Silver Swan Group (SWN)

Shares / Stock Code

SWN

Stock Exchange / Sharemarket

Australian Securities Exchange

Silver Swan Group (SWN) is a polymetallic exploration company with key projects in the Meekatharra area of the Murchison province, Western Australia, South Australia. SWN is searching for a number of mineral styles, including lode gold, copper-gold and volcanogenic massive sulphides. The company was listed on Australian Stock Market (ASX) on 3 November, 2006.

Silver Swan Group successfully raised $8M in June 2009, highlighting strong support for the junior explorer to progress its Western Australian exploration program. In a vote of support for SWN's projects, the WA government awarded SWN $254.5K, co-funding two projects. During the fiscal year ended June 30, 2009, Silver Swan Group Limited has focused activities primarily on the Quinns and Yagahong project areas. The Company operates in the mineral exploration segment in Australia.

Silver Swan owns 100% of its Murchison tenements (with the exception of Kiaby Well). Much of the historical production in the late 19th century came from SWN's tenements in the Meekatharra area. Prior to SWN's acquisition of these tenements, the regions have received only limited modern exploration. SWN aims to build its portfolio in under-explored areas with significant historical and current production, low sovereign risk and favourable geology and structure.

Yagahong Project

Yagahong is located 35km southeast of Meekatharra and approximately 20km north-east of Quinns. The tenement area comprises 160km2 and contains part of the Gabanintha shear system, a zone that is about 1km in width and hosts at least two zones of copper-gold mineralisation. In the Yagahong project, Silver Swan has concentrated most of it’s activities at Copper Hills, a prospect that lies within the southeastern portion of the project area and incorporates a number of small historical workings. Only limited historic reverse circulation and diamond drilling has been carried out along this zone of workings.

Silver Swan Group has mapped the geology of Copper Hills in detail and drilled two diamond core holes (08CH001 & 08CH002) across multiple zones of shear-hosted copper-gold mineralisation. The shear zones occur within an ultramafic-mafic layered igneous complex within peridotite and gabbroic host rocks. The style of mineralisation is syn-tectonic and is potentially similar to deposits in the Chibougamau area (Canada) where 14 deposits have produced more than 39.5 million tonnes at an average grade of 1.57% Cu and 1.95 g/t Au.

The results of the drilling, shown in the Copper Hills South Assay Table (below) confirm the tenor of mineralisation reported in historic drilling and indicate a continuation of mineralisation at depth. A minimum 450m of strike is implied by the drilling with no barren drill holes within this strike length that have been drilled correctly across the shear zones. Mineralisation is from surface and remains open to the north, south and at depth. Future activities will include reverse circulation drilling over approximately 3kms of strike of shear at Copper Hills to determine continuity, north and south strike and depth extensions. Results of a detailed aeromagnetic survey are awaited; this will assist in mapping structures and key stratigraphic zones.

Additionally, Silver Swan recognises the Copper Hills complex as a significant layered igneous complex. The potential for this intrusion to host nickel and/or titaniumvanadium mineralisation is currently being examined with detailed petrochemical and geophysical studies. The company will also commence testing of copper and gold anomalies in the northern area of Yagahong where drilling is sparce and RAB drilling is mostly restricted to 20m depth with little or no subsequent RC drilling.

Silver Swan Group (SWN) Products and Services

  • Polymetallic exploration company.

Silver Swan Group (SWN) Locations and Subsidiaries

Silver Swan Group Head Office
Unit 1, 15 Ogilvie Road, MOUNT PLEASANT,
WA, AUSTRALIA, 6153
Phone: (08) 9316 0766
Fax: (08) 9316 0799

Silver Swan Group (SWN) Share Price

Submitted by ASX Listed Company on 30 May, 2010 - 19:45

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