Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

November 14, 2007 08:58 ET

Selwyn Resources Continues to Intersect Higher Grades in Don East Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 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 34,385.2 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-079 in the open-pit target intersected 14.84 metres true thickness grading 5.38% zinc and 1.87% lead, including 5.39 metres grading 10.49% zinc and 3.22% lead

- DON-114 in the underground target intersected 44.97 metres true thickness grading 4.55% zinc and 1.26% lead, including 3.94 metres grading 9.38% zinc and 2.45% lead

- DON-121 in the underground target intersected 19.42 metres true thickness grading 4.91% zinc and 1.33% lead, including 10.14 metres grading 6.21% zinc and 1.82% lead

Don East Underground Target

A total of 9 diamond drill holes have been completed and/or are in progress in the underground target area for a total of 7,654.1 metres. Three drill rigs are now working on the underground target identified earlier this summer in drill hole DON-106 (see September 4, 2007 news release) to enhance the mineral potential of this exciting new underground target area.



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True
From To Thickness Pb Zn Pb+Zn Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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DON-114 611.70 688.20 76.50 1.26 4.55 5.81 44.97
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Including 611.70 622.70 11.00 0.93 4.54 5.48 6.47
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Including 639.60 647.70 8.10 2.01 8.84 10.84 4.76
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Including 668.20 684.30 16.10 2.36 7.23 9.59 9.46
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DON-121 435.60 455.70 20.10 1.33 4.91 6.24 19.42
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Including 435.60 437.10 1.50 1.66 9.87 11.53 1.45
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Including 445.20 455.70 10.50 1.82 6.21 8.04 10.14
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DON-127 619.40 647.70 28.30(i) Active Member Assays Pending
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DON-129 534.30 547.10 12.80(i) Active Member Assays Pending
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(i) denotes apparent thickness with true thickness reported upon receipt
and processing of assay results


The high-grade zinc-lead mineralized Active Member in DON-114, is 226 metres northeast of DON-106 (see September 4, 2007 news release). DON-106 intersected a true thickness of 22.50 grading 8.09% zinc and 1.79% lead including 12.30 metres grading 11.13% zinc and 2.23% lead. DON-114 is also 295 metres northeast of DON-121; which also successfully intersected well mineralized, zinc-lead Active Member in the underground target. Both DON-114 and DON-121 demonstrate continuity of the higher-grade mineralization between the open-pit and underground target areas. It should also be noted that DON-121 is 388 metres down-dip of DON-103 (see October 29, 2007 news release) and 325 metres down-dip of DON-081 (reported below); noting that both DON-081 and DON-103 are located in the open-pit target.

The identification of thicker, higher-grade zinc-lead mineralization in the underground target at the Don East deposit, such as in DON-114 that intersected an overall true thickness of 44.97 metres of zinc-lead mineralized Active Member, now provides for an excellent opportunity to not only increase the grade of the mineral potential in the underground environment, but also the overall tonnage potential of this target.

Don East Open-Pit Target

A total of 35 diamond drill holes have been completed and/or are in progress in the open-pit target area for a total of 6,644.0 metres in the Don East deposit. It should be noted that open pit definition drilling has been temporarily halted pending the receipt of additional assay results from the analytical laboratories that are necessary to facilitate a proper evaluation of priority for drilling in and around the Don East deposit.

DON-079 and DON-081 are infill drill holes that were successful in confirming both the continuity of zinc-lead mineralized Active Member through the near surface expression of the Don East deposit and that there are consistently higher-grades being identified as infill drilling continues. Additional intercepts of higher grade, well mineralized Active Member in the open-pit continues to support the concept that there is a widespread, higher-grade core zone to the Active Member across the Selwyn Project. The Don East deposit remains open for expansion along strike and to depth.



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True
From To Thickness Pb Zn Pb+Zn Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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DON-079 167.60 183.30 15.70 1.87 5.38 7.25 14.84
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Including 176.30 182.00 5.70 3.22 10.49 13.71 5.39
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214.30 221.30 7.00 2.41 6.35 8.76 6.62
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Including 217.00 220.10 3.10 2.39 8.07 10.46 2.93
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DON-081 222.20 231.10 8.90 1.28 5.16 6.44 6.29
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Including 222.20 228.60 6.40 1.38 5.81 7.19 4.53
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Including 222.20 224.70 2.50 2.34 10.26 12.60 1.77
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Structural repetition of the mineralization in drill hole DON-079 within the open-pit target resembles a similar repetition in the upper part of the HC West deposit seen in DON-104 (see October 31, 2007 news release). Structural duplication in an open-pit target has the added benefit of significantly increasing the mineral potential of well mineralized, zinc-lead Active Member in the near-surface environment).

Recent shallow drilling continues to expand the mineral potential of the Don East deposit well beyond the April 2007, NI 43-101 compliant, Inferred mineral resource area that contains 24,710,000 tonnes grading 5.15% zinc and 1.15% lead (see April 2, 2007 news release). The north-westerly bounds of the continuously mineralized zinc-lead Active Member in the Don East deposit has doubled from 900 to 1,800 metres and successfully tested a continuous north-easterly, down dip length of 1,100 metres. The target for zinc-lead mineralization in the Don East deposit is conceptualized to contain 35 to 55 million tonnes within an area of approximately 2,000 by 1,000 metres and having an average thickness of 15 metres with base metal grades ranging from 4.8 to more than 12.0% 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.

Drilling in Don Valley is expected to continue through November. Currently, assay results for 9 drill holes are awaited.

Note that all discussion of previous NI 43-101 compliant Indicated and Inferred mineral resources are referenced in the April 2, 2007 news release that discusses the 2007 NI 43-101 compliant mineral resources and the subsequent report written by Independent Qualified Person Cliff Pearson, P.Geo., and Non-Independent Qualified Person John. J. O'Donnell, P.Geo., for the Selwyn Project. Any areas discussed as possessing mineral potential are conceptual and not defined through drilling based upon a detailed geological model. Further definition drilling is required prior to discussing mineral potential as an accepted NI 43-101 mineral resource and it is uncertain if additional drilling will result in the target being delineated as a mineral resource.

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 analyzes are conducted by wet fire assay and at ACME, silver and base metal analyzes 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) (FAX)
    Email: info@selwynresources.com
    Website: www.selwynresources.com