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's Yukon underground program to proceed after court dismisses First Nations claim
Selwyn Resources (CVE:SWN) said Wednesday that the Supreme Court of Yukon has dismissed an application by the Liard First Nation group to cancel an earlier government decision that completed the environmental assessment of the underground exploration program at the company's zinc-lead project in the territory.
The Selwyn project is operated by Selwyn Chihong Mining, the joint venture company equally owned by Selwyn and Chihong Canada Mining, a subsidiary of Yunnan Chihong Zinc and Germanium Co.
Selwyn said the latest decision removes uncertainty in regards to the validity of its Type B Water License and Mining Land Use Permit for the Selwyn project. These licences allow for ongoing exploration of the property, and the implementation of a 200,000 tonne underground exploration program.
In November last year, Liard applied to quash, suspend, or stay a Decision Document issued by the Yukon government's director of mineral resources to allow Selwyn's advanced underground exploration campaign to proceed to the regulatory stage for licensing and permitting.
In the application, the First Nations group said the evaluation report of the program was "deficient", and that the Director "failed to meet the statutory requirements of the Yukon Environmental and Socioeconomic Assessment Act...and that the Yukon Government had failed in its duty to consult with the Liard First Nation," Selwyn said in a statement.
However, the Supreme Court found that the report "reasonably considered" the significance of the environmental effects of the project, and that there was no breach in "the duty of fairness", as all obligations were met.
The Selwyn project hosts large tonnages of zinc-lead mineralization, and the known deposits have the potential for large scale production.
