VANCOUVER, May 9, 2012 /CNW/ - Anglo Swiss Resources Inc. (ASW:TSX-V, ASWRF: PK) ("Anglo Swiss" or the "Company") is pleased to announce plans to commence prospecting at its Blu Starr Graphite Property in the Slocan Valley near the city of Nelson in southeastern BC. The property is located south of Eagle Graphite Corporation's flake graphite operation and adjoins their claim group. Eagle Graphite is one of only two natural flake graphite mines operating in North America (see attached maps).
The 6,473 hectare (~65 sq. km) property covers high-grade metamorphic rocks of the Valhalla Metamorphic Complex which hosts favourable horizons with flake graphite. Next to Eagle Graphite, Anglo Swiss has one of the largest claim holdings covering the Valhalla Metamorphic Complex in the region. Flake graphite occurrences are known on the Blu Starr property. In the northern part of Blu Starr up to 15% graphite has been mapped in outcrop and appears associated with a three kilometre long electromagnetic (EM) anomaly identified in an airborne geophysical survey completed by the Company in 2010. Less than 25% of the property was covered by this airborne survey.
Jari Paakki, CEO of the Company, commented "With escalating interest in flake graphite we are in a great position having a quality, road accessible graphite project in one of North America's top graphite producing regions in our portfolio. Prospecting will target prospective horizons that host flake graphite as soon as weather conditions permit. Large portions of the property are expected to be clear of snow cover at the end of May."
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. also 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