Proactiveinvestors Australia

Caravel Minerals hits 233m at 0.44% Cu Eq in the Yilgarn District

Tue, 14 May 2013 10:30:00 +1000

Caravel Minerals' (ASX: CVV) has discovered extensive zones of copper-molybdenum mineralisation such as 233 metres at 0.44% Cu Eq. from a 48.6 metre down-hole at the company's wholly-owned Calingiri Project, located 120 kilometres from Perth in Western Australia.

This broad intersection at the Dasher prospect contained higher grade zones such as: 34.0 metres at 0.64% Cu Eq. from 170 metres; and 14.8 metres at 0.82% Cu Eq. from 258 metres - and show the early indicators of what could be a bulk tonnage style deposit.

Adding to the prospectivity of Dasher, the prospect only covers a small part of the broader 30 kilometre long prospective trend defined at Calingiri, where other targets have already been identified.

Other highlights included: 122 metres at 0.46% Cu Eq. from 48 metres, and 116 metres at 0.42% Cu Eq. from 36.0 metres.

The campaign included reverse and diamond drilling, with the new results extending the previously discovered 86 metres at 0.52% Cu Eq. from 9.0 metres, which includes 18.0 metres at 0.8% Cu Eq. from 52 metres.

Earlier in the month the company launched a rights issue, with Cygnet Capital to underwrite $1.46 million of the issue.

Dominion Mining team reunite

Caravel was formally known as Silver Swan Group, and recently made some major advances in reuniting the Dominion Mining team and raising up to $1.9 million for exploration.

Marcel Hilmer is the new managing director of Caravel and has been jointed by Peter Alexander, who played a key role in building Dominion into a leading Australian gold miner during his 10-year reign as managing director from 1999.

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Caravel Minerals steps on the gas, re-unites former Dominion Mining team and capital raising

Thu, 09 May 2013 13:00:00 +1000

Caravel Minerals (ASX: CVV) formerly Silver Swan Group is stepping up a gear, reuniting the Dominion Mining team and raising $1.9 million for exploration at some of Kingsgate Consolidated's properties.

Marcel Hilmer is the new managing director of Caravel and has been jointed by Peter Alexander, who played a key role in building Dominion into a leading Australian gold miner during his 10-year reign as managing director from 1999.

Dominion was taken over by Kingsgate Consolidated (ASX:KCN) in 2010 in a $376 million transaction.

In March, Caravel completed the acquisition of eight exploration properties from Kingsgate Consolidated covering 4953km2 in Western Australia and Queensland.

Kingsgate received 135 million shares in Caravel and options as consideration and owns 35% of Caravel as a result of the asset sale.

In the package there are prospective gold-copper-molybdenum drill ready targets identified in Western Australia and an existing JORC inferred resource of 140,000 ounces of gold at the Wynberg Project in Queensland.

The deal brought key employees from Kingsgate Consolidated.

Rights issue

Cygnet Capital will underwrite $1.46 million of a $1.9 million one for three rights issue pitched at $0.015 a share with a one-for-one free attaching option.

The funds will be used to advance the exploration programs planned for Caravel’s three priority projects: the Calingiri and Bryah copper-gold projects, both of which are located in WA, and the Wynberg gold project in Queensland.

Calingiri looks particularly interesting as it is located just 125km north-east of Perth with a regional trend of copper-molybdenum-gold mineralisation extending at least 30km, largely under-explored.

Limited drilling has returned some promised with 86m at 0.41% copper and 162ppm molybdenum, 62m at 0.41% copper, 26m at 0.72% copper and 44m at 0.75% copper.

Further results from a recently-completed drilling program should prove interesting. Proceeds from the rights issue will fund the next round of exploration, including further drilling.

Silver Swan Group raises $1.4M for Spanish gold quest

Thu, 27 Sep 2012 09:10:00 +1000

Silver Swan Group (ASX:SWN) will raise almost $1.4 million at $0.035 per share from investors.

