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Feb. 1, 2012 /PRNewswire/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF:PK) ("
Anglo Swiss" or the
Company") announces plans to commence a 4,000-metre diamond drilling program at the Kenville Gold Mine project near
Nelson in southeastern
British Columbia. Drilling will focus on both infill and expansion of the recently discovered 500-metre strike extension of high-grade gold veins south of the Kenville Mine. The drill program is scheduled to begin during the second week of February, 2012 and will take approximately two months to complete. Initial results are expected in mid-March.
The southern extension of the high-grade gold vein system was discovered by the Company in drill programs completed from 2009 to 2011. This drilling successfully extended the vein system 500 metres south of historic mine workings where it remains completely open for expansion southward and to depth. Gold mineralized quartz veins occur as multiple stacked, shallow to moderately-dipping sheets likely extending from near-surface to vertical depths of at least 500 metres. Previously released results from the south extension drilling include:
26.8 g/t Au, 54.8 g/t Ag over 1.82m in hole KE09-10
115.5 g/t Au, 58.1 g/t Ag over 0.50m in hole KE10-16
88.1 g/t Au, 130.0 g/t Ag over 0.88m in hole KE10-16
59.8 g/t Au, 31.8 g/t Ag over 0.46m in hole KE10-17
84.5 g/t Au, 22.3 g/t Ag over 0.45m in hole KE10-19
34.8 g/t Au, 34.5 g/t Ag over 0.69m in hole KE11-20
The current drill plan also includes testing extensions of the high-grade gold veins further south on the adjoining Ron Gold Property, which is under option from Klondike Gold Corp (see news release dated
September 23, 2011). A newly interpreted regional structural splay located on the west half of the Kenville Gold Mine property has also been identified as a potential shear system capable of hosting gold veins and will be drill tested during the current program.
As of the close of business on
February 1, 2012, the Company has requested the OTC Markets Group to withdraw its securities from the OTCQX listing in
the United States. The Company's common shares will remain listed on the OTC Pink Sheets in
the United States.
Jari Paakki, P. Geo., CEO of the Company, is the designated "qualified person" (within the meaning of National Instrument 43-101) responsible for the preparation of this news release.
About Anglo Swiss: Anglo Swiss Resources Inc. controls a highly-prospective, Canadian precious and base metal exploration property portfolio which includes its flagship 100%-owned Kenville Gold Mine property in southeastern BC, as well as its 100%-owned
Lansdowne House, Ring of Fire nickel-copper-PGE project in northwestern
Ontario. Further information about the Company may be found at
http://www.anglo-swiss.com or at
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.