Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

December 11, 2007 08:58 ET

Selwyn Resources Expands Mineral Potential at HC West Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 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, 103 drill holes have been completed or are in progress on Selwyn Project totalling 37,685.6 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-108 intersected 25.50 metres true thickness in the open-pit target grading 4.82% zinc and 1.22% lead, including 2.60 metres grading 9.72% zinc and 3.37% lead

- DON-116 intersected 10.80 metres true thickness in the open-pit target grading 5.61% zinc and 1.46% lead, including 2.50 metres grading 8.22% zinc and 1.90% lead

HC West Open Pit Target

A total of 15 diamond drill holes have been completed in the HC West deposit open-pit target area for a total of 3,498.6 metres. Drilling on this open-pit target had been previously halted pending the receipt of further assay results from the analytical laboratories; however, all assay results have now been received and a thorough evaluation of the mineral potential of the HC West deposit will commence shortly.

Higher-grade zinc-lead mineralized Active Member has now been successfully intersected over 5.1 kilometres in Don Valley from the Don deposit to the HC West deposit. With 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 potential increase to the grade of the mineral potential has also recently been exemplified in the October 29, 2007 and November 14, 2007 news releases for drill holes in the Don East deposit; in the November 6, 2007 news release about the Don deposit; and in the November 8, 2007 news release about the HC West deposit.



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From To Thickness Pb Zn Pb+Zn True
Drill Hole (m) (m) (m) (%) (%) (%) Thickness (m)
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DON-092 208.50 212.70 4.20 1.45 6.13 7.58 4.10
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DON-108 144.30 171.30 27.00 1.22 4.82 6.04 25.50
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Including 144.30 151.40 7.10 1.54 7.18 8.72 6.70
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Including 160.10 171.30 11.20 1.79 6.44 8.23 10.60
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Including 168.60 171.30 2.70 3.37 9.72 13.09 2.60
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DON-116 140.80 154.50 13.70 1.46 5.61 7.07 10.80
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Including 140.80 144.00 3.20 1.90 8.22 10.12 2.50
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Including 148.50 154.50 6.00 1.71 6.82 8.52 4.70
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DON-125 96.10 99.30 3.20 2.38 7.82 10.20 3.20
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DON-092, DON-108, DON-116, and DON-125 are infill and deposit edge drill holes that were successful in confirming the continuity of zinc-lead mineralized Active Member through the near surface expression of the gently dipping HC West deposit. The HC West deposit remains open for expansion of the mineral potential along strike and to depth; notably within the undrilled 1,080 metre gap to the southeast towards the HC deposit.

DON-108 and DON-116 are located 400 and 475 metres south and southeast of DON-018 (see October 23, 2006 news release) respectively; which was the first high grade drill hole identified in the open pit target at the HC West, and continues to demonstrate that there is potential for continuity of the higher-grade mineralization across a 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. Previously released intercepts from the HC West open-pit target include DON-018, DON-022, DON-037, DON-099, DON-104, DON-111, and DON-112; which are as follows:

- 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 25, 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 25, 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-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 (November 8, 2007)

- DON-104 intersects 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-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 (November 8, 2007)

The 2007 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 grades ranging from 3.7 to more than 16.0% combined lead and zinc. 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.

Although much of the zinc-lead mineralization in the Active Member of the HC West deposit is within 100 metres of near-surface environment and therefore possibly amenable to open-pit mining techniques, the overall gentle dip of the Active Member and its moderate thickness means that portions of HC West could be conceptually amenable for low-cost, room and pillar underground mining methods similar to that utilized in other known carbonate-hosted zinc-lead mines. The basal portion of the Active Member does provide higher zinc and lead grades that could define mining limits for underground stopes. Evaluation of these scenarios is planned as part of the upcoming re-evaluation of the Selwyn Project mining plan; however, any discussion of underground mining of the HC West deposit requires additional engineering work to be undertaken and it is uncertain if additional engineering work will prove up an underground target that is capable of being mined.

Other

One drill continues to work on the high-grade underground target of the Don East deposit while all other drill rigs have been winterized for the 2007-2008 seasonal closure of the Selwyn Project. In advance of cessation of drilling activities for 2007, Selwyn has contracted Independent Qualified Person under NI 43-101, Cliff Pearson, P.Geo. of Pearson Geological Ltd. of Victoria, BC to oversee the preparation of the updated mineral resource estimation and the related NI 43-101 Technical Report. Mr. Pearson, P.Geo. will work with Non-Independent Qualified Person, John J. O'Donnell, P.Geo. of Selwyn to provide the updated mineral resource estimate; which is expected to be completed during the first quarter of 2008.

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, and provide a secure supply of zinc and lead to meet the future needs of the zinc market in Asia and beyond.

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