Funds will be directed toward exploration drilling at the company’s La Codosera Gold Project in Western Spain.

Drilling at La Codosera is progressing with initial assay results expected to be announced towards the end of October.

At similar timing, results from a 2000 sample auger soil programme across La Codosera are expected to be available.

A total of 40,000,000 shares are to be issued at a price of $0.035 per share, with one free attaching listed option with an exercise price of $0.07 for every two new shares issued.

David Archer, executive chairman will participate in Tranche 2 (subject to Shareholder approval) and acquire 11,428,571 Shares ($400,000) and 5,714,285 listed options.

Silver Swan is also looking at expansion into additional gold and base metal exploration projects in Spain and Portugal.

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Silver Swan Group kicks off highly anticipated gold drill program at La Codosera in Spain

Thu, 16 Aug 2012 11:20:00 +1000

Silver Swan Group (ASX: SWN) has started its first round of diamond drilling at the La Codosera gold project in Spain, where the company can earn an 80% interest in the project with expenditure of A$3 million.

La Codosera in Spain's Iberian Pyrite Belt has extensive gold mineralisation and historic results including 10 metres at 3.6 grams per tonne (g/t) gold and 4.6 metres at 2.3g/t gold; 8 metres at 3 g/t gold; 7.1 metres at 2.7g/t gold; 4 metres at 5.9g/t gold and 16 metres at 1.5g/t gold.

The diamond drilling will initially be focused at the Monteviejo and Los Bastos prospects, and will comprise 14 holes for a total of about 1,500 metres that target a stacked lode gold system over a strike length in excess of 1 kilometre.

The initial drilling will test mineralisation in the upper 150 metres from surface, and is designed to assess the number, thickness and continuity of potential gold lodes parallel to or cross cutting a folded slate-quartzite sequence.

An initial auger orientation survey at La Codosera has been completed and samples dispatched for assay.

This program is continuing, and will provide soil testing over the complete project area on 200 metre by 50 metre centres, and 100 metre by 25 metre centres over selected areas. In total, about 1,500 to 2,000 samples will be collected as part of the soil geochemistry program.

Background

The region is a major gold producer – estimated up to 65 million ounces – with new gold projects such as the 1.68 million ounce Salave project coming on stream.

The VMS terrain is also host to some of the largest VMS orebodies e.g. Rio Tinto’s (ASX:RIO) Neves Corvo, leaving little doubt about its prospectivity.

Silver Swan will leverage its VMS and gold discovery skills into this new terrain.

The La Codosera Gold Project is geologically similar to Alaska’s 6.6 million ounce Juneau mine and the 4.2 million ounce Haile mine in the Carolina Slate belt.

La Codosera comprises five permits covering 18.5 square kilometres, located 40 kilometres from the provincial capital Badajoz of the Extremadura region of western Spain.

La Codosera is held in joint venture with Astur Gold Corporation (TSX: AST).

The company must spend $1.5 million to earn an initial 51% within 3.5 years, including a $500,000 minimum expenditure commitment to be fulfilled within 14 months.

To increase its interest to 80%, Silver Swan must spend a further $1.5 million within five years.

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Silver Swan Group embarks on new chapter with rights issue and Spanish foray

Mon, 13 Aug 2012 09:15:00 +1000

Silver Swan Group is beginning its quest for gold in Spain’s highly prospective Iberian Pyrite Belt – a major gold producing region, estimated at up to 65Moz, host to some of the world’s largest VMS orebodies. The company’s exploration effort will be spurred on by the closure of an underwritten A$2.1m rights issue.

Silver Swan Group to propel exploration in gold rich Spanish region with A$2.1m raising

Mon, 02 Jul 2012 12:15:00 +1000

Dr Susan Vearncombe, managing director of Silver Swan Group, told Proactive Investors today that once the A$2.1m rights issue is completed the company will have around $4m in cash to accelerate drilling programs at its two main projects, the La Codosera Gold Project in Spain and the Quinns VMS Project in the Yilgarn region of Western Australia.

