Anglo Swiss Resources Inc. is an exploration company focused on discovering new diamond-bearing kimberlites in the Lac de Gras area of Canada's Northwest Territories ("NWT"). This area contains Canada's main diamond producers, BHP Billiton's - Ekati Diamond Mine and Aber/Rio Tinto's - Diavik Diamond Mine. Anglo Swiss holds over 160,000 acres of exploration claims in the region.
Two of Anglo Swiss' claims (UL 1 & 2 for 5,165 acres) lie within the "Ekati Trend", approximately 40 kilometers north-east of the Ekati Mine. These claims are within 10 kilometers of the diamond-bearing Wombat and Wallaby kimberlites where major exploration and definition programs are planned by Archon Minerals/BHP Billiton.
A recent street wire reports: "Dr. Blusson said the partners would attempt more delineation drilling on the Wombat kimberlite, which he thinks could have the same grade as the Sable pipe, which is about seven kilometers to the southwest and is in the Ekati mine plan. BHP discovered the pipe in 1993 but it has dawdled since then, pursuing kimberlites on the main Ekati property because of its higher ownership of that ground.
Dr. Blusson said the last hole attempted by the partners veered off and missed the kimberlite, leaving them with just the single pierce point into the big pipe, which ranks as the largest kimberlite in Canada's North at well over 10 hectares in size. As a result, the partners will try drilling Wombat with vertical holes from the surface of a lake.
The 2005 test of Wombat produced 91 microdiamonds from about 79 kilograms of kimberlite, including 11 stones that sat on a 0.425-millimetre mesh. The entire haul suggested a microdiamond grade of about 0.85 carat per tonne, although an accurate grade will take a much larger test and larger diamonds.
An 1,100-tonne bulk sample of Sable yielded a grade of nearly one carat per tonne and a diamond value of $64 (U.S.) per carat. The diamond value is likely a bit higher today, and Ekati is mining rock worth just $60 (U.S.) per carat from its Fox pipe. With Ekati gradually running low on kimberlite, BHP would likely jump at the chance to add large amounts of rock with comparable values into the latter stages of its mine plan."
If these projects advance to production the road access to the Ekati plant will extend to within 8 kilometers of Anglo Swiss Resources' claims. Exploration for 2007 on these claims will include an airborne magnetic and electromagnetic survey, field work and drilling.
In light of the close proximity to producing diamond mines, the presence of numerous diamondiferous kimberlites and kimberlite indicator minerals, management is of the opinion that the UL 1 & 2 claims are highly prospective for the further discovery of diamonds.
The Company controls 4 distinct properties of merit as it works towards establishing itself towards the corporate goal of discovering a diamond mine within the Lac de Gras region:
- Anglo Swiss Resources' most advanced property is the Fry Inlet Diamond Property (60/40 joint venture with NSV.V) located approximately 25 kilometers north of BHP Billiton's "Ekati Diamond Mine property" and Aber/Rio Tinto's "Diavik Diamond Mine property", Canada's first two diamond mines. This claim group totals 91,856 acres and hosts the LI 201 significantly diamondiferous kimberlite.
- The Falcon Bay Diamond Property consists of a 100% interest in the MS 1-25 mineral claims covering approximately 52,459 acres in the diamond producing area of Lac de Gras, NWT approximately 25 kilometers south of the Diavik property.
- Anglo Swiss also owns a 100% interest in the Fishing Lake Diamond Property, located some 110 kilometers north of Yellowknife, NWT, toward the western margin of the Slave Craton. The Fishing Lake property covers 8,467 acres.
On behalf of the Board,
Len Danard, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Anglo Swiss Resources Inc.
Len Danard
President & CEO
(604) 683-0484
(604) 683-7497 (FAX)
Email: info@amglo-swiss.com
Website: http://www.anglo-swiss.com
Source: Anglo Swiss Resources Inc.
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