Wednesday, 5 August 2009

Anglo Swiss Defines Gold Resource On One Of Six Levels

Anglo Swiss Resources Inc.
(TSX-V: ASW) (OTCBB: ASWRF) (BERLIN: AMO)
Basic Shares 130.2 million
Fully Diluted 150 million
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Please click the picture or the link at the end of the commentary to watch the video of the Kenville Mine Tour
In a day long-awaited, the Kenville Gold Mine just outside Nelson British Columbia has received its first gold resource report called a NI 43-101 on one of six levels known as Level 257.

The report indicates that the gold resource from level 257 alone is 250,845 ounces of gold. This report was completed by Geologist Richard Munroe and can be viewed in its entirety once posted on SEDAR within 45 days.

The numbers that are mentioned in today's news from the report are classified in three categories of tonnage and values; Measured, Indicated and Inferred. The vast majority of the 250, 845 ounces of gold is in the Inferred category. See full definitions of these category's at the bottom of the page taken from CIM Definition Standards Page 4 - November 22, 2005.

This report is a new beginning for Anglo Swiss. The company has already started planning to further define its gold reserves on the next higher level called Level 275. Anglo plans to have Richard Munroe start a new report on level 275 this summer.

Over the past few years Anglo has been referring to Kenville's historical values based on what was found in the record books. This report brings the company up to today's standards of reporting and leaves it compliant in the eyes of the securities commission.

The news release today states that Anglo was required to clarify some of its past disclosure and reporting because Anglo had mentioned non-compliant resource estimates based on historical records. Now that the company has gone through a thorough scrutiny with the B.C. Securities Commission, shareholders can be confidant that future reporting will be fully compliant.

Reserves aside, an important point to remember about ASW is that there is substantial infrastructure in place with existing underground access to quantified reserves. This will mean considerable cost savings going forward.

Inferred Mineral Resource
An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies.

Indicated Mineral Resource
An ‘Indicated Mineral Resource’ is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

Mineralization may be classified as an Indicated Mineral Resource by the Qualified Person when the nature, quality, quantity and distribution of data are such as to allow confident interpretation of the geological framework and to reasonably assume the continuity of mineralization. The Qualified Person must recognize the importance of the Indicated Mineral Resource category to the advancement of the feasibility of the project. An Indicated Mineral Resource estimate is of sufficient quality to support a Preliminary Feasibility Study which can serve as the basis for major development decisions.

Measured Mineral Resource
A ‘Measured Mineral Resource’ is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

Mineralization or other natural material of economic interest may be classified as a Measured Mineral Resource by the Qualified Person when the nature, quality, quantity and distribution of data are such that the tonnage and grade of the mineralization can be estimated to within close limits and that variation from the estimate would not significantly affect potential economic viability. This category requires a high level of confidence in, and understanding of, the geology and controls of the mineral deposit.

See full news release by clicking here.........

Watch the film of the Kenville mine tour with Richard Munroe by clicking here................