in early
2020, this second rig will also be used to explore the T3
horizon.
Results received to date are listed in the table
below and have been in line with expected width and grade from the
previous modeling and resource estimation.
Figure 2: Longitudinal section of the Perkoa
Hanging Wall Lens resource conversion drilling is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0ecf42d2-7c57-4f9f-9f6f-180b8332c037
Hole ID |
Azimuth |
Dip |
From (m) |
To (m) |
Interval (m) |
Zn % |
Zone |
PU424A |
343.5 |
-11.5 |
51.3 |
63 |
11.7 |
12.5 |
HWL |
PU428 |
12.6 |
-11.3 |
64.4 |
83.6 |
19.2 |
13.4 |
HWL |
PU429 |
330.3 |
-41.3 |
70.8 |
83.7 |
12.9 |
6.3 |
HWL |
PU430 |
7.8 |
-12.8 |
115.5 |
137.2 |
21.7 |
1.3 |
HWL |
PU432 |
5.2 |
-26.2 |
136.2 |
152.1 |
15.9 |
7.0 |
HWL |
incl. 140.7 |
152.1 |
11.4 |
8.8 |
HWL |
PU436 |
336.5 |
-52.2 |
93.9 |
102.7 |
8.8 |
11.2 |
HWL |
PU441 |
353.8 |
-42 |
157.7 |
162.47 |
4.77 |
24.1 |
HWL |
Table 2: Summary drill hole assay results of
the Hanging Wall Lens infill drilling.
About Trevali Mining Corporation
Trevali is a global base-metals mining company,
headquartered in Vancouver, Canada. The bulk of Trevali’s revenue
is generated from base-metals mining at its four operational
assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned
Rosh Pinah Mine in Namibia, the wholly-owned Caribou Mine in
northern New Brunswick, Canada and the wholly-owned Santander Mine
in Peru. In addition, Trevali owns the Halfmile and Stratmat
Properties and the Restigouche Deposit in New Brunswick, Canada,
and the past-producing Ruttan Mine in northern Manitoba, Canada.
Trevali also owns an effective 44%- interest in the Gergarub
Project in Namibia, as well as an option to acquire a 100% interest
in the Heath Steele deposit located in New Brunswick, Canada. 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.
Investor Relations Contact:Brendan Creaney –
Vice President, Investor RelationsEmail: bcreaney@trevali.comPhone:
+1 (604) 638-5623
Cautionary Note Regarding
Forward-Looking Information
This news release contains “forward-looking
information” within the meaning of Canadian securities legislation
and “forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995
(collectively, “forward-looking statements”). Forward-looking
statements are based on the beliefs, expectations and opinions of
management of the Company as of the date the statement are
published, and the Company assumes no obligation to update any
forward-looking statement, except as required by law.
Forward-looking statements relate to future events or future
performance and reflect management’s expectations or beliefs
regarding future events including, but not limited to, statements
with respect to the Company’s growth strategies, the continued
success of mineral exploration, the content, cost, timing and
results of future exploration programs and life of mine
expectancies, Trevali’s ability to fund future exploration
activities, estimation of mineral reserves and mineral resources,
the realization of mineral reserve estimates, the timing and amount
of estimated future production, costs of production and capital
expenditures, success of mining operations, environmental risks,
unanticipated reclamation expenses and title disputes or claims. In
certain cases, forward-looking statements can be identified by the
use of words such as “plans”, “expects”, “outlook”, “guidance”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “believes”, or variations of such words and
phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might”, “will be taken”, “occur” or “be
achieved” or the negative of these terms or comparable terminology.
By their very nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others, risks related to
actual results of current exploration activities, including the
inherent uncertainty of mineral exploration and estimations of
exploration targets; changes in project parameters as plans
continue to be refined; future prices of zinc, lead, silver and
other minerals and the anticipated sensitivity of our financial
performance to such prices; possible variations in ore reserves,
grade or recoveries; dependence on key personnel; potential
conflicts of interest involving our directors and officers; labour
pool constraints; labour disputes; availability of infrastructure
required for the development of mining projects; delays or
inability to obtain governmental and regulatory approvals for
mining operations or financing or in the completion of development
or construction activities; counterparty risks; increased operating
and capital costs; foreign currency exchange rate fluctuations;
operating in foreign jurisdictions with risk of changes to
governmental regulation; compliance with governmental regulations;
compliance with environmental laws and regulations; land
reclamation and mine closure obligations; challenges to title or
ownership interest of our mineral properties; maintaining ongoing
social license to operate; impact of climatic conditions on the
Company’s mining operations; corruption and bribery; limitations
inherent in our insurance coverage; compliance with debt covenants;
competition in the mining industry; our ability to integrate new
acquisitions into our operations; cybersecurity threats;
litigation; and other risks of the mining industry including,
without limitation, other risks and uncertainties that are more
fully described in the Company’s annual information form, interim
and annual audited consolidated financial statements and
management’s discussion and analysis of those statements, all of
which are filed and available for review under the Company’s
profile on SEDAR at www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. Trevali provides no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events may differ from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
Compliance with NI 43-101
Yan Bourassa, P.Geo, Trevali’s Vice President,
Mineral Resource Management, is a qualified person as defined by
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects. Mr. Bourassa supervised the preparation of the scientific
and technical information that forms the basis for this news
release and has approved the contents of this news release.
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