Resumen: Trevali Mining Co. (TV) actualiza la información sobre su progreso con las autoridades de la zona, para pasar a operaciones independientes de procesamiento de minerales en el campamento minero de Bathurst de New Brunswick, Canadá.
La empresa informa que ha estado trabajando de manera cercana con la provincia para poder facilitar el reinicio de las operaciones del complejo minero de manera oportuna. A la fecha, la empresa y los funcionarios de la zona están trabajando para lograr un acuerdo definitivo al respecto.
A raíz de esto, la compañía a comenzado a enfocarse en el desarrollo del subsuelo a largo plazo y el planeamiento minero, con el fin de facilitar el reinicio del complejo Caribou en el 2013. Se están realizando estudios de suelo y producción pre-comercial con la finalidad de obtener información sobre las condiciones del suelo y las tasas potenciales de producción para una operación totalmente en rampa (considerando metales como el zinc, plata, cobre y oro). Asimismo, la empresa continúa desarrollando importantes avances en el aseguramiento de un nivel de deuda adecuado para soportar el reinicio operativo del complejo Caribou, en el cual se planean hacer distintas modificaciones.
Trevali provides Caribou Mill Update-Advances Focus to 'Stand-Alone' Operations in Light of Positive Progress With Province of New Brunswick
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 2, 2012) - Trevali Mining Corporation ("Trevali" or the "Company")(TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) wishes to provide an update on its progress to move to stand-alone mineral processing operations in the Bathurst Mining Camp of New Brunswick.
CARIBOU TRANSACTION
Since the announcement of the transaction to acquire the former Caribou Mill and Mine Complex from Maple Minerals in May 2012 (see NR-12-14 for details) the Company has been working closely with the Province of New Brunswick in order to facilitate re-start of milling operations in a timely manner.
In the intervening period the Company has submitted a 'stand-alone' site re-start business plan in addition to a final site closure plan to the Province, and progress to date has been excellent. Trevali and Provincial officials are working towards a definitive agreement whereby the Province will approve Trevali to operate the Caribou site. The Company cautions that the "New Environmental Liability Agreement" is currently being drafted and requires Cabinet-level sign-off, however based on progress to date it is anticipated that Trevali may be in a position to close the transaction by the end of Q3-2012.
FOCUS ON STAND-ALONE OPERATIONS
In light of these positive developments the Company has commenced to shift its efforts from short-term toll milling to long-term underground development and mine planning in order to facilitate the anticipated re-start of Caribou Mill in 2013.
Underground development and initial (pre-commercial) production mining to date has been very instructive and has provided excellent information on ground-conditions, potential production rates for a fully-ramped operation and metallurgical recoveries to produce saleable zinc, lead-silver and copper-gold concentrates. This information will enable further optimization and streamlining in order to support stand-alone mineral processing operations at the Caribou Mill as well as preserving the Upper Zone of the Halfmile deposit for anticipated lower cost stand-alone operations.
The Company plans to drive the main Halfmile ramp to the thicker and higher grade zones of the deposit where NI 43-101 Indicated resource grades are estimated to increase from 6.72% to 8.68% Zn, 2.31% to 2.81% Pb and 16.95 to 37.94 g/t Ag (Table 1 & Figure 1).
Table 1: Halfmile Deposit - Indicated Resource Estimate at 5% ZnEQ Cut-Off after Wardrop-Tetratech
Zone
Tonnes
ZnEQ
Zn%
Pb%
Cu%
Ag g/t
Upper
1192700
7.96
6.72
2.31
0.43
16.95
Lower
4472200
9.65
8.68
2.81
0.12
37.94
North
597200
7.56
6.78
1.4
0.49
4.84
Total
6262100
9.13
8.13
2.58
0.22
30.38
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/TV0802a.pdf
DEBT FACILITIES
The Company also continues to make major progress on securing a corporate level debt facility in order to support the Caribou Mill re-start where the Company plans to add a Cu-circuit and modify the mill so that it can treat all three of its deposits in the Bathurst Mining Camp; Halfmile, Stratmat and Caribou (upon closure of the transaction) (Figure 2).
To view Figure 2 please click on the following link: http://media3.marketwire.com/docs/TV0802b.pdf
Seven financial institutes and or end-users have signed Confidentiality Agreements and due diligence is progressing well. The Company hopes to be in a position to announce implementation of a facility in late summer.
CAUTIONARY STATEMENTS
The Company cautions that failure to finalize an agreement with the Province of New Brunswick by December 31st 2012 will result in delays to the Company's plans to move to stand-alone mining/milling operations and could jeopardize the announced Caribou transaction.
The Company also cautions that failure to secure such a debt facility will result in delays / deferrals to stand-alone operations until either a workable debt facility is secured and/or anticipated cash-flow from its Santander operation is sufficient to enable a re-start.
On Behalf of the Board of Directors of TREVALI MINING CORPORATION
Mark D. Cruise, President
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