Anglo Swiss Resources Receives the 'Fry Inlet Diamond Property Report' Located 25 Kilometers North of the Ekati Diamond Mine, 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 ASW Antisubmarine Warfare ASW Approved Social Worker ASW Application Software ASW a Small World (online community) ASW Art Supply Warehouse ASW Artificial Sea Water ASW Australian Standard White (wheat) )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ASWRF)(BERLIN:AMO AMO - America's Multimedia Online ) has filed a report for the "Fry Inlet Diamond Property" by Derrick Strickland, PGeo., dated November 15, 2005. The full report is available on www.SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review .com and should be referred to with this release. Anglo Swiss Resources Inc. acquired the Fry Inlet Diamond property consisting of 42 contiguous mineral claims, which is located approximately 360 km north-northeast of Yellowknife at approximately 65 degrees 15' N latitude and 110 degrees 57' W longitude. The claims are immediately to the west of Fry Inlet Lake and directly 25 km east of the Ranch lake kimberlite and 25 km north of the BHP Billiton Diamonds Inc. Ekati Mine property. The claims were acquired in two separate transaction in June of 2005; the New Shoshoni option/joint venture for up to 60% and the PQ claims for a 100% interest totaling over 90,000 acres. Previous exploration programs by Kennecott Canada Exploration in 1997 identified a kimberlite body on the property (LI-201). Kennecott drilled four holes, two of which intersected LI-201, and retrieved 14 macro-diamonds and 46 micro-diamonds from 281.1 kg of kimberlite. A review of the publicly available data has indicated the following; - There are some unresolved indicator mineral trains possibly indicating the presence of undiscovered kimberlites on the Fry Inlet Diamond Property. - The property is under explored by modern exploration technology. - There are 8 reported geophysical anomalies. - The property is in an area known to produce diamondiferous kimberlite (LI-201). - The current understanding of LI-201 leaves more questions than answers. Geophysical surveys suggest that the body may be larger with only two preliminary drill holes encountering kimberlite. Encouraging macro and micro diamond counts indicate that LI-201 kimberlite has tapped the diamond stability field. Anglo Swiss is an exploration company focused on locating diamond-bearing kimberlites in the 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. area, NWT NWT or N.W.T. abbr. Northwest Territories NWT Northwest Territories (of Canada) , Canada. The Company's philosophy is to obtain majority ownership of under-explored areas with unexplained kimberlite indicator mineral trains ("KIM's") and/or kimberlite targets near known kimberlites and diamond mining operations. Anglo Swiss has now acquired three separate and distinct diamond projects which meet the acquisition criteria. The Company has a majority interest in three projects covering over 160,000 acres which contain the probable source areas for unresolved KIM trains and include known diamondiferous kimberlite that warrants additional exploration. In light of the close proximity to producing diamond mines, the presence of numerous diamondiferous kimberlites and KIM's, 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. Anglo Swiss is currently compiling new and existing information from public and private sources for these projects, and has completed a program of selected till sampling in the field to better prioritize further exploration and drill targets. Results will be announced shortly. Anglo Swiss will continue to evaluate other diamond properties within the Lac de Gras/Slave Craton NWT area that meet its acquisition criteria. Anglo Swiss intends to position itself as a majority holder 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. 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 resp onsibility 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