Silver Swan Group Limited (ASX:SWN)
Perth, June 18, 2009 AEST (ABN Newswire) - Silver Swan Group Limited's (ASX:SWN) Austin base metal discovery in Western Australia continues to grow.
Substantial new copper and zinc zones have been intersected in recent diamond core drilling at Austin further enlarging the volcanogenic massive sulphide (VMS) Cu-Zn-Ag-Au -bearing deposit.
Assay results from the first hole in the company's latest diamond drilling programme have been received. Drill hole 09ATD013 intersected 61m @ 1.9% copper from a depth of 58m down-hole including high grade intervals to 9%Cu and 61m @ 5.4g/t silver. In addition to copper and silver, the mineralisation continues to record significant zinc and gold assays.
Drilling, targeting structural extensions, down-plunge continuations and lode repetitions of the discovery is ongoing.
Visual observations from diamond hole 09ATD015 show multiple semi-massive to massive sulphide zones from 234.8m to 273.4m, containing both copper and zinc sulphide minerals, further extending mineralisation down-plunge. Additionally, mineralised intersections at shallower depths in this hole may indicate the position of new zones of mineralisation.
Silver Swan managing director, Dr Susan Vearncombe, said, "These excellent results continue to reinforce our discovery of significant and exciting volcanogenic copper-zinc mineralisation. This style of mineralisation usually occurs with multiple deposits within a (mining) camp or area."
"The company's next task is to confirm the resource potential of the known metal system at Austin and to test the other look-alike targets identified with geophysical and geological methods in the Quinns area. The company has identified other targets at Quinns where copper and zinc gossans have been located."
Large, high-grade intersections of volcanogenic copper and zinc mineralisation continue to be intersected in diamond drilling at Austin. Austin is part of the Quinns project 100% owned by Silver Swan Group Ltd (ASX:SWN), in the Murchison belt of Western Australia. Austin is about 55 km south of the town of Meekatharra.
Copper, zinc, silver and gold mineralisation has been intersected in diamond drill hole 08ATD013. The copper intersection in diamond drill hole 09ATD013 is 61m @ 1.9% Cu including 4m @ 4.2%, 5m @ 4.3%, 8m @ 2.4% with one individual metre assay at 9.2% Cu. Silver over the same position is 61m@ 5.4g/t Ag and gold 49m @ 0.37g/t Au. The zinc interval is 3m @ 3%. These are approximately true widths.
Silver Swan Group has further visual indications of copper and zinc in 09ATD015, a diamond hole drilled to intersect extensions of the projected plunge position of existing massive sulphide mineralisation. Hole 09ATD015 has intersected semi-massive sulphides containing copper and zinc variously between 234.8m and 273.4m in the expected down-plunge position. In addition, semi-massive sulphides with copper and zinc sulphides have also been intersected from ~165-166m and again from 176-180m; these intersections represent a new zone of mineralisation that sits apart from the main mineralised body identified to date. For 09ATD015 it is inappropriate to estimate or speculate on metal contents, the company awaits analytical results. Drill hole 09ATD014 was terminated early for technical reasons.
Mineralisation at Austin occurs beneath only 50m from the surface and comprises all primary sulphides. A massive and continuous high-grade zone of more than 80m in length and up to 50m in true width now extends to a vertical depth of over 200m as indicated by hole 09ATD015. The mineralisation remains open at depth and along the mineralised limbs extending south-southeast and northwest. Mineralisation is steeply north dipping, associated with Z-shaped fold structures plunging -70 Degrees to the ENE.
For the complete Silver Swan Group Announcement, please click the link below;
http://www.abnnewswire.net/media/en/docs/60915-ASX-SWN-450120.pdf
Contact
Dr Susan Vearncombe
Managing Director
Tel: +61-8-9316-0766
Mr Michael Elias
Non-Executive Chairman
Tel: +61-8-9316-0766
Email: admin@silverswangroup.com.au
Website: www.silverswangroup.com.au
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