Anglo Swiss Resources Inc ASW
Shares issued 37,809,035 May 5 close $0.31
Thu 6 May 99 News Release
Mr. Len Danard reports
Anglo Swiss Resources has started this year's gemstone exploration season
on the Blu Starr property, in the Slocan Valley, southeastern British
Columbia. Approximately 1,000 tonnes of high-grade iolite ore will be
extracted and processed on site, upon final work permit approval and
completion of a new access road in early May.
Iolite is a unique gemstone, which like tanzanite, displays different
colours when observed from different angles. An iolite gemstone will look
violet-blue almost like a sapphire from one direction, clear as water from
another, and a honey yellow from a third direction.
Samples of gem-quality iolite and garnet were recently analyzed by Chemex
Labs of North Vancouver, for whole-rock and multielement analysis. The
whole-rock analysis will assist in defining the exact nature of the
almandine-pyrope gem garnet, which is thought to be a new variety. The
unusual colour and brilliance of the gems may be caused by a high chrome
content, 0.09 per cent in the garnet and 0.05 per cent in the iolite. In
addition, the garnet contains a substantial amount of rare-earths, most
notably, yttrium at 548 parts per million. A microprobe analysis of the
gems is currently being done by a major university which will further
define the chemical characteristics of the gemstones.
The company has staked another 37 claim-units contiguous to the Blu Starr
property. A shallow-dipping horizon hosting the iolite has been
intermittently traced for more than two kilometres along the base of the
mountain in a north-south direction. This new area displays the same
prospective geology that in addition to gem quality iolite, also hosts gem
grade garnet, star-sapphire and several other gemstone crystals.
The company's immediate goal is the continuing extraction of the North
Rainbow iolite showing and establishment of a large proven resource of
gemstones. The company is confident that with advanced geological modelling
and detailed prospecting, many additional gemstone occurrences will be
located this season.
KENVILLE MINE UPDATE: Anglo Swiss Resources has recently signed a
confidentiality agreement to allow a major mining company to perform
initial due diligence on the Kenville gold mine, near Nelson, B.C.
Recent work programs included diamond drill programs and approximately
eight kilometres of grid established over the drill sites and surrounding
areas. A 341 sample soil geochemistry program confirmed and extended the
projected surface expression of the newly discovered Eagle vein gold-quartz
vein system. A new zone of gold, silver, copper and molybdenum
mineralization, at least 200 metres wide and a minimum of 800 metres in
length, was discovered in a previously unexplored area of the property.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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