Tuesday, 4 March 2008

Anglo Swiss Finds Diamonds In Latest Drill Program

Anglo Swiss Resources (TSX-V: ASW) (OTCBB: ASWRF) (BERLIN: AMO)

The much anticipated assay results from Anglo Swiss' drilling program in the Northwest Territories are finally here. In total, five drill holes totaling 421.6 meters were completed in the company's search for diamonds between August and September of last year.

Anglo Swiss had originally planned to drill 1500 metres but fell short due to mechanical problems and the onset of winter.


Of the five drill holes completed, two of them intercepted kimberlite, which is a rare rock formation that is known to contain diamonds.

In total 30 micro diamonds were found in the samples tested from the 58 kilograms of kimberlite equating to 293 diamonds per tonne.

What the company has learned is that it is in the right area but much more work has to be done to test its potential. Previous drilling was completed on the property by Kennecott in the 1990's and it found 60 diamonds, including three macro size diamonds, in two holes. More drilling is needed to further define the size of the kimberlite zone. In advance of employing the drill bit, ASW is proposing a geophysics program for the upcoming season.

Anglo Swiss has the ability to earn up to 60% interest in this Fry Inlet property. The company is in year three of a five year joint venture agreement with New Shoshoni Ventures Ltd.

See full news release.