TORONTO (miningweekly.com) – Zinc-focused base-metals development company Trevali Mining on Thursday announced results of a Canadian National Instrument 43-101-compliant resource update for its Caribou deposit, in New Brunswick, adding copper and gold to the resource and increasing both the tonnage and overall zinc-equivalent grade.

Using a 5% zinc-equivalent cutoff, the estimate prepared by consulting engineers SRK Consulting Canada returned 7.23-million tons grading 6.99% zinc, 2.93% lead, 0.43% copper, 84.43 g/t silver and 0.89 g/t gold in the measured and indicated categories and an additional 3.66-million tons grading 6.95% zinc, 2.81% lead, 0.32% copper, 78.31 g/t silver and 1.23 g/t gold in the inferred category.

The deposit also contains potentially significant copper and gold mineralisation. Trevali said data analysis indicated the gold might be underestimated as it was not routinely analysed in historic drill holes.

Of the 4 136 assay intervals in the drill hole database that are located within a lens, only 963 samples were assayed for gold. The average of these 963 samples is 1.67 g/t gold.

"This resource estimate is an important milestone for Trevali and our growth plans for the Bathurst mining camp. Besides the important addition of gold and copper to the estimate, the study has highlighted the very significant exploration potential of the property," Trevali president and CEO Dr Mark Cruise said.

The deposit remains open for expansion at depth and along strike, and the company said it considers more exploration potential excellent.

The Caribou property is a working, brownfield industrial site with extensive surface infrastructure, including a modern concentrator, office/dry complex, mechanical shop, metallurgical and geochemical laboratory, and a permitted tailings treatment facility.

Extensive underground workings are accessed by both shaft and ramp, and include many developed levels and stopes that could be rapidly and cost effectively brought on-line.

The company has other zinc-focused properties in Canada and Peru.

The company’s stock closed at C$1.13 apiece on the TSX on Thursday afternoon.