NEW BRUNSWICK – Vancouver-based Trevali Mining Corp. has completed the acquisition of Maple Minerals, giving Trevali ownership of the 3,000-t/d Caribou mine and mill complex in the Bathurst Mining Camp. The Caribou site is also home to a metallurgical and geochemical laboratory and permitted tailings management facility.
Trevali issued 20 million shares to Maple Minerals shareholders, making the implied value of the transaction $24 million as on May 2012. A closure bond of $4.67 million is currently in place.
Trevali has been examining two nearby properties that might someday supply feed for the Caribou mill. The Stratmat property hosts two unmined deposits and the depleted Boundary deposit. Stratmat has an inferred resource of 5.52 million tonnes grading 6.11% Zn, 2.59% Pb, 0.40% Cu and 42.21 g/t Ag using a 5% ZnEq cut-off grade. The undeveloped Halfmile deposit has an indicated resource of 6.26 million tonnes at 8.13% Zn, 2.58% Pb, 0.22% Cu and 30.78 g/t Ag, plus 6.08 inferred tonnes at 6.69% Zn, 1.83% Pb, 0.14% Cu and 20.51 g/t Ag.
A positive preliminary economic assessment was completed for the Halfmile property in October 2010. Some of this information is available in the corporate presentation at Trevali.com.