Trevali Mining Corp : Trevali intersects multiple zones of thick massive sulphide mineralization at Stratmat Deposit in New Brunswick, Canada
02/06/2012| 10:42am US/Eastern
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February 06, 2012
Trevali intersects multiple zones of thick massive sulphide
mineralization at Stratmat Deposit in New Brunswick, Canada
Highlights include:
13.3 metres at 7.54% zinc, 2.48% lead, 0.43% copper, 72.4 g/t
silver and 0.93 g/t gold
14 metres at 5% zinc, 1.8% lead, 0.23% copper, 58.1 g/t silver
and 1.23 g/t gold
Vancouver, British Columbia-Trevali Mining Corporation
("Trevali" or the "Company") (TSX: TV; BVL:
TV; OTCQX: TREVF; Frankfurt: 4TI) is pleased to announce that
recent diamond drilling at the Stratmat zinc-lead-silver-copper
deposit, in the Bathurst Mining Camp of northern New Brunswick,
has confirmed the presence of extensive massive sulphide
mineralization. Results indicate a new, wide zone of
near-surface (potentially open pittable) mineralization
containing significant zinc, lead, copper, silver and gold
concentrations, that also remains open for expansion along
strike and at depth (Table 1 & Figure 1).
The ongoing planned 5,000-metre drill program is intended to
convert a significant portion of the estimated independent
National Instrument 43-101 compliant inferred resource of 5.5
million tonnes* grading 6.11% Zinc, 2.59% Lead, 0.40% Copper,
54.21 g/t Silver, and 0.62 g/t Gold, to a higher confidence
category.
* NI 43-101 compliant resource estimate by Wardrop Engineering
Inc., November, 2008
Trevali is encouraged by the pervasiveness of the mineralized
zone and anticipates zinc-lead-copper-silver-gold
mineralization to increase with depth: The deepest intercept
(ST-723) contains an impressive 69.38 g/t silver within which a
section returned 2.36% copper, demonstrating a positive change
of geologic environment. Please refer to Figure 1 for drill
hole intercept locations. As well as providing samples for
metallurgical testing, this drill program has established the
continuity of the Main Zone Footwall lens, which is expected to
add new tonnes to the resource base.
|
|
Drill
Hole
|
|
From
(m)
|
|
To
(m)
|
|
Core
Length
|
|
g/t
Au
|
|
g/t
Ag
|
|
%
Cu
|
|
%
Zn
|
|
%
Pb
|
|
Zone
|
|
ST-711
|
178.00
|
192.00
|
15.00
|
0.16
|
7.45
|
0.59
|
0.52
|
0.15
|
Main
|
|
includes:
|
179.00
|
184.00
|
5.00
|
0.27
|
11.95
|
1.22
|
0.62
|
0.14
|
|
|
194.59
|
195.30
|
0.71
|
0.04
|
22.00
|
0.25
|
3.93
|
1.85
|
Main FW
|
|
ST-712
|
115.92
|
129.24
|
13.32
|
0.93
|
72.47
|
0.43
|
7.54
|
2.48
|
Main
|
|
139.30
|
149.91
|
10.61
|
0.92
|
36.50
|
0.16
|
3.82
|
1.05
|
Main FW
|
|
ST-713
|
68.63
|
84.17
|
4.69
|
0.01
|
5.80
|
0.03
|
0.91
|
0.39
|
Main
|
|
ST-714
|
160.42
|
172.00
|
12.58
|
0.09
|
4.19
|
0.74
|
0.11
|
0.04
|
Main
|
|
includes:
|
166.00
|
168.00
|
2.00
|
0.15
|
11.35
|
2.26
|
0.13
|
0.03
|
|
|
188.88
|
190.35
|
1.47
|
0.24
|
134.78
|
0.41
|
4.99
|
2.13
|
Main FW
|
|
ST-715
|
139.00
|
148.16
|
9.16
|
0.24
|
25.38
|
0.14
|
5.30
|
1.56
|
Main
|
|
ST-716
|
110.25
|
137.00
|
26.75
|
0.45
|
22.57
|
0.33
|
2.31
|
0.83
|
Main
|
|
includes:
|
131.00
|
137.00
|
6.00
|
0.65
|
36.75
|
0.09
|
5.36
|
2.30
|
|
|
169.22
|
171.64
|
2.42
|
1.11
|
56.50
|
0.32
|
7.14
|
1.62
|
Main FW
|
|
ST-717
|
47.18
|
74.50
|
27.32
|
1.07
|
50.27
|
0.21
|
4.02
|
1.49
|
Main
|
|
includes:
|
60.50
|
74.50
|
14.00
|
1.23
|
58.18
|
0.23
|
5.02
|
1.80
|
|
ST-717
|
86.15
|
88.92
|
2.77
|
0.20
|
7.27
|
1.72
|
0.25
|
0.04
|
Main FW
|
|
ST-718
|
45.13
|
63.50
|
18.37
|
1.04
|
46.35
|
0.20
|
4.47
|
1.48
|
Main
|
|
ST-719
|
104.79
|
105.73
|
0.94
|
0.64
|
27.00
|
0.33
|
2.43
|
0.72
|
Main
|
|
ST-720
|
108.40
|
112.27
|
3.87
|
0.02
|
54.20
|
0.11
|
2.39
|
0.88
|
Main
|
|
126.43
|
127.16
|
0.73
|
0.27
|
27.00
|
0.11
|
2.28
|
1.26
|
Main FW
|
|
ST-721
|
259.64
|
279.23
|
19.59
|
0.03
|
0.59
|
0.15
|
0.03
|
0.01
|
Main
|
|
ST-722
|
234.63
|
248.00
|
13.37
|
0.09
|
2.41
|
0.12
|
0.18
|
0.05
|
Main
|
|
ST-723
|
249.33
|
257.34
|
8.01
|
0.14
|
69.38
|
0.35
|
0.34
|
0.05
|
Main
|
|
includes:
|
256.55
|
257.34
|
0.79
|
0.87
|
16.00
|
2.36
|
0.22
|
0.02
|
Table 1: Stratmat drill results
Figure 1: Stratmat Main Zone Longitudinal Projection
highlighting drilling intercepts
The Stratmat diamond drill program is continuing through
February 2012. The aim of this next phase is to gain confidence
in the S1 and Central resource zones, which are situated west
of the Main Zone as well as selected deep targets.
