Trevali (silver-lead-zinc) gets press coverage. Looks hot and should be a mover starting quite soon.
bnamericas.com
Trevali, Glencore close to launch at Santander zinc project - Peru
Published: Thursday, August 6, 2009 15:53 (GMT-0400)More news from Peru
By Laura Superneau / Business News Americas
Completion
of an internal feasibility study for the Santander silver-lead-zinc
project in Peru is imminent and will be followed by the formalization
of a memorandum of understanding by project partners Trevali Resources and Glencore International, a Trevali spokesperson said.
"We're optimistic that we'll be able to enter into a formal
agreement with Glencore in the very near future, very imminently,"
corporate communications manager Steve Stakiw told BNamericas.
The deal involves Glencore running operations in a contract mining capacity and buying all the output at market prices.
Once the agreement is formal, Glencore will begin to move
equipment for a 2,000t/d concentration circuit to Santander from a
different silver-lead-zinc operation it runs nearby, Stakiw said.
Meantime, the internal feasibility study will be independently reviewed by Golder Associates, he added.
The project contemplates starting operations by re-crushing and
processing old tailings, of which there are several million tons
including 4Mt grading 2.5-3% zinc. Trevali was looking at the tailings
operation a couple of years ago, but put it on hold as zinc prices
collapsed, said Stakiw.
Trevali reported in June that it received permits from Peru's
energy and mines ministry (MEM) for the tailings operation after having
submitted the EIS in February 2008.
While tailings are being processed, the partners will prepare
Santander's hard rock deposits - Magistral north, central and south -
for open pit mining that will later transition to underground.
"Once things are moving forward on this partnership with
Glencore, we're going to be looking at many other opportunities as
well. It's a model that may work well and we'll be looking at
leveraging our exploration expertise and look at other projects, both
in Peru and internationally in the silver-lead-zinc realm," said
Stakiw.
Drilling is due to commence later this month to expand the three
Magistral deposits, which are open to the east and at depth. Trevali
also plans to drill a fourth zone called Puajanca, where historic
drilling uncovered mineralization to 200m, with a view to defining a
resource, he added.
A March 2009 estimate for the Magistral deposits by Golder
showed indicated resources of 5.3Mt grading 3.34% zinc, 1.27% lead and
38g/t silver, for contained metal of 390Mlb zinc (176,901t), 149Mlb
lead and 6.5Moz silver. Additional inferred resources amount to 2.2Mt
grading 2.92% zinc, 0.50% lead and 18g/t silver. Both used a 2% zinc
equivalent cutoff grade.
"We're optimistic that we'll be able to enter into a formal
agreement with Glencore in the very near future, very imminently," corporate communications manager Steve Stakiw
told BNamericas.
The deal involves Glencore running operations in a contract
mining capacity and buying all the output at market prices.
Once the agreement is formal, Glencore will begin to move
equipment for a 2,000t/d concentration circuit to Santander
from a different silver-lead-zinc operation it runs nearby, Stakiw said.
Meantime, the internal feasibility study will be independently
reviewed by Golder Associates, he added.
The project contemplates starting operations by re-crushing
and processing old tailings, of which there are several million tons including 4Mt grading 2.5-3% zinc. Trevali was
looking at the tailings operation a couple of years ago, but
put it on hold as zinc prices collapsed, said Stakiw.
Trevali reported in June that it received permits from Peru's
energy and mines ministry (MEM) for the tailings operation after having submitted the EIS in February 2008.
While tailings are being processed, the partners will prepare
Santander's hard rock deposits - Magistral north, central and south - for open pit mining that will later transition to underground.
"Once things are moving forward on this partnership with
Glencore, we're going to be looking at many other opportunities as
well. It's a model that may work well and we'll be looking at
leveraging our exploration expertise and look at other projects, both
in Peru and internationally in the silver-lead-zinc realm," said
Stakiw.
Drilling is due to commence later this month to expand the three
Magistral deposits, which are open to the east and at depth. Trevali
also plans to drill a fourth zone called Puajanca, where historic
drilling uncovered mineralization to 200m, with a view to defining a
resource, he added.
A March 2009 estimate for the Magistral deposits by Golder
showed indicated resources of 5.3Mt grading 3.34% zinc, 1.27% lead and
38g/t silver, for contained metal of 390Mlb zinc (176,901t), 149Mlb
lead and 6.5Moz silver. Additional inferred resources amount to 2.2Mt
grading 2.92% zinc, 0.50% lead and 18g/t silver. Both used a 2% zinc
equivalent cutoff grade. |
