NOVA SCOTIA - Halifax-based Acadian Mining has agreed to sell its Scotia zinc project in this Maritime province to Selwyn Resources of Vancouver. The property will change hands when Selwyn completes the purchase of Acadian subsidiary ScoZinc.
Selwyn plans a drilling program to confirm the open pit resources of the Northeast and Getty deposits. The company would like to resume production in Q1 2012. Plans are dependent on licensing the expansion of the Main zone pit, extensive pre-stripping of waste materials and stockpiling of low grade carbonate ores for the commencement of milling in Q1 2012. Mill refurbishment and expansion of crushing facilities are planned for the second half of 2011, together with a modest amount of drilling to confirm an expansion of the Main zone pit to the southwest. Capital required for the restart is currently estimated at $25 million, including a 15% contingency.
Additional details are available in the news release dated Feb. 8, 2011, posted at www.SelwynResources.com.
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