VANCOUVER, Oct. 3, 2012 /CNW/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") is pleased to announce plans to commence an airborne electromagnetic (EM) survey over its Blu Starr Flake Graphite Property located near Nelson in southeastern BC. The property adjoins Eagle Graphite Corporation's flake graphite operation which is one of only two natural flake graphite mines in North America. Next to Eagle Graphite, Anglo Swiss holds the largest land package covering 6,473 hectare (~65 sq. km) in the southern part of the favourable Valhalla Metamorphic Complex (see attached maps).
The planned ~550 line-kilometre survey will complete EM geophysical coverage over the entire property expanding on the 2010 survey completed by the Company. The earlier survey outlined a three kilometre long, shallow south-dipping conductor on the north side of Perry Peak which correlates well with numerous outcrops of large flake graphite occurrences known as the Tedesco showing. At this time the total thickness of the graphite bearing units is unknown as this conductor has not been drill tested. The new EM survey will cover the southern half of Perry Peak and central part of the property with the goal of identifying the possible southern extension of Tedesco as well as new large EM conductors. Aeroquest Airborne Limited will be conducting the EM survey utilizing the AeroTEM IV system.
The Company also announces that Mr. David Constable is resigning as Chairman and Director of the Company due to other workload commitments but will remain with the Company as Special Advisor. Jari Paakki, CEO of the Company, commented "We look forward to the continued working relationship with Mr. Constable. His extensive industry experience will greatly assist the Company as we actively evaluate our current assets and options moving forward."
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. is a Canadian based exploration company with a current portfolio of precious and base metal, and flake graphite exploration properties which includes its 100%-owned Kenville Gold Mine and Blu Starr Graphite properties 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 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.
SOURCE: Anglo Swiss Resources Inc.
For further information:
Jari Paakki, CEO
Tel: 705-673-5462 ext. 227
Chris Robbins, Vice President