Trevali Extends Size and Grades of Newly Discovered Rosa Zone at Santander Zinc-Lead-Silver Mine in Peru
October 29 2013 - 8:32AM
Marketwired Canada
Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) announces that recent
underground development at the Rosa Zone (in the Magistral North Deposit of the
Santander Mine in Peru) has provided further information on the geometry,
dimensions and base metal-silver grades of the Rosa Zone.
Due to the highly-encouraging drilling results (see News Release TV-NR-13-23,
October 8, 2013) and given its proximity to the main Magistral North underground
ramp, the Rosa Zone has been developed on four sub-levels in preparation for
mining. All drifts have encountered massive-sulphide base metal replacement
mineralization (Figure 1). Based on underground drift cuts and drill hole
intercepts, the dimensions of Rosa Zone is currently estimated to be
approximately 70 metres in length (along strike), 3-to-15 metres in width and
extends at least 100 metres from surface along plunge. The results suggest that
there is a trend of increasing grades and thickness of mineralization with
depth. It remains open for expansion and underground drilling targeting the
deeper portion (below the 4510 level) of Rosa Zone is in progress.
Underground channel sample assays are listed below in Table 1. A 3D plan view
showing the location of underground, drill holes and mineralized zone is shown
in Figure 2.
"The style, intensity, persistence and high silver-lead grades encountered in
both drilling and underground development to date suggest that the Rosa Zone has
the potential for significant expansion potential at depth," stated Dr. Mark
Cruise, Trevali's President and CEO. "Given the characteristics of the overall
Santander mineral system, similar high-grade structural-replacement zones may be
anticipated to be present in the Magistral Central and South deposits."
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/TV-1029-fig1.pdf
Table 1: Summary of Underground Channel Samples Assay Results, Rosa Zone,
Santander Mine in Peru
Note: Channel samples are cut perpendicular to the strike of mineralized
zone and therefore reported intervals represent the horizontal width of base
metal mineralization exposed in the drift (drift's width is approx. 5
metres).
----------------------------------------------------------------------------
Level / Sample Channel
Sub-level Width Location in
(SL) Channel ID (metres) Ag oz/ton (g/tonne) % Pb % Zn Rosa Zone
----------------------------------------------------------------------------
4580 / SL4 4580-C-9 2.62 1.15 (39.50) 2.80 4.33 Rosa East
4580-C-12 4.31 2.13 (73.09) 2.52 3.13 Rosa East
----------------------------------------------------------------------------
4580 / SL3 4580-C-10 3.96 4.84 (166.09) 4.66 6.38 Rosa Central
4580-C-13 4.38 3.07 (105.13) 8.39 7.77 Rosa Central
----------------------------------------------------------------------------
4580 / SL2 4580-C-5 4.02 1.24 (42.30) 4.28 4.24 Rosa West
4580-C-6 5.58 4.76 (163.29) 5.84 8.13 Rosa West
----------------------------------------------------------------------------
4580 / SL1 4580-C-10 4.22 5.90 (202.48) 4.09 4.54 Rosa East
4580-C-12 4.16 5.80 (198.75) 9.11 9.43 Rosa East
----------------------------------------------------------------------------
4510 / SL4 4510-C-13 4.41 3.60 (123.48) 5.45 6.37 Rosa Central
4510-C-16 4.87 5.37 (184.13) 5.30 5.77 Rosa Central
----------------------------------------------------------------------------
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/TV-1029-fig2.pdf
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. Ms. Rusk is responsible
for all aspects of the work, including the quality control/quality assurance
programs. 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. Channel samples were processed and assayed in the
Santander mine onsite laboratory. Zinc, lead, silver, copper and iron assays
were obtained by Aqua-Regia dissolution followed by Atomic Absorption
measurement. Values of lead and zinc over 15% are assayed by volumetric method.
Analytical accuracy and precision are monitored by the analysis of reagent
blanks, reference material and replicate samples. Quality control is further
assured by the use of international and in-house standards. Blind certified
reference material is inserted at regular intervals into the sample sequence by
Trevali personnel in order to independently assess analytical accuracy. The
onsite laboratory is outsourced and managed by SGS-Peru personnel. SGS-Peru's
quality system complies with the requirements for the International Standards
ISO 9001:2000 and ISO 17025: 1999. Finally, representative blind duplicate
samples are routinely forwarded to an ISO compliant third party laboratory for
external quality control.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Trevali Mining Corporation
Steve Stakiw, Vice President, Investor Relations
and Corporate Communications
(604) 488-1661 / Direct: (604) 638-5623
(604) 408-7499 (FAX)
sstakiw@trevali.com
www.trevali.com
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