www.selwynresources.com
Selwyn with its 50% joint venture partner, Yunnan Chihong Zinc & Germanium Co. Ltd., is advancing the Selwyn Project in Yukon and Northwest territories to bankable feasibility and development. Chihong is funding the next $100M of exploration and development activities. Chihong is a fully integrated mining and smelting company based in southern China. Together the partners will seek project financing from Chinese banks.
Selwyn Project hosts perhaps the largest undeveloped zinc-lead deposit in the World. Initial mine development will focus on 16.06M tonnes of high grade Indicated mineral resources grading 10.06 % zinc and 4.23% lead and 26.70M tonnes grading 8.81% zinc and 2.81% lead. Initial mine production is forecast at 255,000 tpa of zinc and 65,000 tpa of lead in concentrate; commencing as early as late 2013, coinciding with forecast shortfalls in mine supply.
Selwyn closes first tranche of $15m special warrant financing
Selwyn Resources (CVE:SWN) announced Friday that it has closed the first part of its $15 million special warrant offering, first announced in late March.
So far, the mineral exploration and development company has raised over $7.1 million through the sale of more than 28.5 million special warrants. The balance of the offering is expected to be completed by June 3.
Each special warrant will be convertible into one common share and one-half of one common share purchase warrant of Selwyn. Each whole warrant entitles the holder to purchase one common share of Selwyn at $0.40 for a period of two years after the closing date.
Proceeds will be used for Selwyn's $10 million purchase of ScoZinc from Acadian Mining. The deal, which is expected to close at the end of the month, will grant Selwyn a 100% controlling interest in ScoZinc and its assets, including the Scotia zinc-lead mine in central Nova Scotia.


















