Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

November 08, 2007 08:58 ET

Selwyn Resources Announces Additional Higher-Grades in HC West Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to provide an update on recent drilling activities in the wholly-owned Don Valley area of the Selwyn Project. The current drilling is focusing on the 8.0 kilometre length of Active Member between the Don and HC deposits and is continuing to expand the high-grade zinc-lead mineral potential both in the open pit environment and at depth in Don Valley. To date, 101 drill holes have been completed or are in progress on Selwyn Project totalling 33,860.7 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-099 intersected 15.10 metres true thickness in the open-pit target grading 5.85% zinc and 2.06% lead including 2.20 metres grading 13.38% zinc and 4.40% lead

- DON-112 intersected 8.57 metres true thickness in the open-pit target grading 8.12% zinc and 2.28% lead including 3.05 metres grading 16.84% zinc and 5.12% lead

- DON-118 intersected 9.89 metres true thickness in the open-pit target grading 6.05% zinc and 1.69% lead and 4.40 metres grading 7.27% zinc and 2.29% lead

HC West Open Pit Target

A total of 15 diamond drill holes have been completed in HC West deposit open-pit target area for a total of 3,498.6 metres. Drilling on this open-pit target has been temporarily halted pending the receipt of further assay results from the analytical laboratories that are necessary to facilitate a proper evaluation of priority for drilling in and around the HC West deposit.

High-grade zinc-lead mineralized Active Member has now been successfully intersected over 5.1 kilometres from the Don deposit to the HC West deposit. With continuing high-grade, zinc-lead mineralized Active Member in the near surface environment being delineated in the HC West deposit, there is excellent potential to increase the grade of the mineral potential. This was also recently exemplified in the October 29, 2007 and November 7, 2007 news releases about the Don East deposit.



-----------------------------------------------------------------------
True
Thick- Thick-
From To ness Pb Zn Pb+Zn ness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
-----------------------------------------------------------------------
DON-099 150.10 165.20 15.10 2.06 5.85 7.91 15.10
-----------------------------------------------------------------------
Including 150.10 152.30 2.20 4.40 13.38 17.78 2.20
-----------------------------------------------------------------------
DON-100 118.60 124.40 5.80 1.97 5.12 7.07 5.74
-----------------------------------------------------------------------
DON-105 55.10 63.20 8.10 1.63 5.42 7.06 7.79
-----------------------------------------------------------------------
DON-112 64.00 72.70 8.70 2.28 8.12 10.40 8.57
-----------------------------------------------------------------------
Including 68.60 71.70 3.10 5.12 16.84 21.96 3.05
-----------------------------------------------------------------------
DON-118 308.00 317.90 9.90 1.69 6.05 7.74 9.89
-----------------------------------------------------------------------
Including 315.00 317.90 2.90 2.30 7.31 9.62 2.90
-----------------------------------------------------------------------
Including 312.40 316.80 4.40 2.29 7.27 9.55 4.40
-----------------------------------------------------------------------


DON-112 is located 150 metres east of DON-111 (see October 23, 2006 news release) that was the first high grade drill hole identified in the open pit target at the HC West. DON-111 (see October 31, 2007 news release) is an important intersection because it continues to demonstrate that there is potential for continuity of the higher-grade mineralization across large aerial extent in both the open-pit and underground targets of the Don Valley rather than it being localized in individual zinc-lead deposits.
The higher-grade zinc-lead mineralized Active Member from the HC west open-pit target in DON-112 and DON-118 is approximately 3.1 kilometres from the two high-grade targets in the Don East deposit, exemplified by DON-103 (see October 29, 2007 news release). DON-103 intersected 15.76 metres true thickness grading 10.41% zinc and 3.96% lead including 1.30 metres grading 34.07% zinc and 8.91% lead.

Another exciting aspect of the higher-grade zinc-lead mineralization in the HC West deposit is that the intersection in DON-118 is starting to develop into a possible underground scenario that could be below any conceptual open-pit infrastructure. Additional drilling is required in this area of the HC West deposit to further test the mineral potential of any possible underground target; noting that this area will be a high-priority for follow-up in 2008.

