Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

November 06, 2007 08:58 ET

Selwyn Resources Expands Underground Mineral Potential at Don Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 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, 100 drill holes have been completed or are in progress on Selwyn Project totalling 33,927.1 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-120 intersecting 15.81 metres true thickness of the Active Member grading 4.53% zinc and 1.62% lead including 4.89 metres grading 7.14% zinc and 2.71% lead

- DON-124 intersecting 19.74 metres true thickness of the Active Member grading 4.11% zinc and 1.45% lead including 1.31 metres grading 8.22% zinc and 4.70% lead

Don Deposit

One drill rig continues to expand the mineral potential of the Don deposit along the southeastern margin where no drilling had previously tested the favourable stratigraphy from hangingwall to footwall. DON-120 and DON-124 confirm the possible expansion of mineral potential to the southeast of the deposit with both drill holes intersecting well mineralized, zinc-lead bearing Active Member that correlates well with previous drilling in the Don deposit.



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From To Thickness Pb Zn Pb+Zn True Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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DON-113 638.10 644.00 5.90 2.81 8.34 11.15 2.31
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DON-119 260.60 277.50 16.90 1.34 4.52 5.86 13.32
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Including 267.20 277.50 10.30 1.78 5.58 7.36 8.12
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Including 271.50 275.50 4.00 2.40 7.54 9.94 3.15
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DON-120 276.10 300.70 24.60 1.62 4.53 6.15 15.81
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Including 288.00 300.70 12.70 2.33 5.83 8.16 8.16
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Including 288.00 295.60 7.60 2.71 7.14 9.85 4.89
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DON-124 291.60 344.30 52.70 1.45 4.11 5.56 19.74
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Including 291.60 295.10 3.50 1.37 6.12 7.49 1.31
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Including 317.40 342.20 24.80 2.10 6.04 8.14 9.29
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Including 338.70 342.20 3.50 4.70 8.22 12.92 1.31
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DON-126 68.60 85.50 16.90 1.31 4.60 5.92 10.86
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Including 79.20 85.50 6.30 1.97 6.27 8.24 4.05
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Including 76.50 80.70 4.20 2.27 7.34 9.60 2.70
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DON-128 428.80 459.30 30.50(i) Assays Pending for Active Member
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(i) denotes apparent thickness with true thickness reported upon receipt
and processing of assay results


DON-120 is 490 metres southeast of DON-119 and is a 405 metres step-out to the southeast of DON-042; which intersected a true thickness of 16.33 metres of well mineralized, zinc-lead Active Member grading 6.92% zinc and 2.62% lead including 3.88 metres grading 12.98% zinc and 6.95% lead (see December 11, 2006 news release). DON-124 is a 220 metre step-out to the southeast from DON-056; which intersected 13.40 metres true thickness grading 4.74% zinc and 1.43% lead including 4.80 metres grading 7.70% zinc and 2.56% lead (see June 14, 2007 news release).

DON-128 is a successful follow-up 200 metres down-dip of DON-124 and further enhances the continuity of zinc-lead mineralized Active Member along the southeastern margin of the Don deposit. Assays for this recently completed drill hole will be released pending receipt of results from the assay laboratory and results being verified through Selwyn's rigorous QAQC protocols. Note that drilling has already commenced on DON-132 that is targeting 200 metres down-dip of DON-128 to further test the mineral potential of the high-grade, underground target.

DON-113, although a narrow intercept of high-grade, zinc-lead Active Member, is currently the deepest intersection in the deposit area at a vertical depth from surface of 650 metres and correlates with DON-051 and DON-097; which are located 170 metres to the southeast and 220 metres to the northwest respectively. It is also on the same drill section as DON-109 that is located 370 metres updip and also intersected high-grade, zinc-lead mineralized Active Member.

Additional drilling is planned in this deep underground target area following review and updating of the detailed, 3D geological model. These new deep intercepts build strong confidence that the Don deposit remains open at depth for further expansion of the mineral potential. Note the assays for DON-051, DON-097, and DON-109 are as follows:

- DON-051 intersected a true thickness of 16.50 metres grading 5.95% zinc and 1.90% lead including 1.10 metres grading 11.23% zinc and 7.28% lead (see May 28, 2007 news release)

- DON-097 intersected a true thickness of 17.0 metres grading 5.55% zinc and 1.66% lead including 2.70 metres grading 7.54% zinc and 2.22% lead (see September 4, 2007 news release)

- DON-109 intersecting 14.10 metres true thickness grading 8.46% zinc and 3.57% lead including 4.50 metres grading 16.31% zinc and 8.15% lead in the Don deposit (see September 4, 2007 news release)

To date, 19 drill holes have been completed and/or are in progress on the Don deposit totalling 8,487.9 metres. One drill rig is working on expanding the known mineral resource within a target area of 700 by 700 metres by 20 metres that is predominantly below open-pit target limits. It is below the open-pit limits in the Don deposit where the zinc-lead mineralized Active Member is known to contain higher-grades such as exemplified in DON-074 that intersected 31.63 metres true thickness of the Active Member at a depth of 241.7 metres with a grade of 10.20% zinc and 3.91% lead including 4.30 metres grading 35.97% zinc and 16.01% lead (see July 21, 2007 news release).

The higher-grade target area is modeled to potentially contain 10 to 12 million tonnes of higher-grade material with a range of grades varying from 7.0% to more than 40.0% combined lead and zinc. The mineral potential of this target is outside of the known NI 43-101 compliant, Indicated mineral resource of 2,360,000 tonnes grading 5.15% zinc and 1.15% lead and Inferred mineral resource of 14,680,000 grading 4.17% zinc and 1.70% lead (see April 2, 2007 news release). This target is conceptual in nature as there has been insufficient drilling to define a 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 that it is uncertain if additional drilling will result in the target being delineated as a mineral resource.

Other

Three drill rigs continue to target the high-grade underground target of the Don East deposit, as well as working on expanding the known mineral resources. Drilling in Don Valley is expected to continue through November. Currently, assay results for 21 drill holes are awaited.

The April 2007 NI 43-101 compliant mineral resource estimation done by Independent Qualified Person Cliff Pearson, P.Geo., and Non-Independent Qualified Person John J. O'Donnell, P.Geo.; indicated that the various deposits in Don Valley contain an estimated aggregate Indicated mineral resource of 15,430,000 tonnes grading 4.29% zinc and 1.09% lead and an aggregate Inferred mineral resource of 98,450,000 tonnes grading 4.62% zinc and 1.22% lead (see April 2, 2007 news release). With completion of the current drilling program towards the end of November, the mineral resource inventory for these five deposits will be updated and new development plans formed.

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 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