VANCOUVER, BC, May 9, 2022
/CNW/ - Trevali Mining Corporation ("Trevali" or the
"Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) provides an update on
search efforts at the Perkoa Mine in Burkina Faso following an April 16 flooding event.
To date, approximately 32 million litres of water have been
removed from the Mine and access has been restored to Level 550.
There has been no communication with the eight missing workers
since April 16 and none have been
located yet. The Company continues to strengthen search
capabilities with additional equipment and resources, and search
crews will continue to work at maximum capacity, 24-hours-per-day
to locate the missing individuals.
Throughout the search process, senior representatives of Trevali
and Byrnecut, the mining contractor at Perkoa, have been in daily
communication with the families of the missing workers and continue
to offer support.
"We are working in solidarity with all levels of government and
as fast as we possibly can using all available resources in the
country, as well as importing additional machinery and equipment to
assist with locating our missing colleagues," said Ricus Grimbeek,
President and CEO. "Our thoughts are with our colleagues' families,
and we continue to work closely with the families and the
government to ensure their needs are met during this difficult
time."
Added Mr. Grimbeek, "Trevali is appreciative of the support of
the government and various agencies in Burkina Faso. We welcome the decision by the
government to move its crisis management committee nearer to the
mine site to better include family members of the missing workers
and facilitate closer collaboration as we rapidly work to locate
the missing individuals. We will remain closely engaged with
government authorities to help the community respond to the impacts
of the recent flooding."
Dewatering and Mine Access
Rehabilitation Progress Update
The search effort requires the careful rebuilding of the road on
more than 5,000 metres of underground decline ramp in order to
facilitate the search efforts and safely install and operate
pumping and piping infrastructure to remove floodwater. As of
May 8:
- Approximately 25,000 tonnes of waste rock has been used in
rehabilitation of the mine access ramp
- 5,000 metres of new poly pipe has been welded and installed in
addition to the existing pipes
- More than 24 electric and diesel pumps have been installed and
put into operation
- Approximately 32 million litres of water have been removed from
the mine
The full extent of required mine rehabilitation efforts will
become known as dewatering progresses to the bottom of the mine at
Level 710.
The Company is in regular communications with Burkinabe
authorities and is grateful for the search and rescue assistance
received from them as well as the Burkina
Faso mining community. The Burkina Faso National Fire
Brigade has been on site at the Mine since shortly after the
flooding event, working alongside Trevali's and West African
Resources's search and rescue teams. Personnel from the Burkinabe
Ministry of Mines and Quarries, the Governor of Central-West
Region, the High Commissioner of Réo, the President of the
Chamber of Mines, the Minister of Civil Service, Labour and Social
Protection; the Minister of National Education, Literacy and
Promotion of National Languages; Military Civil Construction, and
others have all lent their support and coordination to the urgent
search and rescue activities and have made numerous visits to the
mine site. Trevali welcomes all support from the authorities in
assisting with the search and rescue efforts. In addition, family
members of the missing workers have received regular briefings on
the search status and have been to the site and reviewed progress
underground. The Company is committed to full transparency in its
actions and communication of updates to the families and the
authorities.
The Company will provide further details on progress of search
activities and site investigation as more information becomes
available.
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 search efforts at Perkoa,
including the Company's plans with respect thereto, the efficacy of
the Company's pumping, decline ramp rehabilitation and de-watering
activities and its efforts to restore electrical power and
communications at the lower levels of Perkoa, the Company's ability
to effectively dewater the mine and restore access to 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 to the Company's search efforts and plans to
remedy the impact of the flooding at the Perkoa Mine, including
that such efforts and plans will not be effective or achieve their
desired outcomes; 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