VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2014) -Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) provides an update on construction activities at its wholly-owned Caribou mine and mill complex (Figure 1) located in the Bathurst Mining Camp of northeastern New Brunswick, Canada.
Following the successful closing of recently announced $52.5-million corporate debt facility for the Caribou mine operations (see NR TV-NR-14-10 for details) the Company has commenced both surface and underground construction and rehabilitation activities to facilitate Mine and Mill commissioning in the first half of 2015. Due to the highly skilled and available workforce, contractors and service providers, the Company is fortunate to be able to source the majority of its required re-start and future production services locally.
Trevali also continues to liaise closely with local Mi'kmaq First Nations ensuring that the Impact Benefits Agreement signed between the two parties continues to benefit the First Nations involved. Through the planned re-launch of the Underground Miner Training Program and the addition of a Surface and Mill Operator Training Program for First Nations students, the Company looks forward to continuing to offer opportunities to the Mi'kmaq of New Brunswick and further strengthening its relationship with the First Nation people of New Brunswick.
A summary of key current activities is provided below:
SURFACE WORKS
- The Main Mine Office annex is fully refurbished and now staffed by Trevali's development team.
- Site communications will be significantly enhanced by a new fibre-optic cable which is scheduled to be commissioned in Q3/Q4 of 2014.
- A warehouse inventory is nearing completion.
- The Mine Dry Facility and Change House, necessary for Underground ("UG") activities, is nearing completion.
- Site power repairs are predominantly complete, power-line underbrush clearing is in progress and the various transformers have been serviced and repaired where necessary.
- Improved site water management requirements have been identified and tendering is in progress.
To view Figure 1 please click the following link: https://media3.marketwire.com/docs/TrevaliFig1.pdf
MILL
- The new 3,000-tonne-per-day Semi-Autogenous-Grinding (SAG) Mill was delivered in late 2013 and the remaining associated componentry during the first quarter of 2014. The SAG Mill tender has been completed and the Company is currently finalizing installation timing (Figure 2).
- Key Mill component spare part purchasing has commenced and is progressing well.
- The Company is currently updating its Mill hygiene policy following which Mill clean-up activities will commence.
- Copper metallurgical testwork optimization is ongoing and detailed Cu-circuit design is in progress.
- Processes water circuit has been repaired and upgraded.
To view Figure 2 please click the following link:https://media3.marketwire.com/docs/TrevaliFig2.pdf
UNDERGROUND
- All underground equipment and services were pulled to surface and securely warehoused prior to mine shut-down in 2008.
- Alex Macintyre & Associates Ltd. have been awarded the UG development and mining contract following a competitive tender process in which seven qualified UG mining contract companies submitted bids. Trevali has a strong working relationship with Alex Macintyre who developed the Company's Halfmile trial mining operation on time and budget in 2011/12.
- A general inspection of the primary ramp and Level 2 indicates that ground conditions are good and ground support is predominantly intact - minor rehabilitation will be required where water levels seasonally fluctuated.
- Rehabilitation of the surface service raise and secondary egress rehabilitation is in progress, following which larger scale UG activities can commence.
- Ventilation Fan and UG Heating units have been inspected, minor repairs will occur in due course.
- Mine dewatering is progressing well - UG workings are approximately 40 percent dewatered to Level 2 where the main mine dewatering sumps are located. Primary pumps will be installed in the coming weeks following ramp inspection and rehabilitation where required.
- A Paste Backfill Study is advancing, which contingent on positive results has the potential to significantly increase the life-of-mine, in addition to decreasing mine dilution (boosts head-grade) and lower operating costs.
STAFFING
- Phase 1 staffing is ongoing and the Company currently directly and indirectly employs 57 people from the Bathurst region. During peak construction, commencing in the third quarter of 2014 and ongoing to commissioning in 2015, it is estimated that Trevali New Brunswick will employ approximately 300-320 people and then approximately 250 people during future steady-state production from mid-2015 onwards.
2014 AGM RESULTS
Trevali also reports on results of voting from its 2014 Annual and Special Meeting of Shareholders held June 24, 2014 in Vancouver, BC.
Each of the nominees listed in Trevali's Management Information Circular dated May 15, 2014 was elected as a director of the Company. Shareholders voted in favour of all items of business before the meeting. Detailed results of the election of director nominees are shown in the attached table.
| Director |
Number of votes in favour |
Percentage of votes in favour |
| Mark Cruise |
110,827,486 |
99.95% |
| Anton Drescher |
105,310,985 |
94.98% |
| Christopher Eskdale |
98,313,890 |
88.67% |
| Catherine Gignac |
110,694,586 |
99.83% |
| Michael Hoffman |
105,160,185 |
94.84% |
| David Huberman |
110,692,786 |
99.83% |
| Peter Meredith |
105,190,190 |
94.87% |
| Valentin Paniagua |
110,717,786 |
99.85% |
Shareholders ratified and approved the Company's Appointment of Auditor and the Approval of Stock Option and Stock Bonus Plan and Unallocated Options.
The Company would also like to thank Dr. Paul Klipfel, who did not stand for re-election as director, for his years of service on Trevali's Board and wishes him all the best in his new endeavours.
Detailed voting results for the 2014 Annual and Special Meeting of Shareholders are available on SEDAR.
Qualified Person and Quality Control/Quality Assurance