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Abstract
(Marketwire - Jan. 20, 2010) - Trevali Resources Corp. (CNSX:TV)(PINK SHEETS:TREVF)(FRANKFURT:4TI) ("Trevali" or the "Company") is pleased to announce that the latest drill results from its 2009 - 2010 resource expansion program have intersected the thickest and highest-grade intercepts to date at the Magistral North deposit on the Santander Silver-Lead-Zinc mine project in west-central Peru. Additionally, exploration continues to expand polymetallic mineralization at the Puajanca Zone to vertical depths of 100 metres. Mineralization remains open in all three Magistral deposits, the Puajanca zone and the past-producing Santander deposit, and numerous high-priority targets remain to be tested on the Company's large, 100%-owned land package.
A recently completed independent resource estimate of the three Magistral deposits reviews a total Indicated Mineral Resource of 5,298,000 tonnes with an average grade of 3.34% zinc, 1.27% lead and 38g/t silver (using a 2% ZnEQ(i) cut-off grade) - for a contained metal inventory of 390 million lbs zinc, 149 million lbs lead and 6.5 million ozs silver in the Indicated category. An additional Inferred Mineral Resource of 2,244,000 tonnes grading 2.92% zinc, 0.50% lead and 18g/t silver was also reviewed in the three deposits using the same cut-off grade - for contained metals of 144 million lbs zinc, 25 million lbs lead and 1.3 million ozs silver. All three Magistral bodies remain open at depth and to the East.
(i) ZnEQ = ((Ag Price(g) x Ag Recovery x Ag Grade) + (Pb Price(t) x Pb Recovery x (Pb Grade(%)/100)+(Zn Price(t) x Zn Recovery x (Zn Grade(%)/100)))/Zn Price(t). Golder utilized the three year rolling average price for all three metals. Price for silver is per gram ($0.43339) and that for Pb ($1,983) and Zn ($2,742) is per tonne. A recovery of 85% was applied to Ag, 94% for Pb and 91% for Zn based upon Trevali's metallurgical testwork. A 2% ZnEQ(i) cut-off grade is the nominal base case estimated grade of material that can be mined and processed considering all applicable costs.