VANCOUVER (miningweekly.com) – The TSX-listed stock of base metals producer Trevali Mining has risen to a new 52-week high after the company reported positive exploration results from its Santander mine, in Peru.

Vancouver-based Trevali reported results from twelve new drill holes of the ongoing 2016 underground exploration drilling programme, intersecting and extending both the Magistral Central and Fatima zones, while also discovering new massive sulphide replacement mineralisation in the hanging wall to the Magistral Central deposit.

Some of the highlight intersections include 16.6 m grading 13.8% zinc (Zn), 4.6% lead (Pb) and 3.2 oz/t silver (Ag), as well as 15.9 m grading 10.2% Zn and 2 oz/t Ag at Magistral Central; 24.2 m grading 5.6% Zn and 2.9 oz/t Ag at Fatima; and 11.4 m grading 4.4% Zn, 1.7% Pb and 2.7 oz/t Ag at New Central Oyon zone.

The aim of the current programme is to further extend the down-depth expression of the Magistral Central deposit and associated Fatima vein zones, while also testing for the potential presence of hanging-wall-hosted ‘Oyon’ mineralisation, similar to that discovered at Magistral North early this year, the company advised.

"These latest results from our successful ongoing 2016 exploration drill programme remain highly encouraging and continue to add very tangible, near-term value to the Santander zinc mine, where our experienced operations team has a proven track record of translating exploration successes into mill feed in a timely manner," stated president and CEO Dr Mark Cruise.

Critically, Trevali revealed that more than 90% of the holes returned zinc grades, over mineable intervals, materially higher than those in current mining operations, where run-of-mine head grades typically range between 4% and 4.5% zinc. All mineralisation remains open for expansion and further underground drilling is in progress, Trevali stated.

Trevali’s TSX-listed stock rose 6.25% on Wednesday to C$1.02 apiece, boosted in part by renewed investor interest in zinc producers on the back of a tightening zinc market.