VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/07/11 -- Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV)(OTCQX: TREVF) announces receipt of additional results from its metallurgical drill program of the Upper Zone at its Halfmile Zinc-Lead-Silver-Copper Deposit in New Brunswick, Canada. Results continue to return significantly higher silver and gold values than previously estimated. Furthermore drilling has intersected substantially higher grade zones of massive sulphide mineralization at depth in the Upper Zone of the deposit.
HIGHLIGHTS
-- Gold assays of the massive sulphide horizon continue to validate
assumption of gold values for Upper Zone to average approximately 0.55
g/t versus zero in the NI43-101 resource estimate (gold was assayed in
only 20% of previous historic drill holes and was not interpolated in
the resource estimate).
-- Silver values continue to return consistently higher values than modeled
for the Upper Zone - weighted average of 55.5 g/t versus 16.95 g/t.
-- Higher than expected grades at depth and results continue to demonstrate
good to excellent mineral continuity within the massive sulphide Upper
Zone (Table 1 & Fig. 1).
-- Hanging wall copper-rich stringer zone continues at depth - intercepts
include 5 metres at 1.43% copper.
RESULTS
The purpose of the recently completed 2,500-metre metallurgical and geotechnical drill program was to determine the precious metal content of the Halfmile Upper Zone - that is being targeted in the initial phase of underground mine development. In addition the program was also undertaken to establish continuity, grade, and extents of the zone and provide sufficient samples for metallurgical test work and geotechnical data. In this regard it has been highly successful.
The assay drill results of all recent drilling are summarized in the table below and locations are illustrated in the Longitudinal Projection (Fig. 1).
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DHID Zone Length %Zn %Pb %Cu g/t Ag g/t Au
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HK10-01 MainMS 7.07 4.00 1.10 0.30 24.25 0.42
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HK10-02 MainMS 13.74 7.20 2.49 0.28 75.40 0.72
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HK10-03 HW Cu 3.63 0.12 0.04 2.71 15.63 0.37
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MainMS 5.83 7.00 2.69 0.17 53.23 0.30
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HK10-04 HW Cu 6.06 0.07 0.01 1.23 3.71 0.05
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MainMS 29.25 6.87 2.23 0.46 52.01 0.86
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HK11-05 HW Cu 2.03 0.25 0.07 0.92 4.91 0.00
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MainMS 2.00 2.81 0.39 1.02 12.57 0.24
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HK11-06B HW Cu 6.00 0.05 0.04 0.86 4.24 0.25
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less
than
MainMS 1.06 0.53 0.26 0.10 6.00 0.03
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HK11-07 MainMS 15.11 5.88 1.65 0.61 40.62 0.41
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HK11-08 HW Cu 1.19 0.22 0.05 2.97 12.00 0.19
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MainMS 23.32 6.43 1.92 0.34 42.80 0.47
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HK11-09 MainMS 6.69 2.61 0.63 0.54 112.28 0.81
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HK11-10 HW Cu 8.00 0.08 0.03 1.43 6.13 0.22
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MainMS 8.94 8.80 3.54 0.43 78.61 0.37
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HK11-11B HW Cu 7.00 0.12 0.03 2.63 9.69 0.11
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MainMS 0.83 2.06 1.01 0.24 12.00 0.00
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HK11-12(x) MainMS 5.94 2.32 0.53 0.67 14.08 0.41
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HK11-13(x) HW Cu 5.00 0.06 0.02 1.43 6.25 0.08
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MainMS 3.97 8.34 2.61 0.48 55.31 0.49
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HK11-15(x) HW Cu 1.68 0.13 0.03 2.43 7.20 0.24
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MainMS 2.63 10.28 3.30 0.26 72.28 0.53
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Table 1 - Halfmile Upper Zone drill results (MainMS - Main Massive
Sulphide; HW Cu - Hanging-Wall Copper). Drill lengths in metres. Recently
received assays are marked with an (x). Drill intervals approximate
true widths.
Note: To view "Figure 1. Longitudinal projection of Upper Zone of Halfmile Deposit", please click the following link: http://media3.marketwire.com/docs/tv0607.pdf.
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. Advanced permitting and engineering studies are in progress at Halfmile with 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). For further details on Trevali, readers are referred to Trevali's web site (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
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 Halfmile were supervised, reviewed and approved by Dayle Rusk, P. Geo., Vice President Exploration of Trevali, a Qualified Person as defined under NI 43-101 guidelines, and who was 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 Activation Laboratory Ltd's sample preparation facility in Fredericton, New Brunswick with subsequent assaying using multi-acid digest ICP-AES and ASS techniques at their laboratory in Ancaster, Ontario, Canada. Activation's quality system complies with the requirements for the International Standards ISO/IEC 17025 with CAN-P-1579 designation. 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.
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
