VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2015) -Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) announces a drill results update for its Stratmat Zinc-Lead-Silver-Copper-Gold deposit in the Bathurst Mining Camp of New Brunswick, Canada. The 2014 drilling program, totaling approximately 30,000 metres, was completed in late December and intersected multiple high-grade massive sulphide lenses that remain open for expansion.
The Stratmat deposit currently hosts an Inferred Resource of 5.5 million tonnes grading 6.1% zinc, 2.6% lead, 0.4% copper, 54 g/t silver and 0.6 g/t gold. The recently received, final assay results, from the S-1 Zone and the S-5 Lens have confirmed multiple zones of semi-massive to massive sulphide mineralization (Figure 1 and Table 1). These intercepts continue to validate and enhance Trevali's updated and ongoing geologic modeling, the result of implementation and integration of new exploration tools and detailed review of historic data. SRK Consulting has been retained to provide an updated, independent resource estimate for the Stratmat deposit. It is anticipated that the estimated will be completed during the second quarter.
S-1 ZONE:
Drill hole ST-800 targeted the eastern extension of high-grade polymetallic mineralization intersected in drill hole ST-752, which returned 26.75 metres of 7.42% Zn, 1.37% Pb, 1.26% Cu, 94.2 g/t Ag and 2.45 g/t Au (see TV-NR-14-04, February 26, 2014 for details). ST-800 intersected multiple sulphide horizons over a 75-metre interval, including 17.09 metres at 5.94% Zn, 3.02% Pb, 0.54% Cu, 83.29 g/t Ag and 0.58 g/t Au.
Elsewhere in the S-1 Zone, hole ST-796 intersected 12.70 metres of 7.17% Zn, 2.77% Pb, 0.26% Cu, 77.70 g/t Ag and 0.76 g/t Au proving mineral continuity through to neighboring historic hole ST-329A intercept located 40 metres to the west, which reports 15.60 metres of 7.24% Zn and 2.19% Pb along the same productive massive sulphide horizon.
S-5 LENS:
Drill hole ST-804 followed up on previous hole ST-785, which intersected multiple lenses of massive sulphides and high-grade Zn, Pb, Ag, Cu and Au mineralization (see TV-NR-14-23, November 25, 2014 for details). ST-804 intersected 20.15 metres of massive sulphides grading 2.84% Cu and 1 g/t Au, expanding and defining the S-5 Lens, as well as intersecting 12.37 metres of 8.52% Zn and 3.63% Pb expanding the continuous high-grade, hanging-wall mineralization encountered in the previous reported holes ST-785 and ST-793.
NEW ZONE:
In the New Zone, hole ST-797, designed to follow up on the copper-rich massive sulphide lenses intersected in previous holes ST-763 and ST-770, intersected 18.20 metres of massive sulphide grading 3.00% Cu (Table 1).
*Drill hole intervals are approximately 70-100% of true thickness.
To view Figure 1, please visit the following link: https://media3.marketwire.com/docs/tv0302fig1.pdf.
Table 1: Stratmat Deposit assay results.
| DRILL HOLE / (ZONE) |
FROM - TO
(m) |
INTERVAL
(m) |
Zn
(%) |
Pb
(%) |
Cu
(%) |
Ag
(g/T) |
Au
(g/T) |
| ST-768 / (S-1) |
323.25 - 324.20 |
0.95 |
12.39 |
6.45 |
0.33 |
141.20 |
0.27 |
| ST-772 / (S-1) |
291.46 - 293.90 |
2.44 |
11.92 |
6.39 |
0.43 |
132.98 |
3.28 |
| 319.57 - 321.30 |
1.73 |
9.78 |
3.23 |
1.33 |
29.30 |
0.50 |
| 363.00 - 366.47 |
3.47 |
4.94 |
2.13 |
0.24 |
52.36 |
0.41 |
| ST-775 / (S-1) |
237.80 - 241.00 |
3.20 |
6.70 |
3.52 |
0.26 |
51.79 |
0.24 |
| ST-777 / (S-1) |
107.95 - 110.81 |
2.86 |
6.47 |
2.30 |
0.84 |
39.02 |
0.75 |
| ST-783A / (S-1) |
244.90 - 249.60 |
4.70 |
0.05 |
