RE:Q2 productionVancouver, British Columbia...Trevali Mining Corporation ("Trevali" or the "Company")
(TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) reports preliminary production results for its second quarter 2014, ended June 30, 2014, of approximately 12 million payable pounds of zinc, 4.4 million payable pounds of lead and 187,000 payable ounces of silver from the Santander Mine in Peru.
Average recoveries for the quarter were 88% for zinc, 84% for lead and 70% for silver. Q2-2014 throughput at the 2,000-tonne-per-day-rated Santander processing complex was 175,384 tonnes, delivering a mill utilization factor of 99.7%. Average head grades of 4.20% Zn, 1.42% Pb and 1.44 oz/ton Ag were realized to produce approximately 13,048 tonnes of zinc concentrate averaging 49% Zn and 3,680 tonnes of lead-silver concentrate averaging 57% Pb and 48.8 oz/ton Ag.
Table 1: Santander Mine production statistics
|
Q2-2014 |
Q1-2014 |
2014 YTD |
| Tonnes mined |
152,733 |
156,030 |
308,763 |
| Tonnes milled |
175,384 |
173,820 |
349,204 |
Average head grades:
Zinc
Lead
Silver |
4.20%
1.42%
1.44 oz/ton |
4.76%
1.90%
1.97 oz/ton |
4.47%
1.66%
1.70 oz/ton |
Average recoveries:
Zinc
Lead
Silver |
88%
84%
70% |
87%
86%
74% |
87%
85%
72% |
Concentrate produced:
Zinc (dry metric tonnes)
Grade (Zn%)Lead-Silver (dry metric tonnes)
Grade (Pb%)
Grade (Ag oz/ton) |
13,048
49% 3,680
57%
48.8 oz/ton |
15,640
50% 4,510
58%
55.3 oz/ton |
28,688
49% 8,190
57%
52.1 oz/ton |
Payable metal production:
Zinc (pounds)
Lead (pounds)
Silver (troy ounces) |
12,044,583
4,420,428
186,824 |
14,597,890
5,466,350
268,600 |
26,642,473
9,886,779
455,423 |
The decrease in metal production for the second quarter (versus Q1) was primarily due to modifications and optimization of underground production workings and mine plan within the Magistral North Deposit. This program was aimed at incorporating the recently discovered Rosa Zone (high-grade lead and silver mineralization) into production scheduling, primarily where it intersects the Magistral North Zone. In these areas the mineral body widths thicken dramatically from approximately 6-8 metres to 15-18 metres on average. The modifications to the Magistral North-Rosa mine plan are essentially complete and the Company expects quarterly metal production units to increase going forward.
Trevali remains well on track for its 2014 Santander production guidance estimate of approximately 670,000 to 690,000 tonnes of mill throughput, with average head grades estimated at 4.0% to 4.2% zinc, 1.5% to 1.7% lead and 1.4 oz/ton to 1.6 oz/ton silver to produce, in payable metals, 42-45 million pounds of zinc; 15-17 million pounds of lead and 700,000 to 720,000 ounces of silver. (Please see Cautionary Note on Forward Looking Statements at the end of this document.)
Q2-2014 Financial Results and Conference Call
Trevali will release financial results for its second quarter period ending June 30, 2014 on August 14, 2014 after the close of the trading day in Toronto.
The Company will host a conference call and audio webcast at 10:30 a.m. Eastern Time on Friday, August 15, 2014 to review the financial results. Participants are advised to dial in 5-to-10 minutes prior to the scheduled start time of the call.
Conference call dial-in details:
Toll-free (North America): 1-800-769-8320
Toronto and international: 1-416-340-8530
Audio Webcast:
https://www.gowebcasting.com/5673
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO, Paul Keller, P.Eng, Trevali's Chief Operating Officer 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. Dr. Cruise is not independent of the Company as he is an officer, director and shareholder. Mr. Keller is not independent of the Company as he is an officer and shareholder.
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals mining company with one producing operation currently in Peru and an advanced-stage mine under development in Canada.
In Peru, the Company is actively producing zinc and lead-silver concentrates from its Santander mine and 2,000-tonne-per-day metallurgical plant.
In Canada, Trevali owns the Caribou mine and mill, Halfmile mine and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The Company is currently advancing its 3,000-tonne-per-day Caribou Mill Complex and mine towards scheduled 2015 production.
All of the Company's deposits remain open for expansion.