Swift Resources Inc.
TSX VENTURE : SWR

Swift Resources Inc.

February 09, 2012 15:11 ET

Swift Resources Inc. Provides Property Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2012) - Swift Resources Inc. (the "Company") (TSX VENTURE:SWR) is pleased to provide an update on its properties. The Company has received the analytical results from the recent 14 hole diamond drill program completed on the Castlegar project in southern B.C. In total, 2068 metres of drilling was completed. Three holes were drilled on the Amazing Grace property and 11 holes were drilled on the Klovance property.

Klovance Property

On the Klovance property, drilling tested known zones of polymetallic mineralization, down-dip from surface exposures, as well as testing the broad structural corridor that hosts the zones of mineralization. Two distinctly different styles of mineralization were intersected. Polymetallic veins and veinlets are common, with sphalerite, galena, pyrrhotite, pyrite and chalcopyrite in a quartz-calcite +/- epidote gangue. Although locally grades are attractive, the polymetallic veins are of limited size and are difficult to trace any significant distance. The second style of mineralization consists of stockwork, blebby and net-textured replacements of pyrrhotite, with lesser pyrite and chalcopyrite and only traces of galena and sphalerite. Mineralization of this type was intersected in several holes, over core lengths ranging from 11 m to 60 m. Although visually impressive, the broad zones of pyrrhotite mineralization were only locally significantly anomalous in copper and silver and lacked any noteworthy gold enrichment. Highlights from the drill program are summarized below.

Hole # Sample From To Interval Ag Pb Zn Cu Au
m m m g/t % % % g/t
KL-11-05 22391 98.16 98.50 0.34 39 2.23 7.58 0.474 0.009
KL-11-05 22416 149.32 149.70 0.38 61 0.32 0.18 1.331 <0.005
KL-11-05 22417 149.70 150.18 0.48 410 2.68 4.95 4.416 0.074
Avg 0.86 255.79 1.64 2.84 3.05
KL-11-06 17514 115.00 117.50 2.50 33 0.20 0.34 0.236 0.070
KL-11-06 17515 117.50 120.02 2.52 24 0.17 0.14 0.140 0.011
KL-11-06 17516 120.02 122.50 2.48 16 0.13 0.12 0.122 0.010
Avg 7.50 24.35 0.17 0.20 0.17 0.030
KL-11-06 17526 141.83 142.14 0.31 214 2.69 6.27 0.191 0.023
KL-11-08 17565 79.90 80.83 0.93 12 1.11 0.98 0.026 0.007
KL-11-10 17635 96.56 96.76 0.20 140 5.03 3.41 0.141 0.009
KL-11-11 17682 32.48 32.58 0.10 162 2.79 2.72 0.334 <0.005
KL-11-11 17683 32.58 35.46 2.88 3 0.06 0.11 0.012 <0.005
KL-11-11 17684 35.46 35.58 0.12 124 5.51 6.72 0.089 0.007
KL-11-11 17685 35.58 37.08 1.50 1 0.04 0.04 0.007 <0.005
KL-11-11 17686 37.08 37.19 0.11 65 0.91 1.48 0.073 <0.005
Avg 4.71 10.27 0.27 0.34 0.02
KL-11-11 67493 172.86 172.98 0.12 146 2.86 1.27 0.843 <0.005

Amazing Grace Property

On the Amazing Grace property, hole AG-11-01 was drilled to test the Maude S showing, where narrow gold-bearing quartz veins have been explored by several historic adits. The only result of interest was a narrow quartz vein which returned 454.4 g/t Au and 85 g/t Ag over the 10 cm vein width. Holes AG-11-02 and AG-11-03 were drilled to test the BW vein, where trenching had exposed a narrow vein that returned high grade gold values from select grab samples. The vein was not intersected in either drill hole, nor were there any analytical results of interest from these holes.

All of the analytical results from the drill program have been received and any results of significance are reported in this release. Widths described above are core lengths and have not been corrected to true width. Core was split, with half-core samples shipped to Acme Analytical Laboratories in Vancouver, an ISO 9001:2008 accredited laboratory. Gold analyses were by 30 gram FA/AA (Acme method G601). Silver and base metal assays were by Acme's Group 7AR (multi-element assay by ICP emission spectrometry). A quality control-quality assurance program was implemented by the company during the drill program, including company inserted blanks and standards.

Linda Caron, M.Sc., P.Eng. is the qualified person under NI 43-101 who has reviewed and approved the technical content of this news release.

About the Company

Swift Resources Inc. is a mineral exploration company advancing the Castlegar Gold Project in south-western British Columbia. For additional information about the Company visit our website at www.swiftres.com.

The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.

Neither the TSX Venture Exchange, nor its Regulation Services Providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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