Silver Swan Group in pre open pending capital raising details

Fri, 29 Jun 2012 11:40:00 +1000

Silver Swan Group (ASX: SWN) has been granted a trading halt by the ASX today pending the release of a proposed capital raising, with the company's shares placed in pre-open.

Silver Swan has not yet indicated where the potential new funds will be allocated, but the company has recently been active on two continents.

At the Quinns project in Australia - Silver Swan has been targeting more high grade volcanogenic massive sulphide (VMS) discoveries, where 25 kilometres of strike have been defined with the potential to host VMS mineralisation.

Silver Swan is also moving to acquire an 80% interest in the La Codosera Gold Project, which is located in a prime gold district in Spain.

Comparative mineralised systems of the same style, age and setting as La Codosera include the 600 million tonne Muruntau mine in Uzbekistan, the 6.6 million ounce Juneau mine in Alaska, and the 4.2 million ounce Haile mine in the U.S.

The halt will last until the earlier of an announcement being made to the market, or the open of trade on Tuesday 3rd July.

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Silver Swan Group on target to defining a major new VMS camp at Quinns, drilling to begin

Wed, 30 May 2012 11:45:00 +1000

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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Silver Swan Group: Soil sampling underway at Abbotts targeting gold and base metal drilling targets

Mon, 07 May 2012 13:00:00 +1000

Silver Swan Group (ASX: SWN) has commenced a soil sampling program at the company’s Abbotts Gold and Base Metals Project with the aim of defining targets for a potential drilling program that will begin in July.

The planned drilling program will target high grade oxide lode gold as well as copper and zinc mineralisation.

Silver Swan managing director Dr Susan Vearncombe said today that the project is located in an underexplored greenstone belt.

“Our work so far has identified five coherent gold-in-soil anomalies and six base metals anomalies,” Vearncombe said.

“The anomalies are all open along strike, indicating more than 800m strike length to some zones.

“Based on these encouraging preliminary results, the surface sampling area is being extended and in-filled with an additional 761 samples.”

Abbots project

Silver Swan’s Abbotts project is located northwest of Meekatharra in Western Australia, within 50 kilometres of the Meekatharra gold mining district, which includes Doray Minerals’ recent Andy Well gold discovery.

Andy Well hosts a resource of 831,000 tonnes at 12.7 grams per tonne gold for 331,000 ounces of gold.

Importantly, the Andy Well host structure is interpreted to cut the unexplored southern part of the Abbotts tenement package.

Abbotts comprises five tenements covering 265 square kilometres. An additional five mining lease applications are in place, for a potential further 27 square kilometres.

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Silver Swan Group expands gold footprint into prime gold district in Spain

Wed, 28 Mar 2012 15:47:00 +1100

The La Codosera Gold Project, located in one of the most famous historic gold districts in Spain, is geologically similar to Alaska’s 6.6Moz Juneau mine and the 4.2Moz Haile mine in the Carolina Slate belt.

Silver Swan Group substantial shareholder Copulos Group increases stake to 17.73%

Wed, 18 Jan 2012 11:10:00 +1100

Silver Swan Group (ASX: SWN) substantial shareholder Copulos Group of Companies has increased its interest in Silver Swan.

Copulos increased its holding by 2.68 million shares through Eyeon No 2, which purchased the shares on market for about A$0.064. The total consideration for the shares was A$172,107.

This acquisition takes Copulos’ interest in Silver Swan to 17.73% from 15.69%.

Copulos is a private investment company with interests in fast food, healthcare, property development and mining.

Silver Swan has been making good progress in recent months at the Stakewell Gold Project and Quinns Volcanogenic Massive Sulphide (VMS) Project, both located south of Meekatharra in Western Australia.

Last month, Silver Swan intersected VMS mineralisation at the Flinders prospect at Quinns, 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.

The company also delivered high grade gold intersections from exploration at Stakewell in December.

