VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/28/12 -- Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE: SWN) is pleased to update investors regarding assay results from the drilling of nine metallurgical holes in the XY Central deposit at Selwyn Project, Yukon Territory. All nine drill holes were focused on the XY Central deposit in order to provide sample media for ongoing test work in support of the feasibility study.
The Selwyn Project is being advanced by Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Ltd. Dr. Harlan Meade, Selwyn's President and CEO, said of the results: "The assay results from the metallurgical drilling program at XY Central deposit continue to demonstrate the strong continuity of high-grade mineralization in the XY Central deposit."
Highlights
-- XYC-297 intersected 45.08 metres true thickness grading 7.57% zinc and
2.65% lead, including 6.19 metres grading 26.41% zinc and 10.34% lead.
-- XYC-298 intersected 27.23 metres true thickness grading 8.35% zinc and
2.76% lead, including 4.29 metres grading 25.02% zinc and 10.17% lead.
-- XYC-299 intersected 28.78 metres true thickness grading 10.22% zinc and
5.45% lead, including 4.72 metres grading 22.50% zinc and 16.26% lead.
Drill hole XYC-297 intersected a very thick section of high-grade mineralization from 324.00 to 375.00 metres for a true thickness of 45.08 metres grading 7.57% zinc and 2.65% lead, including 6.19 metres grading 26.41% zinc and 10.34% lead. This correlates very well with adjacent high-grade intercepts, thereby reinforcing the confidence in the detailed 3D modeling.
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From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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XYC-297 324.00 375.00 51.00 7.57 2.65 10.22 45.08
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Including 324.00 337.70 13.70 7.83 2.26 10.08 12.11
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Including 324.00 330.60 6.60 10.27 2.98 13.25 5.83
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Including 349.00 375.00 26.00 10.34 3.79 14.12 22.98
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Including 364.60 375.00 10.40 19.96 8.15 28.11 9.19
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Including 368.00 375.00 7.00 26.41 10.34 36.75 6.19
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Drill hole XYC-298 intersected high-grade mineralization from 340.10 to 368.00 metres for a true thickness of 27.23 metres grading 8.35% zinc and 2.76% lead, including 4.29 metres grading 25.02% zinc and 10.17% lead.
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True
From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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XYC-298 340.10 368.00 27.90 8.35 2.76 11.11 27.23
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Including 340.10 353.30 13.20 6.33 1.20 7.53 12.88
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Including 342.30 345.50 3.20 10.14 1.81 11.95 3.12
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Including 358.80 368.00 9.20 15.09 6.23 21.31 8.98
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Including 360.20 364.60 4.40 25.02 10.17 35.19 4.29
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Drill hole XYC-299 intersected high-grade mineralization from 298.10 to 329.20 metres for a true thickness of 28.78 metres grading 10.22% zinc and 5.45% lead, including 4.72 metres grading 22.50% zinc and 16.26% lead.
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True
From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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XYC-299 298.10 329.20 31.10 10.22 5.45 15.67 28.78
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Including 298.60 303.50 4.90 9.03 2.88 11.91 4.54
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Including 301.50 303.50 2.00 9.21 2.19 11.39 1.85
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Including 307.00 313.60 6.60 15.13 2.52 17.64 6.11
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Including 309.90 313.00 3.10 23.58 9.13 32.71 2.87
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Including 317.40 329.20 11.80 13.94 9.32 23.26 10.92
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Including 324.10 329.20 5.10 22.50 16.26 38.75 4.72
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Other intercepts from 2011 include drill holes XYC-295, XYC-296, XYC-300, XYC-301, XYC-302, and XYC-303, which also host high grade mineralization.
