Anglo Swiss Outlines Drill-Ready Flake Graphite Target at Blu Starr
20 Jun, 2013, 09:00 ET
VANCOUVER, June 20, 2013 /CNW/ - Anglo Swiss Resources Inc. (ASW: TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") is pleased to announce that on-going prospecting on its Blu Starr Property in southeastern British Columbia has identified several flake graphite occurrences within a 350 metre thick interval of relatively flat lying rocks at the north end of the property. The occurrences expand the limits of the Tedesco graphite showing with seventeen surface grab samples from separate locales returning up to 4.43% C (graphite). The Tedesco showing has a potential strike length of 3 km as defined by a prominent electromagnetic (EM) conductor, and remains untested by drilling. (http://files.newswire.ca/933/angloswiss0620.pdf). Additional assays are pending.
Recent prospecting has covered only a small portion of the 65 sq. km Blu Starr property which adjoins Eagle Graphite Corporation's flake graphite mine, one of only two operational natural flake graphite mines in North America. Blu Starr covers the southern extension of favourable host rocks to flake graphite. The Tedesco showing represents the erosional edge of several graphitic units which extend into the sub-surface. At Tedesco, graphite occurs as disseminated large flakes hosted in interlayered gneisses, marbles and calc-silicates within elevations of 1,029 m to 1,376 m. Exposed graphitic units range from less than one metre to apparent thicknesses of several metres; however, due to local lack of surface exposure, the total thickness and the number of graphitic units are unknown. Estimates from previous regional mapping indicate thickness of graphitic units may be 50 metres.
"The Tedesco showing is now drill-ready. The target is a thick flake graphite unit(s) within the stratigraphic bounding limits of graphite occurrences defined by our prospecting and along its 3 km strike length. Exploration permits have been submitted and the Company is considering its financing options to complete a first phase drill program and to continue with prospecting to prioritize other targets on the property. Four additional large EM conductors identified in a 2012 airborne survey completed by the Company have yet to be prospected," commented Jari Paakki, Chief Executive Officer.
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. Assaying was completed by ALS Labs in Vancouver using method code C-IR06. Surface grab samples are selective by nature and are unlikely to represent the average grade on the property; however, higher grades could be expected as outcropping graphite mineralization may not adequately explain the coherent EM conductor at Tedesco. Prospecting was initiated in 2012. Assays for samples collected in 2013 are pending.
Graphite is a naturally occurring form of carbon and is an excellent conductor of both electricity and heat. It is a critical component in the increasing demand in alternative energy solutions, including portable electronics and hybrid and electric vehicles, solar and wind power and fuel cells, on top of traditional uses such as steel production, lubricants and brake linings. In pricing graphite, the flake size and purity are key factors with large flake, ultra purity graphite product commanding the highest prices in the markets.
About Anglo Swiss:
Anglo Swiss Resources Inc. is a Canadian based exploration company with current assets including its Kenville Gold Mine and Blu Starr Flake Graphite properties in southeastern BC both a short drive from the city of Nelson, and its Lansdowne House, Ring of Fire Nickel-Copper-PGE property in northwestern Ontario. Further information about the Company may be found in the Company presentation 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.
PDF available at: http://stream1.newswire.ca/media/2013/06/20/20130620_C9874_DOC_EN_28300.pdf
SOURCE: Anglo Swiss Resources Inc.
For further information:
Jari Paakki, CEO
Chris Robbins, Vice President
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