Trevali Mining Corporation
TSX : TV
OTCQX : TREVF

Trevali Mining Corporation

May 09, 2011 09:53 ET

Trevali Extends Magistral Central Deposit at Santander Silver-Lead-Zinc Mine Project, Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 9, 2011) - Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(OTCQX:TREVF) -

SAN-167 intersects multiple zones including:

6.45 metres at 9.2 oz/t (315.2 g/t) silver, 2.71% lead and 4.96% zinc;

10.15 metres at 1.4 oz/t (47.7 g/t) silver, 14.4% zinc and 0.23% copper

Trevali Mining Corporation is pleased to announce that resource expansion drilling has intersected thick zones of high-grade silver-lead-zinc mineralization extending the Magistral Central deposit at the Santander Mine Project an additional 130 metres to depth (Table 1 & Figure 1).

Table 1 Summary assay results Drill Hole SAN-167
Zone/Borehole (dip/azimuth)Depth From - To
(metres)
Down
Hole
Interval*
Ag
g/t
- (oz/T)
Pb
%Zn
%Cu
%
Magistral491.8 - 498.256.45m315.2 - (9.2)2.714.960.14
Central SAN-167502.3 - 505.252.95m202.1 - (5.9)3.894.280.12
(-61.3°
/87.1°)
541.15 - 551.310.15m47.7 - (1.4)0.3214.400.23

*true width is estimated at approximately 70-80% of reported interval

The total vertical depth of known mineralization is now 480 metres from surface. Mineralization remains open for expansion to depth.

"The drill-bit continues to confirm the significant upside potential of the productive mineral systems at the Santander project - simply put everything remains open for expansion and the rigs are continuing to turn," stated Dr. Mark Cruise, Trevali's President and CEO. "Given the very strong similarities between the three Magistral deposits and the newly intersected high-grade mineralization at the former Santander Pipe we are highly confident that the current 10,000-metre resource expansion program will continue to extend the deposits and deliver near-term shareholder value. We remain on schedule for mill commissioning in late 2011 with production commencing in early 2012."

TARGET SUMMARY

Drill hole SAN-167 targeted down-dip extensions of the Magistral Central deposit and expands the known depth of mineralization by approximately 130-metres down dip or 112-metres vertically (Fig. 1). The intercept extends mineralization significantly below the Company's previously deepest intercept: SAN-165 which intersected 20.45 metres at 7.73% Zn, 0.12% Cu, and 0.02% Pb at approximately 360 metres below surface.

To view Figure 1, a three-dimensional longitudinal graph associated with this release, please click the following link: http://media3.marketwire.com/docs/tvchart.pdf.

Drill hole SAN-167 maintains average silver grades and intersected elevated copper values associated with a higher temperature alteration mineral assemblage (similar to the upper portions of the formerly producing Santander Pipe) - indicative of persistent strong vertical continuity of mineralization within the Magistral Central deposit. Drilling has yet to insect mineral related intrusives (typically the metal source in these skarn-replacement systems) suggests that significantly more depth potential remains.

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 Santander were designed by, and are supervised by, Mark D. Cruise, President & CEO, Trevali, Tim Kingsley (Senior Geologist) and Tansy O'Connor-Parsons (Chief Geochemist), who together are 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 ACME Laboratories, Vancouver, for assay. ACME's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. 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. Blind certified reference material is inserted at regular intervals into the sample sequence by Trevali personnel in order to independently assess analytical accuracy. Finally, representative blind duplicate samples are routinely forwarded to ACME and an ISO compliant third party laboratory for additional quality control.

ABOUT TREVALI MINING CORPORATION

Trevali Mining is advancing two polymetallic deposits to production in Canada and Peru – the Halfmile and Santander projects respectively. In Canada, Trevali holds the Halfmile and Stratmat polymetallic deposits near Bathurst, New Brunswick, and the Ruttan copper-zinc deposit in northern Manitoba. Site development is in progress at Halfmile with proposed production at 2,000-tonnes-per-day anticipated to commence in 2011.

At Santander, in conjunction with Glencore International A.G., development is underway with mine commissioning and production expected to commence at 2,000-tonnes-per-day in late 2011 with full production to follow immediately thereafter. Additionally, through its wholly owned subsidiary Trevali Renewable Energy Inc., the Company is undertaking a significant upgrade of its Tingo run-of-river hydroelectric power 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 the Trevali'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.

Contact Information

  • Trevali Mining Corporation
    Steve Stakiw
    Manager - Corporate Communications
    (604) 488-1661
    (604) 408-7499 (FAX)
    sstakiw@trevali.com