Selwyn Announces the Resumption of Fieldwork on Vinata Property
Vancouver, BC, November 30, 2010 � Selwyn Resources Ltd. (SWN.TSX-V)
(�Selwyn�) announces that it has mobilized field crews to the Vinata Property located in North Central Mexico.
Selwyn is acquiring an initial 50% interest in the Vinata
Property from its Joint Venture partner, Savant Explorations Ltd.
(�Savant�) that can be increased to 55% by making additional expenditures
(see July 22,
2009 news release).
Field
crews will be following up the 2009 drilling program (see October
7, 2009 news release) that provided key information on the geological environment of
this large property that covers approximately 109 square kilometres. Vinata
represents a rare opportunity to acquire a large property with the
surface expression of a potential new district scale mineralizing system.
The local geology and alteration show many similarities to the Santa Eulalia District, 55 kilometres
to the north, which hosts numerous silver-zinc-lead deposits within Upper
Cretaceous limestone units.
The
geological mapping and prospecting will continue to trace the
well-defined, vein-breccia structures hosted
within the Teritary Volcanic rocks that overlie
the favourable Upper Cretaceous limestone
units, and the extensive hydrothermal clay alteration that is anomalous
in both base and precious metals. It is these occurrences of hydrothermal
alteration and metal-rich manganese mineralization that are interpreted
to be the high-level expression of a buried silver-lead-zinc mineralizing
system similar in nature to the large silver-lead-zinc deposits at Santa Eulalia and Naica that have
produced more than 750 million ounces of silver and significant zinc and
lead. Manganese mineralization occurs intermittently over 3,000 metres along a north westerly trend with the 2009
drilling targeting the down dip extension of vein-breccia
structures and flanking clay altered volcanic rocks at the northern end
of the zone. A similar large alteration zone occurs on the south end of
the property, and it is currently deemed to be another attractive drill
target.
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.
The Vinata Project provides another growth
opportunity for Selwyn.
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.
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For more information contact:
Dr.
Harlan Meade, President and CEO
Catalin Chiloflischi,
Manager of Investor Communications
Telephone: +1 (604) 801-7240
Toll-free: +1 (888) 989-9188
Facsimile: +1 (604) 689-8355
Email: info@selwynresources.com
Website: www.selwynresources.com
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.
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