Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) 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:
CRUSHING
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).
MILL
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.
FLOTATION
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).
COMPRESSORS
All three compressors and flotation blowers are in place with
building cladding currently underway.
CONCENTRATE STORAGE
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.
POWER
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.
UNDERGROUND DEVELOPMENT
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.
UPCOMING EVENTS
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.
The TSX has not approved or disapproved of the contents of this
news release.
Contacts: Trevali Mining Corporation Steve Stakiw VP, 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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