0.03 |
1.91 |
7.37 |
0.26 |
| 266.80 - 268.75 |
1.95 |
6.57 |
3.51 |
1.27 |
40.07 |
0.15 |
| 382.20 - 386.75 |
4.55 |
1.80 |
0.71 |
1.13 |
17.99 |
0.32 |
| 391.80 - 394.80 |
3.00 |
16.35 |
6.44 |
0.29 |
187.38 |
1.11 |
| ST-789 / (S-1) |
439.60 - 442.98 |
3.38 |
6.20 |
2.75 |
0.59 |
48.89 |
0.33 |
| ST-791A / (S-1) |
468.57 - 471.98 |
3.41 |
4.30 |
2.48 |
1.40 |
89.44 |
0.93 |
| 482.46 - 488.83 |
6.37 |
8.16 |
2.63 |
0.68 |
30.56 |
0.59 |
| 615.18 - 616.11 |
0.93 |
10.77 |
4.41 |
0.60 |
120.30 |
1.05 |
| ST-794 / (S-1) |
399.50 - 402.40 |
2.90 |
8.66 |
4.87 |
0.63 |
77.77 |
0.21 |
| ST-796 / (S-1) |
367.90 - 370.20 |
2.30 |
11.22 |
4.40 |
0.31 |
82.66 |
0.42 |
| 429.00 - 441.70 |
12.70 |
7.17 |
2.77 |
0.26 |
77.70 |
0.76 |
| 518.80 - 523.05 |
4.25 |
5.01 |
2.27 |
1.00 |
26.14 |
0.46 |
| ST-800 / (S-1) |
113.75 - 115.11 |
1.36 |
7.94 |
1.25 |
1.26 |
32.64 |
0.62 |
| 302.68 - 319.77 |
17.09 |
5.94 |
3.02 |
0.54 |
83.29 |
0.58 |
| 326.64 - 334.20 |
7.56 |
3.24 |
1.86 |
0.18 |
55.61 |
0.54 |
| 332.80 - 334.20 |
1.40 |
9.77 |
5.94 |
0.16 |
182.32 |
1.28 |
| 372.81 - 375.29 |
2.48 |
7.24 |
2.78 |
0.11 |
68.80 |
0.42 |
| ST-792 / (S-5) |
149.50 - 151.75 |
2.25 |
13.35 |
4.20 |
4.14 |
44.31 |
0.28 |
| 330.80 - 332.42 |
1.62 |
9.57 |
5.72 |
0.53 |
94.63 |
0.93 |
| ST-804 / (S-5) |
380.07 - 392.44 |
12.37 |
8.52 |
3.63 |
0.45 |
45.20 |
0.22 |
| 421.80 - 441.95 |
20.15 |
0.41 |
0.12 |
2.84 |
20.28 |
1.02 |
| ST-795 / (New Zone) |
605.94 - 607.27 |
1.33 |
6.00 |
1.22 |
0.23 |
31.40 |
0.27 |
| ST-797 / (New Zone) |
295.65 - 297.75 |
2.10 |
9.63 |
4.05 |
0.58 |
58.62 |
0.25 |
| 574.60 - 592.80 |
18.20 |
0.12 |
0.02 |
3.00 |
9.38 |
0.26 |
| 607.85 - 609.10 |
1.25 |
0.06 |
0.02 |
2.54 |
6.80 |
0.32 |
| 648.60 - 650.15 |
1.55 |
0.09 |
0.01 |
2.58 |
5.30 |
0.28 |
| ST-799 / (New Zone) |
672.80 - 674.32 |
1.52 |
7.09 |
1.67 |
0.18 |
17.92 |
0.28 |
Intervals are approximately 70-100% of true thickness.
To view Figure 2, please visit the following link: https://media3.marketwire.com/docs/tv0302fig2.pdf.
In order to add value and continue to advance the Stratmat Deposit and Halfmile Mine towards a production decision point in a timely manner, including the possibility for a second stand-alone milling facility, the Company has closed a non-brokered flow-through financing for aggregate gross proceeds of approximately $5.1 million (comprised of 4,436,957 common shares issued at a price of $1.15 per share). The securities issued pursuant to the financing are subject to a statutory hold period which expires on June 28, 2015.
CARIBOU RE-START PROGRAM
The Company's re-start program at its 3,000-tonne-per-day Caribou polymetallic mine continues to advance and remains on track for Q2-2015 commissioning. A more detailed Caribou re-start update will be provided in the near future.
Qualified Person and Quality Control/Quality Assurance
EurGeol Dr. Mark D. Cruise, Trevali's President and CEO and Daniel Marinov, P.Geo, Trevali's Vice President of Exploration, 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. D. Cruise is not independent of the Company, as he is an officer, director and shareholder. Mr. Marinov is not independent of the Company as he is an officer and shareholder. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories (ACME) preparation facility in Val-d'Or, Quebec for crushing and splitting and coarse rejects were assayed at ACME in Vancouver, BC. ACME 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 an ISO compliant third party laboratory for additional quality control.