Selwyn Resources Ltd.
TSX VENTURE : SWN

Selwyn Resources Ltd.

July 09, 2007 11:36 ET

Selwyn Resources Ltd.: Highest Grade Intercept for Selwyn Project, Drilled in Don Valley

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2007) - Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to provide an update on recent drilling activities in the Don Valley for the Selwyn Project. The results from the Don Valley are very encouraging and continue to expand the understanding of the high-grade zinc-lead mineral potential at depth in Don Valley. The initial drilling in Don Valley is focusing on the 4,200 metre length of Active Member between the Don and HC West Deposits. 34 drill holes have been completed year to date for a total of 10,152.36 metres, and 4 drill holes are in-progress in Don Valley for an additional 892 metres. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.

Highlights

- DON-074 intersecting 31.63 metres true thickness of the Active Member at a depth of 241.7 metres with a grade 10.20% zinc and 3.91% lead including 4.30 metres grading 35.97% zinc and 16.01% lead.

- DON-064 intersecting 9.00 metres true thickness grading 7.91% zinc and 2.28% lead including 4.00 metres grading 9.48% zinc and 2.81% lead.

Don Deposit Deep Drilling

Drilling in the Don Deposit continues to target an area known to contain high-grade zinc lead mineralized Active Member. The target area modeled to potentially contain 20 to 25 million tonnes with a range of grades varying from 6% to more than 12% combined lead and zinc within an area of 600 by 600 metres predominantly below open-pit limits (see May 31, 2007 news release). The potential grade and tonnage of the target is conceptual in nature as there has been insufficient drilling to define a resource. The current drilling is targeted at defining this resource.

Recent assay results from DON-074 have yielded the single highest assay of combined zinc-lead mineralized Active Member for the entire Selwyn Project including all historical results from the XY Central high-grade underground mineral resource. A 1.30 metre sample from 271.80 to 273.10 metres yielded 46.78% zinc and 17.94% lead; for an aggregate 64.72% combined zinc-lead. These new assay results extend the high-grade zinc-lead Active Member from DON-044 that intersected 22.30 metres grading 8.94% zinc and 3.10% lead including 3.30 metres grading 24.21% zinc and 10.61% lead (see January 27, 2007 news release).



True
Drill From To Thickness Pb Zn Pb+Zn Thickness
Hole (m) (m) (m) (%) (%) (%) (m)
DON-074 241.70 281.30 39.60 3.91 10.20 14.10 31.63
Including 253.80 281.30 27.50 4.96 12.72 17.67 22.00
Including 268.10 275.50 7.40 12.55 29.24 41.78 5.90
Including 270.10 275.50 5.40 16.01 35.97 51.98 4.30


The very high-grade nature of the intercept in DON-074 demonstrates that the high-grade underground target at Don Deposit can be directly compared to the high-grade nature of the underground deposit at XY Central located 16 kilometres to the southeast that contains 7,394,860 tonnes of Indicated mineral resources grading 9.88% zinc and 4.32% lead, which is flanked by 1,856,500 tonnes of Inferred mineral resources grading 10.41% zinc and 3.71% lead (see April 2, 2007 news release). Similar historical results to DON-074 from the XY Central high-grade underground mineral resource include surface drill hole XYS-080 that intersected 16.4 metres true thickness grading 22.26% zinc and 10.18% lead and underground drill hole XYU-019 that intersected 4.57 metres grading 21.42% zinc and 13.61% lead directly in the high-grade mineralization. The high-grade zinc-lead mineralized Active Member of the Don Deposit remains open to expansion along strike and at depth in terms of the high-grade underground mineral potential.

Don East Deposit Open-Pit Target

Two drills continue to drill on the Don East Deposit with one drill having recently moved to the HC West Deposit 2.2 kilometers to the southeast; noting there remains a 1.0 kilometre untested gap between the Don East and HC West Deposits. Zinc-lead mineralization of the Active Member in the Don East Deposit is modeled to contain 40 to 60 million tonnes within an area of approximately 1600 by 600 metres with grades ranging from 6.0 to more than 12.0% combined lead and zinc. Similar as to above, the potential resource is conceptual in nature and additional drilling is required to define the resource. A higher-grade target area of Active Member is currently being focused upon that has been modeled to have the potential to host 20 and 30 million tonnes of higher-grade zinc-lead mineralization ranging from 10 to 14% combined lead and zinc (see April 2, 2007 news release).

