RE: Latest drill results...Trevali drills 7.2 m of 83.8 g/t Ag at Puajanca
2009-12-16 16:17 ET - News Release
Dr. Mark Cruise reports
TREVALI DELIVERS FOURTH SULPHIDE BODY-DRILLING INTERSECTS SIGNIFICANT SILVER-LEAD-ZINC MINERALIZATION AT PUAJANCA SILVER VALUES UP TO 9.4 OZ/T (320 G/T)
Initial drill results from Trevali Resources Corp.'s 2009 resource expansion program have confirmed the presence of significant polymetallic mineralization at its Puajanca zone. Drillhole SAN-104 intersected silver values up to 9.4 ounces per ton (320 grams per tonne) with associated lead and zinc values reaching 8.29 per cent and 5.13 per cent, respectively. Recent surface results, coupled with the current drill assays, indicate that high-grade mineralization extends from surface to 260 metres vertical depth. Mineralization remains open for expansion and has excellent additional depth potential. The company has currently completed 30 holes of its 2009/2010 resource expansion program and drilling is continuing.
Key highlights include:
- Drilling of the Puajanca zone has tested only 60 metres of the 420-metre strike extent (based on surface mapping) and only 260 metres vertical extent -- suggesting significant upside potential.
- Mineralization is presently defined in two core areas, Puajanca North and Puajanca South. At Puajanca South, surface channel samples returned up to 24 metres at 83 grams per tonne (2.4 ounces per ton) silver, 6.22 per cent lead and 4.46 per cent zinc. Puajanca North has been mapped over a 100-metre strike length, returning average values of 220 grams per tonne (6.4 ounces per ton) silver, 15.59 per cent lead and 7.18 per cent zinc (22 samples)(see news release in Stockwatch dated NOv. 2, 2009, for details).
- Mineralization is spatially associated with the southeastern margin of a very large geophysical anomaly (approximately one square kilometre) that may represent the hydrothermal system source at depth -- again positively reinforcing the strong exploration fundamentals of the Puajanca zone.
The Puajanca zone is located within one kilometre of the Magistral North deposit.
The productive Magistral trend has only been drill tested along 600 metres of its 14-kilometre strike length, but hosts the three Magistral deposits (North, Central and South). The three-kilometre-long Puajanca mineral fairway forms a second, very-high-priority target corridor containing numerous target zones.
Work to date at Puajanca indicates that the mineralized zone averages approximately 30 metres thick within which high-grade semi-massive to massive sulphide replacement zones occur. The number of these higher-grade zones is increasing with depth -- only one was intercepted in drill hole SAN-105, whereas SAN-104 contains two such intervals.
Assay results to date indicate that Puajanca has the potential to form a third silver-rich replacement body similar to the Magistral North and Central deposits. Future work will seek to expand upon this.
"These results form a solid start to our aggressive 2009/2010 resource expansion and discovery program," states Dr. Mark Cruise, Trevali's president and chief executive officer. "The company looks forward to a continuous flow of positive drill results in the coming months culminating in an updated NI 43-101 resource estimate and PEA study, in addition to advances on the engineering side from our valued partners Glencore International, as we advance toward production."
SUMMARY ASSAY RESULTS -- PUAJANCA ZONEZone/borehole Downhole(dip/ From To interval Ag azimuth) (m) (m) (m) (oz/t) (g/t) Pb(%) Zn(%)Puajanca 99.8 135.1 35.3 1 35 1.26 1.71SAN-104 Inc. 99.8 107 7.2 2.4 83.8 2.98 4.75(-45 degrees Inc. 113.55 117.9 4.35 3.2 111.2 3.47 3.11/90 degrees) Inc. 114.7 115.7 1 9.4 320.6 8.29 5.13Puajanca 2.6 31.95 29.35 0.6 20.2 1.47 1.77SAN-105 Inc. 18.3 31.95 13.65 1 35.8 2.32 3.29(-10 degrees Inc. 28 31.95 3.95 2.6 90.3 5.18 8.19/90 degrees)Puajanca 27.45 28.45 1 1.7 59.5 6.65 5.95SAN-108(-10 degrees/90 degrees)
Boreholes SAN-101 to 103, 106 and 107 are short geotechnical holes drilled for civil engineering purposes on the Santander plant site testing ground conditions below the future mill, tank house and coarse ore bins.
Stock options
The company further announces that, pursuant to its 2007 incentive stock option plan, it has granted incentive stock options to certain directors, officers and consultants allowing them to purchase up to a total of 1,611,879 common shares in the capital stock of the company. The options are exercisable at a price of 95 cents for a period of two years ending Dec. 16, 2011.
Qualified person and quality control/quality assurance
EurGeol Dr. Cruise, Trevali's president and chief executive officer, 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, Dr. Cruise, president and chief executive officer, Trevali, and Tim Kingsley (independent geological consultant), who together are responsible for all aspects of the work, including the quality control/quality assurance program. 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.