Trevali Continues to Define High-Grade Mineralization on Santander Pipe Zone in Peru 7.1 metres at 4.0 oz/T Silver (135.9 g/t) and 14.2% Zinc, 9.5 metres at 1.2 oz/T Silver (41.4 g/t), 8.9% Zinc and 0.6% Copper
7.1 metres at 4.0 oz/T Silver (135.9 g/t) and 14.2% Zinc, 9.5 metres at 1.2 oz/T Silver (41.4 g/t), 8.9% Zinc and 0.6% Copper
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/21/11 -- Trevali Mining Corporation ('Trevali' or the 'Company') (TSX: TV)(OTCQX: TREVF)(BVLAC: TV) is pleased to announce that drilling continues to intersect multiple zones of high-grade polymetallic mineralization within the Santander Pipe Zone, one of several high priority targets defined to date on the large, 44-square-kilometre Santander Zinc-Lead-Silver Mine Development Project in Peru. Drill-holes SAN-168 and SAN-169 intersected broad zones of silver, zinc and copper mineralization within which higher grade intervals occur.
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Down
hole
Zone / Borehole Depth From - To Interval Ag g/t-
(dip / azimuth) (metres) (i) (oz/T) Pb % Zn % Cu %
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Santander Pipe 258.8-285.65 26.85 m 24.0-(0.7) 0.30 0.83 0.11
SAN-168 -----------------------------------------------------------
(-42 degrees/ Inc. 258.8-267.0 8.20 m 35.2-(1.0) 0.34 1.46 0.23
165.9 degrees) -----------------------------------------------------------
Inc. 273.2-285.65 12.45 m 26.6-(0.8) 0.36 0.73 0.08
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338.45-346.15 7.70 m 2.6-(0.08) - 5.23 0.03
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Santander Pipe Tot. 300.8-410.3 108 m 32.5-(0.95) 0.23 2.73 0.16
SAN-169 -----------------------------------------------------------
(-42 degrees/ 300.8-307.9 7.1 m 135.9-(4.0) 0.74 14.15 0.02
135.5 degrees) -----------------------------------------------------------
331.8-363.8 32 m 54.8-(1.6) 0.52 2.33 0.21
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370.55-380.05 9.5 m 41.4-(1.2) 0.10 8.88 0.64
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396.65-408.8 12.15 m 22.3-(0.65) 0.07 2.72 0.29
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Table 1 - Summary drill hole assay results - Santander Pipe;
(i) true width is estimated at approximately 80-85% of reported interval
TARGET SUMMARY
Detailed 3-D geological reconstruction and production reconciliation studies of the historic Santander Pipe indicated the potential for the mid-portions of the mineralized structure to host a significant polymetallic resource conservatively estimated to be on the order of 3-to-plus-5 million tonnes (Fig. 1). To date all three holes have intersected significant mineralization over mineable widths - the first hole, SAN-166 intersected 11.25 metres returning 2.8 oz/T (94.9 g/t) silver, 7.24% zinc and 0.49% lead (see News Release TV-NR-11-04 for details). The most recent drill-holes, SAN-168 and SAN-169, the second and third drill holes respectively testing the Pipe continue to strongly validate Trevali's exploration model.
Mineralization in the upper portion of the Pipe, from 0-to-230-metres below ground surface (bgs), is hosted within the Jumasha and Pariatambo Formation limestones.
Sulphide mineralization in the lower half of the Pipe (230-to-440-metres bgs) occurs within limestones of the Chulec Formation (host to Trevali's recently discovered Magistral deposits) as manto replacement bodies between 5-to-25 metres thick and thus represents very attractive targets capable of rapidly adding significant tonnages.
SAN-168 intersected mineralization over mineable widths in the historic ore body from approximately 160-to-240-metres vertically below ground surface largely within the Pariatambo formation which is a relatively poor host rock (shaley tight non-reactive unit).
Conversely the deeper hole SAN-169 intersected a broad zone of mineralization dominantly within the favorable Chulec Formation (clean, reactive limestones) where the historic ore body is transitioning from an annular ring to tabular replacement mantos (Figure 1 and Table 1).
To view Figure 1 please visit the following link: http://media3.marketwire.com/docs/trevfig1.pdf
The Company is presently examining the feasibility of rehabilitating the uppermost historic mine workings in order to facilitate access for a larger resource expansion drill program.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and a qualified person as defined by National Instrument 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 and shareholder.
The work programs at Santander were designed by, and are supervised by, Tim Kingsley (Senior Geologist) and Mark D. Cruise, President & CEO, Trevali and who together are responsible for all aspects of the work, including the quality control/quality assurance programs. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Vancouver, for assay. ACME's 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 ACME and an ISO compliant third party laboratory for additional quality control.
ABOUT TREVALI MINING CORPORATION
Trevali is advancing two polymetallic deposits to production in Canada and Peru - the Halfmile and Santander projects respectively. In Canada, Trevali has the Halfmile and Stratmat polymetallic deposits near Bathurst, New Brunswick, and the Ruttan copper-zinc deposit in northern Manitoba. Mine development is underway at Halfmile with a proposed production at a rate of 2,000-tonnes-per-day anticipated to commence in 2011. In Peru, the Company has the Santander zinc-lead-silver mine project and the Huampar silver mine both located in the Central Peruvian Polymetallic Belt.
At Santander, in conjunction with Glencore International A.G., mine commissioning and production is anticipated to commence at 2,000-tonne-per-day in late 2011 with full production to follow immediately thereafter. Additionally through its 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 currently 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, 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.
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
(604) 408-7499 (FAX)
sstakiw@trevali.com
www.trevali.com