VANCOUVER, BC, April 21,
2022 /CNW/ - Trevali Mining Corporation
("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF)
(Frankfurt: 4TI) provides an
update on search and rescue efforts at the Perkoa Mine in
Burkina Faso
following intense rainfall that occurred in the early morning
of April 16, 2022 and resulted in a
flash flood that breached protective berms surrounding the open
pit.
Eight workers remain unaccounted for following the evacuation of
the underground area of the mine and search and rescue efforts
continue. Mining and milling operations at Perkoa will remain
suspended for the foreseeable future and the Company is working
closely with Burkinabe authorities as it investigates the cause of
the flood event following heavy rainfall of approximately 125 mm of
rain that fell in less than an hour.
Trevali's senior leaders, including Ricus Grimbeek, President
and Chief Executive Officer, Derek du Preez, Chief Operating
Officer, and Richard Weishaupt,
Senior Vice President, Health, Safety, Environment & Community,
have travelled to the Perkoa Mine site and are conducting site and
area inspections, an inspection of accessible areas of the
underground mine, and will have conversations with the families of
the eight missing workers.
"Our primary focus has been, and will remain, the search and
rescue of the missing eight miners and our thoughts are with the
families, friends, and colleagues who have been impacted," said
Ricus Grimbeek, President and CEO. "In the days following the flash
flood, we have been working tirelessly with the support of various
government agencies and officials who have made numerous visits to
the mine site and are working in coordination with rescue efforts.
We have also received tremendous support from the extended mining
community in Burkina Faso, who
have volunteered highly trained personnel and equipment for use in
the search and rescue."
"The health and safety of our workers is our top priority, and
all efforts are being made to extend the search into the lower
levels of the Perkoa Mine. We will not cease our efforts until we
have found our missing colleagues."
In the days following the flash flood, Perkoa employees and
Trevali management have continued to work with Byrnecut, Trevali's
mining contractor at the Perkoa Mine, to support the families and
community members of the missing workers. Management from both
companies are in daily contact with family members of the missing
eight workers to provide assistance, support, and updates on the
rescue operation.
After initial assessment, the following has been
determined:
- A heavy rainfall event with approximately 125 mm of rain in
less than an hour, as reported by the Ministry of Mines and
Quarries in an April 19 Communique,
occurred the morning of April 16 in
the region of the Perkoa Mine, triggering local flash floods. This
rain event occurred outside the usual rainy season, which is June
to September.
- The open pit of the Perkoa Mine was surrounded by two separate
berms that were breached by the flash flood. Water entered the open
pit and subsequently went into the underground mine. As the water
entered the mine, electricity and communications underground were
lost.
- While the majority of workers underground or preparing to enter
the mine were able to safely evacuate, eight workers remain
unaccounted for. There has been no communication with these workers
since soon after the evacuation order was given.
Subsequent to evacuation:
- After flooding stopped, the water level in the mine settled at
approximately Level 520 (520 metres from surface). The search above
this level was completed as of April 16,
2022. Mine depth is to Level 710.
- Personnel from the Burkinabe Ministry of Mines and Quarries,
the National Emergency Rescue, Military Civil Construction, the
Governor of Central West Region, and High Commissioner of Réo have
made numerous visits to the mine site and are working in
coordination with rescue efforts.
- Communications have been re-established to Level 520 and
electrical power is re-established to Level 430.
The Company will provide further details on progress of the mine
rescue and site investigation as more information becomes
available.
2022 Production guidance for
Perkoa suspended
All underground mining and surface activities at Perkoa remain
suspended as the search and rescue operation continues and the
Company and authorities investigate the flood event. The current
suspension, investigation and review of future mining at the Perkoa
Mine will likely result in reduced zinc production in 2022 for the
Company relative to previously released annual guidance. The
requirements for infrastructure refurbishment and construction
linked to repairs and rehabilitation at the mine remain unknown, as
does the timing for a potential restart of mining and processing
activities. Underground development activities will only recommence
once it has been determined that this can be done safely. As the
Company's investigation progresses and the assessment of the
underground areas advances, we will provide additional detail on
the estimated impact on mining operations. In the meantime, we are
suspending our production and cost guidance for 2022 as it relates
to Perkoa.
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 zinc and lead concentrate
production at its three operational assets: the 90%-owned Perkoa
Mine in Burkina Faso, the
90%-owned Rosh Pinah Mine in Namibia, and the wholly owned Caribou Mine in
northern New Brunswick, Canada. In
addition, Trevali owns the Halfmile and Stratmat Properties and the
Restigouche Deposit in New Brunswick,
Canada. Trevali also owns an effective 44% interest in the
Gergarub Project in Namibia. The
Company's growth strategy is focused on the exploration,
development, operation, and optimization of properties within its
portfolio, as well as other mineral assets it may acquire that fit
its strategic criteria. Trevali's vision is to be a responsible,
top-tier operator of long-life, low-cost mines in stable pro-mining
jurisdictions. Trevali is committed to socially responsible mining,
working safely, ethically, and with integrity. Integrating
responsible practices into its management systems, standards, and
decision-making processes is essential to ensuring everyone and
every community's long-term sustainability.
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.
Cautionary Note Regarding
Forward-Looking Information and Statements
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. 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. 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 suspension of mining
and milling operations at Perkoa, the rescue and recovery
efforts at Perkoa, the efficacy of pumping, de-watering and
restoration of electrical power and communications at the lower
levels of Perkoa, the results of any investigation of the flooding
incident, the Company's assessment of the effect of the flooding on
the safety and structural integrity of Perkoa's underground areas,
the effect of the flooding on the cost of production at Perkoa, the
length of time before underground mining operations can be
recommenced safely at Perkoa and the effect of the suspension on
the Company's results of operations and metal production. As
well, forward looking statements relate 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. 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, including any new or ongoing
decrees and regulations issued by any governmental authority in
response to the COVID-19 pandemic; 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.
SOURCE Trevali Mining Corporation