The latest results from the Selwyn project in the Yukon continue to confirm the project’s status as one of the world’s best undeveloped lead and zinc deposits.
The project is now held as a joint venture between Selwyn Resources (SWN-V) and Chinese-based Yunnan Chihong & Germanium after Chihong earned in by paying Selwyn C$100 million.
The companies currently have six drills turning at the project on two separate deposits, but the latest results come out of the XY deposit.
The highlight intercepts came out of two holes, the first striking 14.54 metres true thickness grading 6.86% zinc and 4.61% lead while the other hit 17.51 metres true thickness grading 7.72% zinc and 5.89% lead.
The results came out of the 98 and 99 lenses, which make up two of the three main lenses at the XY central deposit.
The deposit currently has an indicated resource of 10.7 million tonnes grading 10.38% zinc and 4.41% lead and an inferred resource of 2.8 million tonnes grading 10.86% zinc and 4.41% lead.
Once all assay results from the recent definition drilling program are in, the companies will use them to come up with a revised mine plan for the bankable feasibility study which is currently underway.
Selwyn also said that is getting set to embark on an underground exploration program on the high-grade mineral resource at the XY Central deposit.
The Selwyn project is considered to be one of one of the top five undeveloped zinc and lead resources in the world.
In Toronto on Jan. 31 the company’s shares were up 17% or 4.5¢ to 31.5¢ on 2.06 million shares traded.
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