Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Selwyn Resources further expands XY West deposit

Selwyn Resources (CVE:SWN) announced Monday it further expanded its XY West deposit to the northwest, as part of its zinc-lead Selwyn project in the eastern Yukon Territory.

The high-grade discovery follows the completion of six drill holes, intended to target the northwest expansion of the XY West deposit.

"These new drill results support the significant mineral potential of the Selwyn Project now that high-grade zinc-lead mineralization has been traced over 2,900 metres in the XY Central-XY West deposits area," the company said in a statement.

The latest holes were drilled in a separate structural panel between the Brodel and XY West deposits, confirming the presence of high zinc-lead mineralization and supporting the potential to define a large, new zone of mineralization between XY West and Brodel, Selwyn added.

Assays from the program found 24.8 metres grading 6.46% zinc and 2.02% lead, including 12.78% zinc and 4.33% lead over six metres, and including 2.3 metres grading 26.85% zinc and 9.15% lead, in hole XYC-280.

Meanwhile, hole XYC-283 found 12.4 metres at 6.06% zinc and 1.97% lead, including 4.8 metres at 9.9% zinc and 3.68% lead, and including 2.3 metres grading 14.59% zinc and 6.36% lead.

Selwyn said the expansion area covered today adds a minimum area of 300 to 350 metres by 200 to 250 metres. Both XY West and Brodel remain open for expansion.

President and CEO, Dr. Harlan Meade, commented: "The continuing expansion of the high-grade trend from XY Central deposit past the recently expanded XY West deposit shows the expansion opportunity available to Selwyn.

"The high-grade nature of the zinc-lead mineralization in this new structural panel provides yet another attractive early development opportunity, but more drilling is needed."

Other notable results included 5.1 metres grading 10.96% zinc and 2.65% lead, including 0.9 metres at 22.22% zinc and 5.77% lead, in hole XYC-282, and in hole XYC-284, 6.3 metres grading 5.53% zinc and 1.76% lead, including 9.37% zinc and 2.38% lead over 1.9 metres.