Monday, 29 June 2009

Anglo Swiss Has 178 Meter Strike Of Gold Averaging 72 Grams Per Tonne

Anglo Swiss Resources Inc.
Basic Shares 130.2 million
Fully Diluted 150 million

Strong assay samples continue to come in from Anglo Swiss' underground 257 level which are being used to complete a NI 43-101 resource report due in early July. This report will be a milestone achievement for the company. It will serve as a base document for additional gold resources to be added as the company continues to explore the six other levels at the Kenville Gold Mine just outside of Nelson British Columbia.

It is rare for an exploration company to post such rich gold results with 10 of the 32 samples assaying above 100 g/t. The average of the 32 samples taken from the North Yule Vein inside the lower Main Haulage 257 is 72.27 g/t. Many gold mines are in full production worldwide with average ore grades between two and five grams per tonne of gold.

Over the past couple of days there has been renewed market interest in the story with the stock in the $0.35 to $0.40 range compared to $0.20 in mid-June. The next key piece of news will be the resource report as it will begin to quantify what ASW is sitting on, which should start to grab additional market attention.

See full news release here........

Another piece of the Anglo Swiss puzzle was placed yesterday when the company announced that it can now assay its own samples on site.

All of Anglo's exploration samples are sent off to be assayed at two independent labs as well, International Plasma Laboratory and Assayers Canada. There are major advantages to having its own lab especially when it comes to turn around time. The independents take weeks while Anglo can process a sample in hours. All three assays can always be cross checked for confirmation of results.

Anglo can use this lab to ensure that the ore being fed into its own mill is the same going in as it is coming out. If Anglo knows that the ore being fed into the mill has 10 grams of gold per tonne going in it also knows what should be recovered after processing and is a second check to ensure full recovery of the precious metals.

The company will also use the in house lab during exploration as it can check and see if it is on track quickly.

On that note, the company is not yet in a position where it can begin processing gold as it needs to complete its mill before it can look at generating cash flow. It will need to raise capital to purchase the final pieces of equipment to make the mill operational.

See full news release here.........