TSX Venture: ASW
VANCOUVER, Dec. 14 /PRNewswire/ - Anglo Swiss Resources (ASW - TSX.V, ASWRF - OTCBB, AMO - Frankfurt) announces initial results from the 5,000 metre fall/winter drill program at the Kenville Gold Mine Property in south-east British Columbia. To date three holes have been completed (KE10-16 / 17 / 19). Assay results for hole KE10-16 are back from the assay lab and are included in this release. Samples from hole KE10-17 are enroute to the lab and hole KE10-19 is being logged and sampled. Assay results from holes KE10-17 and KE10-19 may not be back from the lab until after the New Year due to lab workloads and the holiday season.
The vein intersections in hole KE10-16 stepped out up to 90 meters south of the intersections made last winter. The veins were intersected at an angle close to 90 degrees making the intervals very close to true width. Of particular note is the interception at what is believed to be the flat vein elevation, 85 meters south of the last flat vein intersection made during the 2009-2010 drilling in hole KE10-15. This new intercept (from 361.4 to 362.74m or 1.34 meter) averaged 59.84 g/t Au and 87.23 g/t Ag, almost 2 oz gold as well as over 3 oz silver content.
Some highlights from the assay sheets are as follows:
|hole #||From meter||To meter||Interval meter||Au ppm Grams/tonne||oz / ton||Ag ppm Grams/tonne|
The sampled core was submitted for assay with proper reference certified material, blanks, samples duplicates for quality control and scrutiny for NI 43-101 purposes. Gold and silver values were analyzed by fire assay; the analytical laboratory retained was ALS Canada of Vancouver.
This project is a continuation of the drilling that was completed during the fall / winter of 2009-2010. That phase of drilling was designed to test the extensions of the known veins in the existing Kenville Mine both to the south and to depth. It was also designed to test the south, north and depth extents of the newly discovered "Eagle Veins". During the 2009-2010 drilling many high grade vein intercepts were made (news release Oct 4, 2010), proving not only that the historic Kenville veins do extend to the south and to depth but also continue to carry substantial gold grades. These interceptions also added significant strike length and depth to the "Eagle" veins while leaving them open in all directions. The 2009-2010 program was very successful and provided a clear direction for this phase of drilling.
Working off of those successes this latest round of drilling is designed to first "step out" further south and west of the 2009-2010 drilling. Once the southern and western extents of this phase of drilling has been delineated, infill drilling will commence for more detailed calculations of tonnes/grams (tons/ounces). The southern perimeter of this drilling will be over 500 meters strike length from the veins in the back of the existing Kenville mine's footprint and more then 750 meters strike length from the first interceptions made on the "Eagle" veins.
As can be seen from these results, this drill program is off to a highly successful start with these high grade intersections from hole KE10-16. In addition, there were also 7 other intersections assaying between 2.0 and 7.23 grams/tonne in that hole. Hole KE10-16 was drilled south of the existing mine, an area poorly explored up till now. This under explored region continues south in the strike direction of the historical known and the recently discovered "Eagle" veins. Completed hole KE10-19 is 200 meters further south from hole KE10-16 and KE10-17. Assays are pending in the New Year.
These results are typical of the high grade gold veins that built the Kenville Gold Mine. All of its past production has come from high grade veins that show great continuity. These veins are sheeted and stacked fissure veins which locally pinch and swell.
All recent technical work has been supervised by, and the contents of this news release have been verified by, Ginette Carter, P.Geo, who is a qualified person as defined in National Instrument 43-101, standards of disclosure for mineral projects.
About Anglo Swiss
Anglo Swiss Resources is earning a majority interest in the 160 square kilometer Nelson Mining Camp, the host to the Company's 100% owned Kenville Gold Mine property. The Nelson Mining Camp is the host to numerous, historical producing gold, silver and copper mines, surface adits and old workings. Exploration programs are underway throughout the Camp area with the focus on building a larger gold resource within the Kenville Gold Mine property and beyond to the south.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Anglo Swiss Resources' plan for future exploration and development of its properties.
Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Anglo Swiss Resources to advance development of its properties; price volatility of gold and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.
SOURCE Anglo Swiss Resources Inc.