Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

April 05, 2011 08:50 ET

Selwyn Resources Ltd.: High Grade Drill Results Continue From Don Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 5, 2011) - Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to announce additional drill results from the drilling of the 61-lens of the Don deposit at Selwyn Project, Yukon Territory. The drill results are part of the definition drilling program being conducted by Selwyn Chihong Mining Ltd., the joint venture company formed by Selwyn and Chihong Mining Canada Ltd.

The following results augment those released on March 31, 2011. Drilling continues with four drill rigs at the Don deposit and two drill rigs at the XY West deposit, targeted to confirm known mineral resources.

Highlights: 61-lens of the Don deposit

  • DON-176 intersected 23.41 metres true thickness grading 8.41% zinc and 3.32% lead, including 11.22 metres grading 13.50% zinc and 5.48% lead; and
  • DON-172 intersected 29.38 metres true thickness grading 5.61% zinc and 1.97% lead, including 2.87 metres grading 13.97% zinc and 5.51% lead.

The prior high-grade NI 43-101 compliant mineral resource of the Don deposit is composed of three lenses in the underground environment, the 61-lens, 62-lens, and 63-lens each of which is structurally bounded by faults. Drill holes DON-160, DON-166, DON-172, DON-175, DON-176, DON-178, and DON-181 are the infill drill holes within the high-grade 61-lens of the Don deposit.

Similar to other drill holes in this lens, DON-176 intersected a thick section of high-grade zinc-lead mineralization hosted within a broader envelope of mineralization. The high-grade mineralization was intersected from 241.40 to 272.70 metres for a true thickness of 23.41 metres grading 8.41% zinc and 3.32% lead, including 11.22 metres grading 13.50% zinc and 5.48% lead. This intercept correlates with adjacent high-grade intercepts in DON-179 (see March 31, 2011 news release) and DON-181, reinforcing the confidence in the detailed 3D modeling of the 61-lens.

              True
  From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
DON-176 241.40 272.70 31.30 8.41 3.32 11.73 23.41
  Including 252.30 272.70 20.40 10.99 4.56 15.56 15.26
  Including 254.30 269.30 15.00 13.50 5.48 18.98 11.22
DON-181 204.60 232.10 27.50 7.20 2.81 10.01 13.85
  Including 208.80 226.70 17.90 9.16 3.65 12.80 9.02
  Including 219.90 226.70 6.80 11.75 2.41 14.16 3.43

Drill hole DON-172 intersected wide zinc-lead mineralization from 379.70 to 438.00 metres for a true thickness of 29.38 metres grading 5.61% zinc and 1.97% lead, including three intercepts of higher-grade mineralization. These three intercepts include 2.57 metres true thickness grading 8.39% zinc and 2.73% lead from 395.50 to 400.60 metres, 2.87 metres true thickness grading 13.97% zinc and 5.51% lead from 404.80 to 410.50 metres, and 2.87 metres true thickness grading 11.26% zinc and 4.01% lead from 429.50 to 435.20 metres. Thick intersections of zinc-lead mineralization, such as those in DON-172, could provide excellent opportunities for optimizing a mine plan for the Don deposit in the ongoing bankable feasibility study with Wardrop Engineering.

              True
  From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
DON-172 379.70 438.00 58.30 5.61 1.97 7.58 29.38
  Including 380.20 382.40 2.20 6.43 1.85 8.29 1.11
  Including 395.50 400.60 5.10 8.39 2.73 11.12 2.57
  Including 404.80 413.50 8.70 11.01 4.53 15.54 4.38
  Including 404.80 410.50 5.70 13.97 5.51 19.48 2.87
  Including 419.90 435.20 15.30 7.46 5.13 12.59 7.71
  Including 429.50 435.20 5.70 11.26 4.01 15.27 2.87

Other intercepts from 2011 include drill holes DON-160, DON-166, DON-175, and DON-178, which also host high grade mineralization. DON-160 also includes a second intercept of zinc-lead mineralization from the 63-lens, the deepest of the known mineralized lenses at the Don deposit.

