Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)
(TSX:TV.WT) (OTCQX:TREVF) (LMA:TV) (FRANKFURT:4TI) announces that
processing plant commissioning, and zinc and lead-silver
concentrate production from its Santander Mine in Peru, is
progressing well. Concentrate inventories are accumulating with
initial shipments scheduled this month.
Since the announcement of production commencement at Santander
in mid-August (see news release TV-NR-13-19) the Company has seen
mill performance and commissioning ramp-up steadily improve from
approx. 500 to 1,500-1,600 tonnes-per-day, about 75% of its
nameplate 2,000-tonne-per-day capacity.
The metallurgical recovery circuits are also seeing steady
improvements as the reagent/flotation process gets balanced through
the ramp-up process. During the month of August the processing
plant was processing very low-grade material as the operators
familiarized themselves with the plant. The Santander team is
steadily increasing mineral head-grades in addition to optimizing
mill feed towards anticipated nameplate hard-rock/stockpile
production levels. Recoveries to date are essentially directionally
proportional to mineral feed grades, that is, higher grades result
in higher recoveries.
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Tonnes processed to date (approx.): 35,000 tonnes
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Zinc concentrate produced to date (approx.): 1,200 tonnes
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Average zinc concentrate grade: 49% Zn
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Lead-silver concentrate produced to date (approx.): 300 tonnes
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Average lead-silver concentrate grade: 49% Pb, 47 oz/T Ag
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Period Zinc recovery Lead recovery Silver recovery
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Since start-up 73% 78% 58%
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(i)September-to-date 77% 79% 64%
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Note: Reported production is preliminary in nature and subject to regular
and ongoing reconciliation studies.
(i) September average feed grades to date: 3.5% Zn, 0.8% Pb and 0.9 oz/T Ag
Now that sufficient initial mineral processing and concentrate
data has been acquired, Trevali's consulting metallurgist will be
on-site in September in order to help further optimize Plant
operations and recoveries. It is also anticipated that comissioning
later in the month of the OAS / Courier system (a real-time Plant
geochemical analysis system) should also have an additional
positive effect on mineral recoveries.
The Company currently has approx. 160,000 tonnes of mineralized
material stockpile grading 4.9% Zn, 1.2% Pb, 0.22% Cu and 1.5 oz/T
Ag at its crusher pad that is feeding the mill.
"We are very encouraged with the excellent progress being
achieved in the Santander Mill commissioning, which is a testament
to the dedication and skill set of the operations team," stated
Trevali President and CEO Dr. Mark Cruise. "With significant
concentrate inventory now in our on-site warehouse facilities, our
maiden concentrate shipments are scheduled to commence later in the
month."
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, a
qualified person as defined by NI 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, director and shareholder.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals mining company with
operations in Canada and Peru.
In Peru, the Company has commenced commissioning and concentrate
production at its Santander zinc-lead-silver mine and metallurgical
plant with subsequent ramp up to 2,000-tonnes-per-day production
scheduled in Q4-2013.
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 2014.
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). Certain 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 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.
Contacts: Trevali Mining Corporation Steve Stakiw, Vice
President, Investor Relations and Corporate Communications (604)
488-1661 / Direct: (604) 638-5623sstakiw@trevali.com
www.trevali.com
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