Significant intersections at Stakewell included 4 metres at 6.3 grams per tonne gold from 28 metres.

Silver Swan Group chairman increases stake in company

Tue, 03 Jan 2012 10:11:00 +1100

Silver Swan Group (ASX: SWN) executive chairman David Archer has increased his stake in the company.

Archer acquired 300,000 shares on market between December 16 and 20, 2011, for a total cash consideration of $18,489.

Combined with his already held 50,000 shares, the transaction takes Archer’s holding in Silver Swan to 350,000 shares.

Archer’s move to increase his stake is a vote of confidence for Silver Swan, coming in the weeks following his appointment as chairman of the company, on December 9, 2011.

Silver Swan has had drilling successes at both the Stakewell Gold Project and the Quinns Volcanogenic Massive Sulfide (VMS) Project, both located in Western Australia’s Yilgarn craton.

The company has continued to intercept VMS mineralisation at Quinns, with a recent 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.

At Stakewell, drilling in December intercepted:

- 4 metres at 6.3 grams per tonne (g/t) gold from 28 metres;
- 8 metres at 1.0g/t gold from 38 metres; and
- 17 metres at 1.0g/t gold from 24 metres.

Silver Swan Group continues to intersect VMS mineralisation at Quinns

Thu, 15 Dec 2011 10:00:00 +1100

Silver Swan Group’s Quinns VMS project in the Yilgarn region continues to unveil its potential as a major VMS deposit. Recent highly promising assays and the fact that the project is surrounded by numerous VMS discoveries bode well for continued success at Quinns.

Silver Swan welcomes David Archer as executive chairman

Fri, 09 Dec 2011 15:40:00 +1100

Silver Swan Group (ASX: SWN) has appointed David Archer as executive chairman, replacing James Harris who is stepping down to take on the role of non-executive director.

Archer has more than 30 years’ experience in mining, mineral exploration, telecommunications, IT, technology development, biotechnology and law.

His specialty is in the listed public company area, in executive and non-executive roles, and was involved in founding three major public companies; Savage Resources, later taken over by Pasminco, now OZ Minerals, PowerTel, now owned by Telecom New Zealand (ASX: TEL, NZX: TEL, NYSE: TEL) and Hillgrove Resources (ASX: HGO).

Archer is currently the non-executive chairman of Crusader Resources (ASX: CAS) and Steelmin.

Archer said, “I am looking forward to working with the Silver Swan team. The Company’s Managing Director, Susan Vearncombe, has built a terrific exploration platform and I am excited about helping to build on this and expand Silver Swan’s project base.”

Subject to shareholder approval, Archer will be granted four million three-year options at an exercise price of $0.10 each, with the first million options to vest immediately.

Silver Swan founding director Paul Trettel has announced his intention to retire from the board at the end of the year to focus on other business interests.

Non-executive director Trettel is the managing director of major Silver Swan shareholder Swanline Developments.

Silver Swan Group's follow up drilling hits more high grade gold at Stakewell

Thu, 01 Dec 2011 09:08:00 +1100

Results including 4m at 6.3g/t gold support the potential for multiple stacked high-grade lodes and for shallow oxide gold mineralisation at the Stakewell Gold Project. Silver Swan is well funded and an additional two new oxide target areas will be drilled shortly.

Silver Swan Group drilling adds further evidence of major VMS camp evolving at Quinns

Mon, 21 Nov 2011 13:07:00 +1100

Today's results from drilling at Flinders and Murchison Wonder prospects within the Quinns VMS discovery, display a steadily building picture of Quinns developing into a potentially major new VMS camp in the Yilgarn. Significant VMS projects have been discovered in the region.

Silver Swan Group: substantial shareholder Copulos Group ups stake in company to 15.69%

Fri, 18 Nov 2011 12:20:00 +1100

Silver Swan Group’s (ASX: SWN) substantial shareholder private investment company Copulos Group has increased its shareholding in Silver Swan to 15.69%

Copulos purchased 2,690,021 shares on market on November 14 for a consideration of A$173,775 and a further 325,000 shares on November 15 for a consideration of $20,800, providing an average entry price of $0.064 per share.

