Selwyn Resources Provides Update on Joint Venture Feasibility Study; Shares Jump 29% Higher Off Yr Low


Selwyn Resources Ltd. (SWN.V) today announced the progress and plans for completion of a Feasibility Study for the Selwyn Project. The Feasibility Study is being advanced by Selwyn Chihong Mining Ltd. ( SCM ), the joint venture company, formed by Selwyn and Chihong Canada Mining Ltd., a wholly owned subsidiary of Yunnan Chihong Zinc & Germanium Co., Ltd., one of China's largest zinc and lead mining and smelting companies.

The SCML Management Committee has recently met and confirmed a plan and budget for the completion of a feasibility study based on the revised 3,500 tonne per day mining and milling plan. It is expected that the feasibility study will be completed in late March 2013 utilizing the remaining $5.37 million in the Joint Venture bank account. By then, Chihong Canada will have vested a 50% interest in the Joint Venture.

Selwyn's primary focus remains the exploration and development of the properties that make up the Selwyn Project in the Yukon, by the joint venture comprised of Selwyn and Chihong Canada Mining Ltd. The Selwyn Project hosts large tonnages of zinc-lead mineralization which have the potential for large scale production.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SCM

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