Tuesday, 15 May 2012

Selwyn unveils updated resource at XY West at Yukon project

Selwyn Resources Ltd. (CVE:SWN) Tuesday announced an updated mineral resource estimate for its XY West deposit, highlighting the expansion of its inferred category resources to 12.75 million tonnes grading 4.42% zinc and 1.40% lead.

The updated NI 43-101 report includes drill results from the 2010 and 2011 definition drilling and exploration work programs at the XY West deposit, part of the Selwyn zinc-lead project located in eastern Yukon.

Selwyn noted that the XY West deposit is a key component due to its close proximity to the adjacent XY Central deposit, which has an inferred mineral resource of 44.11 million tonnes grading 4.10% zinc and 1.29% lead.
The updated 12.75 million tonne inferred estimate for XY West used a base case 2.0% zinc cut-off grade, and includes 3.27 million tonnes of higher grade zinc-lead mineralization grading 7.71% zinc and 2.23% lead at a 5% zinc cut-off grade.

The company said the global mineral inventory in the inferred category increased 4.4% as a result, corresponding to an increase of 0.94 billion pounds of zinc and 0.24 billion pounds of lead at a 2% cut-off grade.

Selwyn said that even with the significant number of testing already done, the XY West deposit remains open for future expansion. The 2012 mineral resource update is the first to fully model the zinc-lead mineralizing system at the deposit.

The XY West deposit was discovered in 2008 as part of a step out exploration program assessing "favourable strata" along strike from Selwyn’s XY Central deposit, said the company.

The drill program following up the discovery resulted in the first estimation of an NI 43-101 mineral resource of 1.91 million tonnes in the inferred category grading 7.70% zinc and 2.45% lead, using a base case 2% cut-off grade that focused solely on high-grade zinc-lead mineralization.

The drill holes were designed to test favourable strata in the area known to host zinc-lead mineralization in the structural panels hosting the XY West deposit.

Since acquiring the Selwyn project in 2005, the company said it has made nine major deposit discoveries that are potentially amenable to open pit and/or underground mining methods.

All of these deposits remain open for expansion.

The total indicated mineral resources at the Selwyn project are 180.69 million tonnes grading 5.25% zinc and 1.83% lead for a metal content of 20.91 billion pounds of zinc and 7.30 billion pounds of lead.

The inferred mineral resources have increased to 226.88 million tonnes grading 4.44% zinc and 1.37% lead for a metal content of 22.23 billion pounds of zinc and 6.84 billion pounds of lead.

Selwyn noted that the mineral potential represents the down dip and strike extension of the indicated and inferred mineral resources. 

Zinc-lead sulphide mineralization has now been defined over 37.5 kilometres of strike length with the drilling results from the 2005 through 2012 drilling campaigns, said the company.

Selwyn's primary focus remains the exploration and development of the properties that make up the Selwyn project in the Yukon, that has the “potential for large scale production, and could provide a secure supply of zinc and lead to meet the future needs of the markets in Asia and beyond," the company said.
The work program associated with the mineral resource update was undertaken by Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Mining Ltd.

Chihong Canada Mining is a wholly owned subsidiary of Yunnan Chihong Zinc and Germanium Co., Ltd.
Last week, Selwyn revealed additional drill results from the Don Connector target at its Selwyn project.
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 areas.
Highlights from the drill results included hole DON-233, which intersected 27.85 metres true thickness, grading 6.09% zinc and 1.87% lead, including 10.87 metres grading 8.95% zinc and 2.62% lead.
The data from the definition drilling program will form the basis for a new mineral resource estimate for the Don deposit, said the company.

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