Trevali Drilling Intersects Multi-Lens Sulphides 450 Metres Below
Currently Defined Resource at Caribou Deposit in New Brunswick
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2014) -
Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces the
intersection of multi-lens massive-to-disseminated sulphides in
diamond drill hole BR-1005 at the Caribou Zinc-Lead-Copper-Silver
Mine Project in the Bathurst Mining Camp of New Brunswick, Canada.
This newly discovered mineralization is located approximately 450
metres below the currently defined resource at the Caribou
deposit.
Results of this diamond drill hole further confirm the presence
of a very significant mineralizing system at the Caribou deposit
that remains open for expansion. All historic drill holes below the
current resource have intersected significant sulphide
mineralization.
Figure 1 shows the location of BR-1005 in relation to the
Caribou resource, and intervals are summarized in Table 1. A
listing of selected significant drill hole intercepts shown in
Figure 1 are listed in Table 2.
Table 1: Downhole mineralized intervals of drill hole
BR-1005 |
From (metres) |
To (metres) |
Interval (metres) |
Mineral Description |
1072.71 |
1076.74 |
4.03 |
Massive Sulphides |
1081.55 |
1083.72 |
2.17 |
Disseminated Sulphides |
Due to technical difficulties, this deep hole failed to test the
entire favourable productive host-rock sequence. Geochemical assays
are pending, however, the geological results are sufficiently
encouraging that Trevali plans to wedge off the parent drill hole
to better test the prospective horizon approximately 150 metres
up-dip of the intercept. Additionally borehole electromagnetics
("BHEM") will be utilized in order to help image the sulphide
horizon and to define follow-up targets.
The Caribou deposit currently hosts a measured and indicated
resource of 7,230,000 tonnes grading 6.99% Zn, 2.93% Pb, 0.43% Cu,
84.4 g.t Ag and 0.9 g/t Au, plus an additional inferred resource of
3,660,000 tonnes grading 6.95% Zn, 2.81% Pb, 0.32% Cu, 78.3 g.t Ag
and 1.2 g/t Au.
Ongoing Exploration at Caribou
During the fourth quarter of 2013, the Company initiated a
property-wide compilation of all previous exploration work. This
compilation coupled with a newly acquired Quantec Geoscience Titan
24 geophysical survey is being used to identify high priority
targets on the under-explored Caribou property. A follow-up,
property-wide diamond drill program supported by BHEM is in
progress.
To view Figure 1, visit the following link:
http://media3.marketwire.com/docs/943848-F1.pdf.
Table 2: Historic diamond drill hole assay
intervals |
Drillhole |
From (metres) |
To (metres) |
Interval (metres) |
Ag (gm/t) |
Au (gm/t) |
% Cu |
% Pb |
% Zn |
DDH112B |
1025.21 |
1027.15 |
1.94 |
53.65 |
0.16 |
0.22 |
2.86 |
5.45 |
1036.53 |
1041.60 |
5.07 |
57.71 |
0.75 |
0.34 |
2.56 |
5.28 |
1064.49 |
1065.58 |
1.09 |
63.40 |
3.57 |
0.41 |
2.20 |
5.68 |
DDH076 |
957.38 |
963.17 |
5.79 |
146.60 |
1.19 |
0.28 |
3.93 |
8.46 |
973.16 |
974.69 |
1.53 |
62.03 |
2.74 |
0.45 |
2.23 |
6.24 |
DDH076A |
769.62 |
772.52 |
2.90 |
88.46 |
1.53 |
0.48 |
4.25 |
7.91 |
796.14 |
797.97 |
1.83 |
46.28 |
1.71 |
0.35 |
1.62 |
6.05 |
Caribou Preliminary Economic Assessment
The independent Preliminary Economic Assessment for the
Company's Caribou Mine and Mill Complex, being prepared by SRK
Consulting (Canada) Inc., is nearing completion and expected within
the next one-to-two weeks. The study will form the basis for
Trevali's restart of the Caribou operations in 2015.
Q1-2014 Financial Results
Trevali will release financial results for its first quarter
period ending March 31, 2014 on May 15, 2014 after the close of the
trading day in Toronto.
The Company will host a conference call and audio webcast at
10:30 a.m. Eastern Time on Friday, May 16, 2014, to review the
financial results. Participants are advised to dial in 5-to-10
minutes prior to the scheduled start time of the call.
Conference call dial-in details:
Toll-free (North America): 1-800-769-8320
Toronto and international: 1-416-340-8530
Audio Webcast: http://www.gowebcasting.com/5537
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.
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 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 website (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 Stakiw - Vice President,Investor
Relations and Corporate Communications(604) 488-1661 / Direct:
(604) 638-5623sstakiw@trevali.comwww.trevali.com
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