Anglo Swiss Permit For Nelson Mining Camp Property
Anglo Swiss Resources Inc. (TSXV:ASW, OTCQX:ASWRF) has announced that it has received a new multi-year exploration and drill permit which facilitates the commencement of an extensive exploration and drill program at its Nelson Mining Camp Property, which includes its 100%-owned Kenville Gold Mine.
The initial phase 2,000-metre drill campaign began today testing areas south of the Venango veins located west of the Kenville Mine. The program will then follow-up on the recent drill programs, and continue to test the strike extent of the high-grade veins intercepted 500 metres to the south of the Kenville Mine. These vein systems remain open in all directions and appear to increase in density south of the mine.
Once the initial drill program is complete, the Company intends to initiate NI 43-101 resource estimates south of the Kenville Mine. Additionally, permits are in place for underground exploration including drilling and rehabilitation of the 275-level (one of seven levels) of the Kenville Mine. The drill programs, and rehabilitation of the 275-level will occur concurrently. Once rehabilitation of the 275-level is complete NI 43-101 resource work will commence. Further, Anglo Swiss has initiated permitting plans for a bulk-sampling program to provide a more precise measure of gold grades and additional information for resource estimates. Currently there is a NI 43-101 resource outlined on the 257-level of the Kenville Mine, which includes an inferred resource of 357,000 ounces of gold at a grade of 0.68 oz/t gold. (Source: Munroe, 2009) Until an economic evaluation is completed, the economic cut off for this deposit is unknown. Mineral resources are not mineral reserves and do not have demonstrated economic viability. This resource is reported at a cut-off grade of 0.00 oz/t gold.
“These are all important steps required to build upon the existing gold resource. As well as evaluating additional resources in the existing mine workings area, the positive drill results in 2010/2011 indicate that gold resources likely extend south of the Kenville Mine. In fact, the current footprint of the Kenville south extension is larger than that of the historic mine workings at Kenville, and those vein systems remain open for expansion,” commented Jari Paakki, CEO.
Anglo Swiss’ technical team has been working diligently over the past few months compiling extensive amounts of data dating back to the 1940s on the Kenville Mine property as well as the extensive land holdings assembled during 2009/2010, which now make up the Nelson Mining Camp. This is the first time that the contiguous, 165 square kilometre property has been controlled by one operator. Anglo Swiss has now built a comprehensive digital database and knowledge base to build and advance the project.
Anglo Swiss Resources Inc. controls a highly-prospective, Canadian, precious and base metal exploration property portfolio which includes its flagship 160 sq. km, Nelson Mining Camp, that hosts the 100%-owned Kenville Gold Mine, in southeastern BC; as well as its newly acquired 100%-owned, Lansdowne House, Ring of Fire project in northwestern Ontario.
Posted September 1, 2011
