Trevali Provides an Update on Search and Rescue Efforts at its Perkoa Mine in Response to Flooding Event and Suspends Perkoa Production Guidance
VANCOUVER, BC, April 21, 2022 /CNW/ - Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) (Frankfurt: 4TI) provides an update on search and rescue efforts at the Perkoa Mine in Burkina Faso following intense rainfall that occurred in the early morning of April 16, 2022 and resulted in a flash flood that breached protective berms surrounding the open pit.
Eight workers remain unaccounted for following the evacuation of the underground area of the mine and search and rescue efforts continue. Mining and milling operations at Perkoa will remain suspended for the foreseeable future and the Company is working closely with Burkinabe authorities as it investigates the cause of the flood event following heavy rainfall of approximately 125 mm of rain that fell in less than an hour.
Trevali's senior leaders, including Ricus Grimbeek, President and Chief Executive Officer, Derek du Preez, Chief Operating Officer, and Richard Weishaupt, Senior Vice President, Health, Safety, Environment & Community, have travelled to the Perkoa Mine site and are conducting site and area inspections, an inspection of accessible areas of the underground mine, and will have conversations with the families of the eight missing workers.
"Our primary focus has been, and will remain, the search and rescue of the missing eight miners and our thoughts are with the families, friends, and colleagues who have been impacted," said Ricus Grimbeek, President and CEO. "In the days following the flash flood, we have been working tirelessly with the support of various government agencies and officials who have made numerous visits to the mine site and are working in coordination with rescue efforts. We have also received tremendous support from the extended mining community in Burkina Faso, who have volunteered highly trained personnel and equipment for use in the search and rescue."
"The health and safety of our workers is our top priority, and all efforts are being made to extend the search into the lower levels of the Perkoa Mine. We will not cease our efforts until we have found our missing colleagues."
In the days following the flash flood, Perkoa employees and Trevali management have continued to work with Byrnecut, Trevali's mining contractor at the Perkoa Mine, to support the families and community members of the missing workers. Management from both companies are in daily contact with family members of the missing eight workers to provide assistance, support, and updates on the rescue operation.
After initial assessment, the following has been determined:
- A heavy rainfall event with approximately 125 mm of rain in less than an hour, as reported by the Ministry of Mines and Quarries in an April 19 Communique, occurred the morning of April 16 in the region of the Perkoa Mine, triggering local flash floods. This rain event occurred outside the usual rainy season, which is June to September.
- The open pit of the Perkoa Mine was surrounded by two separate berms that were breached by the flash flood. Water entered the open pit and subsequently went into the underground mine. As the water entered the mine, electricity and communications underground were lost.
- While the majority of workers underground or preparing to enter the mine were able to safely evacuate, eight workers remain unaccounted for. There has been no communication with these workers since soon after the evacuation order was given.
Subsequent to evacuation:
- After flooding stopped, the water level in the mine settled at approximately Level 520 (520 metres from surface). The search above this level was completed as of April 16, 2022. Mine depth is to Level 710.
- Personnel from the Burkinabe Ministry of Mines and Quarries, the National Emergency Rescue, Military Civil Construction, the Governor of Central West Region, and High Commissioner of Réo have made numerous visits to the mine site and are working in coordination with rescue efforts.
- Communications have been re-established to Level 520 and electrical power is re-established to Level 430.
The Company will provide further details on progress of the mine rescue and site investigation as more information becomes available.
All underground mining and surface activities at Perkoa remain suspended as the search and rescue operation continues and the Company and authorities investigate the flood event. The current suspension, investigation and review of future mining at the Perkoa Mine will likely result in reduced zinc production in 2022 for the Company relative to previously released annual guidance. The requirements for infrastructure refurbishment and construction linked to repairs and rehabilitation at the mine remain unknown, as does the timing for a potential restart of mining and processing activities. Underground development activities will only recommence once it has been determined that this can be done safely. As the Company's investigation progresses and the assessment of the underground areas advances, we will provide additional detail on the estimated impact on mining operations. In the meantime, we are suspending our production and cost guidance for 2022 as it relates to Perkoa.
Trevali is a global base-metals mining Company headquartered in Vancouver, Canada. The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso, the 90%-owned Rosh Pinah Mine in Namibia, and the wholly owned Caribou Mine in northern New Brunswick, Canada. In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada. Trevali also owns an effective 44% interest in the Gergarub Project in Namibia. The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.
The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website (www.trevali.com) and to Canadian regulatory filings on SEDAR at www.sedar.com.
This news release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statement are published, and the Company assumes no obligation to update any forward-looking statement, except as required by law. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the suspension of mining and milling operations at Perkoa, the rescue and recovery efforts at Perkoa, the efficacy of pumping, de-watering and restoration of electrical power and communications at the lower levels of Perkoa, the results of any investigation of the flooding incident, the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas, the effect of the flooding on the cost of production at Perkoa, the length of time before underground mining operations can be recommenced safely at Perkoa and the effect of the suspension on the Company's results of operations and metal production. As well, forward looking statements relate to the Company's growth strategies, the continued success of mineral exploration, the content, cost, timing and results of future exploration programs and life of mine expectancies, Trevali's ability to fund future exploration activities, estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production and capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses and title disputes or claims. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities, including the inherent uncertainty of mineral exploration and estimations of exploration targets; changes in project parameters as plans continue to be refined; future prices of zinc, lead, silver and other minerals and the anticipated sensitivity of our financial performance to such prices; possible variations in ore reserves, grade or recoveries; dependence on key personnel; potential conflicts of interest involving our directors and officers; labour pool constraints; labour disputes; availability of infrastructure required for the development of mining projects; delays or inability to obtain governmental and regulatory approvals for mining operations or financing or in the completion of development or construction activities; counterparty risks; increased operating and capital costs; foreign currency exchange rate fluctuations; operating in foreign jurisdictions with risk of changes to governmental regulation, including any new or ongoing decrees and regulations issued by any governmental authority in response to the COVID-19 pandemic; compliance with governmental regulations; compliance with environmental laws and regulations; land reclamation and mine closure obligations; challenges to title or ownership interest of our mineral properties; maintaining ongoing social license to operate; impact of climatic conditions on the Company's mining operations; corruption and bribery; limitations inherent in our insurance coverage; compliance with debt covenants; competition in the mining industry; our ability to integrate new acquisitions into our operations; cybersecurity threats; litigation; and other risks of the mining industry including, without limitation, other risks and uncertainties that are more fully described in the Company's annual information form, interim and annual audited consolidated financial statements and management's discussion and analysis of those statements, all of which are filed and available for review under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Trevali provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
SOURCE Trevali Mining Corporation
Investor Relations Contact: Jason Mercier - Director, Investor Relations, Email: [email protected], Phone: +1 (778) 655-6084
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