VANCOUVER, Feb. 1, 2012 /CNW/ - 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. (http://files.newswire.ca/933/KenvilleMaps.pdf).
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 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.
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.
PDF with caption: "Kenville Maps". PDF available at: http://stream1.newswire.ca/media/2012/02/01/20120201_C8349_DOC_EN_9490.pdf
SOURCE Anglo Swiss Resources Inc.
For further information:
Jari Paakki, CEO
Chris Robbins, Vice President