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Silver Swan Group On Target To Defining A Major New VMS Camp At Quinns, Drilling To Begin

Silver Swan Group (ASX: SWN) is targeting more high grade volcanogenic massive sulphide (VMS) discoveries at its Quinns project to supplement the Austin deposit and build a Resource inventory sufficient to underwrite a mine development.

Demonstrating the widespread nature of VMS mineralisation at Quinns, Silver Swan has so far defined 25 kilometres of strike with the potential to host VMS mineralisation.

An electromagnetic geophysical program is set to begin this week to assess further areas of coincident VTEM and geochemistry, and orientation of conductor plates.

The information will be used to "tweak" and prioritise the currently planned diamond drilling program as well as provide clarity on the veracity of several other VTEM conductors.

Mid-next month will mark the start of the next phase of drilling at Quinns, with a 3,000 metre diamond drilling program planned to test targets identified by geophysics and multi-element geochemistry.

The program will initially focus on the Flinders and Tasman prospects, where encouraging massive sulphide mineralisation was intersected during the 2011 drilling program.

Late last year Silver Swan intersected VMS mineralisation in six of the seven holes drilled at the Flinders prospect, with a highlight intersection of 10 metres at 4.7% zinc from 247 metres, including 6 metres at 7% zinc and 4 metres at 0.5% copper, being returned.

One hole, located southwest and along strike of the main Flinders zone, returned 1 metre at 9.1 grams per tonne (g/t) gold and, importantly, is in an ideal structural location for superposed, late gold mineralisation.

Meanwhile, at Tasman drilling will target newly defined multi-element geochemistry anomalies as well explore down plunge of a previous drill hole which returned 6 metres at 3% zinc, 12 metres at 5.5g/t gold and 6 metres at 0.4% copper.

Silver Swan will also continue exploration at the Murchison Wonder prospect targeting anomalous pathfinder elements below zones of intensely altered banded iron formation.

Strategic location

A defining factor of the Quinns Project's potential is its location in the Yilgarn region of Western Australia, an area full of VMS discoveries including Golden Grove Minerals & Metals Group's 19 million tonnes at 2.8% copper and 0.2% zinc project.

The region also boasts Independence Group's (ASX: IGO) Teutonic Bore project of 1.55 million tonnes at 1.6% copper, 3.1% zinc as well as the Jaguar 2.55 million tonnes at 2.4% copper, 5.6% zinc project.

The Quinns Project covers an area of 45 square kilometres and has a maiden JORC Resource for the Austin deposit of 1.48 million tonnes at 1.02% copper, 1.39% zinc, 0.24g/t silver and 3.31g/t gold.

Nearly 1.2 million tonnes of that is in the higher confidence Measured and Indicated categories.

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