Anglo Swiss Resources Inc.
OTC Bulletin Board : ASWRF

Anglo Swiss Resources Inc.

December 06, 2007 09:01 ET

Anglo Swiss Resources Inc. Provides Overview of Recently Completed Kenville Diamond Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 6, 2007) - Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) in anticipation of analytical results for the recently completed diamond drill program on the Kenville Mine property, near Nelson, BC, wishes to provide an overview discussion of the drill program.

The 2007 drilling program was carried out over a small portion of a large surveyed grid area located on the west side of the Kenville property. The original grid area was established in 1995 as part of exploration programs carried out by Teck Exploration Ltd. Teck originally investigated the potential for a porphyry copper deposit, as was indicated by drill logs for two drill holes from a 1945 drill program on the property. Teck carried out diamond drilling programs in 1995 and 1996 with the drilling of 5-holes in 1995 and 7-holes in 1996. Although encouraging results were obtained in the majority of the drill holes, the lack of adequate access prevented a more thorough investigation of the more promising target areas on the property.

Since the Teck exploration work, Anglo Swiss expanded the grid area on the western side of the property. Geochemical soil surveys have been carried out in various stages, resulting in the recognition of strong, well-defined copper + silver + molybdenum anomalies, covering a distance of at least 1 kilometer. New road access has been established through the grid area, thus allowing more advantageous locations for drill testing of prospective mineral zones.

During September of 2007, an Induced Polarization survey was carried out on the grid area by Insight Geophysics and MPH Consulting of Ontario. A total of 18.7 line-km of gradient and 5.9 line-km of high resolution (25 m data point spacing) Insight Section resistivity and chargeability data were collected, covering approximately 20% of the property. The survey was carried out on 50-meter line spacings, thus providing excellent detail for interpretation of survey data.

These data have been interpreted, in the context of the ore deposit model for the property, to indicate possible alteration zones associated with porphyry style copper (Cu), molybdenum (Mo), gold (Au) and silver (Ag) mineralization. Moderately high, and roughly N-S trending, chargeability anomalies are coincident with historical Teck copper and molybdenum soil geochemical anomalies.

A Phase One diamond-drilling program totaling 1365 meters (4478 feet) was carried out by Full Force Drilling for Anglo Swiss in October 2007. The drilling consisted of 5-drill holes, drilled from 3 set-up locations. Drill holes AK07-01 and AK07-02 were drilled from the first set-up location (Line 2500N, 140W), while drill hole AK07-03 was also drilled on Line 2500N at station 325W. Drill holes AK07-04 and AK07-05 were drilled from a third common location on Line 2600N at station 225W.

The following table summarizes some of the significant visual results from the 2007 drill program:

Loca- Direction Dip
Hole No. tion (azimuth) angle Length Results
AK07-01 2500N, East -45 369.4 m Porphyry style disseminated
140W (1212') copper (mainly chalcopyrite)
was encountered at the top of
drill hole to approximately 25
meters (82 feet) depth in the
hole. A second larger zone of
consistent disseminated
chalcopyrite mineralization
was encountered from 145
meters to 215 meters (70
meters) or from 476 feet to
689 feet (229 feet).
AK07-02 2500N West -80 195.1 m Sporadic zones of copper
140W (640') mineralization were
encountered within foliated
diorites from surface to 58.6
meters (192.25 feet) depth. A
separate zone of disseminated
chalcopyrite occurs within
silicified diorite over the
interval 157.3 to 168.3 meters
(516 to 552 feet).
AK07-03 2500N East -45 150.0 m Variable silicification
325W (492') (quartz replacement), from the
top of the drill hole to 89.7
meters (294.3 feet) depth,
with localized pyrite and
AK07-04 2600N East -45 325.2 m Pervasive silicification from
225W (1067') 164.0 to 205.4 meters (41.4
meters or 136 feet) with
pervasive disseminated

Multiple well-mineralized
Eagle veins between 290.5 to
295.2 meters (4.7 meters or
15.4 feet). Mineralization
consists of coarse clots and
disseminations of pyrite,
chalcopyrite and trace galena.
AK07-05 2600N East -55 325.2 m The Eagle vein was intersected
225W (1067') in drill hole AK07-05 from
291.4 meters to 293.05 meters,
which represents a close to
true-width intersection of
1.65 meters or 5.4 feet. The
vein is strongly mineralized
with clots of pyrite,
chalcopyrite and trace galena.

It should be emphasized that the area tested by the 2007 Kenville diamond drill only covered 100 meters of north-south distance of the 1000 meter established grid length, with the entire grid area representing about 20% of the entire Kenville property.

Given the very promising visual results obtained from the 2007 Phase One drill program, within a small area of the property, the company is highly encouraged towards the ongoing exploration of the Kenville property. Based on what has been seen in the 2007 drill holes, in combination with some very encouraging results obtained from several of the 1995-1996 Teck drill holes, a copper-gold porphyry deposit model continues to be developed. Well-defined coincident geochemical and Induced Polarization anomalies, throughout the extent of the grid area are also supportive of a sizable mineralized porphyry body.

In addition to the porphyry model, Anglo Swiss is excited and encouraged by the well mineralized Eagle vein intersections as found in drill holes AK07-04 and AK07-05. With these two intersections, the vein is now known to extend for at least 150 meters or about 500 feet from the vein intersections in Teck drill holes TK95-04 and TK95-05. Visible gold was seen in both of the Teck drill hole Eagle vein intercepts, with the highest value of 82.15 grams per tonne gold (2.4 oz/Ton Au) and 34.1 grams per tonne silver (1 oz/Ton Ag) returned in TK95-05 across 0.26 meters or 0.85 feet. The Eagle vein system is expected to continue beyond its known 150 meters strike length and also expected to continue to greater depths.

The Kenville property contains a type of mineralization typical of an alkalic copper-gold porphyry deposit type, in which concentrations of pyrite, chalcopyrite, bornite and magnetite occur within large bodies of porphyritic diorites. British Columbia alkalic porphyry deposits range from less than 10 million to greater than 500 million tonnes and contain from 0.2 to 1.5% copper, 0.2 to 0.6 grams per tonne gold and greater than 2 grams per tonne silver. Molybdenum contents are generally negligible.

Known British Columbia alkalic porphyry deposits include the New Afton deposit, near Kamloops, BC (66 million tones grading 1.02% Cu, 0.77 g/t Au and 2.59 g/t Ag), Mount Polley, near Williams Lake, BC (40 million tonnes grading 0.448% Cu and 0.318 g/t Au) and Galore Creek in Northern BC (540 million tonnes grading 0.557% Cu and 0.303 g/t Au).

The bulk of the analytical results for the 2007 Kenville drill program will be received in January, 2008. Due to the success of the Phase One drill program, Anglo Swiss is preparing for a Phase Two 10,000-meter diamond drill program in anticipation of expanding both the copper-gold porphyry and gold-silver vein potential of the Kenville property.

In conclusion, the Kenville is definitely a property of merit. This is stated in context of the historical aspects of Kenville in conjunction with Teck's work and our recently completed technical analysis and drilling program.

The initial indicators are very positive and we are looking forward to receiving the assay results, which will be a key part of solidifying our 2008 programs.

About Anglo Swiss Resources:

The technical contents of this release have been approved by Greg Thomson, P. Geo., a Qualified Person as defined in NI 43-101.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

Contact Information

  • Anglo Swiss Resources Inc.
    Len Danard
    President & Chief Executive Officer
    (604) 683-0484
    (604) 683-7497 (FAX)
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    Jeff Walker
    Investor Relations - Canada
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