Selwyn Resources Ltd.: Drilling Continues to Confirm High-Grade Mineralization at XY Central Deposit
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/22/10 -- Selwyn Resources Ltd. ('Selwyn') (TSX VENTURE: SWN) is pleased to update investors with the first release of assay results from the drilling of the 98/99-lenses of the XY Central deposit at Selwyn Project, Yukon Territory that is being done by Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Ltd. These new results continue to confirm the continuity of high-grade zinc-lead mineralization of the XY Central deposit. The location of the new drill holes can be found on drill plan maps available at www.selwynresources.com.
Highlights: 98/99-lenses of the XY Central deposit
-- XYC-206 intersected 39.20 metres true thickness grading 6.63% zinc and
3.81% lead, including 20.29 metres grading 9.57% zinc and 6.14% lead;
and
-- XYC-216 intersected 10.79 metres true thickness grading 7.91% zinc and
2.84% lead, including 2.63 metres grading 15.30% zinc and 3.62% lead.
The XY Central deposit is composed of three high-grade, main lenses in the underground environment that are structurally bound by faults. The three lenses are the 93-lens, 98-lens, and the 99-lens. Drill holes XYC-194, XYC-199, XYC-201, XYC-202, XYC-203, XYC-206, and XYC-216 are infill holes within the 98/99-lenses that comprise the majority of the high-grade, zinc-lead mineralization at the XY Central deposit. These two lenses are directly southeast and adjacent to the 93-lens; which was described in the December 17, 2010 news release.
Unlike the steeply dipping 93-lens, the 98/99-lenses are composed of two stacked layers of high-grade, zinc-lead mineralization that dip at a shallow to moderate angle (35 to 45 degrees) to the northeast. Due to the shallow to moderate dip of the mineralization, the 98/99-lenses are potentially amenable to cut-and-fill mining methods. A map of the location of the lenses is available at www.selwynresources.com.
The continuing success in intersecting high-grade mineralization in these infill drill holes confirms the continuity of high-grade mineralization in 98/99-lenses. Drill hole XYC-206 is another excellent example of the high-grade mineralization at XY Central deposit that is hosted within a much broader envelope of lower-grade mineralization. XYC-206 intersected mineralization from 324.10 to 427.20 metres for a true thickness of 95.00 metres that hosted high-grade mineralization such as 20.29 metres true thickness grading 9.57% zinc and 6.14% lead, as well as 6.18 metres grading 16.64% zinc and 12.27% lead. This compares very favourably with previously released, nearby intercepts from the 98/99-lenses in XYC-111 and XYC-116 (see August 31, 2006 news release).
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True
From To Thickness Zn Pb Zn Pb Thickness
Drill Hole (m) (m) (m) (%) (%) (%) (m)
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XYC-206 324.20 327.30 3.10 7.42 1.65 9.09 2.86
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Including 324.80 326.10 1.30 10.89 2.24 13.13 1.20
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346.10 347.40 1.30 6.14 3.71 9.85 1.20
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357.20 399.70 42.50 6.63 3.81 10.44 39.20
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Including 358.10 361.20 3.10 7.80 2.98 10.78 2.86
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Including 377.70 399.70 22.00 9.57 6.14 15.71 20.29
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Including 384.30 391.00 6.70 16.64 12.27 28.91 6.18
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Including 389.50 391.00 1.50 20.39 14.68 35.07 1.38
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Drill hole XYC-216 intersected 10.79 metres true thickness grading 7.91% zinc and 2.84% lead; also within a broader intercept of mineralization. These results are comparable in grade and thickness to previously released assay results in nearby drill holes such as XYC-125 (see September 21, 2006 news release), XYC-126 (see October 10, 2006 news release). Other intercepts from 2010 include drill holes XYC-194, XYC-199, XYC-201, XYC-202, XYC-203 and XYC-216; 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-194 256.20 265.30 9.10 4.77 1.13 5.90 8.96
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Including 256.20 258.30 2.10 7.88 1.79 9.67 2.07
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Including 263.10 265.30 2.20 7.44 2.10 9.54 2.17
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XYC-199 82.70 91.60 8.90 6.89 2.47 9.36 7.94
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Including 82.70 85.80 3.10 9.84 2.56 12.40 2.77
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Including 88.80 91.60 2.80 9.51 4.57 14.08 2.50
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XYC-201 133.50 133.90 0.40 10.02 1.42 11.44 0.38
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139.80 141.20 1.40 5.54 1.46 7.00 1.33
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XYC-202 335.30 350.50 15.20 5.24 1.94 7.18 14.86
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Including 335.30 343.50 8.20 6.02 2.67 8.69 8.02
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Including 338.20 341.90 3.70 8.14 2.09 10.23 3.62
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XYC-203 328.70 350.00 21.30 5.30 1.95 7.25 19.48
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Including 329.60 335.40 5.80 7.40 3.09 10.49 5.30
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Including 330.10 332.20 2.1 9.93 5.40 15.33 1.92
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XYC-216 86.00 97.90 11.90 7.91 2.84 10.75 10.79
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Including 86.00 88.90 2.90 15.30 3.62 18.92 2.63
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Including 96.20 97.90 1.70 14.11 9.87 23.98 1.54
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102.90 103.70 0.80 13.33 11.82 25.15 0.73
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131.70 138.50 6.80 6.19 1.60 7.79 6.17
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143.40 148.80 5.40 6.64 1.82 8.46 4.90
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Including 146.90 148.80 1.90 9.13 2.46 11.59 1.72
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Results from the definition drilling program continue to confirm the 3D geological and structural models for XY Central deposit. The definition drilling includes 47 diamond drill holes totalling 13,994.80 metres in the three main lenses in XY Central deposit. The NI 43-101 compliant Indicated mineral resource for the XY Central deposit is 10,738,000 tonnes grading 10.38% zinc and 4.41% lead and an Inferred mineral resource of 2,849,000 tonnes grading 10.86% zinc and 4.41% lead. This study was done by Independent Qualified Person, Cliff Pearson, P.Geo., and Non-Independent Qualified Person, John J. O'Donnell, P.Geo. (see January 29, 2008 news release).
As noted in the December 17, 2010 news release, drilling activities have been temporarily halted for the Christmas break. Work will resume in early January 2011 and focus on the upgrading of mineral resources at the Don deposit; which in 2010 has included 24 diamond drill holes totalling 7,034.50 metres. There will also be exploration drill holes at Don deposit designed to potentially expand known mineral resources.
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; however, it should be noted that there is also a quality control and quality assurance program in place at ACME Analytical Laboratories Ltd. ('ACME') that includes blanks, duplicates and standards. 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 the zinc and lead markets in Asia and beyond.
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 the expected results. Additional drilling is required to confirm the potential of the new discovery areas and 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, and there are many uncertainties associated with permitting and other factors that 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