The company came out with a press release on Monday regarding a new discovery on their Kenville Mine Property in BC. I was wondering if anyone can explain the significance of the soil values ( I have pasted the news release). Also of interest is the referral to funding for the project by a MAJOR MINING company. Does anyone know who it is?
Thanks, B.E.Barry
NEW DISCOVERY AT KENVILLE GOLD MINE
VANCOUVER, Nov. 17 /CNW/ - Anglo Swiss Industries Inc.
Montreal Exchange, Canada : ASW
Bulletin Board OTC of the NASD: ASWC
Results from a geochemical survey on the Kenville Mine Property in Nelson, B.C. have been released by Anglo Swiss Industries Inc. (ASW-Montreal and ASWC-NASD Bulletin Board). The project, jointly funded by a major mining company, was managed and performed by Anglo Swiss personnel.
A large, coincident Au, Cu, Ag, Mo (gold,copper,silver, molybdenum) soil anomaly was discovered west of the new gold vein system, previously identified by Teck Corporation in their 1995 exploration program, in a previously unexplored part of the property. The Company believes this new anomaly overlies the projected strike of the Silver King Shear Zone, which hosts many of the most productive mines in the Nelson MIning District.
The composite anomaly is approximately 800 metres in length and 250 metres in width and is open to expansion. Soil values vary up to a maximum of 6,215 ppm (0.62%) copper, 1970 ppb gold, 9.9 ppm silver and 24 ppm molybdenum. A large, partially buried float boulder containing chalcopyrite, bornite and tourmaline in a felsic intrusive rock was located near the centre of the anomaly and gave values of 0.45% copper and 700 ppb gold. Grid expansion to further delineate the anomalous zone is currently underway and various geophysical surveys are in the planning stage.
The soil survey which consisted of 255 samples taken over 6.15km. of grid, came from an area mostly covered with overburden. A 200 metre long gold geochemical anomaly confirms and expands the projected strike of a large gold-quartz vein discovered by Teck Corporation in 1995 (TK95-03/04). Three drill sites have been prepared for a minimum of six diamond drill holes to systematically test this vein system at depth.
For more information on Anglo Swiss Industries Inc.'s other domestic and international projects, please visit the website at www.anglo-swiss.com.
On behalf of the Board,
Len Danard
President & CEO.
Anglo Swiss Industries Inc. (604) 683-0484 or fax (604) 683-7497 or Investor Relations, Comus Capital Group (604) 684-5524 or toll-free 1-888-684-5524 or fax (604) 684-5534 |
