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Trevali Mining announced the discovery of massive sulfides down plunge of the current resource at its Caribou project in New Brunswick.
Drill Tracker Weekly is not exclusive to Resource Investing News and is published with permission from Mackie Research Capital Corporation. It highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.
Price: $1.10
Market cap: $313 million
Cash estimate: $24 million
Project: Caribou
Country: New Brunswick, Canada
Ownership: 100 percent
Resources: 7.23 Mt @ 6.99% Zn, 2.93% Pb, 0.43% Cu, 84.4 g/t Ag, 0.90 g/t Au measured and indicated
Project status: PEA Completed (2014), Resource Expansion
- Trevali Mining announced the discovery of massive sulphides down-plunge of the current resource on its 100% owned Caribou project in the Brunswick Mining District in New Brunswick. Trevali acquired the past producing Caribou Mine and mill complex in 2012 for $22 million in an all share merger. The facilities include a 3,000 tpd processing plant and permitted tailings facility.
- Highlights from the 200 metre step-out hole returned 50.9 metres of massive sulphide grading 5.08% Zn, 1.76% Pb, 0.37% Cu, 59 g /t Ag and 1.63 g /t Au starting at a vertical depth of 550 metres. A copper zone lies immediately beneath the massive sulphide zone grading 1.4% Cu, 0.8% Zn, 24.65 g/t Ag and 0.2 g/t Au over 2.3 metres suggesting lower ‘feeder type stringer” mineralization. A second previously released hole half way between the resource and BR-1014A returned 17.9 metres grading 4.4% Zn, 1.7% Pb, 0.4% Cu, 61.7 g/t Ag and 2.1 g/t Au.
- The Company also controls 100% interests in two other nearby zinc deposits with indicated and inferred resources which the Company believes may also may able to utilize the mill facilities at Caribou. The flowing summarized the Trevali Resources in the Brunswick Camp:
- Caribou (Measured and Indicated): 7.23 Mt @ 6.99% Zn, 2.93% Pb, 0.43% Cu, 84.4 g/t Ag, 0.90 g/t Au
- Halfmile (Indicated): 6.26 MT @ 8.13% Zn, 2.58% Pb, 0.22% Cu, 30.8 g/t Ag
- Stratmat (Inferred): 5.5 Mt @ 6.11% Zn, 2.59% Pb, 0.4% Cu, 54 g/t Ag, 0.6 g/t Au
Development history (discovered 1956): Open Pit mining oxide zone in 1970. Intermittent underground production to 1974, as well as in 1989, 1990, 2007. Trevali bought Maple Minerals in 2012 which had purchased the mine and mill facility out of bankruptcy.
Current holes: 50.9 metres @ 5.08% Zn, 1.76% Pb, 0.37% Cu, 59 g/t Ag, 1.63 g/t Au including: 5 metres @ 7.28% Zn, 2.41% Pb, 0.38% Cu, 82 g/t Ag, 2.09 g/t Au
Risks Analysis
Data contained in DRILL TRACKER WEEKLY is based on early stage exploration activity. The results are obtained at the very early stages of exploration and therefore, individual results may not be reproducible with additional trenching or drilling, nor may the results ultimately lead to the discovery of an economic deposit. Delineation of a resource body requires an extensive data gathering exercise according to guidelines set out in National Instrument 43-101 before investors can be reliably assured of a competent body of mineralization that may be of economic interest. DRILL TRACKER WEEKLY is designed to highlight individual trench or drill results, which stand out as being materially anomalous and are particularly worth of note – a type of early warning flag for a particular property that warrants further attention. Hence, DRILL TRACKER WEEKLY does not provide a recommendation to buy, sell or hold a specific equity – it is an information reference source to help quantify the meaning and relevance of early stage exploration results.
Relevant Disclosures Applicable to: Drill Tracker Weekly
1. The research analyst or a member of the analyst’s household owns and/or has options to acquire shares of the subject issuer. At the date of this release, Wayne Hewgill, owns no shares in any companies in this report
2. Trevali Mining Corp. is covered at Mackie Research Capital Corporation by analyst Peter Campbell
- Within the last 3 years, Mackie Research Capital Corporation has managed or co-managed an offering of securities by the subject issuer.
- Within the last 3 years, Mackie Research Capital Corporation has received compensation for investment banking and related services from the subject issuer.
- In September 2014, an analyst from Mackie Research Capital Corporation visited Trevali’s Santander Mine in Peru. Commercial travel expenses to and from site were paid by Mackie Research Capital Corporation.
- In October 2013, an analyst from Mackie Research Capital Corporation visited Trevali’s Santander Mine in Peru. Commercial travel expenses to and from site were paid by Mackie Research Capital Corporation.
- In September 2012, an analyst from Mackie Research Capital Corporation visited Trevali’s New Brunswick assets. Commercial travel expenses to and from site were paid by Mackie Research Capital Corporation.
3. Foran Mining Corp. is covered at Mackie Research by analyst Peter Campbell
- • In February 2013, an Analyst from Mackie Research Capital Corporation visited Foran’s McIlvenna Bay Project site. Commercial travel expenses to and from site were paid by Mackie Research Capital Corporation.
Analyst Certification
I, Wayne Hewgill certify that the information in this report is sourced through public documents that are believed to be reliable but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report. This report makes no recommendations to buy, sell or hold. Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.
Securities Disclosure: Trevali Mining is a client of the Investing News Network. This article is not paid-for content.