Trevali Mining Provides Murray Brook Project Update
VANCOUVER, British Columbia, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV, BVL: TV; OTCQX: TREVF, Frankfurt: 4TI) provides an update on the Murray Brook Project located approximately 10 km west of the Caribou Mill complex in the Bathurst Mining Camp, New Brunswick, Canada.
In conjunction with joint venture partner Puma Exploration Inc. (“Puma”) a seven hole, 1,700-metre geotechnical and metallurgical drill program was undertaken to provide material for ongoing mine design and planning purposes. Drilling targeted a variety of mineral domains to provide representative sample suites from the deposit, including the copper zone (see Table 1 and Figure 1). Metallurgical recovery testing is in process at RPC in Fredericton, New Brunswick with results anticipated in October.
Drilling confirmed good to excellent mineral continuity and significant zinc, lead and copper grades were returned over wide intervals, with highlights including:
- MB18-01 intersecting 36.6 metres grading 1.4% Cu (including a 9-metre interval of 4.0% Cu);
- MB18-02 intersecting 19.0 metres averaging 2.1% Cu (including a 5-metre interval of 4.3% Cu);
- MB18-03 intersecting 24.0 metres of 2.5% Cu (including a 6-metre interval of 4.0% Cu);
- MB18-05 intersected 120.9 metres grading 6.1% Zn and 2.1% Pb (including a 27-metre interval of 13.1% Zn and 4.8% Pb); and
- MB18-07 intersected 87.1 metres averaging 6.9% Zn and 2.4% Pb (including a 21-metre interval of 10.2% Zn and 3.1% Pb)
“These drill results illustrate the continuity and the high-grade core of the Murray Brook deposit and will feed into ongoing geotechnical/metallurgical studies and mine development plans,” stated Dr. Mark Cruise, Trevali’s President and CEO. “Murray Brook, given its proximity to our Caribou operations, is an important component of our Bathurst Mining Camp life-of-mill strategy whereby we look to leverage our existing processing complex to facilitate long-term production in the region.”
|DDH #||From (m)||To (m)||Length (m)||Zn (%)||Pb (%)||Cu (%)||Ag (g/t)|
Table 1: Murray Brook drill results. True thickness ranges from 70-90% of the core intervals.
MURRAY BROOK PROJECT
Trevali has an option to acquire up to a 75% interest in the Murray Brook Project by providing $7.5 million in financing for Puma to complete its acquisition of a 100% interest in the project (see March 2, 2018 Trevali news release for details). The Murray Brook deposit is located 10 kilometres west of the Caribou Mill and 10 kilometres east of the Restigouche Deposit along the Caribou ore horizon.
The deposit has a measured mineral resource of 3.68 million tonnes grading 5.57% Zn, 1.87% Pb, 0.36% Cu, 70.5 g/t Ag and 0.56 g/t Au, plus indicated mineral resources of 1.60 million tonnes grading 4.48% Zn, 1.63% Pb, 0.70% Cu, 65.3 g/t Ag and 0.88 g/t Au (for a combined measured and indicated resource of 5.28 million tonnes averaging 5.24% Zn, 1.80% Pb, 0.46% Cu, 68.9 g/t Ag and 0.65 g/t Au containing approximately 610 million pounds of zinc, 209 million pounds of lead and 11.7 million ounces of silver) as of December 21, 2016.
The core of the mineral resource occurs in the West Zone (zinc-lead dominant) which is approximately 200 metres wide, extending from surface to approximately 300 metres vertical; the true thickness of the massive sulphide body varies from 75 metres to 100 metres. The East Zone (copper-gold dominant) is approximately 100 metres wide, also extending from surface to approximately 300 vertical metres. On February 20, 2017, Puma filed on SEDAR a technical report entitled “Amended and Restated Technical Report and Updated Mineral Resource Estimate on the Murray Brook Project”.
In conjunction with Puma, Trevali plans to advance the Murray Brook deposit to a production decision in a timely but disciplined manner.
Qualified Person and Quality Control/Quality Assurance
Daniel Marinov, P.Geo, Trevali’s VP Exploration, is a qualified person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Marinov is responsible for all aspects of the work, including the quality control/quality assurance programs. Mr. Marinov is not independent of the Company as he is an officer and shareholder.
All sampling, drilling, testing and analysis are conducted using rigorous QA/QC procedures to ensure reliability and validity of results beyond basic regulatory guidelines. Samples are shipped, stored and assayed at the Caribou mine site lab. The samples are crushed, split and pulverized at a range of 80 to 100 microns. The crusher and pulverizer are cleaned with pressurized air between each sample. Zinc, lead, copper and silver assays were obtained by four acid Aqua-Regia dissolution followed by Atomic Absorption measurements. Values of zinc over 10% are assayed by volumetric method. For QA/QC, there are typically 8 standards run with a batch of 25. A duplicate is done at least once every 50 samples, no blanks are run. Analytical accuracy and precision are monitored by the analysis of lab reagent blanks, reference material and replicate samples. Pulps are currently stored in the lab in labelled brown sealed bags which in turn are stored in organized labelled boxes. Coarse rejects are stored in labelled 18-litre pails on pallets inside the Alliance warehouse.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals company with four mines: the wholly-owned Santander mine in Peru, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick, the 90% owned Rosh Pinah mine in Namibia and the 90% owned Perkoa mine in Burkina Faso.
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.
On Behalf of the Board of Directors of
TREVALI MINING CORPORATION
“Mark D. Cruise” (signed)
Mark D. Cruise, President
Steve Stakiw, Vice President - Investor Relations and Corporate Communications
Phone: (604) 488-1661 / Direct: (604) 638-5623
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the Canadian securities legislation and “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended, the United States Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission, all as may be amended from time. 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. Such forward-looking statements and information include, but are not limited to statements as to: the timing and amount of estimated future production; the estimation of mineral resources and mineral reserves; costs and timing of development; operating efficiencies, including the ability to manage water while reducing power consumption, costs and expenditures; expectations regarding milling operations and metal production shortfalls; metal output and throughput rates; cost guidance and anticipated annual results; anticipated results of future exploration; and forecast future metal prices.
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. If any assumptions are untrue, it could cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such statements. Assumptions have been made regarding, among other things, present and future business strategies and the environment in which the Company will operate in the future, including commodity prices, anticipated costs and ability to achieve goals.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to joint venture operations; 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; 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, Namibia, Burkina Faso, 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 Resources 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, as well as other risks as more fully described in the Company’s annual information form for the year ended December 31, 2017, which is available on the Company’s website (www.trevali.com) and filed under our profile on SEDAR (www.sedar.com). 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.
Note to United States Investors
In accordance with applicable Canadian securities regulatory requirements, all mineral resource estimates of the Company disclosed or incorporated by reference in this news release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects, classified in accordance with Canadian Institute of Mining Metallurgy and Petroleum's “CIM Standards on Mineral Resources and Reserves Definitions and Guidelines”.
The Company uses the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized by Canadian securities regulatory authorities, they are not recognized by the United States Securities and Exchange Commission. US investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into reserves.