Anglo Swiss Resources Acquires Diamond Claims in the 'Ekati Trend'; Company Increases Claims to 170,000 Acres in Lac de Gras, NWT.VANCOUVER, British Columbia -- Anglo Swiss Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ASW)(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASWRF)(BERLIN:AMO) has entered into an agreement with Impala impala, species of antelope, Aepyceros melampus, closely related to the gazelle and found in the savannah and bush country of E and S Africa. It is the antelope most commonly depicted in illustrations and in motion pictures. Resources Inc., a private B.C. company, whereby Anglo Swiss has acquired a 100-per-cent interest to 4 strategically located mineral claims (UL 1&2 and AFR 6&7), covering approximately 10,330 acres situated within the diamond producing area of Lac de Gras Lac de Gras is a lake approximately 300 km north of Yellowknife, Northwest Territories, Canada. Lac de Gras was the centre of the Canadian diamond rush of the 1990s. There are two working diamond mines in the area, Ekati Diamond Mine, and Diavik Diamond Mine. , NWT. Two of the claim groups are located within the newly penned "Ekati Trend" approximately 40 kilometres northeast of the Ekati diamond mine The Ekati Diamond Mine is Canada's first diamond mine. It is located near Lac de Gras at, km ( mi) north-east of Yellowknife, Northwest Territories, and about km ( mi) south of the Arctic circle. Ekati is a joint venture between BHP Billiton Diamonds Inc. ; and two claims are located 35 kilometers south of the DO27 diamondiferous kimberlite currently the focus of detailed exploration by Peregrine Diamonds et al. The company's new claims cover kimberlite indicator minerals (KIM) anomalies and airborne geophysical anomalies which require further work to prioritize drill targets. Anglo Swiss will continue to evaluate other diamond properties within the Lac de Gras/Slave Craton area that meet its acquisition criteria. Anglo Swiss has since June of 2005, positioned itself as the majority holder of over 170,000 acres of claims of merit in under explored areas with unexplained kimberlite indicator mineral trains and/or kimberlite targets near known kimberlites and diamond mining operations. Anglo Swiss has with this announcement acquired a majority interest in four projects which meet the acquisition criteria: The Fry Inlet Diamond property consists of two adjacent properties located near Lac de Gras and lie approximately 60 kilometres north of the Ekati diamond mine, and 90 kilometres north of the Diavik diamond mine The Diavik Diamond Mine is a diamond mine in the North Slave Region of the Northwest Territories, Canada, about km ( mi) north of Yellowknife.[2] It has become an important part of the regional economy, employing 700, grossing C$100 million in sales, and , Canada's first two diamond mines. These claim groups total 91,856 acres and host the LI 201 diamondiferous kimberlite. A technical report with further exploration recommendations has been filed on this property and is available on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review . Work programs will commence this winter. The MS 1-25 claim group covers approximately 52,459 acres in the diamond producing area of Lac de Gras, NWT. This acquisition is located approximately 35 kilometres southeast of the Diavik diamond mine and is proximal to the DO-27 kimberlite currently the focus of detailed exploration by Peregrine Diamonds et al. The MS claims cover kimberlite indicator minerals (KIM) anomalies and airborne geophysical anomalies which require further work to prioritize drill targets this year. The Fishing Lake Diamond property lies about 110 kilometres north of Yellowknife, NWT, toward the western margin of the Slave Craton. The Fishing Lake property covers 16,631 acres and covers a region containing the probable source area for kimberlite indicator mineral trains identified during the first stage of exploration for diamonds on the Slave Craton in the mid 1990's. Work programs will commence this winter. These five claim groups total over 170,000 acres and are the probable source areas for unresolved KIM trains and include known diamondiferous kimberlite and numerous anomalies which warrant additional exploration. Anglo Swiss is currently compiling new and existing information from public and private sources for these claims to better prioritize further exploration, drill targets and bulk sampling. In light of the close proximity to producing diamond mines, the presence of numerous diamondiferous kimberlites and KIMs, management is of the opinion that these properties are highly prospective for the further discovery of diamonds and that the acquisition of these claims significantly enhances the company's property position in the Lac de Gras region. The acquisition of the four additional claims is subject to exchange approval and requires the Company to make cash payments totalling $12,500 and issuing one million shares of Anglo Swiss to the vendor. The vendor retain a 2-per-cent gross overriding royalty (GORR GORR Gross Overriding Royalty ) on any diamond production, of which the company may purchase 1 per cent point for $1.0-million. A kimberlite discovery bonus is included by which the Company will pay to the vendor 200,000 common shares for each new kimberlite discovered, to a maximum of two million shares. McAllister Property, South-east British Columbia In lieu of the Company's major focus on the Lac de Gras region for diamond exploration the Company has retained 8 mineral claims (4,840 acres) in southeastern British Columbia for diamond exploration. The main focus of the McAllister property is the McAllister Diatreme diatreme A volcanic pipe, filled with breccia, formed by a subterranean gaseous explosion. See illustration at batholith. , identified as the host of a potential diamondiferous lamproite. The Company will re-assess the merits of this property within the current exploration year. On behalf of the Board, "Len Danard", President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. THE COMPANY RELIES ON LITIGATION An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. PROTECTION FOR "FORWARD LOOKING" STATEMENTS. THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. HAS NOT REVIEWED AND DOES NOT ACCEPT REPO NSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Anglo Swiss Resources Inc. (TSX VENTURE:ASW) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :ASWRF) (BERLIN:AMO) |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion