Drill for structure, drift for grade
Developing the Historic Kenville Gold Mine in Southeastern British Columbia
Message: Anglo Swiss Receives Permits & Initiates Drill Program at
Kenville Gold Project, Nelson Mining Camp Property, BC
VANCOUVER, Aug. 30, 2011 /CNW/ - Anglo Swiss Resources Inc. (TSXV:ASW, OTCQX:ASWRF) ("Anglo Swiss" or "the Company") today announced that it has received a
new multi-year exploration and drill permit which facilitates the
commencement of an extensive exploration and drill program at its
Nelson Mining Camp Property, which includes its 100%-owned Kenville
Gold Mine. The initial phase 2,000-metre drill campaign began today
testing areas south of the Venango veins located west of the Kenville
Mine. The program will then follow-up on the recent drill programs, and
continue to test the strike extent of the high-grade veins intercepted
500 metres to the south of the Kenville Mine. These vein systems remain
open in all directions and appear to increase in density south of the
mine. See Figure 1 below.
Once the initial drill program is complete, the Company intends to
initiate NI 43-101 resource estimates south of the Kenville Mine.
Additionally, permits are in place for underground exploration
including drilling and rehabilitation of the 275-level (one of seven
levels) of the Kenville Mine. The drill programs, and rehabilitation of
the 275-level will occur concurrently. Once rehabilitation of the
275-level is complete NI 43-101 resource work will commence. Further,
Anglo Swiss has initiated permitting plans for a bulk-sampling program
to provide a more precise measure of gold grades and additional
information for resource estimates. Currently there is a NI 43-101
resource outlined on the 257-level of the Kenville Mine, which includes
an inferred resource of 357,000 ounces of gold at a grade of 0.68 oz/t
gold. (Source: Munroe, 2009) Until an economic evaluation is completed, the
economic cut off for this deposit is unknown. Mineral resources are not
mineral reserves and do not have demonstrated economic viability. This
resource is reported at a cut-off grade of 0.00 oz/t gold.
"These are all important steps required to build upon the existing gold
resource. As well as evaluating additional resources in the existing
mine workings area, the positive drill results in 2010/2011 indicate
that gold resources likely extend south of the Kenville Mine. In fact,
the current footprint of the Kenville south extension is larger than
that of the historic mine workings at Kenville, and those vein systems
remain open for expansion," commented Jari Paakki, CEO.
Anglo Swiss' technical team has been working diligently over the past
few months compiling extensive amounts of data dating back to the 1940s
on the Kenville Mine property as well as the extensive land holdings
assembled during 2009/2010, which now make up the Nelson Mining Camp.
This is the first time that the contiguous, 165 square kilometre
property has been controlled by one operator. Anglo Swiss has now built
a comprehensive digital database and knowledge base to build and
advance the project.
The information in this release was prepared under the direction of Mr.
Jari Paakki, P.Geo, CEO of the Company, a Qualified Person as defined
by NI 43-101.
About Anglo Swiss:
Anglo Swiss Resources Inc. controls a highly-prospective, Canadian,
precious and base metal exploration property portfolio which includes
its flagship 160 sq. km, Nelson Mining Camp, that hosts the 100%-owned
Kenville Gold Mine, in southeastern BC; as well as its newly acquired
100%-owned, Lansdowne House, Ring of Fire project in northwestern
Ontario.. Information regarding the mineral resource estimate can be found in
the technical report by Richard Munroe, P. Geo, filed on SEDAR October
Cautionary Note Regarding Forward-Looking Statements: Certain statements made herein may contain forward-looking statements
or information within the meaning of Canadian securities laws. 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. For example, there is no certainty, that
any economically viable mineral deposit will be located on the
Property, or that the Company will be able to raise sufficient capital
to complete all of its exploration and drill programs. Accordingly,
undue reliance should not be placed on forward-looking statements or
information. Anglo Swiss does not expect to update forward-looking
statements or information continually as conditions change, except as
may be required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Image with caption: "The positive drill results in 2010/2011 indicate that gold resources extend south of the Kenville Mine. In fact, the current footprint of the Kenville south extension is larger than that of the historic mine workings at the Kenville, and those vein systems remain open for expansion. (CNW Group/Anglo Swiss Resources Inc.)". Image available at: http://photos.newswire.ca/images/download/20110830_C7026_PHOTO_EN_2616.jpg
For further information: Jari Paakki, CEO Tel: 705-507-4470 [email protected] Natasha Blackburn, VP Corporate Development Tel: 1-855-683-0484 [email protected]
Chris Robbins, Vice President Tel: 604-683-0484 [email protected]
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