Trevali intersects high-grade zinc 240 metres below Perkoa Mine
9.4 metres at 26.6% Zn, including 2.6 metres at 39.3% and 3.3 metres at 31.8% Zn;
10.3 metres at 18.7% Zn, including 5.0 metres at 30.0% Zn;
and 19.6 metres at 16.5% Zn, including 9.1 metres at 23.1% Zn
VANCOUVER, British Columbia, June 05, 2018 (GLOBE NEWSWIRE) — Trevali Mining Corporation (“Trevali” or the “Company”) (TSX:TV) (BVL:TV) (OTCQX:TREVF) (Frankfurt:4TI) announces results from the 2018 exploration and resource expansion program at the Perkoa Mine in Burkina Faso. The recent drill holes (PUX001, PUX002 and PUX006a), deepest to date on the property, intersected mineralization up to 240-metres below the current modeled mining level and confirms mineralization remains open at depth (Table 1, Figure 1 & 2).
Perkoa Exploration Summary
Since acquiring Perkoa, a re-interpretation of the geological model has recognized the significance of structural thickening of the deposit on an approximately 200-metre periodicity. In late-2017, proof of concept drilling verified the model. The 2018 drill program targeted these areas below the current mine design, approximately 700-metres subsurface, returning multiple high-grade zinc intercepts in the down-dip extensions of the Hanging-Wall (HW) lens (Table 1, Figure 1 and 2
Perkoa Hanging Wall Lens
Mining at Perkoa is concentrated on two principal lenses; the Main Footwall (FW) Lens and the HW Lens.
As currently defined the HW lens is a broad zone of massive to semi-massive sulphide mineralization that contains a high-grade zinc shoot steeply plunging to the northeast. Furthermore the recent deep drilling has, for the first time, identified an emerging feeder zone, a common feature of VMS deposits, consisting of chlorite-magnetite alteration and increasing abundance of chalcopyrite (copper mineralization).
Mineral system analysis indicates that exploration is vectoring towards the higher temperature part of the system: Considering normal VMS dimensions with a 3:1 ratio of feeder to stratiform lens suggests that there is significant remaining depth potential for the discovery of additional resources.
Integrated regional exploration of the Perkoa Mine Horizon is progressing well. In detail, ground Time-Domain Electromagnetic (TDEM) geophysical surveys, Air Core drilling, surface geochemical sampling and mapping are continuing to identify new unexplored geophysical and geochemical anomalies along strike from Perkoa along the postulated trace of the productive mine horizon.
Mapping and surface sampling has identified previously unknown gossan outcrops and follow-up trenching and channel sampling has revealed these leached rocks to be anomalous in base metals reporting similar elevated trace elements to the Perkoa “discovery” gossan. These will be drill tested in the coming months, and clearly demonstrates the exploration potential of this unexplored frontier VMS belt.
Trevali Increases Interest in Rosh Pinah Mine, Namibia
Further to the news release dated May 1, 2018 (see TV-NR-18-07), Trevali’s majority-owned subsidiary Rosh Pinah Zinc Corporation (Proprietary) Limited (“RPZC”) in Namibia has completed a partial share buy-back of issued RPZC shares under agreements with its Namibian shareholders. As a result Trevali’s effective beneficial ownership in RPZC has increased from approximately 80 percent to approximately 90 percent.
Filing of Caribou, Perkoa and Rosh Pinah Technical Reports
Further to its news release dated April 16, 2018 (see TV-NR-18-06), technical reports prepared in accordance with National Instrument 43-101 for the Caribou Mine in New Brunswick, Canada, the Perkoa Mine in Burkina Faso and the Rosh Pinah Mine in Namibia have been filed on SEDAR.
The specific technical reports filed are:
Technical Report on the Perkoa Mine, Burkina Faso dated April 12, 2018
Technical Report on the Rosh Pinah Mine, Namibia dated May 1, 2018
Technical Report on the Caribou Mine, Bathurst, New Brunswick, Canada dated May 31, 2018
Subsequent to the April 16, 2018 release of the Caribou Mineral Reserves, Trevali carried out additional reviews of the modifying factors used for the conversion of Mineral Resources to Mineral Reserves that has resulted in a revised estimate of the Caribou Mineral Reserves (Table 2). Mineral Resources have not changed.
TABLE 2: MINERAL RESERVE SUMMARY – AS AT DECEMBER 31, 2017
Trevali Mining Corporation – Caribou Mine
CIM (2014) definitions were followed for Mineral Reserves.
Mineral Reserves are estimated at a net smelter return (NSR) cut-off value of $65/tonne.
Mineral Reserves are estimated using average consensus forecast long-term prices of US$1.21/lb zinc, US$1.00/lb lead, US$18.50/oz silver, FX: US$/C$0.80. Numbers may not add due to rounding.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali’s President and CEO and Daniel Marinov, P.Geo, Trevali’s VP Exploration, are qualified persons as defined by NI 43-101, have supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Marinov is responsible for all aspects of the work, including the quality control/quality assurance programs. Dr. Cruise is not independent of the Company, as he is an officer, director and shareholder. Mr. Marinov is not independent of the Company as he is an officer and shareholder.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals company with four mines: the wholly-owned Santander mine in Peru, the wholly-owned Caribou mine in the Bathurst Mining Camp of northern New Brunswick, its 90% owned Rosh Pinah mine in Namibia and its 90% owned Perkoa mine in Burkina Faso.
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.
On Behalf of the Board of Directors of
TREVALI MINING CORPORATION
“Mark D. Cruise” (signed)
Mark D. Cruise, President
Steve Stakiw, Vice President – Investor Relations and Corporate Communications
Phone: (604) 488-1661 / Direct: (604) 638-5623