January 06, 2012 11:47 ET
Trevali Commences Initial Production at Halfmile Mine in New Brunswick
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2012) - Trevali Mining Corporation ("Trevali" or the "Company") (TSX:TV)(TSX:TV.WT)(OTCQX:TREVF)(LMA:TV)(FRANKFURT:4TI) is pleased to announce that initial mineral production has commenced from the uppermost portions of its wholly-owned Halfmile polymetallic (zinc-lead-silver-copper-gold) Massive Sulphide Deposit in the Bathurst Mining Camp of northern New Brunswick, Canada. Ramp-up to full nameplate (2,000-tonne-per-day) commercial production will occur over the current quarter.
The Company is currently mobilizing a second underground development crew that will further deepen the access ramp to open the lower levels for mineral extraction while the first production crew stock-piles mineralization prior to shipment and treatment at the Xstrata Brunswick 12 processing plant.
To view figure 1, please visit the following link: http://media3.marketwire.com/docs/756740.jpg
"We are incredibly proud to make this transition from mineral explorer/developer to producer. Progress to date at Halfmile has been exemplary - our experienced senior management and mine development team has brought the project in under budget and to initial production within 9 months," stated Mark Cruise, President and CEO. "We have invested approximately $16 million, a fraction of the typical mine start-up cost, to bring the deposit on line. To date roughly 80% of this expenditure has remained in the northern New Brunswick region and will provide significant economic benefits. The Halfmile operation currently employs approximately 60 people including members of the Mi'gmag First Nation and the local communities, and at full nameplate production is anticipated to provide approximately 130 full-time positions. We hope that with ongoing Government support we can significantly increase these benefits going forward as we advance Halfmile's sister deposit, Stratmat, to production."
HALFMILE AND STRATMAT DEPOSITS
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