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Gold/Mining/Energy : Anglo-Swiss (ASW-Montreal) Sapphire Discovery -- Ignore unavailable to you. Want to Upgrade?


To: paulc who wrote (22)2/2/1999 9:58:00 AM
From: paulc  Respond to of 68
 
December 9, 1998

Initial Iolite Gemstone Sampling Yields "Impressive"

Anglo Swiss Resources Inc.'s exploration manager, Mr. James Laird is pleased to report the initial results of a sampling program testing two gem quality iolite-bearing zones on the Blu Starr property, located in the Slocan Valley, B.C. The two zones outcrop approximately 1 kilometre apart on a correlative litho-stratigraphic horizon, and access to the zones is excellent. Float occurrences of similar material have been traced for an additional kilometre along strike. Iolite, the gem variety of the mineral known as cordierite, is a hard and durable gemstone with a violet-blue colour, similar in appearance to the gemstone tanzanite. Iolite from the Blu Starr property displays a remarkable property known as trichroism, meaning that if a given gemstone is viewed from three different directions, it exhibits three different colours, namely blue-violet, honey yellow and pale blue-grey. Cabochon-cut iolite from the property displays a noticeable star effect.

The initial iolite discovery, known as the Rainbow North Zone, outcrops at the base of a small bluff. The mineralized zone has been hand-trenched and is presently exposed for 20 metres along strike, 5 metres in thickness, and 5 metres in profile depth. The zone has a shallow dip to the east and is open along strike and to depth. The surrounding wallrock is composed of well-layered feldspar-quartz-biotite-hornblende gneiss with scattered garnet porphyroblasts. The iolite hostrock is a distinctive, dark-green fibrous metamorphic rock composed of biotite and fuchsite mica, tremolite-actinolite, iolite, quartz, feldspar, megacrystic almandine-pyrope garnets, and amphibole. Iolite content varies, averaging about 5 percent of the observed rock surface, which is highly altered due to weathering. Additional minerals noted include amethyst, clear, rose and star quartz; schorl and dravite tourmaline crystals up to 10 cm in diameter, rutile, beryl, spinel, ilmenite, muscovite, chlorite and others. The amethyst and clear quartz crystals commonly display positive and negative scepters and complex twinning patterns.

The iolite occurs as large crystals in quartz vein stockworks and pegmatites, and as scattered masses throughout the hostrock. The iolite crystals weather to irregular masses of translucent violet gem material on the outcrop surface. Beneath the weathered outcrop, the tabular iolite crystals display a greenish-brown retrograde alteration known as pinite, which is a fine-grained mixture of sericite mica and chlorite. The deepest samples obtained from the outcrop show euhedral dark violet crystals with minimal alteration. The largest single crystals exceed 1000 carats in weight, but much larger crystalline masses have resulted from complex twinning and intergrowths. A representative 2 metre by 2-metre panel sample averaging about 10 centimetres in depth was taken by hammer and moil from the south end of the mineralized zone. The total sample weight was approximately one tonne, from which 25 kilograms of very high-grade iolite crystal ore was extracted.

The second iolite zone, known as Rainbow South Zone, is also found outcropping at the base of a low bluff, and is presently exposed for 10 metres along strike, 2 metres in thickness, and 2 metres in profile depth. This zone also has a shallow dip and is open to strike and to depth. General deposit morphology, mineralogy and alteration are similar to the Rainbow North Zone. Large, euhedral iolite crystals form in quartz veins and as scattered masses and crystals throughout the hostrock. A representative 2 metre by 2 metre panel sample averaging about 10 centimeters in depth was taken by hammer and moil was taken from the center of the zone. The sample weight was approximately one tonne, which yielded about 25 kilograms of high-grade iolite crystal ore.

The two samples taken together contain more than 100,000 rough carats of iolite crystal. The samples are currently being processed at the company's gem lab in Nelson, B.C. to remove any waste rock and to block out gem material for cutting. Final sample results are expected before year-end.