Silver Swan is currently in an interesting position as it continues gold exploration at the Stakewell gold project and the hunt for volcanogenic massive sulphide deposits at the Quinns VMS project, both south of Meekatharra in Western Australia.

Encouraging oxide gold mineralisation was intersected during the September quarter at the Stakewell project.

Silver Swan has drilled 11 reverse circulation holes for a total of 878 metres to follow up on high-grade gold intersections at the historic Kohinoor open-pit and underground gold mine.

Meanwhile, Quinns is located 55 kilometres south of Meekatharra covering a tenement area of 45 square kilometres, where Silver Swan discovered the Austin volcanogenic massive sulphide deposit in the Quinns project area and subsequently defined a Resource of 1.48 million tonnes at 1.02% copper, 10.39% zinc, 0.24 grams per tonne (g/t) silver and 3.31g/t gold.

There is a very large 25 kilometres of strike with potential for VMS mineralisation at two stratigraphic levels.

In the December quarter, Silver Swan will revisit the Austin deposit to determine the potential for stacked sulphide lenses to the east and west of the current massive sulphide mineralisation and potential for enlargement of the orebody in terms of both width and depth.

Silver Swan Group: gold exploration at Stakewell and exploring for VMS deposits at Quinns

Tue, 25 Oct 2011 12:04:00 +1100

With $5.9m in the kitty, Silver Swan Group is well funded to drill and follow up oxide gold mineralisation intersected at Stakewell project, while reverse circulation and diamond drilling will test DHEM and FLEM conductors at the Flinders and Murchison Wonder prospects.

Silver Swan Group to kick off dual gold and VMS drilling campaigns in the Yilgarn Craton

Mon, 03 Oct 2011 08:47:00 +1100

With a reverse circulation program at Stakewell to follow up oxide gold mineralisation commencing next week, along with a diamond drilling program at the Quinns VMS project, the news flow for these highly prospective projects in the Murchison Province is about to ramp up.

Silver Swan Group to drill high priority targets at Stakewell Gold Project

Wed, 10 Aug 2011 15:52:00 +1000

Silver Swan Group (ASX: SWN) is looking to further unlock the potential of the high grade Stakewell Gold Project in the Murchison region of Western Australia, with a new reverse circulation program to kick off next week.

Replete with $5 million in cash from a recent capital raising, Silver Swan will drill three new targets for testing at the project, along with a focus on extensions to existing gold lodes.

Recent high grade gold intercepts from drilling by Silver Swan at Stakewell appear to have been completely overlooked by the market including:

- 8 metres at 5.7 grams per tonne (g/t) gold, including 5 metres at 8.6g/t gold from 22 metres;
- 7 metres at 5.8g/t gold, including 4 metres at 9.9g/t gold from 34 metres; and
- 10 metres at 3.2g/t gold, including 5 metres at 5.3g/t gold from 259 metres.

While high grade gold intersected by previous reverse circulation drilling included:

- 7 metres at 23.7 g/t gold from 86 metres;
- 7 metres at 10.3g/t gold from 30 metres; and
- 8.5 metres at 9.0 g/t gold from 207 metres.

Located on five granted mining leases, including the historic Kohinoor mine (over 66,000 ounces mined), Stakewell has a number of mines in the region including Mt Magnet, Cue, Big Bell, Yaloginda, and Gabinintha.

Of even more interest to Silver Swan, two under-utilised mills are nearby (Burnakura and Yaloginda) to Stakewell, that require oxide feed.

Drilling earlier in the year by the company targeted to confirm and expand upon high-grade gold intersections encountered in historic (1980-1990) reverse circulation drilling.

