Trevali Mining Corporation (“Trevali” or the “Company”)
(TSX: TV; OTCQX: TREVF) is pleased to announce results
from the 2019 infill drill program at the Caribou Zinc-Lead-Silver
Mine in the Bathurst Mining Camp, New Brunswick, Canada. The
surface drilling campaign, which focused on delineation and
conversion of Inferred Mineral Resources to Indicated Mineral
Resources north of current Mineral Reserves, has intersected
several zones of economical Zn-Pb-Ag mineralization. This indicates
that mineralization, is wider than previously interpreted in
portions of the North Limb and continues at mineable depths towards
the north.
Highlights
- Hole BR-1047 intersected 4.19 metres at 7.91% Zn, 2.54% Pb and
66.50 g/t Ag.
- Hole BR-1047A intersected 23.00 metres at 5.84% Zn, 1.93% Pb
and 69.25 g/t Ag.
- Hole BR-1047B intersected 29.01 metres at 6.24% Zn, 2.33% Pb
and 63.05 g/t Ag.
- Hole BR-1048 intersected 68.74 metres at 7.19% Zn, 2.57% Pb,
and 86.45 g/t Ag.
- Hole BR-1048A intersected 9.00 metres at 7.11% Zn, 2.86% Pb,
and 82.69 g/t Ag.
Caribou North Limb
delineation
During the fall of 2019, Trevali completed 3,815
metres of drilling on the Caribou North Limb, with the goal of
increasing confidence in the geological model. Previous drilling
campaigns by Trevali in this area had intersected locally
higher-grade mineralization, notably in drill holes BR-1014A and
BR-1030. The northern portion of Caribou North Limb was classified
as Inferred Mineral Resources and a surface drilling campaign was
completed with the focus on upgrading the Mineral Resource to
Indicated near to planned mine development as well as testing areas
around previous well-mineralized drill intercepts.
Figure 1: 3-D view of
North Limb of the Caribou deposit, looking east with 2019 Trevali
drilling along with 2018 year-end Mineral Resource classification
is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0fc83de-687b-4c97-adca-f0ebc99516df
Assay results from the drill program are
summarized in Table 1. The drill program is expected to further
increase the geological confidence of the currently defined
Inferred Mineral Resource on the North Limb and will support long
term mine development decisions. Of particular note are holes
BR-1047A, BR-1047B, BR-1048, and BR-1048A which help to define a
zone of thick (±15-30m) and higher-grade (>7.5% Zn+Pb)
mineralization around 2015 drill hole BR-1014A (2015-04-16_NR), see
Figure 1. The large Inferred Mineral Resource currently defined on
the northern portion of the North Limb requires further definition
drilling to delineate its extents towards along strike as well as
at depth.
Table 1: Summary of
2019 Caribou North Limb drill hole assay results. Length and SG
weighted assay composites.
HOLE ID |
|
FROM (m) |
TO (m) |
Interval (m) |
True thickness (m) |
Zn (%) |
Pb (%) |
Cu (%) |
Ag (g/t) |
Au (g/t) |
BR-1046 |
|
578.60 |
584.10 |
5.50 |
2.95 |
4.30 |
1.44 |
0.25 |
49.33 |
1.07 |
|
648.00 |
653.00 |
5.00 |
2.01 |
5.78 |
0.89 |
0.29 |
21.51 |
0.23 |
|
588.00 |
648.00 |
60.00 |
28.74 |
1.24 |
0.38 |
0.63 |
19.13 |
0.36 |
BR-1047 |
|
556.68 |
560.87 |
4.19 |
1.85 |
7.91 |
2.54 |
0.39 |
66.50 |
1.36 |
BR-1047A |
|
542.00 |
565.00 |
23.00 |
14.23 |
5.84 |
1.93 |
0.25 |
69.25 |
1.89 |
incl |
542.00 |
552.00 |
10.00 |
6.02 |
6.31 |
2.52 |
0.14 |
75.44 |
2.22 |
|
571.24 |
573.55 |
2.31 |
1.76 |
4.57 |
1.65 |
0.24 |
50.61 |
1.36 |
BR-1047B |
|
542.19 |
571.20 |
29.01 |
19.45 |
6.24 |
2.33 |
0.27 |
63.05 |
1.62 |
incl |
562.00 |
571.20 |
9.20 |
6.10 |
8.00 |
3.30 |
0.36 |
80.87 |
2.21 |
BR-1048 |
|
527.75 |
596.49 |
68.74 |
31.85 |
7.19 |
2.57 |
0.32 |
86.45 |
2.13 |
incl |
535.00 |
544.00 |
9.00 |
4.43 |
7.43 |
3.58 |
0.13 |
105.85 |
2.95 |
|
572.00 |
577.00 |
5.00 |
2.35 |
10.75 |
3.60 |
0.30 |
91.06 |
1.77 |
BR-1048A |
|
615.00 |
624.00 |
9.00 |
3.35 |
5.35 |
1.68 |
0.32 |
42.96 |
1.60 |
|
646.00 |
655.00 |
9.00 |
3.40 |
7.11 |
2.86 |
0.44 |
82.69 |
2.30 |
|
669.00 |
673.52 |
4.52 |
1.60 |
6.32 |
0.92 |
0.31 |
34.01 |
0.60 |
Table 2: Drill hole
collar locations
Hole ID |
Area |
Easting |
Northing |
Elevation (m) |
Azimuth |
Dip |
Depth (m) |
Notes |
BR-1046 |
North Limb |
703254 |
5271928 |
418 |
230 |
-81 |
659 |
|
BR-1047 |
North Limb |
703254 |
5271928 |
418 |
223.7 |
-79 |
591 |
|
BR-1047A |
North Limb |
703254 |
5271928 |
418 |
223.7 |
-79 |
596 |
Branch from BR-1047 |
BR-1047B |
North Limb |
703254 |
5271928 |
418 |
223.7 |
-85 |
587 |
Branch from BR-1047 |
BR-1048 |
North Limb |
703248 |
5271928 |
418 |
246 |
-85 |
611 |
|
BR-1048A |
North Limb |
703248 |
5271928 |
418 |
246 |
-85 |
683 |
Branch from BR-1048 |
Regional exploration
Regional exploration during 2019 has focused on
advancing regional targets on Trevali’s greenfield properties, more
specifically Heath Steele East and Murray Brook South.
At Heath Steele East, the 2019 expansion of a
ground gravity survey initially completed in 2017 has furthered the
geological understanding of the property and identified several
anomalies associated with geologically favorable horizons for
further testing.
At Murray Brook South, a time-Domain
Electro-Magnetic (“TDEM”) survey was completed over portions of the
Murray Brook South claim in order to refine targets for drill
testing in December 2019, results are pending. Trenching performed
in 2018 as part of a joint venture agreement between Puma
Exploration and Trevali discovered a narrow gossan within the Mount
Brittain formation, which hosts the Murray Brook deposit located
1.5km to the north-east. A drilling program is currently underway
to test the Murray Brook South anomalies.
Figure 2: Regional overview of the Bathurst Mining Camp
with Trevali properties is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/ec29c2bd-5c35-4761-8b01-16292dc8a4c8
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 (778) 655-6070
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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