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Selwyn Resources Ltd. (TSX VENTURE:SWN) (“Selwyn”) is pleased to announce a NI 43-101 compliant mineral resource estimate for the Scotia mine (formerly known as the Gays River mine) in Nova Scotia that includes both the Main and Northeast zones. The Scotia mine is part of the mineral assets included under the purchase agreement reached with Acadian Mining Corporation (“Acadian”). Selwyn is acquiring all of the issued and outstanding shares of ScoZinc Limited (“ScoZinc”), a wholly owned subsidiary of Acadian, and thereby will also acquire all of the mineral and other assets associated with the Scotia mine (see February 8, 2011 news release).
Dr. Harlan Meade, President and CEO, notes that, “The new estimate of mineral resources of the Main zone confirms prior estimates of tonnage and grade by former operators. Additional drilling within the Main zone will provide for the conversion of Inferred mineral resources to a higher confidence level for inclusion in future engineering studies on the restart of the mine. Similarly, mineral resources in the Northeast zone require additional drilling to upgrade the confidence of the sizeable Inferred mineral resources that could be amenable to open pit mining. Overall, the results form a strong basis for completing engineering studies for the resumption of mining and milling at the Scotia mine. The recently completed Getty deposit mineral inventory also indicates the potential for open pit mining in that area, so with additional drilling and engineering studies, the mineral resources may have the potential to expand the longevity of the Scotia mine.”
Highlights
— The Main zone has a base case (1.50% zinc equivalent cutoff value)
— Measured and Indicated mineral resources of 2,890,000 tonnes grading
4.20% zinc and 1.90% lead, and
— Inferred mineral resource of 1,570,000 tonnes grading 3.30% zinc and
1.30% lead.
— The Northeast zone has a base case (2.0% zinc equivalent cutoff value)
— Indicated mineral resource of 1,580,000 tonnes grading 4.21% zinc
and 2.22% lead; and
— Inferred mineral resource of 1,880,000 tonnes grading 2.70% zinc and
1.86% lead.
The Scotia mine is located approximately 50 kilometres northeast of Halifax, the capital of and largest city in Nova Scotia. The mine is contained within Mineral Lease 90-1, which consists of 615 hectares of mineral rights, as well as five exploration licences in the general vicinity of the Scotia mine, totalling 91 claims covering 3,640 acres (1,473 hectares). These licences are located along strike from the Scotia mine and include favourable host rocks similar to that at the mine site.
Zinc-lead mineralization at the Scotia mine consists of disseminated to locally semi-massive sphalerite and galena occurring within a dolomitized carbonate reef of the Lower Carboniferous age Gays River Formation. The Scotia mine is one of a series of related zinc-lead mineralized reefs including the Getty deposit (see March 30, 2011 news release), situated 1,500 metres to the west of the Main deposit and mill facilities. Other mineralized reef structures include the Carroll’s Farm and Carroll’s Corner zinc-lead exploration targets located 1.5 kilometres and 2.5 kilometres west of the Getty deposit respectively. These exploration targets are also an integral part of this series of mineralized reefs and are considered highly prospective targets warranting follow-up drilling.
Mineral Resources
The estimation of mineral resources of the Main and Northeast zones of the Scotia mine is supported on information provided from 896 drill holes, totalling 75,204.40 metres, completed by prior mine operators between 1951 and 2004; 467 underground drill holes, totalling 11,985.60 metres, also completed by prior mine operators between 1979 and 1995; and 17 drill holes, totalling 1,613.50 metres completed in 2008 by ScoZinc.
You can read the full press release here. Image of Scotia Mine is from Selwyn Resources.