The drill holes tested parallel and potential un-mined gold-rich lodes adjacent to the Kohinoor pit, along with extensions of the lode beneath the open-pit and test areas in which underground mining activity was planned - with all of these aims achieved.

At the nearby Quinns VMS Project which covers 45 square kilometres, the rig will also prepare collars to 100 metres at the Flinders and Murchison Wonder VMS prospects, followed by diamond drilling to test EM and off-hole conductor targets.

Quinns hosts six identified VMS prospects, along with the known Austin deposit with a Resource of 1.48 million tonnes at 1.02% copper, 1.39% zinc, 0.24g/t silver, 3.31g/t gold - which importantly remains open at depth and along strike.

Silver Swan Group opens SPP to boost exploration funds for Quinns VMS and Stakewell projects

Mon, 08 Aug 2011 08:32:00 +1000

Silver Swan Group (ASX: SWN) has now opened a share purchase plan (SPP) on top of the $5 million placement announced at the end of last month.

The SPP will be priced at $0.10, the same price as the placement, for a subscription of up to an additional $15,000 (or 150,000) new shares.

The potential funding injection will be allocated to diamond and reverse circulation drilling at the company's Quinns VMS and Stakewell Gold projects.

Quinns is strategically located in the Murchison region of Western Australia.

The nearby Stakewell has had some recent very encouraging intersections, including 7 metres at 23.7 grams per tonne (g/t) gold from 86 metres, 7 metres at 10.3g/t gold from 30 metres, and 8.5 metres at 9.0 g/t gold from 207 metres.

Silver Swan Group to raise up to A$5m in placement and launches SPP

Fri, 22 Jul 2011 14:42:00 +1000

Silver Swan Group (ASX: SWN) is looking to accelerate exploration at the company's Quinns VMS and Stakewell Gold projects after launching a capital raising campaign.

Silver Swan has already received commitments for A$5 million through the placement of 50 million shares at $0.10, with 39.5 million of the shares subject to shareholder approval.

The company may raise additional funds after launching a share purchase plan for an amount of up to $15,000 per shareholder - also priced at $0.10.

The capital injection will be used by Silver Swan for diamond and reverse circulation drilling at the company's Quinns VMS and Stakewell Gold projects which are strategically located in the Murchison Province of Western Australia.

Susan Vearncombe, managing director, said "The recent identification of very strong off-hole conductors at our Quinns VMS Project and high grade gold results at the Stakewell Project are exciting developments for Silver Swan.

"We are very keen to recommence drilling at both of these highly promising projects in the next few weeks."

Silver Swan Group in trading halt pending capital raising announcement

Thu, 21 Jul 2011 09:54:00 +1000

Silver Swan Group (ASX: SWN) has been granted a trading halt by the ASX pending the release of information regarding a capital raising.

The company expects to make an announcement on or before the commencement of trading on Monday 25 July.

Silver Swan did not elaborate on the capital raising, however the company has had recent drilling success at the Flinders Prospect in the northern part of the Quinns project.

On May 3 Silver Swan entered a binding agreement to acquire 14 square kilometres of prospective gold, copper and zinc tenements at Quinns, located 55 kilometres south of Meekatharra in Western Australia.

The company has carried out substantial exploration this quarter and has developed well-conceived targets at Quinns for new VMS mineralisation and high-grade gold mineralisation at its Stakewell project, and is now prioritising further drilling at Flinders, Murchison Wonder and Stakewell.

Silver Swan Group hits sulphide mineralisation in first hole at Flinders Prospect

Mon, 27 Jun 2011 12:17:00 +1000

Silver Swan Group (ASX: SWN) has intersected sulphide mineralisation within intense hydrothermal alteration from drilling in the first hole at the Flinders Prospect in the northern part of the Quinns project.

The company has drilled one diamond hole that has intersected 30 metres of intense alteration from 256 metres with a 12 metres wide zone of sulphide mineralisation and this hole has returned a strong off-hole conductor.

