Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces
that construction at its Santander Zinc-Lead-Silver Mine in
west-central Peru is progressing well and commissioning is
anticipated in the fourth quarter.
SITE INFRASTRUCTURE
All core site infrastructure is now complete and fully
operational - accommodation units, catering facilities and various
mine planning and site offices. Construction and commissioning of
the project's 65-kilometre power-line is nearing completion and the
minesite will be connected to the Peruvian power grid prior to
commissioning.
PROCESSING PLANT
Merit Consultants International Inc. continues to supervise
construction of the 2,000 tonne-per-day (tpd) Processing Plant by
Cempro Tech S.A., a Lima based specialist construction firm, on
behalf of the Santander Project Development Team (a joint
development between Trevali and Glencore International).
Construction of the Plant is progressing: the mills are
installed, the flotation building erected and the flotation cells
are installed, crusher and zinc and lead thickener foundations
completed, new steel for mill and crusher buildings is on site and
is being erected and the crushers are being installed, tailings dam
sealing is ongoing and mineral stockpile preparation is advanced
(Figure 1).
UNDERGROUND DEVELOPMENT
The Company's mining contractors, JRC Ingenieros, have been
actively advancing underground development on the three Magistral
deposits with three crews fully staffed and equipped. All key
underground service and support facilities are in place, namely
water, air, underground offices and training rooms, lamp-room,
various explosive magazines and equipment shops (Figures 2 and
3).
Based on current development schedules it is anticipated that
approximately 95,000 tonnes of mineralized material grading 5.61%
Zn, 0.65% Pb and 1.65 oz/t Ag will be stockpiled and available for
mill commissioning.
To view Figures 1 to 3, visit the following link:
http://media3.marketwire.com/docs/Trevali_Figures1to3.pdf
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals developer with operations
in Canada and Peru - the Halfmile and Santander mines respectively.
In Canada, Trevali owns the Halfmile zinc-lead-silver mine and
Stratmat polymetallic deposit, and has entered into a definitive
agreement to acquire the Caribou Mine and Mill, all located in the
Bathurst Mining Camp of northern New Brunswick. The Company also
has the past-producing Ruttan copper-zinc mine in northern
Manitoba. Initial production from the Halfmile mine commenced in
early 2012 and development is ramping up to achieve a planned
production rate of approximately 3,000-tonnes-per-day to feed
planned operations at the Company's Caribou Mill Complex (subject
to closure of its acquisition).
In Peru, the Company has the Santander zinc-lead-silver mine 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 late-2012
with ramp up to full 2,000-tonnes-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.
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 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.
Contacts: Trevali Mining Corporation Steve Stakiw Manager -
Corporate Communications (604) 488-1661 / Direct: (604)
638-5623sstakiw@trevali.com www.trevali.com
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