Business
Selwyn Resources Advances the Selwyn Project
Selwyn Resources Advances the Selwyn Project
About this update from Edm Resources Inc
[{"type":"text","content":"\nSelwyn Resources Advances the Selwyn Project\n\n\n Jul. 20, 2009 (Baystreet.ca) -- VANCOUVER, BRITISH COLUMBIA -- Selwyn Resources Ltd. (TSX VENTURE:SWN) is pleased to update shareholders on progress in advancing the Selwyn Project towards bankable feasibility and development.\n\nOngoing work has focused on three main objectives: \n- Preparation for confirming a large, laterally extensive high-grade core zone that has been conceptualized from the projection of high-grade mineralization in the XY Central and XY West zones. \n- Continued evaluation of development options for the Selwyn Project and infrastructure alternatives. \n- Advancement of environmental assessment and community support for permitting of the Selwyn Project. \nOverview \nSelwyn has recently completed an aggregate $4.0 million of additional equity financing and expanded its Board with the addition of Mr. Yun Choi of Korea Zinc. The addition of Korea Zinc as a major shareholder, through its wholly owned Canadian subsidiary Pan-Pacific Metal Mining Corporation, is seen as an important development and provides Selwyn with a third large strategic investor that shares Selwyn's vision of the Selwyn Project becoming a major zinc-lead mine (see May 8 and July 7, 2009 news releases). These initiatives help prepare Selwyn for taking the next key steps in advancing the Selwyn Project. \nSelwyn has spent an aggregate $57 million during the period July 2005 to present in establishing the Selwyn Project as one of the World's largest undeveloped zinc-lead deposits. These expenditures include more than $5.5 million in engineering, environmental studies and community consultation. \nParticularly exciting for shareholders is Selwyn's ongoing success of exploration drilling in defining substantial resources of high-grade mineralization. The current NI 43-101 compliant high-grade mineral resource as estimated by John O'Donnell, P.Geo. (Non-Independent Qualified Person) in February 2009 (see February 26, 2009 news release) includes: \n\n\n-------------------------------------------------------\nResource Category Metric Tonnes % Zinc % Lead\n-------------------------------------------------------\nIndicated 16,063,000 10.25% 4.23%\n-------------------------------------------------------\nInferred 26,704,000 8.81% 2.81%\n-------------------------------------------------------\n\n\n\...