Importantly, the intensity of alteration and coarse magnetite is similar to that at the Austin Volcanogenic Massive Sulphide (VMS) (copper-zinc) deposit where such alteration is usually only a few metres away from high-grade sulphide mineralisation.

On May 3 Silver Swan Group entered a binding agreement to acquire 14 square kilometres of prospective gold, copper and zinc tenements at Quinns, located 55 kilometres south of Meekatharra in Western Australia.

The new tenements are contiguous and enable Silver Swan to consolidate existing holdings with existing tenements creating economies of scale and boosting potential profit.

The new tenements comprise both the north and south limbs of the Quinns anticline in the prospective stratigraphy that hosts the Austin VMS discovery.

The company is focusing its current search for new VMS mineralisation at Quinns and is motivated by the conjunction of anomalous surface copper-zinc geochemistry, airborne electromagnetic anomalies, historic drilling results and highly-altered surface stratigraphy.

Silver Swan has completed a substantial, targeted program of surface fixed loop (FLEM) and downhole electromagnetic (DHEM) surveys at the project with multiple significant electromagnetic conductors identified at the new Flinders prospect and a strong FLEM VMS-type conductor, along with strong DHEM conductors, identified at Murchison Wonder.

There is a potential gold target at Murchison Wonder where stacked quartz veins were intersected over 80 metres. The company said results from diamond and reverse circulation drilling and FLEM results from Flinders are pending.

The company has carried out substantial exploration this quarter and has developed well-conceived targets at Quinns for new VMS mineralisation and high-grade gold mineralisation at its Stakewell project, and is now prioritising further drilling at Flinders, Murchison Wonder and Stakewell.

Silver Swan Group: Blackswan Equities retains BUY recommendation

Wed, 15 Jun 2011 17:07:00 +1000

Blackswan Equities has written a research note on Silver Swan Group (ASX: SWN) and has placed a BUY recommendation on the stock.

Silver Swan's projects are strategically located with the company focusing exploration in the Meekatharra area of the Murchison province of Western Australia.

Silver Swan's Stakewell Project hosts the historical Kohinoor mine where the company has recently announced initial positive results from a drilling program of 8.0 metres at 5.7 grams per tonne (g/t) gold from 22 metres, including 5.0 metres at 8.6g/t.

Blackswan Equities wrote:

Stakewell shows high grade potential

"Kohinoor hosts known high grade lode-style mineralisation. This program is testing for repetitions and extensions. These results warrant follow-up drilling starting late June, with first results from mid-July.

"We retain our Buy recommendation for exposure to this gold and base metal exploration play. SWN is suited to investors with an appropriate appetite for exploration risk in complex geological setttings."

Silver Swan Group high grade gold hits at Stakewell confirm depth and strike continuity

Fri, 03 Jun 2011 12:22:00 +1000

The latest high grade near surface gold hits for Silver Swan link effectively to high-grade gold mineralisation in historic drilling, and confirm the tenor of historic mineralised grades.

Silver Swan Group targets gold copper with tenement acquisition at Quinns

Tue, 03 May 2011 10:21:00 +1000

Silver Swan Group (ASX: SWN) has entered a binding agreement to acquire 14 square kilometres of prospective gold, copper and zinc tenements at its Quinns Project in Western Australia.

The new tenements at Quinns are contiguous and enable Silver Swan to consolidate existing holdings with existing tenements creating economies of scale and boosting potential profit. The tenements contain three prospects requiring immediate follow-up.

The agreement is with Gledich & Associates Pty and Maryanne Gledich to purchase a 100% stake in their tenements at Quinns, located 55 kilometres south of Meekatharra.

Silver Swan will provide cash payment of $200,000 and will issue one million shares. An additional cash payment of $200,000 depends upon Silver Swan achieving a 250,000 ounces gold JORC Indicated Resource or better on the tenements on or before 20 April 2016.

The company must also issue two million performance shares convertible to fully paid shares in Silver Swan conditional upon the company reaching a 350,000 ounces gold JORC Indicated Resource or better, or the completion of a Bankable Feasibility Study on the tenements, on or before 30 April 2016.

