Trevali Intersects 26.75 Metres of 7.42% Zinc, 1.37% Lead, 1.26%
Copper, 94.2 g/t Silver & 2.45 g/t Gold at Stratmat Deposit in
New Brunswick
Additional drill result highlights include:
6.53m @ 14.74% Zn, 7.57% Pb, 0.61% Cu, 118 g/t Ag & 0.61 g/t
Au
6.5m @ 9.78% Zn, 5.21% Pb, 0.19% Cu, 56.35 g/t Ag & 0.23 g/t
Au
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 26, 2014) -
Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) provides an update on
drilling activities at its Stratmat Zinc-Lead-Silver-Copper-Gold
Deposit in the Bathurst Mining Camp of New Brunswick, Canada.
Initial holes from the current drill program have successfully
intersected multiple high-grade massive sulphide lenses over
significant downhole intervals (Table 1 & Figures 1 and 2). All
lenses remain open for extension.
The Stratmat deposit currently hosts a NI-43-101 inferred
resource of 5.5 million tonnes grading 6.1% zinc, 2.6% lead, 0.4%
copper, 54 g/t silver and 0.6 g/t gold.
The approximately 30,000-metre resource definition drill program
is designed to:
- Aid in the re-interpretation of the historic geologic logging
and modeling.
- Convert the currently defined resources from the inferred to
indicated category.
- Collect sufficient geotechnical, environmental and
metallurgical data to facilitate detailed permitting and mine
planning studies regarding the potential of the Halfmile and
Stratmat deposits to support a possible 4-5,000 tonne-per-day
stand-alone milling operation (the Company cautions that any
decision regarding the potential construction of a second milling
facility is contingent on results and numerous variables including
but not limited to commodity prices. There is presently
insufficient data and studies to support such a decision at this
point in time).
Detailed interpretation of historic drill hole data combined
with recent Trevali drilling has resulted in an improved
understanding of the local geology and an enhanced 3-D
interpretation of the mineral geometry.
The current Phase II drill program is on-going and it is
anticipated, based on results to date, to expand upon the current
and historic results.
Table 1: Stratmat Deposit drill results.
HOLE# |
From (m) |
To (m) |
Interval (m)* |
Zn (%) |
Pb (%) |
Cu (%) |
Ag (g/tonne) |
Au (g/tonne) |
ST-750 |
504.42 |
505.71 |
1.29 |
6.27 |
3.09 |
0.23 |
58.86 |
0.16 |
580.25 |
582.02 |
1.77 |
11.59 |
6.53 |
0.52 |
94.07 |
0.26 |
633.58 |
637.84 |
4.26 |
6.01 |
2.21 |
0.16 |
43.72 |
0.33 |
643.70 |
645.40 |
1.70 |
8.28 |
3.34 |
0.28 |
29.56 |
0.65 |
ST-751 |
Results pending |
RST-752 |
338.27 |
342.74 |
4.47 |
2.56 |
0.71 |
0.31 |
8.90 |
0.16 |
430.78 |
457.53 |
26.75 |
7.42 |
1.37 |
1.26 |
94.28 |
2.45 |
519.36 |
525.36 |
6.00 |
2.64 |
0.71 |
0.08 |
31.76 |
0.44 |
545.72 |
552.50 |
6.78 |
3.52 |
0.42 |
0.08 |
25.75 |
0.23 |
632.13 |
649.72 |
17.59 |
4.09 |
0.57 |
0.23 |
19.74 |
0.38 |
ST-753 |
305.50 |
309.50 |
4.00 |
4.78 |
2.21 |
0.17 |
59.72 |
0.14 |
422.69 |
430.99 |
8.30 |
4.37 |
2.13 |
0.32 |
25.47 |
0.19 |
ST-754 |
408.87 |
415.40 |
6.53 |
14.74 |
7.57 |
0.61 |
118.09 |
0.65 |
571.57 |
574.40 |
2.83 |
5.32 |
2.03 |
0.08 |
42.49 |
0.40 |
ST-755 |
352.30 |
358.80 |
6.50 |
9.78 |
5.21 |
0.19 |
56.35 |
0.23 |
404.57 |
416.00 |
11.43 |
6.06 |
3.14 |
0.19 |
32.32 |
0.22 |
472.00 |
475.50 |
3.50 |
1.74 |
0.73 |
0.10 |
12.37 |
0.11 |
498.35 |
505.08 |
6.73 |
9.10 |
3.51 |
0.26 |
81.19 |
1.01 |
679.22 |
684.34 |
5.12 |
1.55 |
0.87 |
0.07 |
31.76 |
0.35 |
*Intervals are downhole with true width estimated to be
~80-85% of reported intervals. |
To view the figures associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/trev0226.pdf
Trevali at PDAC 2014
Shareholders and interested individuals are invited to visit
Trevali's booth (#3240) and meet senior management at the PDAC 2014
Investors Exchange from March 2-5, 2014 at the Metro Toronto
Convention Centre, South Building. Trevali is also participating in
the Corporate Presentation Forum for Investors at PDAC 2014 on
Monday, March 3rd at 3:00PM in Room 802AB (Level 800), as part of
the Base Metals 1 session.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, and M.
