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Silver Swan Announces High Grade Results from D...
Silver Swan Announces High Grade Results from D....
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Silver Swan Announces High Grade Results from Drilling at Austin \n Deposit\n \n \n\n \n Electrum Resources plc\n \n \n\n \n \n \n ELECTRUM RESOURCES plc\n \n \n (“Electrum Resources”, “Electrum” or the “Company”)\n \n \n AIM: ECR\n \n \n US OTC: MTGDY\n \n \n SILVER SWAN ANNOUNCES HIGH GRADE RESULTS FROM DRILLING AT AUSTIN \n DEPOSIT\n \n \n Electrum Resources plc, the diversified mineral and renewable energy \n development company, is pleased to draw attention to the announcement \n made today by Silver Swan Group Limited (ASX: SWN) (“Silver Swan”) \n regarding the results of drilling at Silver Swan’s Austin deposit in \n Western Australia. Austin is a volcanogenic massive sulphide (VMS) \n copper-zinc-silver-gold deposit located within the package of \n exploration tenements sold to Silver Swan by Electrum in 2008.\n \n \n Highlights:\n \n \n - Austin drilling intersects grades up to 14% copper, 9% zinc, 5.9g/t \n gold and 63g/t silver, with drilling continuing\n \n \n - High grade copper, gold and silver mineralisation in ATD110\n \n \n 9m at 7.9% copper including 5m at 12% copper and 1.4% zinc\n \n \n 10m at 37.3g/t silver including 7m at 2.0g/t gold\n \n \n - High grade copper mineralisation in ATD108\n \n \n 22m at 1.6% copper, 8.3g/t silver, 0.36g/t gold\n \n \n 2m at 4.7% copper, 21.1g/t silver, 1.1g/t gold\n \n \n 5m at 4.6% zinc\n \n \n 26m at 0.4g/t gold\n \n \n - Silver Swan proceeding to an updated resource assessment at Austin and \n commencing preliminary metallurgical testwork\n \n \n - Silver Swan cash position A$7 million\n \n \n Silver Swan’s full 27 October 2010 announcement can be viewed at:\n \n \n http://www.silverswangroup.com.au/pdf/Announcements/2010/OCT10/101027-Drilling_Results_at_Austin.pdf\n \n \n The closing price of Silver Swan ordinary shares on the ASX today was \n A$0.35 per share.\n \n \n Electrum holds four million performance shares in Silver Swan, which \n convert to ordinary shares subject to certain conditions. The most \n significant condition is the identification by Silver Swan of a minimum \n 350,000oz gold equivalent in the JORC Indicated Mineral Resource \n category (or higher) on the tenements sold to it by Electrum.\n \n \n On 6 April 2010 Silver Swan announced the completion of a maiden JORC \n resource statement for the Austin deposit. A total gold equivalent \n f...