Early results boost Anglo Swiss

Anglo Swiss Resources (ASW-V, ASWRF-O) reached a new 52-week high with its release of early results from its Kenville Mine project in B.C.

Results come from just the first two holes of its planned 1,500 metre Phase 1 drill program.

While assay results from the core are pending the Vancouver-based company says Hole DDH AK07-01 hit sulphide mineralization through to roughly 215 metres.

It described mineralization as porphyry style disseminated copper from the top of drill hole to 25 metres. A second larger zone of disseminated chalcopyrite mineralization was hit upon from the 145 meter mark to the 215 metre mark.

Hole AK07-02 which was set up at the same collar location as AK07-01 but was drilled westward instead of eastward hit sporadic zones of copper down to 58.6 metres.

Anglo Swiss says the drill program is testing areas of variable IP chargeability, resistivity and geochemical anomalies over a surveyed grid that is 1,100 metres by 700 metres.

Kenville site is 10 km west of Nelson in B.C. in the Kootenay region.

Anglo Swiss acquired the property in 1992. The property was first staked in 1888 and was one of the first vein deposits discovered in the Nelson area. From 1890 to 1954 it produced 2 tonnes of gold and 861 kilograms of silver from 183,138 tonnes of ore.

Beyond its gold property in B.C. the company has prospective diamond ground in the North West Territories.

In Toronto on Nov. 8 the companys shares were up 25% or 10 to 50 on roughly 2.4 million shares traded. The company has roughly 87 million shares outstanding and its share price had traded between 5 and 44 for the past 52 weeks.