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The profile below is part of a campaign paid for by Trevali Mining. This profile provides detailed information, helping investors make better investment decisions. Trevali Mining’s support of Zinc Investing News ensures we can continue to bring you unbiased, independent news and information.


Trevali Mining Corp. – The Newest Zinc-Lead-Silver Producer in the Americas


Trevali Mining Corporation (TSX:TV) is a primary zinc producer with one operating zinc-lead-silver mine in Peru and a second operating polymetallic mine in New Brunswick, Canada.

The Santander Mine in Peru is a 2,000 tonne per day underground mine and mill complex which includes production from three major deposits with significant exploration potential to expand the current resource. Trevali brought Santander into full commercial production in 2014 and the mine is now cash flow positive.

The company’s current focus is on bringing into commercial production its wholly-owned Caribou Mine in New Brunswick. Initial operations commenced at Caribou in mid-2015 and a ramp-up of the 3,000 tonnes per day Caribou Mill Complex is well underway with commercial production targeted for early 2016.

Glencore Plc., one of the world’s largest zinc miners and commodity traders, is a strategic partner-shareholder and purchases all of the company’s concentrate production.

Investment Highlights

  • Assets 100 percent controlled by Trevali; operations fully-financed.
  • Diversified revenue stream from polymetallic production: zinc, lead, silver, copper and gold.
  • The primary zinc producer on the TSX.
  • Zinc fundamentals remain bullish with about ten percent of global supply coming offline while forecast consumption remains strong.
  • Strategic partnership with Glencore Plc.
  • Strong global demand for zinc alongside shrinking supply forecast.
  • Santander zinc-lead-silver mine in Peru in production.
  • Caribou Mine and Mill Complex operations online with commercial production projected to be reached Q1 2016.
  • All deposits remain open for expansion with potential to increase current resources.
  • Robust project pipeline with development studies underway on Halfmile and Stratmat projects in New Brunswick.

Free for Immediate Download

Dundee Capital Trevali Research Update May 2016

Zinc and Polymetallic Production in North America


The Caribou polymetallic mine and mill complex is located in the Bathurst Mining Camp of northeastern New Brunswick, Canada. Trevali has succeeded in securing the whole of the camp including the Halfmile Mine and the Stratmat deposit.

These massive polymetallic sulphide deposits are rich in zinc and also contain significant amounts of lead, silver, copper and gold. All three remain open for expansion.


Operations at the Caribou Mine include a 3,000 tonne per day mill complex, flotation recovery plant (including a copper recovery circuit), 13 kilometers of underground development, metallurgical and geochemical laboratories and a fully-permitted tailings treatment facility.

Caribou to Commence Commercial Production in 2016


The Caribou mill was commissioned in Q2 2015 with initial zinc and lead concentrate production/shipments commencing in mid-2015. Trevali continues to advance Caribou toward commercial production. Operational specialists from partner-shareholder Glencore’s IsaMill Division are assisting Trevali’s technical team onsite.

In October 2015 mill feed transitioned from the initial low-grade stockpile to higher-grade, run-of-mine material. Commercial production at Caribou is on-track to commence in early 2016.

Planned PEA for Halfmile Mine and Stratmat Deposit

The Halfmile Mine is a fully-permitted underground mine with production levels already in place. Trial underground mining and production was undertaken in 2012 with more than 100,000 tonnes of mineralized material processed at the Brunswick 12 Mill. The trial mining provided useful metallurgical and recovery data, which will be usedin a planned preliminary economic assessment (PEA) update on a potential combined Halfmile-Stratmat development plan.

About 20 kilometers east of the Halfmile Mine, Stratmat is a near-surface zinc-lead-silver-copper-gold deposit which remains open for expansion along strike and at depth. In early 2015, Trevali completed a 30,000-meter drill program with significant results.

An updated resource estimate was released in May 2015 in anticipation of the PEA update. The Stratmat deposit contains an estimated indicated resource of 4.7 million tonnes grading 5.31 percent zinc, 2.07 percent lead, 0.41 percent copper, 48.52 grams per ton silver and 0.59 grams per ton gold, and an inferred resource of 2.40 million tonnes grading 4.76 percent zinc, 2.07 percent lead, 0.70 percent copper, 38.82 grams per ton silver and 0.42 grams per ton gold; using a 5 percent zinc equivalent cutoff.

