VANCOUVER, BC, March 30, 2021 /CNW/ - Trevali Mining
Corporation ("Trevali" or the "Company") (TSX: TV) (BVL:
TV) (OTCQX: TREVF) (Frankfurt: 4TI) is pleased to
announce the Caribou mine located 50 kilometres west of
Bathurst New Brunswick, in
Canada has trucked its first ore
concentrate on March 30th,
2021 since announcing the planned restart of operations on
January 15, 2021
On February 10, 2021, Trevali
restarted operations at the Caribou mine, which had been on care
and maintenance since March 2020.
Since reopening, rehabilitation of the main ramp, underground
operating levels and access ways has been completed. Additionally,
testing of surface infrastructure, including the mill, was
successfully completed.
The first ore was brought to surface and delivered to the
stockpile on March 6, 2021. The
mill's first twenty-four-hour production period without
interruption took place on March 25th,
2021. The Caribou operations team plans to process 2,600 to
2,800 tonnes of ore per day for the remainder of 2021 representing
60-65 million pounds of zinc and shipping concentrate at regular
intervals throughout the year.
Ricus Grimbeek, President & CEO, noted, " I am proud of the
Caribou team for all the work they have put into restarting the
mine. The team moved quickly to staff up the operation over the
last couple months and get the mine, mill, and other systems and
infrastructure into good working order. With this first truckload
of concentrate leaving the site, we have achieved a major milestone
safely and on schedule. I look forward to the continued safe
ramp-up of operations. Thanks to everyone on the team and in the
community for their efforts in making this a continuing
success."
ABOUT TREVALI
Trevali is a global base-metals mining Company headquartered
in Vancouver, Canada. The
bulk of Trevali's revenue is generated from base-metals mining at
its four operational assets: the 90%-owned Perkoa Mine
in Burkina Faso, the 90%-owned Rosh Pinah Mine
in Namibia, the wholly-owned Caribou Mine in northern New
Brunswick, Canada and the wholly-owned Santander Mine
in Peru. In addition, Trevali owns the Halfmile and Stratmat
Properties and the Restigouche Deposit in New Brunswick,
Canada, and the past-producing
Ruttan Mine in northern Manitoba, Canada. Trevali also owns an effective
44%-interest in the Gergarub Project in Namibia, as well as an
option to acquire a 100% interest in the Heath Steele deposit
located in New Brunswick, Canada.
The shares of Trevali are listed on the TSX (symbol TV), the
OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the
Frankfurt Exchange (symbol 4TI). 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.
Cautionary Note Regarding Forward–Looking Information and
Statements
This news release contains "forward–looking information" within
the meaning of Canadian securities legislation and "forward–looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively,
"forward–looking statements"). Forward–looking statements are based
on the beliefs, expectations and opinions of management of the
Company as of the date the statements are published, and the
Company assumes no obligation to update any forward–looking
statement, except as required by law. . In certain cases,
forward–looking statements can be identified by the use of words
such as "plans", "expects", "outlook", "guidance", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", "will be taken", "occur" or "be achieved" or the negative
of these terms or comparable terminology. Forward–looking
statements relate to future events or future performance and
reflect management's expectations or beliefs regarding future
events including, but not limited to, statements with respect to
the resumption of operations at Caribou, including the anticipated
costs associated therewith and expectations regarding the timing
and volumes of mining, production and delivery of concentrate from
the mine, the Company's growth strategies and planned development
activities, the timing and amounts of estimated future production,
hedging activities, success of mining activities, environmental
risks, and the impact on the Company's operations of current and
future actions taken by governmental authorities, counterparties
and others to the COVID-19 pandemic. By their very nature,
forward–looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward–looking statements. Such
factors include, among others, risks related to the resumption of
operations at Caribou, including that the Company may not be able
to successfully execute the restart of Caribou on the expected
timeline and at the expected costs, or at all; that the economics
of Caribou after restart may not accord to the Company's forecast,
including that the Company's cost and production guidance may not
accurately estimate actual post-restart costs and production at
Caribou; that the Company's fixed price offtake contracts may not
be economic; changes in project parameters as plans continue to be
refined; future prices of zinc, lead, silver and other minerals and
the anticipated sensitivity of our financial performance to such
prices; possible variations in ore reserves, grade or recoveries;
dependence on key personnel; labour pool constraints; labour
disputes; availability of infrastructure required for the
development of mining projects; delays or inability to obtain
governmental and regulatory approvals for mining operations or
financing or in the completion of development or construction
activities; counterparty risks; increased operating and capital
costs; foreign currency exchange rate fluctuations; operating in
foreign jurisdictions with risk of changes to governmental
regulation; compliance with governmental decrees and regulations,
including any new or ongoing decrees and regulations issued by a
governmental authority in response to the COVID-19 pandemic;
compliance with environmental laws and regulations; land
reclamation and mine closure obligations; challenges to title or
ownership interest of our mineral properties; maintaining ongoing
social license to operate; impact of climatic conditions on the
Company's mining operations; corruption and bribery; limitations
inherent in our insurance coverage; compliance with debt covenants;
our ability to raise capital; competition in the mining industry;
our ability to integrate new acquisitions into our operations;
cybersecurity threats; litigation; and other risks and other risks
and uncertainties that are more fully described in the Company's
annual information form, interim and annual audited consolidated
financial statements and management's discussion and analysis of
those statements, all of which are filed and available for review
under the Company's profile on SEDAR at www.sedar.com. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward–looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Trevali provides no assurance
that forward–looking statements will prove to be accurate, as
actual results and future events may differ from those anticipated
in such statements. Accordingly, readers should not place undue
reliance on forward–looking statements.
SOURCE Trevali Mining Corporation