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Highlights include 79-metre massive sulphide horizon returning 52.3-metre interval of 1.05% Cu and 0.27 g/t Au including 10 metres at 2.48% Cu and 0.54 g/t Au
Vancouver, British Columbia…Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) reports drill results from its Stratmat Polymetallic Deposit in the Bathurst Mining Camp of New Brunswick, Canada where exploration drilling has intersected significant massive sulphides in a newly discovered copper-gold rich zone (Figures 1 and 2).
The new zone is situated between the S1 and Main Zones where there is limited historic diamond drilling. The target was identified from a compilation of historic data coupled with ongoing exploration efforts on the property, principally 3D geological modelling and borehole geophysics. The new zone remains open for expansion and has potential for substantial size and grade. All of the new drill intercepts are outside of the currently defined NI 43-101 inferred resource of 5.5 million tonnes grading 6.1% zinc, 2.6% lead, 0.4% copper, 54 g/T silver and 0.6 g/T gold.
“The fact that after approximately 50-years of property-wide exploration the Trevali exploration team, using the latest exploration technology, can model, predict, target and discover significant new blind massive sulphide mineralization is highly encouraging and bodes well for ongoing future discoveries at Stratmat and within the Bathurst Mining Camp,” stated Dr. Mark Cruise, Trevali’s President and CEO. “While our focus and efforts are firmly concentrated on near-term re-start of mining operations at our 3,000 tonne-per-day Caribou Zinc Mine, new discoveries and expansion of our resource base will remain a key driver in our goal to grow the Company’s presence in the region.”
|Borehole / (Zone)||From – To (m)||Interval (m)||Zn (%)||Pb (%)||Cu (%)||Ag (g/t)||Au (g/t)|
|ST-763 (New Zone)||465.80 – 470.80||5.00||3.70||1.10||0.31||34.53||1.21|
|485.20 – 500.60||15.40||0.13||ND||1.14||7.65||0.39|
|Incl.||486.88 – 494.50||7.62||0.17||ND||1.89||11.96||0.61|
|506.06 – 506.75||0.69||3.66||1.80||1.94||97.50||2.05|
|ST-764 (Main Zone)||127.56 – 151.36||23.80||3.08||0.66||0.45||21.49||0.48|
|Incl.||128.56 – 137.56||9.00||2.71||0.92||0.73||35.40||0.73|
|Incl.||128.56 – 130.56||2.00||9.70||3.87||0.29||122.95||1.11|
|Incl.||138.56 – 148.09||9.53||4.40||0.70||0.19||14.56||0.30|
|ST-765 & ST-766 (Exploration) – No significant intercept|
|ST-767 to ST-769 (North and S1 Zones) – Results Pending|
|ST-770 (New Zone)||482.20 – 561.40||79.20||0.04||0.01||0.88||4.26||0.21|
|Incl.||482.20 – 534.50||52.30||0.05||0.02||1.05||5.47||0.27|
|Incl.||516.42 – 532.85||16.43||0.08||0.03||1.85||8.59||0.46|
|Incl.||520.50 – 530.50||10.00||0.10||0.04||2.48||10.92||0.54|
|Length and Specific gravity weighted composites. True width is estimated to be approximately 70-90% of reported interval.|
Table 1: Summary of Stratmat assay results
To date seven drill holes have tested the new zone and have intersected semi-massive to massive sulphide intervals with core length intercepts ranging from sub-metre to 79.2 metres. Geologically the new zone is located close to the Main Zone, approximately 200 metres to the southwest, starting at a depth of approximately 360 metres below surface (Figure 2).
The discovery hole, ST-763, collared to target a geophysical anomaly (downhole electro-magnetics), intersected predominantly copper-rich sulphide horizons ranging from sub-metre to 15.4 metres wide. Step-out drill hole ST-770 intersected a 79.2-metre wide copper-rich sulphide horizon within which higher grade intervals occur (Table 1). Follow-up drill holes ST-776 and ST-779 suggests the zone thins to the south-west and current drilling is targeting the eastward extents towards the Main Zone. Assay results are pending.
The style of mineralization in ST-763 is similar to the “copper vent proximal” mineralization observed in the Main Zone and may be indicative of the potential presence of spatially related zinc-lead-silver mineralization. There is limited historic drilling between the Main Zone and the S1 zone, where the bulk of the currently defined resource is hosted leaving excellent expansion potential (Figures 1 and 2).
Figure 1: Stratmat Property map showing surface expression of mineralized zones and latest drill holes
Figure 2: 3D long section view of the Stratmat Deposits looking N315°
Trevali’s New Brunswick exploration team is currently defining the extents of this new zone at Stratmat, as well as identifying new opportunities through property wide reconnaissance, compilations, and investigations.
The Stratmat drilling and ongoing technical programs form a portion the study and review process into potential longer-term Bathurst Mining Camp plans, including the possibility for a second stand-alone milling facility to support development of the Company’s fully-permitted Halfmile Mine and the Stratmat Deposit.
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. 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. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories (ACME) preparation facility in Val D’Or, Quebec for crushing and splitting and coarse rejects were assayed at ACME in Vancouver, BC. ACME quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. 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. Finally, representative blind duplicate samples are routinely forwarded to an ISO compliant third party laboratory for additional quality control.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals mining company with one producing operation currently in Peru and an advanced-stage mine under development in Canada.
In Peru, the Company is actively producing zinc and lead-silver concentrates from its Santander mine and 2,000-tonne-per-day metallurgical plant.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The Company is currently advancing its 3,000-tonne-per-day Caribou Mill Complex and mine towards scheduled 2015 production.
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). 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” (signed)
Mark D. Cruise, President
Vice President, Investor Relations and Corporate Communications
Email: [email protected]
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 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.
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