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SILVER SWAN ENCOUNTERS FURTHE
SILVER SWAN ENCOUNTERS FURTHE.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n RNS Number : 6469T Electrum Resources PLC 30 September 2010 \n \n\n \n \n \nELECTRUM RESOURCES plc\n(\"Electrum Resources\", \"Electrum\" or the \"Company\")\n \n \nAIM: ECR\nUS OTC: MTGDY\n \n \nSILVER SWAN ENCOUNTERS FURTHER SULPHIDES AT AUSTIN\n \n \nLondon: 30 September 2010- Electrum Resources plc, the diversified mineral and renewable energy development company, is pleased to draw attention to the announcement made today by Silver Swan Group Limited (ASX: SWN) (\"Silver Swan\") regarding the progress of drilling at Silver Swan's Austin prospect in Western Australia. Austin is a volcanogenic massive sulphide (VMS) copper-zinc-silver-gold deposit located within the package of exploration tenements sold to Silver Swan by Electrum in 2008.\n \nHighlights:\n \n- Seven holes completed so far by Silver Swan during ongoing drilling programme at Austin; sulphide mineralisation intersected in all holes\n \n- Two upper zone holes intersected 40m and 60m of semi-massive to massive sulphides with visible zinc and copper mineralisation; five deeper holes hit sulphides variously over ~10m intervals, also with visible sphalerite and chalcopyrite\n \n- Assay results to be announced by Silver Swan when a representative number of assays are received\n \n- Drilling expected to continue until end of October\n \nSilver Swan's full 30 September 2010 announcement can be viewed at:\nhttp://www.silverswangroup.com.au/pdf/Announcements/2010/SEP10/Further_Sulphides_Encountered_in_Austin_Drilling.pdf\n \nThe closing price of Silver Swan ordinary shares on the ASX today was A$0.38 per share.\n \nElectrum holds four million performance shares in Silver Swan, which convert to ordinary shares subject to certain conditions. The most significant condition is the identification by Silver Swan of a minimum 350,000oz gold equivalent in the JORC Indicated Mineral Resource category (or higher) on the tenements sold to it by Electrum.\n \nOn 6 April 2010 Silver Swan announced the completion of a maiden JORC resource statement for ...