The Selwyn Project is being undertaken by Selwyn Chihong Mining (SCML), the joint venture company comprising Selwyn and Chihong Canada Mining, to move the project to feasibility study to National Instrument 43-101 standards, and if warranted, to production.
The joint venture has reported that it is evaluating a 3,500 ton per day development, targeting underground mining of the higher grade sections in the XY Central and Don deposits.
The development plan under consideration leverages selective mining methods, and has relied on detailed mine development and costing information from the feasibility-level work completed to date.
The company noted a recent analysis has confirmed the new development plan has a good probability of providing a satisfactory economic return.
The joint venture is expected to present a detailed implementation plan and budget for the preparation of an updated economic evaluation of this new development plan to the management committee during this quarter.
In January 2007, Selwyn completed a preliminary economic assessment for the Selwyn Project, which considered an open pit plan of mining at 20,000 tons per day.
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