Silver Swan Group (ASX: SWN) is a polymetallic explorer with tenements in the Murchison District of the Yilgarn Craton, Western Australia. The company's current focus is on lode-gold, syn-tectonic copper-gold and volcanogenic massive sulphide (Cu-Zn-Ag-Au) mineralisation in Archaean terranes. Exploration tenements held by Silver Swan in the Murchison District cover 680 square kilometres.
Silver Swan advances to initial resource evaluation at Austin Prospect
Australian-listed gold and base metals explorer Silver Swan Group Limited (ASX: SWN) is moving towards an initial resource evaluation at its Austin VMS Prospect, following the completion of its current phase of drilling within the Quinns project area at Meekatharra in Western Australia.
An additional 5 RC holes have been drilled to better define the near surface extent of the ore zone with samples currently being analysed.
The resource evaluation will identify volume and grade for initial open-pit scenario, with the latest drilling results expanding discovery following initial high grade copper, gold, zinc and silver intersections.
Silver Swan Managing Director Dr Susan Vearncombe said the initial resource was viewed by the company as the first of a series of subsequent resource upgrades as exploration continued at Austin.
“Following the receipt of the latest drilling results, it is pleasing that we can now progress with an initial resource evaluation at the Austin prospect," Dr Vearncombe said.
"The positive assay results received from the drilling program at Austin have confirmed the continuity of the mineralisation and the company will now look to determine the grade and volume for an initial open-pit scenario.
"Recent downhole electromagnetics have supported the structural geology indicating the ore continues as a steeply plunging body and future drilling activities at Austin will focus on developing this potential."
Perth-based Silver Swan has key projects in the Meekatharra area of the Murchison province in WA.
The company is seeking polymetallic targets with a focus on lode gold, copper-gold and volcanogenic massive sulphides in Archaean and Proterozoic terrains.
In the Meekatharra area, much of the production of the late 1800’s came from Silver Swan’s tenement area at Stakewell (Kohinoor), Abbotts (Mt Vranizan and New Murchison King) and Quinns (Koladbro, Cornstalk, Parramatta, Nowthanna, Murchison Wonder, Wallaby, Nuggety and Olympic).
These areas have received only limited modern exploration despite the proximity to producing gold mines at Bluebird-Yaloginda and Gabanintha.
