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 Resources begins exploration program at ScoZinc mine
Selwyn Resources (CVE:SWN) said Thursday that it has begun exploration activities at its ScoZinc mine, formerly the Scotia Mine in Nova Scotia, Canada.
Selwyn acquired the mine with its acquisition of ScoZinc Limited, which completed in June.
The program will consist of infill definition drilling and near-mine exploration in support of the mine's re-start activities, the company said.
Two drill rigs are currently being mobilized to the ScoZinc mine for the start of diamond drilling, designed to focus on the expansion of mineral resources, based on targets identified from 1,400 historical drill holes in and around the mine.
Zinc-lead mineralization at the ScoZinc mine consists of two principle zones: the Main zone, the site of open pit operations, and the contiguous Northeast zone.
A third mineralized centre, the Getty deposit, is situated 1,400 metres northwest of the Main zone, which as of April, had 2.89 million tonnes of measured and indicated resources grading 4.2% zinc and 1.90% lead.
Initial drilling will focus on an area just southwest of the existing open pit that covers the Main zone. Selwyn said that roughly 4,500 metres of infill and exploratory drill holes will be completed over the next two months.
Additional drilling is also planned for the Northeast zone after completion of the current program.
In addition to ScoZinc, Selwyn also owns approximately 42,080 hectares of mineral claims in Nova Scotia, including coverage of numerous known reef structures, the subject of future exploration.
Selwyn’s primary focus remains the exploration and development of the properties that make up the Selwyn project in the Yukon, which is operated by the joint venture comprised of Selwyn and Chihong Canada Mining.
The company plans on using cash flow generated from ScoZinc to fund the development of the project in Yukon.
