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Additional Information
Market: ASX
Sector: General Mining
Epic: .SWN
News: Latest news
Web Site: Silver Swan Group
Other Articles: 29-01-201018-01-201016-12-2009

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Saturday March 13, 08:47Premium risk at Prudential

Insurance giant Prudential has stolen the headlines this week, after their decision to buy AIA, the Asian life business of US insurer AIG, has attracted a mixed response from shareholders.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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Silver Swan Group

Silver Swan Group

Silver Swan Group Limited (ASX: SWN) is a polymetallic explorer with tenements in the Murchison District of the Yilgarn Craton, Western Australia and the Wilgena and Christie Domains of the Gawler Craton, South Australia. The Comany’s current focus is on lode-gold, copper-gold and volcanogenic massive sulphide (Cu-Zn-Pb) mineralisation in Archaean and Proterozoic terranes.

Exploration tenements held by Silver Swan in the Murchison district of Western Australia cover ~680km2 In South Australia, the tenement holding is 1,823km2 and 1,210km2 in the Wilgena and Christie Domains respectively.

 

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Friday, June 26, 2009

Silver Swan Group raises $7 million for Quinns Project and a fledgling no longer

by Proactive Investors company news image

Silver Swan Group (ASX: SWN) has emerged out of a trading halt raising $7 million in funding via a private placement at 33 cents per share.

What is especially impressive is that demand for SWN stock was so strong that the size of the placement was significantly increased. The placement price arrived at was also substantially higher than predicted, putting a higher "floor" under the stock.

Intriguingly, a single cornerstone investor stumped up $2 million in the placement. A further 15.1 million shares were placed at 33 cents per share.  An options exercise also raised a further $1 million.

The higher funding will enable SWN to aggressively drill further holes at the recent significant discovery at its Austin project in Western Australia, where the latest diamond drilling has produced substantial new copper and zinc intersections.

With little fanfare, SWN has carefully defined its drill targets and encountered significant intersections of copper and zinc at Austin.  The results to date are reminiscent of significant volcanogenic copper-zinc mineralisation.  Interestingly, this style of mineralisation usually occurs with multiple deposits within a mining camp or area.

The interest will be just how large is the resource potential of the known metal system at Austin.

Assays from the first hole in the Company’s latest diamond drilling programme 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.  This was the second >60m intersection of high grade copper for SWN. The diamond drilling programme at Austin is continuing. Further drilling will focus on Austin, Copper Hills.

Managing Director, Dr Susan Vearncombe said she was delighted with the support the company has received during the capital raising process "which is a strong endorsement of the company's exploration methodology and success to date."

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