DON-112 is also 170 metres northeast of DON-104 and 150 metres southeast from DON-018. DON-112 is located 440 metres east of DON-037. Intercepts for DON-018, DON-022, DON-037, DON-104, and DON-111 include the following:

- DON-018 intersected 10.60 metres true thickness grading 5.19% zinc and 1.21% lead including 1.70 metres grading 15.64% zinc and 3.86% lead (see October 23, 2006 news release)

- DON-022 intersected 8.10 metres true thickness grading 6.02% zinc and 1.73% lead including 2.67 metres grading 12.33% zinc and 3.07% lead within (see October 23, 2006 news release)

- DON-037 intersected 20.40 metres true thickness grading 4.84% zinc and 1.37% lead including 5.30 metres grading 9.97% zinc and 3.25% lead (see December 11, 2006)

- DON-104 intersected two structurally duplicated Active Member intercepts including 13.30 metres true thickness in the open-pit target grading 5.47% zinc and 1.25% lead and 3.20 metres grading 8.28% zinc and 2.87% lead (see October 31, 2007 news release)

- DON-111 intersected 16.50 metres true thickness in the open-pit target grading 6.93% zinc and 2.08% lead including 3.40 metres grading 13.59% zinc and 4.30% lead (see October 31, 2007 news release)

DON-099, DON-100 and DON-105 are infill drill holes that were successful in confirming the continuity of zinc-lead mineralized Active Member through the near surface expression of the HC West deposit. The HC West deposit remains open for expansion along strike and to depth.

Recent drilling in the HC West deposit has increased the southeasterly bounds of the continuously mineralized zinc-lead Active Member by 300 metres from 1,000 to 1,300 metres. The mineralization of the HC West deposit remains open for expansion of the mineral potential to the southeast as a 1,080 metre gap remains between it and the HC deposit to the southeast. The target for zinc-lead mineralization in the HC West deposit is conceptualized to contain 30 to 35 million tonnes within an area of approximately 1,300 by 700 metres and having an average thickness of 12 metres with base metal grades ranging from 3.7 to more than 16.0% combined lead and zinc. The target requires additional drilling to define the mineral resource and it is unknown if drilling will define a mineral resource. Further definition drilling is required prior to discussing mineral potential as an accepted NI 43-101 mineral resource classification and it is uncertain if additional drilling will result in the target being delineated as a mineral resource.

Other

One drill continues to target the high-grade underground target of the Don deposit and three drills continue to target the high-grade underground target of the Don East deposit. Drilling in Don Valley is expected to continue through November. Currently, assay results for 13 drill holes are awaited. Shortly, the Company will provide an update on engineering and environmental baseline work completed in this year's $25M program.

The Selwyn Project exploration program is being reviewed by Vice President Exploration, Mr. Jason Dunning, M.Sc., P.Geo. The onsite activities for the Selwyn Project are directed by Exploration Manager, John J. O'Donnell, P.Geo. Both Mr. Dunning and Mr. O'Donnell are Qualified Persons within the meaning of National Instrument 43-101. All assay data has been through internal validation of quality assurance and quality control. Selwyn has established a sampling and assay control program with blind insertion of assay blanks, standards and duplicates for the Selwyn Project; however, it should be noted that there is also a quality control and quality assurance program in place at International Plasma Laboratories ("iPL") and ACME Analytical Laboratories Ltd. ("ACME") that includes blanks, duplicates and standards. At iPL, base metal analyses are conducted by wet fire assay and at ACME, silver and base metal analyses are conducted by a 17-element, four-acid digestion, ore-grade ICP-AES technique.

Selwyn's focus is the exploration of its properties that make up the Selwyn Project in the Yukon, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for the large scale production of zinc and lead, at a time when major new mines are needed to ensure adequate future zinc mine supply.

This press release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control and actual results may differ materially from the expected results. Additional drilling is required to confirm the potential of the new discovery areas and expansions of the current resource areas and the extension of the higher grade deep mineralization to depth. Furthermore, there is no assurance that the resources being defined can be developed as an economically attractive mine, and there are many uncertainties associated with permitting and other factors that could delay such development.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Selwyn Resources Ltd.
    Dr. Harlan Meade, President and CEO
    (604) 682-5474 or Toll Free: 1-877-682-5474
    International Toll Free: 1-800-8682-5474
    or
    Selwyn Resources Ltd.
    Jasmin TamDoo, Manager of Investor Communications
    (604) 682-5474 or Toll Free: 1-877-682-5474
    International Toll Free: 1-800-8682-5474
    (604) 682-5404 (FAX)
    Email: info@selwynresources.com
    Website: www.selwynresources.com