VANCOUVER, BRITISH COLUMBIA -- (
Marketwire) -- 03/12/12 --
Selwyn Resources Ltd. ('Selwyn') (TSX VENTURE: SWN) is pleased to inform investors that it is expanding the helicopter-borne, Versatile, Time Domain, Electromagnetic ('VTEM') geophysical survey that it announced February 2, 2012. The 1,551 km survey is covering ScoZinc's extensive mineral claim holdings in the Smithfield, Walton and Stirling areas. A map of Selwyn's mineral properties is available on Selwyn's web site
www.selwynresources.com.
As part of the initial surveys, Selwyn undertook a 19 kilometre flight-line test grid flown over the Northeast zone of the ScoZinc deposit in the Gays River district. Preliminary modelling of the data for the test flights over the Northeast deposit at ScoZinc have defined a geophysical signature for the deposit. With these positive results Selwyn plans to fly an additional 595 flight line kilometres over its mineral claim holdings in the Musquidobit area along the interpreted northeast extension of the favourable carbonate reef structures that host the ScoZinc mine.
Jason Dunning, Vice President Exploration of Selwyn states, 'The geophysical signature identified for the Northeast deposit is one of the best results an exploration company can have from a geophysical survey outside of a new discovery. Moving forward, the application of the airborne geophysical survey data will be providing Selwyn with a very attractive tool in assessing the presence of base metals on its large landholdings in Nova Scotia.'
The exploration programs for Nova Scotia are being reviewed by Vice President Exploration, Mr. Jason Dunning, M.Sc., P.Geo, and Mr. Wolfgang Schleiss, P.Geo., Manager of Exploration, who is responsible for on the ground activities. Mr. Dunning and Mr. Schleiss are both Qualified Persons within the meaning of National Instrument 43-101.
Selwyn's primary focus remains the exploration and development of the properties that make up the Selwyn Project in the Yukon, by the joint venture comprised of Selwyn and Chihong Canada Mining Ltd. The Selwyn Project hosts large tonnages of zinc-lead mineralization which have the potential for large scale production, and could provide a secure supply of zinc and lead to meet the future needs of these markets in Asia and beyond. The recently announced acquisition of ScoZinc Limited, which owns the ScoZinc Mine, provides Selwyn with a second opportunity for growth.
This press release contains forward-looking statements concerning Selwyn's proposed exploration activities in Nova Scotia and the mineralization at the Selwyn Project. These forward-looking statements are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond Selwyn's control, including the results of exploration activities, economic evaluations and engineering studies, the availability of funds in the financial markets on terms acceptable to Selwyn and the public's view of the economic value of the Selwyn Project. There is no assurance that Selwyn's exploration activities will result in the definition of new mineral resources or that if they are defined, they can be developed economically. Additionally, uncertainties associated with permitting and other factors could delay development of the Selwyn Project. Although Selwyn has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that could cause results not to be as anticipated or intended. Readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Selwyn Resources Ltd.
Dr. Harlan Meade
President and CEO
+1 (604) 801-7240 or Toll-free: +1 (888) 989-9188
Selwyn Resources Ltd.
Catalin Chiloflischi
Manager of Investor Communications
+1 (604) 801-7240 or Toll-free: +1 (888) 989-9188
+1 (604) 689-8355 (FAX)
info@selwynresources.com
www.selwynresources.com
