VANCOUVER, May 7, 2012 /CNW/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") is pleased to announce the discovery of a potentially new gold mineralized structure and continued south expansion of high-grade gold veins at the Kenville gold project in southeastern BC. See drill hole results table below and attached maps (http://files.newswire.ca/951/Kenville_KE12-holes.pdf).
The newly identified structure is a two kilometre long magnetic low trend located west of the historic high-grade Kenville Gold Mine. It was identified in a detailed airborne geophysical survey, earlier completed by the Company, as a potentially important feature due to its similarity to the low magnetic signature associated with the Kenville Gold Mine. Drill Hole KE12-05, the first drill hole testing this trend, intersected 26.1 metres grading 0.41 g/t Au. Gold mineralization in drill hole KE12-05 occurs within a broader zone of disseminated pyrite hosted in variably altered diorite with occasional quartz veins with base metal sulphides. Anomalous copper and silver occur within the interval.
In-fill and expansion drilling south of historic Kenville mine workings continues to intersect several high-grade gold veins. Drill holes KE12-02, -03 and -04 all cut high-grade gold veins assaying up to 20.8 g/t Au over short intervals. Drill hole KE12-04, drilled on the Ron Option claims, significantly extends the high-grade vein system now more than 800 metres south of historic Kenville mine workings where the trend remains completely open at depth and further along strike. Anglo Swiss has an option to earn 60% interest in the Ron Claims from Klondike Gold Corp (see news release dated September 23, 2011).
Anglo Swiss has completed five holes totalling 2,775 metres in 2012 at the Kenville gold project. Results for the first drill hole, KE12-01, were reported earlier with KE12-01 intersecting ten separate high-grade gold veins over a core length of 400 metres including 14.14 g/t Au over 3.08 metres (see news release dated March 21, 2012).
Jari Paakki, CEO of the Company, commented "We are pleased with the initial results of the 2012 drill program at Kenville which have significantly expanded the exploration potential on the property. Confirmation of gold mineralization on the westerly magnetic low trend now provides an additional target on the Kenville project. The style of mineralization intersected in hole KE12-05 suggest potential for wider zones of more disseminated style gold mineralization. We plan to resume drilling in the second quarter."
Table 1: Assay Results for Drill Holes KE12-02 to KE12-05
|Hole_ID||From (m)||To (m)||Core Length (m)||Au (g/t)||Ag (g/t)||Cu (%)|
Anglo Swiss implements a quality control (QA/QC) program to ensure best practice in sampling and analysis. Samples of split NQ2-size core are transported by Company personnel in securely sealed bags for preparation and analysis at ALS Minerals facilities. The remaining half of the core is kept as a permanent record and stored at a secure facility at the Kenville Mine site in Nelson, BC. Core samples are analyzed for gold using a 30 gram fire assay and gravimetric finish.
Jari Paakki, P. Geo., 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 http://www.sedar.com.
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.
For further information:
Jari Paakki, CEO
Tel: 705-673-5462 ext. 227
Chris Robbins, Vice President