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Trevali acquires Mining Lease for former Restigouche Zinc-Lead-Silver Mine in New Brunswick
Trevali acquires Mining Lease for former Restigouche Zinc-Lead-Silver Mine in New Brunswick.
About this update from Trevali Mining Corp.
[{"type":"text","content":"\n \n \n Trevali acquires Mining Lease for former Restigouche Zinc-Lead-Silver Mine in New Brunswick\n \n \nTrevali acquires Mining Lease for former Restigouche Zinc-Lead-Silver Mine in New Brunswick\n\nFast-track production plan to provide supplemental feed to Caribou Mill with potential to bolster mill throughput above nameplate design and increase run-of-mine head grades\n\n \n VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 27, 2017) - Trevali Mining Corporation (\"Trevali\" or the \"Company\") (TSX:TV)(LMA:TV)(OTCQX:TREVF)(FRANKFURT:4TI) announces that it has received the Mining Lease for the former Restigouche zinc-lead-silver mine located approximately 20-km west-southwest of the Company's Caribou mine in the Bathurst Mining Camp of New Brunswick. Furthermore, it has entered into a Limited Environmental Liability Agreement (\"Agreement\") with the Province of New Brunswick (\"Province\") regarding historic environmental liabilities (\"Historic Liabilities\"). Under the Agreement, Trevali will be responsible for all environmental liability and reclamation costs associated with the Restigouche mine on closure, other than in respect to any historic liabilities.\n In keeping with the Company's corporate philosophy to minimize environmental impact, Trevali has agreed to allow the Province the option to store and dispose of Restigouche mine waste rock at the Caribou site, thereby providing the Province with a lower-cost and fast-track reclamation solution for the Restigouche site. The Agreement is based upon a report entitled \"Program for the Protection, Reclamation, and Rehabilitation of the Environment\" (\"Reclamation Plan\") prepared by Stantec Consulting Ltd. and submitted to, and approved by, the New Brunswick Department of Energy and Resource Development.\n HIGHLIGHTS OF THE ACQUISITION\n \n \n Provides Trevali with additional feed source of approximately 500-800 tonnes-per-day to support Caribou production with average head grades anticipated to be approximately 5.5-6% Zn, 4-4.5 % Pb and 70-75 g/t Ag (based on a preliminary internal resource estimation)1.\n Provides an additional source of waste backfill for the Caribou mine underground workings and reduces the Province's liability at the Restigouche site.\n From a social and sustainability perspective – near-term creation of up to an additional 50-60 full-time e...