Selwyn Resources Options Vinata Property, Mexico and Plans Drilling

Selwyn Resources Options Vinata Property, Mexico and Plans Drilling

Selwyn Resources Ltd. announce that it has reached agreement with Savant Explorations Ltd. to acquire an interest in its Vinata Property located in the state of Chihuahua in north central Mexico. The acquisition agreement grants Selwyn an option to acquire an initial 50% interest in the Vinata Property, and upon exercising of that option, a second option for Selwyn to increase its interest to 55% by making additional expenditures. Selwyn and Savant are planning a USD$450,000 drilling program to commence in late September to test several prime targets for high grade silver-zinc-lead mineralization. The acquisition of an interest in the Vinata Property by Selwyn is subject to receipt by the parties of required regulatory approvals and to completion of final documentation.

The acquisition provides Selwyn shareholders with exploration activity at a time when Selwyn’s large scale zinc-lead Selwyn Project is focused largely on environmental assessment and engineering activities related to the evaluation of development alternatives. Selwyn remains clearly focused on the development of the Selwyn Project but believes that shareholders would benefit from successful exploration activity on the Vinata Property.

The Vinata Property is located in north central Mexico in the prolific Central Mineral Belt that hosts numerous very large silver-zinc-lead mining districts at Bismark, Cinco de Mayo, Santa Eulalia, Naica, San Martin and Fresnillo. The Vinata Project is seen as providing Selwyn an exciting opportunity to participate in the exploration for a new major silver-zinc-lead deposit along trend with the Santa Eulalia and Naica mining districts. Collectively these two mining districts have produced more than 750 million ounces of silver and significant zinc and lead.

Share this post