Monday, 30 April 2012

Selwyn Resources gets Howard Pass Access Road license for Yukon project

Selwyn Resources (CVE:SWN) said Monday that it has been granted long-term tenure for a major portion of a key road that links its joint venture Selwyn project in the Yukon to the public highway system.
It was given a 30-year license of occupation for the majority portion of the Howard's Pass Access Road that is under the jurisdiction of the Aboriginal Affairs and Northern Development Canada (AANDC).
Howard's Pass is a 79 kilometre long road that links the company's Selwyn project in the Yukon with the public highway system.
The Selwyn project is being advanced by a joint venture company forned by Selwyn and Chihong Canada Mining.
"This licence provides us with a portion of the long-term certainty of access to the Selwyn Project, which is of critical importance for planned mine construction activities and future ore concentrate haulage," said VP of environment and community affairs for the venture, Justin Himmelright.
The Howard's Pass Access Road crosses through two administrative areas - about 57 kilometres is on Crown Land under the jurisdiction of AANDC, and 22 kilometres is in the Nahanni National Park Reserve under the jurisdiction of Parks Canada.
A draft license of occupation for the portion of the Howards Pass Access Road that is in the Nahanni Park Reserve has been received from Parks Canada, the company said.
Terms and conditions of that license are currently under review, it added.
The Selwyn project, which consists of 7,450-hectares of mineral claims, hosts large tonnages of zinc and lead mineralization which have the potential for large-scale production.
Selwyn has 19,294-hectares of mineral claims in the Yukon and 3,373-hectares of wholly owned claims in the Northwest Territories. These claims and mining leases provide Selwyn with control over 66 kilometres of the favourable strata in this giant zinc-lead district.
Earlier this month, the company reported that its joint venture for the Selwyn project inked a resource funding deal with Naha Dehe Dene Band to undertake negotiations of a community agreement regarding project activities.
The Howard’s Pass Access Road crosses through the traditional territory of Nahanni Butte, which is the preferred route for concentrate shipment and mine supply.
Also this month, the lead and zinc explorer closed its previously announced $10 million secured debt facility, the proceeds of which will be used by both Selwyn and its subsidiary ScoZinc for general corporate purposes, including activities at its ScoZinc mine in Nova Scotia.
The ScoZinc mine, a past producing zinc-lead mine in Nova Scotia, which the company 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.

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