The purchased area has been worked for surface gold at the prospecting level for several years, primarily alluvial gold and high grade nugget gold associated with quartz veins within a few metres of the surface.

The tenements are also near the old mining area of Murchison Wonder. The Quinns area has a recorded historic production of around 17,000 ounces for the period of 1891 to 1938 that does not include gold mined from alluvials or prospectors since the 1940s.

At a minimum, gold extracted to 1938 represents $25 million at today’s gold price.

Historical highlights from reverse circulation drilling at the nearby Murchison Wonder include:

- 3 metres at 5.6% zinc and 7.2 grams per tonne (g/t) gold;
- 7 metres at 0.94% copper and 10.2g/t silver; and
- 2 metres at 1.9% copper and 20.5g/t silver.

The new tenements comprise both the north and south limbs of the Quinns anticline in the prospective stratigraphy that hosts the Austin VMS discovery.

The company will commence a field review next week of the area for anticipated “walk-up” drill targets as well as detailed geological mapping and ground physics over the new area.

Silver Swan Group new exploration to follow-up high grade gold lodes near Meekatharra

Wed, 27 Apr 2011 13:41:00 +1000

Silver Swan Group (ASX: SWN) will target a series of parallel high grade lodes close to the old Kohinoor pit, 50 kilometres south of Meekatharra, in a new exploration program.

The area is highly prospective for gold, with historical intersections from reverse circulation drilling including:

- 7.0 metres at 23.7 grams per tonne (g/t) from 86 metres;
- 7.0 metres at 10.3g/t from 30 metres; and
- 4.0 metres at 18.4g/t from 22 metres.

Exploration will be within the Stakewell project and include five diamond holes within 200 metres of the abandoned open pit, with four holes testing the un-mined lodes and a fifth hole testing depth extensions.

Historical production at Kohinoor between 1897 and 1911 was reported to be 21,000 tonnes at 15g/t gold.

A further 45,144 tonnes averaging 2.43g/t gold was mined from an open pit between 1985 and 1988.

Underground mining was carried out between 1993 and 1995 to a vertical depth of 150 metres, however production from this period was not reported.

The program will take up to four weeks to complete.

Silver Swan Group kicks off copper zinc exploration at Quinns and Yagahong

Mon, 28 Mar 2011 13:32:00 +1100

Silver Swan Group (ASX: SWN) has initiated a large surface geophysics program at the Quinns and Yagahong projects near Meekatharra.

The survey will aim to identify the position, depth and orientation of conductive plates that have to potential for copper and zinc mineralisation.

After which diamond or reverse circulation drilling will follow-up exploration on defined target areas.

The geophysical surveys will cover around 50 line kilometres at Quinns and 6.5 line kilometres at Yagahong.

Quinns covers an 84 square kilometre area where historical mining has taken place, highlighting the potential of the project, with Yagahong almost double the size at 160 square kilometres.

Silver Swan Group managing director boosts stake in company

Fri, 18 Feb 2011 09:03:00 +1100

The managing director of Silver Swan Group (ASX: SWN), Susan Vearncombe, has boosted her stake in the company through an on market purchase.

Vearncombe purchased 50,232 shares at an average price of $0.205, for a total consideration of $10,336.

Vearncombe now holds 155,787 shares through a super fund, plus a portfolio of options.

These options include:

- 1,000,000 $0.20 unlisted incentive options, exercisable by 31 March 2013;
- 1,000,000 $0.30 unlisted incentive options, exercisable by 31 March 2013;
- 1,000,000 $0.50 unlisted incentive options, exercisable by 31 March 2013;
- 250,000 $0.60 options, exercisable by 15 December 2012;
- 250,000 $0.75 options, exercisable by 15 December 2012; and
- 500,000 $0.42 options, exercisable by 15 December 2013.

Silver Swan shares last traded at $0.185.