DON-054, DON-057, DON-061, DON-063, and DON-064 were all successful in further confirming the continuity of the zinc-lead mineralized Active Member through the Don East Deposit. Of particular interest is DON-063, an infill drill hole between DON-049 and DON-056; which intersected two zinc-lead mineralized intervals of Active Member that could indicate structural duplication of the Active Member thereby having positive implications for the mineral potential of the Don East Deposit. It is also important to note that the infill drilling continues to show higher-grade intervals within the open-pit target across the Don East Deposit.



True
Drill From To Thickness Pb Zn Pb+Zn Thickness
Hole (m) (m) (m) (%) (%) (%) (m)
DON-054 256.50 277.80 21.30 1.69 5.54 7.23 15.10
Including 258.70 266.00 7.30 1.78 6.68 8.47 5.20
Including 258.70 261.10 2.40 2.18 9.73 11.91 1.70
DON-057 142.90 157.90 15.00 0.96 4.66 5.62 14.00
Including 143.40 145.80 2.40 1.61 8.36 9.97 2.20
Including 152.40 157.90 5.50 1.15 5.95 7.10 5.10
DON-061 223.70 236.40 12.70 1.34 3.78 5.13 8.20
Including 227.40 236.40 9.00 1.78 4.55 6.33 5.80
Including 227.40 230.20 2.80 4.89 9.67 14.56 1.80
DON-063 108.00 122.70 14.70 0.94 3.89 4.83 11.70
Including 116.20 122.70 6.50 1.59 5.60 7.18 5.20
Including 118.50 120.80 2.30 2.21 8.06 10.27 1.80
138.50 150.90 12.40 1.16 4.33 5.49 9.90
Including 138.50 149.30 10.80 1.07 4.45 5.53 8.60
Including 138.50 145.80 7.30 1.07 4.21 5.28 5.80
DON-064 6.50 17.10 10.60 2.28 7.91 10.19 9.00
Including 12.40 17.10 4.70 2.81 9.48 12.29 4.00


These most recent drill intersections of zinc-lead mineralized Active Member in the Don East Deposit continue to expand the mineral potential in a northwesterly direction by 440 metres from the extents defined in the 2006 definition drilling, as well as increasing confidence in the known mineral inventory. All of the drill intercepts are within the open-pit environment that remains open for expansion. It should be noted that there remains a 1.0 kilometre section of the Don Valley between the Don and Don East Deposits that has yet to be tested by drilling.

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 at ACME Analytical Laboratories Ltd. ("ACME") that includes blanks, duplicates and standards. At ACME, silver and base metal analyses are conducted by a 17-element, four-acid digestion, ore-grade ICP-AES technique.

Note that all discussion of previous NI-43-101 compliant Indicated and Inferred mineral resources are referenced in the March 2007 NI 43-101 report for the Selwyn Project. In reviewing historical resources, all discussion of Indicated mineral resources that predate introduction of NI 43-101 should be considered as Inferred mineral resources. All historical Inferred mineral resources that predate NI 43-101 should be considered as areas of mineral potential requiring further definition through drilling. Historical mineral resources are referenced in the June 2005 NI 43-101 report for Howard's Pass. Copies of the reports can be viewed at www.sedar.com. Any areas discussed as possessing mineral potential are not defined through drilling and are conceptual based upon a detailed geological model. Further definition drilling is required prior to discussing potential mineral resources as an accepted NI 43-101 mineral resource classification.

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. As follow-up to the highly successful 2006 exploration program, Selwyn Resources Ltd. is undertaking a $25 million exploration program in 2007 to continue definition drilling of the XY, Anniv, and Don Valley (HC, HC West, Don East, and Don) deposits.

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