VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 1, 2013) - Trevali Mining Corporation ("Trevali" or the "Company") (TV.TO)(TSX:TV.WT)(TREVF)(TV.TO)(4TI.F) provides a construction update on its 2,000-tonne-per-day Santander Zinc-Lead-Silver mine in Peru. Construction is very advanced in all areas and soft commissioning and testing of various circuits and components is ongoing. Trevali and development partner Glencore International anticipate commissioning to commence in late-March with subsequent ramp-up to commercial production to follow thereafter.
A summary of key areas is as follows:
The approximately 60,000-tonne-capacity coarse feed storage area is complete. The primary crushing area - jaw crusher and grizzly are installed. The secondary and tertiary crushing - vibrating screens and crushers are installed. Service crane installation is scheduled for early March. Grating and handrails are approx. 90% complete and painting details are ongoing. The feed transfer tower to the fine feed bin is completed and conveyors are advanced. Installation of the cabin for the rock-breaker is outstanding and will occur over the upcoming weeks.
FINE FEED BIN
Fine Feed Bin construction is approx. 99% complete with approx. 1,200-tonne capacity (Figure 1).
All four mills (rod-ball combination) are in place and aligned. Classifiers / Cyclones are in place and cladding of the building is in progress. A twenty-tonne maintenance crane is installed and commissioned.
Reagent tanks are installed. All flotation cells, zinc and lead (silver), are in place. Various pumps and pump boxes are in place and installation is in progress. Piping is predominantly complete. The maintenance crane installed and fully commissioned (Figure 1).
All three compressors and flotation blowers are in place with building cladding currently underway.
Lead and zinc thickeners are complete. Zinc storage is complete - lighting installed - installing fixtures (Figure 1). Construction crews are presently focusing on the Lead concentrate storage area. There will be an estimated one-months concentrate storage capacity in both areas.
TAILINGS MANAGEMENT FACILITY
Tailings and reclaim pipelines are complete. The tailings basin (a closed system) is complete and is fully lined with impervious geo-membrane. Thickener construction is advancing.
The approx. 67-kilometer Santander - National Grid transmission line was energized on February 13th with operations currently transferring over to grid power as various components and sub-stations are completed (Figure 2). Underground development is now running on grid power.
The main electrical sub-station has been completed and is fully commissioned - presently finalizing various electrical sub-stations on site (Figure 2).
Majority of cable trays are installed and cable pulling is in progress. Approx. 60 additional electricians are mobilizing to site to finalize wiring now that physical installation of large equipment is essentially complete.
Pre-production underground development is progressing with a primary focus on the Magistral North and Central Zones. There are currently four levels of development complete on Magistral North and two on Magistral Central (Figure 3).
Ongoing Footwall development and associated underground mapping in the Magistral North zone has exposed several potentially significant replacement and vein zones that were partially intersected but poorly defined by previous exploration drilling.
These zones, termed Tortillitas - Manto 1 to 3, are currently traceable over 70-metres strike and approximately 60-to-80-metres vertically, and remain open. In the uppermost levels they are relatively narrow averaging approximately 1.2-to-1.4-metres thick however by level 4, the deepest development level to date, based on exposure, widths are increasing to 4-to-5 metres. A continuous channel sample of one such zone returned 4.46 metres at 4.76% zinc, 3.96% lead and 2.98 oz/t silver - please see News Release TV-NR-12-31 dated November 27th, 2012 for details. Future underground definition drilling will attempt to better define such zones for potential inclusion in the Santander mine plan.
There are currently 107,000 tonnes of mineralized material grading 5.19% Zn, 0.99% Pb, 0.28% Cu & 1.46 oz/t Ag stockpiled for plant commissioning and production ramp-up. The first production Simba (long-hole production drill) is scheduled to mobilize to site in the first week of March.
To view Figures 1-3, please visit the following link: http://media3.marketwire.com/docs/tv301_F1-3.pdf.
Trevali is attending the 2013 Prospectors and Developers Association of Canada (PDAC) International Convention and Investors Exchange in Toronto, March 3-6, 2013, at the Metro Toronto Convention Centre, South Building. Additionally, the Company is also participating in PDAC''s Core Shack program on March 3-4 on Level 700 of the Convention Centre.
The Company invites current and prospective shareholders to meet and speak with members of its Executive Team at Investors Exchange booth No. 2927 (March 3-6) and its Senior Geology Team at Core Shack booth No. 5024 (March 3-4) where samples of drill core from all its advanced stage projects will be available for review.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals development company with active operations in Canada and Peru.
In Peru, the Company is nearing production at its Santander zinc-lead-silver mine where commissioning is scheduled to commence in late Q1-2013 with subsequent ramp up to full 2,000-tonnes-per-day production.
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 mine was successfully undertaken in 2012 and the Company anticipates commencing operations at its 3,000-tonne-per-day Caribou Mill Complex in late-2013.
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). 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 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, 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.