Anglo Swiss Updates Kenville Gold Mine Property Status
31 Dec, 2013, 18:14 ET
VANCOUVER, Dec. 31, 2013 /CNW/ - Anglo Swiss Resources Inc. (TSXV: ASW) (PK: ASWRF) ("AngloSwiss" or the "Company") announces that Eagle Creek Gold Corp. ("Eagle Creek") has failed to raise necessary funds to complete the transaction to purchase the Kenville Gold Mine Property as at the Closing Date of December 30, 2013 and the Vending Agreement with Eagle Creek has been terminated. The Company retains 100% ownership in the property and will pursue a new buyer and also continue to assist Eagle Creek as they have expressed their continued interest in acquiring the property on terms to be negotiated.
The Kenville mine dates back to 1888 representing one of BC's oldest operational gold mines. It operated intermittently for 60 years, but has not been in production for more than six decades. Recent exploration work by Anglo Swiss has significantly expanded the extent of high-grade gold veins outlining the Eagle Veins, Flat Vein and South Zone which collectively have a footprint much larger than the historic workings (see Figure 1). Future work would focus on these newly identified gold veins as well as unmined veins near existing workings.
ON BEHALF OF THE BOARD OF DIRECTORS,
Jari Paakki, P.Geo.
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, and its Lansdowne House, Ring of Fire Nickel-Copper-PGE property 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 available at: http://stream1.newswire.ca/media/2013/12/31/20131231_C6935_DOC_EN_35270.pdf
SOURCE: Anglo Swiss Resources Inc.
For further information:
Jari Paakki, CEO
Chris Robbins, Vice President
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