Selwyn Resources (CVE:SWN) announced Friday additional drill results from the Don Connector target at its Selwyn project in the Yukon Territory.
The company’s shares were up four percent Friday morning on the back of the news, trading at 13 cents.
The results were from fourteen exploration drill holes that were
completed in mid-April between the Don and Don East deposits at the
project, in order to confirm the direct linkage between the two adjacent
The drilling is part of an exploration program pursuing an extension
of the Don deposit towards the adjacent Don East deposit to the
southeast, and is being conducted by Selwyn Chihong Mining Ltd., the
joint venture company equally owned by Selwyn and Chihong Canada Mining.
Highlights from the newly announced drill results include hole
DON-233, which intersected 27.85 metres true thickness, grading 6.09
percent zinc and 1.87 percent lead, including 10.87 metres grading 8.95
percent zinc and 2.62 percent lead.
Hole DON-234 returned 36.38 metres true thickness, grading 5.85
percent zinc and 2.50 percent lead, including 13.72 metres grading 11.83
percent zinc and 5.70 percent lead.
In addition, hole DON-236 intersected 27.25 metres true thickness,
grading 6.51 percent zinc and 1.92 percent lead, including 4.18 metres
grading 24.83 percent zinc and 6.63 percent lead.
Other intercepts from 2011-2012 drilling on the Don Connector target
include drill holes DON-227, DON-231, DON-232, DON-235, DON-237, and
DON-238, which all host zinc-lead mineralization, Selwyn said.
The data from the definition drilling program will form the basis for
a new mineral resource estimate for the Don deposit, said the company.
Selwyn noted that results from the exploration program continue to
confirm the 3D geological and structural models for the Don deposit.
The current overall global mineral resource for the Don deposit is an
indicated mineral resource of 36,901,600 tonnes grading 5.63 percent
zinc and 2.11 percent lead.
The Selwyn project, which consists of 7,450-hectares of mineral
claims, hosts large tonnages of zinc and lead mineralization that 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.
Earlier this month, the company announced it had 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.
Last month, the lead and zinc explorer also closed its previously
announced $10 million secured debt facility. The proceeds will be used
by both Selwyn and its unit ScoZinc for general corporate purposes,
including activities at the company's 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
Cash flow from restarting the Nova Scotia operations are intended to be used toward the development of the Selwyn project.