Dayle Rusk, P.Geo, Trevali's Director, Geology, are qualified
persons as defined by NI 43-101, have supervised the preparation of
the scientific and technical information that forms the basis for
this news release. Dr. Cruise is not independent of the Company as
he is an officer, director and shareholder. Ms. Rusk is not
independent of the Company as she is an officer and shareholder.
On-site personnel at the project rigorously collect and track
samples which are then security sealed and shipped to Activation
Laboratories preparation facility in Fredericton, New Brunswick,
then to Ancaster, Ontario for assay. Activation Laboratories
quality system complies with the requirements for the International
Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy
and precision are monitored by the analysis of reagent blanks,
reference material and replicate samples. Quality control is
further assured by the use of international and in-house standards.
Blind certified reference material is inserted at regular intervals
into the sample sequence by Trevali personnel in order to
independently assess analytical accuracy.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals mining company with
operations in Peru and Canada.
In Peru, the Company is actively operating its wholly-owned
Santander underground zinc-lead-silver mine and 2,000-tonne-per-day
metallurgical plant, and producing zinc and lead-silver
concentrates.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine
and Stratmat polymetallic deposit all located in the Bathurst
Mining Camp of northern New Brunswick. Initial trial production
from the Halfmile underground mine was successfully undertaken in
2012 and the Company anticipates commencing operations at its
3,000-tonne-per-day Caribou Mill Complex in early 2015.
All of the Company's deposits remain open for expansion.
The common shares of Trevali are listed on the TSX (symbol TV),
the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol
TV). For further details on Trevali, readers are referred to the
Company's web site (www.trevali.com) and to Canadian regulatory
filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of TREVALI MINING
CORPORATION
Mark D. Cruise, President
This news release contains "forward-looking statements" within
the meaning of the United States private securities litigation
reform act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation. 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 and the company does not intend, and does not assume any
obligation to, update such statements containing the
forward-looking information. Such forward-looking statements and
information include, but are not limited to statements as to: the
accuracy of estimated mineral reserves and resources, anticipated
results of future exploration, and forecast future metal prices,
anticipated results of future electrical sales and expectations
that environmental, permitting, legal, title, taxation,
socio-economic, political, marketing or other issues will not
materially affect estimates of mineral reserves. 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.
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.
Many factors, both known and unknown, could cause actual results,
performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained in this
news release and the company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: 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 (such as the Peruvian sol versus the U.S. dollar); 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 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 reserves 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.
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.
Trevali's production plans at Caribou-Halfmile-Stratmat and
Santander are based only on Indicated and Inferred Mineral
Resources and not Mineral Reserves and do not have demonstrated
economic viability. Inferred Mineral Resources are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as Mineral
Reserves, and there is therefore no certainty that the conclusions
of the production plans and Preliminary Economic Assessment (PEA)
will be realized. Additionally where Trevali discusses
exploration/expansion potential, any potential quantity and grade
is conceptual in nature and there has been insufficient exploration
to define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.
We advise US investors that while the terms "measured
resources", "indicated resources" and "inferred resources" are
recognized and required by Canadian regulations, the US Securities
and Exchange Commission does not recognize these terms. US
investors are cautioned not to assume that any part or all of the
material in these categories will ever be converted into
reserves.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities described herein have not been and will not
be registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold within the United States, absent such registration or an
applicable exemption from such registration requirements.
The TSX has not approved or disapproved of the contents of this
news release.
Trevali Mining CorporationSteve StakiwVice President, Investor
Relationsand Corporate Communications(604) 488-1661 / Direct: (604)
638-5623sstakiw@trevali.com
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