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To: paulc who wrote (22)2/2/1999 10:10:00 AM
From: paulc  Respond to of 68
 
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January 15, 1999

Brilliant Future for B.C. Gemstones

At the request of the Montreal Exchange, Anglo Swiss Resources Inc. (ASW-M, ASWC-OTCBB) has been asked to comment on the recent activity of the Company's shares on both stock exchanges.

The Company believes that the recent activity is due to the developments made on its gemstone property located in southeastern British Columbia. Anglo Swiss personnel have extracted over 100,000 carats of rough iolite from two one-tonne test samples (see news release Dec. 9, 1998) taken from outcrops one kilometer apart. The rough iolite crystal is undergoing final grading and blocking out for gem cutting, and the Company has shipped parcels of gem-grade rough to several cutting facilities to evaluate cut designs.

On Dec 14, 1998, the new iolite zones were examined by gemmologist/geologist Mr. Dave Barclay, who states in a letter to the company following the tour; "The two iolite zones that I was shown are most accurately described in your report of Dec. 9th released as a company news release on that date. The strata of iolite rich host have been very reasonably estimated as to size (width, length of strike, and a minimal depth)."

Additional shipments of large, flawless garnet rough have been sent for cutting in Sri Lanka, following an evaluation of the cutters and the cut designs. The company is currently building an inventory of finished gemstones prior to offering product for sale.

The Company has completed a private placement on December 31, 1998 of 200,000 Units at $0.50 for proceeds of $100,000. Each Unit consisted of one flow-through share, one common share and one share purchase warrant for one-year at $0.30.

Anglo Swiss will be displaying the new gemstones at the Vancouver Investment Conference Jan. 24 and 25, 1999 held at the Hotel Vancouver and will also attend the Tucson Gem Show in early February. The company has also recently been the focus of articles on gemstone exploration in BC by the Mining Review Magazine of the BC and Yukon Chamber of Mines, numerous recent articles by the Chamber of Mines of Eastern BC, an upcoming article in the National Jewelers Magazine of New York, and will soon be featured in a new BC Rock and Gem magazine. The company's website www.anglo-swiss.com is currently being updated and these articles will soon be available for viewing, along with photos of the gemstone deposits and a geological update.



To: paulc who wrote (22)2/2/1999 10:12:00 AM
From: paulc  Read Replies (1) | Respond to of 68
 
February 20, 1997

332,820 OUNCES PLACER GOLD

Anglo Swiss is pleased to release the results of a report dated February 19, 1997 compiled by Geoffrey Garcia, P.Geo., on his field evaluation of Anglo Swiss' Catamayo River Gold Property in Southern Ecuador. Anglo Swiss owns 100% of this gold property, through its wholly owned subsidiary, Compania Minera "Canadamin" S.A.

Estimated ore reserves along the two concessions known as the Catamayoro and Trapichillo have been calculated to contain 9.24 million cubic metres of gravel containing 332,820 ounces of unrefined placer gold. Using a .866 fineness factor, this calculates to approximately 288,000 ounces of pure gold. From the above figures, the estimated grade of the deposit is around US $10.90 per cubic meter. Initial cash-flow from this property is projected to be US $10,000 per day with costs estimated at 25% or $2500, leaving a net positive cash flow of US $7,500 per day.

Anglo Swiss has purchased the necessary excavation equipment and is currently constructing a 100 cubic metre per hour processing plant which is scheduled to begin production upon completion. Anglo Swiss is currently sourcing additional production facilities to further increase the scope of the project in the near future. Exploration on the 3900 hectare "Rio Playas" in situ gold property, located near the placer operation, is forthcoming.

In Canada, Anglo Swiss is currently developing the multi-million carat Blu Starr Sapphire deposit near Slocan, B.C. and is planning to expand the gold resource at the historic Kenville Gold Mine near Nelson, B.C., through exploration of a newly discovered free gold-bearing vein system.

Anglo Swiss is aggressively negotiating to add further gold/gemstone properties to its strategic land position in Canada and South America.

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