Tuesday, 31 March 2009

Multi Million Dollar Resource Sits On Top Of Gold Mine

Anglo Swiss Resources Inc.
Basic Shares 100.5 million
Fully Diluted 129.5 million

Anglo Swiss is not only busy proving up a gold and copper resource but today the company announced its cash flow opportunity from the surface of its Kenville property located in south-eastern British Columbia.
According to an independent technical report that is called a 43-101, ASW has a resource of over 16.5 million tonnes on just a portion of the Kenville property.

Munroe Geological Services utilized computer modeling of data obtained from a total of 79 sites comprised of trenching and drill holes from the 2007 and 2008 exploration programs. The 43-101 compliant resource report is important in terms of its recognition by the stock exchange and regulators.

Last year, Anglo sold small amounts of sand and gravel to the local Kootenay region at between $15 and $18 per tonne. Multiply that by the 16.5 million tonnes and the number jumps through $200 million. The beauty of this asset is that it should generate more than sufficient cash flow to fund all gold processing operations at a new mill plus ongoing exploration. When this comes to pass, ASW will be in a unique position compared to the hundreds of other junior exploration companies that are fighting for dollars these days.

Management is in the throes of securing 200 tonne/hour processing equipment for the aggregate operation and is targeting a late summer start. The company has applied for an amendment to its existing quarry permit, which is required prior to full start-up.

The great unknown is what type of cash could be thrown off by what we'll call the "industrial aspect" of the ASW story? This is very good news for the "what if" scenario.

The area that has been studied for this report covers just over half of the Kenville property. As well, there is more aggregate material over the remainder of the property that has not yet been quantified.

Even further good news lies in the fact that there is gold and other valuable minerals in this aggregate that will be processed before it is sold. The cash potential from this is not considered in the $15 - $18 per tonne.

The full MGS report can be viewed by clicking here

Anglo is in a strong commercial position as it is already permitted to supply construction grade materials processed from its waste rock from the mine shafts. According to ASW management, the local market from the south-eastern Kootenay area to the northwestern United States is facing a shortfall in construction aggregate material.
See full news release by clicking here......