Friday, 10 February 2012

Selwyn Resources unveils drill results from ScoZinc mine in Nova Scotia

Selwyn Resources (CVE:SWN) said Thursday additional drill results from its 2011 drill program on the southwest extension of the Main Zone at the ScoZinc project in Nova Scotia have confirmed lead-zinc mineralization.
The ScoZinc Mine, a past producing zinc-lead mine in Nova Scotia that the company recently acquired for $10 million, has a measured and indicated resource of 2.8 million tonnes grading 4.2 percent zinc and 1.9 percent lead.
Today's results, which are from the Gays River deposit on the property, include hole MNZ-009, which intersected 7.60 metres grading 8.22 percent lead and 0.79 percent zinc, including 2.60 metres grading 20.32 percent lead and 1.94 percent zinc.
Hole MNZ-018 intersected 9.00 metres true thickness grading 2.51 percent lead and 3.82 percent zinc, including 2.00 metres grading 11.06 percent lead and 4.50 percent zinc, while hole MNZ-029 returned 16.10 metres grading 2.20 percent lead and 3.90 percent zinc, including 1.00 metre grading 0.10 percent lead and 14.08 percent zinc.
Selwyn said it also completed three drill holes in an area between the Main Zone and the Northeast Zone of the Gays River deposit. Historical work on the property had focused on separating these two zones, though Selwyn has discovered that the mineralization is contiguous.
In particular, Selwyn said hole MNZ-038 is of particular interest, due to its high-grade zinc mineralization. The hole intersected 2.9 metres grading 0.05 percent lead and 16.47 percent zinc, including 1.4 metres grading 0.08 percent lead and 27.32 percent zinc.
Selwyn said it continues to work toward the restart of the ScoZinc mine, which it expects will provide cash flow to fund development at its Selwyn project in the Yukon.
Earlier this month, the company said it commissioned a helicopter-borne electromagnetic (VTEM) geophysical survey to test its large mineral claim holdings in Nova Scotia.
The survey will cover key areas known to contain historic mine production of both zinc and lead, as well as gold, silver, copper and barite, the company said.
Selwyn has contracted Geotech to begin flying the survey, which was to begin earlier this month.
The survey will consist of around 1,551 flight-line kilometres spaced at approximately 200 metres covering approximately 205 square kilometres.
The company said key advantages of the geophysical survey include depth penetration, and high spatial resolution, paving the way for the detection of weak anomalies.
It is expected that the survey will be completed by mid-February, Selwyn said, including initial interpretations.
Targeted work areas include the former producing Walton mine in Hants County, Nova Scotia, the former producing Smithfield mine in Colchester County and the former producing Stirling or Mindamar mine in Richmond County.

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