Trevali invests in Caribou Mine future with new mining fleet
Vancouver, British Columbia: Trevali Mining Corporation (“Trevali” or the “Company”) (TSX: TV; BVL: TV; OTCQX: TREVF; Frankfurt: 4TI) announces a new investment in the future of its Caribou Zinc Mine, located in the Bathurst Mining Camp of northeastern New Brunswick, Canada, through the decision to transition to an owner-operated model that will include procurement of a new underground mining fleet.
As initially identified in the 2014 Preliminary Economic Assessment and following the successful declaration of Commercial Production at the Caribou Zinc Mine in mid-2016, the Company conducted a review of underground mining operations to further optimize and increase efficiencies. Based on this review, Trevali is moving to an owner-operated model that will include a new fleet of mining equipment.
Trevali has committed to an approximately Cdn$20-million investment through a new partnership with Sandvik Mining to supply and maintain a full fleet of mining equipment for Caribou Mine operations. Trevali will operate and manage all aspects of the underground mining operation and Sandvik will be responsible and accountable for the maintenance of the fleet. During 2017, the following equipment (see Table 1) will be procured and commissioned on site:
|1||Two Boom Jumbo||2||DD 321|
|2||8 yd. LHD||5||LH 514|
|3||40 T Haul Truck||7||TH 540|
|4||Long Hole Production Drill||1||DL 421|
|5||Cable Bolter/Back Up LH Drill||1||DS 421|
Table 1: New Caribou Underground Mining Fleet
Additional equipment being sourced also includes a grader, new underground light vehicle fleet, and a combination of new and used underground ancillary equipment.
“Trevali’s new investment demonstrates our ongoing commitment to the future of the Caribou Mine and operations in the Bathurst region of New Brunswick,” stated Dr. Mark Cruise, Trevali’s President and CEO. “The efficiencies realized through this initiative will solidify our position as a major employer and economic contributor in the Province, and forms a pathway for the Company’s long-term, multi-cycle vision for the Bathurst Mining Camp.”
ABOUT TREVALI MINING CORPORATION
Trevali is a zinc-focused, base metals mining company with two commercially producing operations.
The Company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine in Peru and its 3,000-tonne-per-day Caribou mine in the Bathurst Mining Camp of northern New Brunswick. Trevali also owns the Halfmile and Stratmat base metal deposits, located in New Brunswick, that are currently undergoing a Preliminary Economic Assessment reviewing their potential development.
The common shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company’s website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.