Thursday, 8 October 2009

Anglo Swiss Gold Resource Estimate Moving Upward

Anglo Swiss Resources Inc.
(TSX-V: ASW) (OTCBB: ASWRF) (BERLIN: AMO)
Basic Shares 130.2 million
Fully Diluted 150 million


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Anglo Swiss has now posted its first technical gold resource report called a NI 43-101 with estimates continuing to move in a very positive direction. The data was obtained from what's known as Level 257 at the company's Kenville Gold Mine just outside of Nelson BC.

The report was written by independent Geologist Richard Munroe. He reported larger volumes of gold than initially detailed in an August 5th news release. Level 257 is only one of six levels at Kenville and the report estimates the gold resource to be 373,238 ounces from this level alone.

The Howard Group will soon meet with Anglo Swiss management to review the report to allow us to provide additional commentary on future operational plans.

Richard Munroe will be working to complete another report on Kenvilles' next level up known as Level 275. Rehabilitation of this level had been taking place over the summer with the company planning on determining a gold resource from this level as a priority.

Further proposed exploration discussed in the news release includes initiating an extensive drilling program both below and above ground. Anglo also plans to drift (blast) underground from level 257 to the discovered Eagle Vein system which is known to host similar mineralization as Level 257.

The company also stated that it plans to complete its upgraded mill facility to allow it to produce gold which will further fund the company's exploration and operations.

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 373,238 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.

The report can be viewed in its entirety by clicking here..........

Resources aside, an important point to remember about Anglo 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.