Trevali Mining Corporation ("Trevali" or the "Company")
(TSX:TV)(TSX:TV.WT)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) is pleased
to provide a development update for its Santander Zinc-Lead-Silver
Mine in west-central Peru. Trevali Peru currently has approximately
600 construction workers and miners on site, and project
development is advancing accordingly. All major mine and mineral
processing items are on schedule and the Company presently remains
on track for commissioning in late Q3-2012.
SITE INFRASTRUCTURE
All core site infrastructure is essentially complete and fully
operational - accommodation units, both catering facilities and
various mine planning and site offices. Construction and
commissioning of the project's 65-kilometre power-line is nearing
completion and it is estimated that the site will be connected to
the Peruvian power grid in late June - early July.
PROCESSING PLANT
Merit Consultants International Inc. is supervising construction
of the 2,000 tonne-per-day (tpd) Processing Plant by Cempro Tech
S.A., a Lima based specialist construction firm, on behalf of the
Santander Project Development Team (a joint development between
Trevali and Glencore International).
Glencore's mill is fully decommissioned and all equipment is
on-site and ready for installation, including specific new
components. Plant construction is advancing well - all foundations
are poured and cured, the majority of rebar and framework is in
place and various structural components and building fabrication
are presently being assembled (mill circuits, flotation building,
zinc and lead thickeners and concentrate storage warehouses)
(Figure 1).
UNDERGROUND DEVELOPMENT
The Company's mining contractors, JRC Ingenieros, mobilized to
site approximately 3 weeks ago. All key underground service and
support facilities are in place, namely water, air, underground
offices and training rooms, lamp-room, various explosive magazines
and equipment shops. Development of the 5-metre-by-4-metre
underground access ramp has commenced and progress to date is
excellent (Figure 2).
To view Figure 1: Construction of the Santander Mill and
concentrate production buildings and Figure 2: Portal development
at Santander Mine, please visit the following link:
http://media3.marketwire.com/docs/800217_figures.pdf.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused base metals producer with operations
in Canada and Peru - the Halfmile and Santander mines respectively.
In Canada, Trevali owns the Halfmile zinc-lead-silver mine and
Stratmat polymetallic deposit, and has entered into a definitive
agreement to acquire the Caribou Mine and Mill, all located in the
Bathurst Mining Camp of northern New Brunswick. The Company also
has the past-producing Ruttan copper-zinc mine in northern
Manitoba. Production from the Halfmile mine commenced in early 2012
and is ramping up to the planned production rate of
2,000-tonnes-per-day.
In Peru, the Company has the Santander zinc-lead-silver mine and
the former-producing Huampar silver mine, both located in the
Central Peruvian Polymetallic Belt. Mine commissioning is
anticipated to commence at the Santander operation in late-2012
with ramp up to full 2,000-tonnes-per-day production to follow
shortly thereafter. Additionally through its wholly-owned
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 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 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 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 Manager -
Corporate Communications (604) 488-1661 / Direct: (604)
638-5623sstakiw@trevali.com www.trevali.com
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