HALFMILE AND STRATMAT DEPOSITS
The Halfmile and Stratmat Deposits are a multi-lens
zinc-lead-silver-copper-gold rich volcanogenic massive sulphide
(VMS) deposits located in the renowned Bathurst Mining Camp of
northern New Brunswick in eastern Canada (Figure 2). They
contain significant National Instrument 43-101 Resources - all
of which remain open for expansion (Table 2):
|
|
Halfmile and Stratmat Deposit Resources
|
|
|
Tonnes
|
Zn %
|
Pb %
|
Cu %
|
Ag (g/t)
|
|
|
HALFMILE
|
|
Indicated
|
6,262,043
|
8.13
|
2.58
|
0.22
|
30.78*
|
|
Inferred
|
6,078,200
|
6.69
|
1.83
|
0.14
|
20.51*
|
|
|
STRATMAT
|
|
Inferred
|
5,524,500
|
6.11
|
2.59
|
0.40
|
54.21
|
Calculated by Tetra Tech Wardrop engineers and geologists
using a 5% ZnEQ cutoff
*Silver and gold not routinely analyzed for in historic
drilling.
|
Table 2: NI 43-101 Resource Estimates for Halfmile and Stratmat
Deposits
An independent Preliminary Economic Assessment* from Tetra Tech
Wardop engineering in September 2010 indicated a pre-tax Net
Present Value (6%) of C$343 million at metal prices of
US$1.03/lb Zinc, US$3.03/lb Copper, US$0.92/lb Lead and
US$15.08/oz Silver. The study did not take into account any
potential gold credits.
*Mineral resources that are not mineral reserves do not have
demonstrated economic viability.
Figure 2: Stratmat deposit and Halfmile Mine location map,
northeastern New Brunswick
ABOUT TREVALI MINING CORPORATION
Trevali has two advanced-stage polymetallic
(zinc-lead-silver-copper) deposits in Canada and Peru - the
Halfmile and Santander mine projects respectively. In Canada,
Trevali owns the Halfmile Mine and Stratmat polymetallic
deposit in the Bathurst Mining Camp of northern New Brunswick,
and the past-producing Ruttan copper-zinc mine in northern
Manitoba. Production from the Halfmile Mine commenced in early
2012 and will ramp up to a planned production rate of
2,000-tonnes-per-day.
In Peru, the Company has the Santander zinc-lead-silver mine
project and the former-producing Huampar silver mine, both
located in the Central Peruvian Polymetallic Belt. Mine
commissioning is anticipated to commence at the Santander
operation in mid-2012 with ramp up to full 2,000-tonne-per-day
production to follow shortly thereafter. Additionally through
its wholly-owned subsidiary Trevali Renewable Energy Inc.,
Trevali is undertaking a significant upgrade of its
wholly-owned Tingo run-of-river hydroelectric generating
facility along with transmission line upgrades and extensions
to allow, in addition to supplying power to the mining
operation on the property, the potential sale of surplus power
into the Peruvian National Energy Grid.
The common shares of Trevali are listed on the TSX (symbol TV),
the OTCQX (symbol TREVF) and on the Lima Stock Exchange (symbol
TV). Warrants to purchase common shares of Trevali are listed
on the TSX (symbol TV.WT). 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.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and
a qualified person as defined by National Instrument 43-101,
has 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
and shareholder.
The work program at Stratmat was designed and supervised by,
Dayle Rusk, P.Geo - VP-Exploration, Trevali, who is responsible
for all aspects of the work, including the quality
control/quality assurance programs.
On Behalf of the Board of Directors of
TREVALI MINING CORPORATION
"Mark D. Cruise" (signed)
Mark D. Cruise, President
Contact Information:
Steve Stakiw, Manager - Corporate Communications
Email:
sstakiw@trevali.com
Phone: (604) 488-1661 / Direct: (604) 638-5623
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 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.
The TSX has not approved or disapproved of the contents of this
news release.
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