Friday, 25 June 2010

Anglo Swiss Drilling Phase One - Finally

Anglo Swiss Resources Inc.
(TSX-V: ASW) (OTCBB: ASWRF) (BERLIN: AMO)
Basic Shares 138.2 million
Fully Diluted 168 million



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Well, it's finally here much to the relief of everyone. The first of 5 drill permits arrived at Anglo's office in the last 48 hours meaning that drilling can start immediately on the company's Gold Hill portion of its Nelson Mining Camp.


Government bureaucracy has caused shareholders much grief over the last couple of months as the B.C. Government was extremely slow and quite behind in issuing the permits. As hard as this delay was on shareholders, management of Anglo have been extremely frustrated as the delay has cost the company substantial time and money.

Approximately 5,000 metres of drilling will take place in phase 1. The first permit allows for 1,050 metres of drilling on the Gold Hill property. Gold Hill was recently identified from an airborne survey and has a strike length of over 4 kilometres.

While Anglo is waiting for the remaining 4 permits, each covering new areas where anomalies have been identified, it will continue surface work and mapping to further refine the other drill targets planned to start this summer.
It's our understanding that the next permit is expected in the latter part of July to be followed by the others in early to mid-August.