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Project Overview
The Selwyn Project is located in eastern Yukon and straddles the border with the Northwest Territories (NWT). More than 90 percent of the district is in the Yukon, with only the southeast end extending across the border into the NWT.
The Selwyn Project is the consolidation of the Howard's Pass Joint Venture lands acquired from Placer Dome and Cygnus mines Ltd., and Selwyn's wholly owned lands in the Selwyn District. The lands have had more than $50.7 million of exploration completed on them. The property consists of 7450 hectares of mineral claims in the Yukon and 2162 hectares of Mining Lease lands in the Northwest Territories, referred to as the Howard's Pass Joint Venture. In addition, Selwyn has 14,434 hectares of mineral claims in the Yukon and 3,373 hectares of wholly owned claims in the Northwest Territories that are wholly owned. These claims and mining leases provide Selwyn control over 66 kilometres of the favourable strata in this giant zinc-lead district.
Selwyn also owns 7,400,000 common shares of Savant representing approximately 32.9% of the issued capital of Savant (as at June 1, 2008); it also holds a warrant to purchase an additional 3,700,000 common shares at $0.55 per share until June 2009.
Selwyn spent approximately $22.0 million on exploration on the Selwyn Project in 2005 and 2006 resulting in discovery of seven new mineralized zones that confirm that the deposit is one continuous mineralized deposit having a length of at least 38 kilometres. Placer published a global mineral resource in January 1983. This mineral resource is not NI 43-101 compliant and in June 6, 2005, Selwyn published a NI 43-101 report qualifying the previous Placer mineral resource estimate. Selwyn published a new NI 43-101 compliant mineral resource in March 2006 focusing on resources that were amenable to open pit mining. A total of 191 drill holes were completed in 2007 resulting in a significant expansion of mineral resources that were released in April 2007 (see May 2, 2007 NI 43-101 report, amended October 12, 2007 available on the SEDAR website).
The summary table illustrates the growth in mineral resources and contained metals in the Indicated and Inferred mineral resource categories.
Table 1: NI 43-101 Compliant Mineral Resource Content Growth from 2006 to 2008
| Mineral Resource Report |
Resource Class |
Million Tonnes |
Zn
(%) |
Pb
(%) |
Zn
(Blbs) |
Pb
(Blbs) |
| February 2006 |
Indicated |
33.50 |
5.52 |
2.10 |
4.08 |
1.55 |
| |
Inferred |
112.91 |
5.40 |
2.14 |
13.44 |
5.31 |
| April 2007 |
Indicated |
86.60 |
4.93 |
1.97 |
9.41 |
3.29 |
| |
Inferred |
215.40 |
4.71 |
1.48 |
22.38 |
7.03 |
| January 2008 |
Indicated |
154.35 |
5.35 |
1.86 |
18.19 |
6.31 |
| |
Inferred |
231.54 |
4.54 |
1.42 |
23.19 |
7.23 |
Notes for Table 1:
-
The most recent Mineral Resources reported above have been calculated as of January 29, 2008 in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101.
-
A 2% zinc grade cut-off was applied to the new mineral resource estimate.
-
The Mineral Resource Estimate uses all 570 drill holes, totalling 123,442 metres, successfully completed on the Selwyn Project over three separate periods: 1973 to 1981, 2000, and 2005 to 2007.
Table 2: Selwyn Project 2008 Mineral Resource Estimate
| Deposit |
Resource Class |
Tonnes |
Zn
(%) |
Pb
(%) |
Zn
(Blbs) |
Pb
(Blbs) |
| XY Deposit |
Indicated |
44,450,000 |
6.17 |
2.64 |
6.05 |
2.58 |
| |
Inferred |
45,940,000 |
4.20 |
1.32 |
4.25 |
1.34 |
| XY Nose Zone |
Indicated |
|
|
|
|
|
| |
Inferred |
7,320,000 |
4.08 |
2.20 |
0.66 |
0.35 |
| Brodel |
Indicated |
|
|
|
|
|
| |
Inferred |
12,100,000 |
4.31 |
1.16 |
1.15 |
0.31 |
| HC Zone |
Indicated |
8,600,000 |
4.01 |
1.04 |
0.76 |
0.20 |
| |
Inferred |
19,370,000 |
3.83 |
1.09 |
1.63 |
0.46 |
| HC West Zone |
Indicated |
19,680,000 |
5.46 |
1.56 |
2.37 |
0.68 |
| |
Inferred |
10,220,000 |
5.42 |
1.50 |
1.22 |
0.34 |
| Don East Zone |
Indicated |
35,490,000 |
5.37 |
1.63 |
4.20 |
1.27 |
| |
Inferred |
41,070,000 |
5.23 |
1.61 |
4.74 |
1.46 |
| Don Zone |
Indicated |
11,230,000 |
5.99 |
2.17 |
1.48 |
0.54 |
| |
Inferred |
16,290,000 |
5.62 |
1.99 |
2.02 |
0.71 |
| Anniv East Deposit |
Indicated |
16,920,000 |
4.15 |
1.20 |
1.55 |
0.45 |
| |
Inferred |
16,050,000 |
4.04 |
1.08 |
1.43 |
0.38 |
| Anniv Central Deposit |
Indicated |
17,980,000 |
4.52 |
1.51 |
1.79 |
0.60 |
| |
Inferred |
40,120,000 |
4.63 |
1.48 |
4.09 |
1.31 |
| Anniv West Extension |
Inferred |
6,880,000 |
4.30 |
1.25 |
0.65 |
0.19 |
| HP |
Indicated |
|
|
|
|
|
| |
Inferred |
6,180,000 |
4.55 |
1.23 |
0.62 |
0.17 |
| OP |
Indicated |
|
|
|
|
|
| |
Inferred |
1,770,000 |
4.18 |
1.29 |
0.16 |
0.05 |
| OP West |
Indicated |
|
|
|
|
|
| |
Inferred |
1,380,000 |
2.67 |
0.86 |
0.08 |
0.03 |
| Pelly North |
Indicated |
|
|
|
|
|
| |
Inferred |
6,850,000 |
3.20 |
0.90 |
0.48 |
0.14 |
| Total |
Indicated |
154,350,000 |
5.35 |
1.86 |
18.19 |
6.31 |
| Total |
Inferred |
231,540,000 |
4.54 |
1.42 |
23.19 |
7.23 |
In addition to the Indicated and Inferred mineral resources, extra exploration of the mineral resources remain largely open for expansion of mineral potential. The aggregate of Selwyn mineral resources in all categories clearly puts Selwyn Project in the class of the giant zinc deposits. The table below illustrates the size of the World's SEDEX (Sedimentary Exhalative) deposits to which class the Selwyn Project belongs. SEDEX comprise most of the world's largest zinc deposits with a few notable exceptions: Antamina (skarn), Mehbiadad (replacement) and Brunswick and Kidd Creek (VMS).
World's Largest Undeveloped Zinc Deposits
World's Largest Undeveloped Lead Deposits
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