              True
  From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
DON-160 495.90 505.00 9.10 2.48 0.69 3.18 4.22
  705.30 722.40 17.10 4.10 1.39 5.49 7.94
  Including 705.30 713.60 8.30 6.43 2.14 8.57 3.85
  Including 705.30 707.70 2.40 8.84 0.77 9.61 1.11
DON-166 162.50 185.00 22.50 6.36 2.11 8.47 11.52
  Including 170.00 185.00 15.00 7.20 2.35 9.56 8.19
DON-175 458.40 475.80 17.40 3.31 1.03 4.34 10.41
  Including 471.30 475.80 4.50 7.66 3.00 10.66 2.69
DON-178 401.10 440.30 39.20 4.55 1.80 6.35 27.14
  Including 401.10 404.70 3.60 6.11 1.60 7.72 2.49
  Including 414.30 440.30 26.00 5.48 2.19 7.67 18.00
  Including 414.30 421.90 7.60 6.49 1.94 8.43 5.26
  Including 425.60 440.30 14.70 5.82 2.63 8.45 10.18
  Including 434.60 440.30 5.70 7.17 3.96 11.13 3.95

Results from the definition drilling program continue to confirm the 3-D geological and structural models for the Don deposit. The location of the new drill holes and lenses can be found on drill plan maps available at www.selwynresources.com.

Results from the definition drilling program will form the basis for a new mineral resource estimate for the ongoing bankable feasibility study with Wardrop Engineering. Several drill holes were positioned to define bounding fault structures and/or areas of lower-grade zinc-lead mineralization in order to refine limits of the high-grade mineralization for confirming the mine plan, integral to the bankable feasibility study.

The previous NI 43-101 compliant Indicated mineral resource for high-grade mineralization within the Don deposit is 5,325,000 tonnes grading 9.98% zinc and 3.86% lead and an Inferred mineral resource of 5,335,000 tonnes grading 7.94% zinc and 2.95% lead. This mineral resource estimate was conducted by Independent Qualified Person, Cliff Pearson, P.Geo., and Non-Independent Qualified Person, John J. O'Donnell, P.Geo. (see January 29, 2008 news release).

The Selwyn Project exploration program is being reviewed by Vice President Exploration, Jason Dunning, M.Sc., P.Geo. Wolfgang Schleiss, P.Geo., Manager of Exploration, is responsible for the Selwyn Project's onsite activities. Mr. Dunning and Mr. Schleiss are both Qualified Persons within the meaning of National Instrument 43-101. All assay data has undergone 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. A quality control and quality assurance program is also in place at ACME Analytical Laboratories Ltd. ("ACME"), which includes blanks, standards, and duplicates. At ACME, silver and base metal analyses are conducted by a 23-element, four-acid digestion ore-grade ICP-AES technique.

Selwyn's focus is the exploration and development of the Selwyn Project in the Yukon Territory, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production, and to provide a secure supply of zinc and lead to meet the future needs of these markets in Asia and beyond. The recently-announced acquisition of the assets of ScoZinc Limited provides Selwyn with a second opportunity for growth and the potential for production revenues in 2012.

This press release contains forward-looking statements concerning mineralization at the Selwyn Project. These forward-looking statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of geological variability and other risk factors beyond Selwyn's control. As a result, actual results may differ materially from the expected results. Additional drilling is required to confirm the potential of new discovery areas, expansions of the current resource areas, and extension of the higher grade deep mineralization to depth. There is no assurance that additional drilling will expand mineral resources or that the resources being defined can be developed as an economically attractive mine. Additionally, Selwyn recognizes the uncertainties associated with permitting and other factors that could delay such development.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Selwyn Resources Ltd.
    Dr. Harlan Meade
    President and CEO
    +1 (604) 801-7240 or Toll-free: +1 (888) 989-9188
    or
    Selwyn Resources Ltd.
    Catalin Chiloflischi
    Manager of Investor Communications
    +1 (604) 801-7240 or Toll-free: +1 (888) 989-9188
    +1 (604) 689-8355 (FAX)
    info@selwynresources.com
    www.selwynresources.com