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True
From To Thickness Zn Pb Zn+Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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XYC-295 291.80 299.80 8.00 4.60 1.19 5.79 7.40
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Including 291.80 295.30 3.50 6.95 1.58 8.53 3.24
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XYC-296 221.70 231.60 9.90 7.24 2.18 9.43 9.54
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Including 227.10 231.60 4.50 11.24 3.71 14.95 4.33
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Including 228.50 230.00 1.50 19.32 5.60 24.92 1.44
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XYC-300 387.30 392.70 5.40 9.67 4.22 13.89 5.31
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XYC-301 316.00 348.10 32.10 5.79 1.56 7.35 31.27
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Including 316.00 329.70 13.70 7.86 1.98 9.85 13.35
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Including 320.10 323.50 3.40 11.79 3.14 14.93 3.31
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Including 327.90 329.70 1.80 10.35 2.38 12.73 1.75
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Including 342.90 348.10 5.20 8.40 2.10 10.50 5.07
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Including 343.90 345.30 1.40 13.74 3.95 17.69 1.36
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XYC-302 478.80 511.90 33.10 6.32 2.61 8.93 29.53
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Including 478.80 482.10 3.30 7.00 2.20 9.21 2.94
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Including 487.40 488.90 1.50 15.79 3.38 19.17 1.33
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Including 503.60 511.90 8.30 12.76 7.09 19.86 7.41
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Including 505.20 511.90 6.70 14.12 8.31 22.43 5.98
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Including 508.30 511.90 3.60 20.74 12.47 33.21 3.21
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XYC-303 361.60 373.60 12.00 6.42 1.91 8.32 10.76
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Including 367.10 368.00 0.90 18.16 6.66 24.82 0.81
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Including 371.40 373.60 2.20 12.21 2.96 15.17 1.97
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Results from the metallurgical drilling program also continue to confirm the 3D geological and structural models for the XY Central deposit. The location of the new drill holes and lenses can be found on drill plan maps available at www.selwynresources.com.
The 2011 mineral resource to NI 43-101 standards for the XY Central deposit is an Indicated mineral resource of 45,114,500 tonnes grading 5.70% zinc and 2.40% lead and an Inferred mineral resource of 44,112,500 tonnes grading 4.10% zinc and 1.29% lead; note that this mineral resource refers only to the 93, 95, and 96 lenses of the XY Central deposit and does not include the 91, 92, and 96 lenses, which are not included in the feasibility study. The updated mineral resource estimate was prepared by Independent Qualified Persons, Mr. Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd., Burnaby, British Columbia, who undertook the 3D modeling and resource estimation; and Mr. Cliff Pearson, P.Geo., Pearson Geological Inc, Victoria, British Columbia, who undertook the detailed field evaluation of data collection protocols at the project worksite (see September 12, 2011 news release).
The Selwyn Project exploration program is being reviewed by Vice President Exploration, Mr. Jason Dunning, M.Sc., P.Geo, who is also responsible for the onsite activities for the Selwyn Project. Mr. Dunning is a Qualified Person within the meaning of National Instrument 43-101. All assay data has been through internal validation of quality assurance and quality control. Selwyn has established a sampling and assay control program with blind insertion of assay blanks, standards, and duplicates for the Selwyn Project. A quality control and quality assurance program is in place at ACME Analytical Laboratories Ltd. ("ACME") that includes blanks, standards, and duplicates. At ACME, silver and base metal analyses are conducted by a 23-element, four-acid digestion, ore-grade ICP-AES technique.
Selwyn's focus is the exploration and development of its properties that make up the Selwyn Project in the Yukon, which hosts large tonnages of zinc-lead mineralization. The known deposits have the potential for large scale production, and the potential to 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 the assets of ScoZinc Limited provides Selwyn with a second opportunity for growth and the potential for production revenues in 2012.
This press release contains forward-looking statements concerning 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 geological variability and other risk factors beyond Selwyn's control. As a result, actual results may differ materially from expected results. Additional drilling is required to confirm the potential of the new discovery areas, the expansions of the current resource areas, and the extension of the higher grade deep mineralization to depth. There is no assurance that such additional drilling will expand mineral resources or that the resources being defined can be developed as an economically attractive mine. Many uncertainties associated with permitting and other factors could delay such development.
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.
Contacts:
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