“The resource estimate has successfully increased the company’s confidence in the Stratmat deposit and added significant new tonnage, all very important for the next phase as Trevali advances its growth plans for the Bathurst Mining Camp” stated Dr. Mark Cruise, Trevali’s president and CEO.

Drill results from Stratman and metallurgical studies results are expected to be out in 2016.

Zinc and Polymetallic Production in South America

Santander Mine Production

The Santander zinc-lead-silver underground mine and mill complex is located 215 kilometers northeast of Lima in the Central Peruvian Polymetallic Belt. The 2,000 tonne per day operation includes more than 12 kilometers of underground development in the Magistral North, Magistral Central and Magistral South deposits via three separate portals and ramp systems.


Even in a challenging metals pricing market, Santander continues to be a revenue generating asset for Trevali. In 2015, production at Santander has consistently achieved higher than expected recoveries.

Following stellar third quarter production results in 2015, Trevali increased its 2015 metal production guidance at Santander to 50-52 million pounds payable zinc production at an average head grade of 4.2-4.4 percent zinc; 29-31 million pounds payable lead production at an average head grade of 1.8-2.1 percent lead; and 1,000,000 – 1,050,000 ounces of payable silver at an average grade of 1.5-1.8 ounces per ton silver.

Santander Expansion Potential

Significant potential exists to expand the current resource at Santander. The Magistral deposits remain open and downhole geophysics indicate that mineralization extends at least another 500 meters vertically. In addition, the recent discoveries of the Rosa and Fatima zones bear similar zinc grades to the Magistral deposits and higher lead-silver grades. The new zones are conveniently adjacent to the existing underground development and are now supplying mill feed.

Drill results, from continued exploration designed to test the deeper levels of the Fatima and Magistral Central zones, were announced in September 2015. All five drill holes intersected significant lead-silver-zinc mineralization and remain open for expansion. Highlights of the results include 42.1 metres of 8.3 percent zinc, 1.9 percent lead and 3.5 ounces per ton silver at Fatima-Central and 14.8 metres of 9 percent zinc, 0.5 percent lead, 2.0 ounces per ton silver at Fatima.

“We believe we have barely scratched the surface at Santander,” stated Cruise, “which geologically is already one of the larger-end members of the carbonate replacement deposit type. All of the currently known zones, including the former-producing Santander Pipe, remain open for expansion and we have multiple earlier-stage priority targets on our large property package that require future drill testing.”

The drill results are also beginning to prove up Trevali’s hypothesis that the Fatima and Magistral Central zones may coalesce at depth. More tonnes per vertical meter will allow Trevali continued access to high quality mill feed through cost-efficient mining. Further drill results are expected out by the end of 2015 and exploration work aimed at further establishing the resource model will continue in 2016.


Dr. Mark Cruise – President, CEO and Director

A base metal deposit specialist with 20-years project experience from grass-roots exploration through resource definition to permitting and production in Europe and the America’s on behalf of Pasminco Exploration, Anglo American and other companies. Mark completed his Ph.D. on the Irish zinc-lead orefield and was a member of Anglo American’s Lisheen Zinc-Lead Mine feasibility/technical team in Ireland that developed the 4,500 tpd mine.

Anna Ladd – Chief Financial Officer

Anna Ladd has more than 15 years of experience in financing and financial controls in the mining industry including responsibility for multiple large scale open pit and underground base and precious metal production units. Anna has served as VP Finance and CFO for a number of TSX-listed junior mining companies in addition to several mid-size to senior gold and base metal producers including Grande Cache Coal, Kinross Gold’s Fort Knox, Round Mountain and Kettle River operations and Vale Inco’s Thompson and Sudbury base metal operations.

Paul Keller – Chief Operating Officer

Paul Keller has more than 28 years of mine operations experience in Canada, most recently as Manager of Technical Services for a major Canadian mining contractor where he led a team of engineers and designers on various mining contracts for major mining companies. Paul began his career with Rio Algom Limited and has also worked in various management roles with Barrick Gold’s Hemlo mine in operations, engineering and maintenance.

Steve Stakiw – Vice-President of Corporate Communications

Geologist with over 20 years of mineral exploration industry, and research & finance market experience. Steve has held a senior management role with a leading mining research and investment publication and has consulted to resource-focused investment funds.

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