Corporate Update and Positive News from Company's Recent Drill Results at 'Governor Broome' Prospect.SCOTTSDALE, Ariz. -- American Southwest Holdings Inc. (Pink Sheets: ASWT), held their shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. , March 28, 2005, in Scottsdale, Ariz. At this meeting the number of authorized shares of common stock was increased to 300,000,000 shares. The president, Alan Doyle, advised the meeting that the current drill program has been completed. Based on the results of the first 34 drill holes of the 200 drill hole program, in the target zone that have been assayed to date, all of which encountered mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , the percentage of heavy metal reported is grading at 6.75% MH of which 95% is VHM VHM Vibration Health Monitoring (aviation) VHM Visible Human Male VHM Volume Holographic Memory VHM Virtual Hardware Monitor VHM VividHues Magazine . The average depth to the top of the rezone re·zone tr.v. re·zoned, re·zon·ing, re·zones To change the zoning classification of (a neighborhood or property, for example). re is 6.8 meters and the average thickness encountered to date is 5.2 meters. The results occur within two strand systems, both of which remain open. Results to date from the current envelopes would indicate a tonnage of about 8 MT. It is possible that as further results come to hand, this tonnage will increase substantially with a target of 50 MT at 5% MH being achieved. This would give the company a strategic resource on a global scale. The mineral suite is attractive, having good zircon zircon Silicate mineral, zirconium silicate, ZrSiO4, the principal source of zirconium. Zircon is widespread as an accessory mineral in acid igneous rocks; it also occurs in metamorphic rocks and, fairly often, in detrital deposits. and garnet credits, and a suite of ilmenite ilmenite (ĭl`mĕnīt), black mineral, iron titanium oxide, FeTiO3, crystallizing in the hexagonal system. It is sometimes found as tabular hexagonal crystals but occurs more commonly as small grains in igneous and metamorphic materials that are capable of producing a high titanium product, which may command a significant premium over average rutile rutile, mineral, one of three forms of titanium dioxide (TiO2; see titanium). It occurs in crystals, often in twins or rosettes, and is typically brownish red, although there are black varieties. pricing. As details of further drill results come to hand, further announcements will be forthcoming. The Metal Sands acquisition, which has extensive interests in the titanium mineral sands industry, has allowed us to "carve out" a significant position in the mineral sands sector in Australia. American Southwest now holds approximately 20% of the known titanium resources in Australia, which is the world's largest producer of this product. The company is currently negotiating with a number of interested offshore parties to raise up to $5,000,000.00. Preliminary engineering studies have commenced on the "Governor Broome" prospect with an expectation that the company will enter into a full-stage feasibility study once all of the drill results have been received. The "Governor Broome" prospect is located in a very favorable area in terms of infrastructure for the mineral sands industry. There are several producing mines in the area and the government has produced infrastructure such as roads, power and port facilities at no cost to the companies in order to maintain an active mining industry in this area of Western Australia. |
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