Selwyn Resources
Selwyn Resources is a Canadian base metals exploration and development company. The company's core project is the World class Selwyn Project, located in eastern Yukon. The project has reactivated the Howard's Pass zinc-lead district, and since 2005 the company has spent over $44.484 million on exploration, development and environmental programs. The $21.529 million spent on exploration in 2007 focused on over 37,209 metres of diamond drilling, environmental baseline, and site engineering studies. The program is focused on providing detailed information for completion of a prefeasibility study, and to support a permitting application in 2008.
Focused management efforts at Selwyn Resource
Selwyn Resources Ltd. (SWN.TSX-V), which was formed following the reorganisation of Pacifica Resources now has the full attention of Dr. Meade, Mr. McKnight and Mr. Dunning as they have resigned from the senior management of Yukon Zinc Corporation (YZC). YZC was sold to Jinduicheng Molybdenum Group, Ltd. and Northwest Nonferrous International Investment Company Limited. Dr. Meade will continue to assist YZC in a limited capacity to assist in transition matters.
Dr. Harlan Meade will continue as President and CEO, Mr. Robert McKnight as VP Corporate Development and Mr. Jason Dunning as VP Exploration of Selwyn. Mr. David Kwong and Mr. Justin Himmelright shall continue in their current positions as Chief Financial Officer and VP Environment and Community Affairs respectively. In the coming months Selwyn intends to secure a development team to advance its Selwyn Project to feasibility study and production.
Although zinc prices are currently depressed, they are expected to bounce back as a long-term supply shortfall commencing in 2010 remains a reality. In view of this shortfall, Selwyn management is considering various options for advancing development and production of the Selwyn Project.
These options are, in part, focused on initial mining of the substantial tonnages of high grade mineralization identified in the 2006 and 2007 drill programmes. Selwyn has also received notice from Mackenzie Valley Land and Water Board that it intends to issue the necessary Land Use Permit and Water Licence for the rehabilitation and use of the existing all-season access road to the Selwyn Project. The access road connects the Selwyn Project directly to the existing Nahanni Range Road that services North American Tungsten Corporation Ltd.’s Cantung mine, and connects to the Robert Campbell Highway. The Robert Campbell and Nahanni Range roads are key parts of the Yukon highway system. The Land Use Permit is therefore a very important step in Selwyn’s development plans.
At present, definition drilling is continuing together with extensive environmental studies. Discussions with various potential strategic partners are also expected to continue; albeit at a slower pace, owing to depressed zinc prices. Selwyn's focus is the exploration and development of the Selwyn Project in the Yukon as Canada's next major zinc-lead mine. The known deposits have large resources of zinc and lead with the potential for large scale production and the provision of a strategic supply of metals needed to feed industrial growth in the Pacific Region for decades to come.
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