The Caribou mine and mill in the Bathurst camp in New Brunswick. Credit: Trevali Mining
VANCOUVER – Trevali Mining Corp. released Q3 financial and operating results from its operations located in Canada, South America and Africa. Q3 zinc production came in at 106.8 million pounds payable, a new record for the company and a slight increase over the 105.2 million pounds payable produced in Q2 2019.
All-in sustaining costs for the quarter were at US$0.96 per pound zinc, a slight improvement over the US$1.00 per pound incurred in Q2. In addition to zinc, the company produced 13.6 million pounds of payable lead in the quarter and 0.3 million payable ounces of silver, both an increase over Q2.
With the release, Trevali indicated that it has launched a T90 business improvement program to target US$50 million in pre-tax annual efficiencies and reduce the all-in sustaining costs down to US$0.90 per pound zinc by 2022 with US$30 million identified by the end of Q3.
The company indicated that the Rosh Pinah RP2.0 feasibility study is on track for an initial investment decision by the end of Q1 2020. Trade off studies are underway. The currently operating Rosh Pinah mine is a 90% owned, underground operation in Namibia.
In addition, an estimated 18,000 meters of drilling is planned for Q4 to identify new mineral resources within trucking distance of the company’s currently operating mines.
Trevali has confirmed that it is on track to meet or exceed its 2019 production guidance of 361 million to 401 million pounds of payable zinc at all-in sustaining costs of US$0.99 to US$1.09 per pound. It expects the costs to be in the middle of the guidance range. In addition, the company expects to produce 44 million to 49 million lb. of payable lead and 1.32 million to 1.47 million oz. of payable silver this year.
The company’s 100% owned Restigouche zinc-lead-silver-copper-gold project in New Brunswick is host to a past-producing open pit with conceptual mine design and a trade-off study underway. Potential production from underground would be used to supplement the Caribou mill 35 km. away. Current measured and indicated resources at the project stand at 1.08 million tonnes at 5% zinc, 3.3% lead, 0.22% copper, 46.3g/t silver and 0.52g/t gold with additional inferred resources of 0.58 million tonnes at 6.1% zinc, 4.3% lead, 0.28% copper, 67.8g/t silver and 0.81g/t gold.
For more details, see www.Trevali.com.