Business
Silver Swan Update
Silver Swan Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n Silver Swan Update\n \n \n\n \n Mercator Gold Plc\n \n \n\n \n \n \n MERCATOR GOLD plc (“Mercator Gold”, “Mercator” or “the \n Company”)\n \n \n AIM: MCR US OTC: MTGDY\n \n \n Silver Swan Update\n \n \n London 9 April 2010\n \n \n Mercator Gold plc is pleased to draw attention to the announcement made \n by Silver Swan Group Limited (ASX: SWN) (“Silver Swan”) on 6 April 2010 \n regarding the completion of a maiden resource statement for Silver \n Swan’s Austin copper-zinc-gold-silver discovery in Western Australia. \n The Austin discovery is a volcanogenic massive sulphide (VMS) deposit \n located within the package of exploration tenements sold to Silver Swan \n by Mercator in 2008.\n \n \n Mercator holds 4 million performance shares in Silver Swan, which \n convert to ordinary shares subject to certain conditions, the most \n significant of which is the identification by Silver Swan of a minimum \n 350,000 oz gold equivalent in the JORC Indicated Mineral Resource \n category (or higher) on the tenements sold to it by Mercator.\n \n \n Austin Discovery – Maiden Resource Statement\n \n \n \n \n Category\n \n \n \n \n \n Tonnes\n \n \n \n \n \n Cu (%)\n \n \n \n \n \n Zn (%)\n \n \n \n \n \n Au (g/t)\n \n \n \n \n \n Ag (g/t)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Measured\n \n \n \n \n 463,428\n \n \n \n \n 1.22\n \n \n \n \n 1.41\n \n \n \n \n 0.30\n \n \n \n \n 4.38\n \n \n \n \n \n \n \n \n \n \n \n \n \n Indicated\n \n \n \n \n 703,286\n \n \n \n \n 0.97\n \n \n \n \n 1.47\n \n \n \n \n 0.22\n \n \n \n \n 3.28\n \n \n \n \n \n \n \n \n \n \n \n \n \n Inferred\n \n \n \n \n 317,708\n \n \n \n \n 0.85\n \n \n \n \n 1.17\n \n \n \n \n 0.18\n \n \n \n \n 2.74\n \n \n \n \n \n \n \n \n \n \n \n \n \n Measured & Indicated\n \n \n \n \n 1,166,714\n \n \n \n \n 1.07\n \n \n \n \n 1.45\n \n \n \n \n 0.25\n \n \n \n \n 3.72\n \n \n \n \n \n \n \n \n \n \n \n \n \n Total Resources\n \n \n \n \n 1,484,421\n \n \n \n \n 1.02\n \n \n \n \n 1.39\n \n \n \n \n 0.24\n \n \n \n \n 3.51\n \n \n \n \n \n Gold Equivalent (oz) for Measured & Indicated Mineral Resource Categories\nCu: 87,442oz Zn: 35,772oz Ag: 2,213\n \n Total gold equivalent: 134,805oz\n \n \n (Based on copper at US$7,950/t, zinc at US$2,400/t, gold at US$1,135/oz, \n silver at US$18/oz)\n \n \n T...