Business
Anglo Swiss Resources Inc. Options Referendum Gold Property
Anglo Swiss Resources Inc. Options Referendum Gold Property
About this update from Gungnir Resources Inc
[{"type":"text","content":"\nAnglo Swiss Resources Inc. Options Referendum Gold Property\n\n\n Nov. 3, 2009 (Filing Services Canada) -- Anglo Swiss Resources Inc. (ASW - TSX Venture, ASWRF - OTCBB, AMO - FWB), Anglo Swiss Resource Inc. has entered into an Option to Purchase Agreement with Thomas Cherry of Nelson, British Columbia wherein Anglo Swiss may acquire a 100% interest in the Referendum Gold property, subject to regulatory approvals.The Referendum Gold Property consists of 19 contiguous staked mineral claims covering 1,381 hectares. Consideration from Anglo Swiss consists of payments totaling $250,000 plus 300,000 Anglo Swiss common shares by the 5th anniversary of the Agreement. The Agreement is subject to a Royalty Interest of a 2.5% net smelter return. Anglo Swiss may at any time purchase the Royalty Interest for $2,000,000. The Referendum Gold Property is situated on the southern borders of Anglo Swiss' 100% owned Kenville Gold Mine Property including the recently optioned (60%) Ron Gold property located 10 kilometres from Nelson, BC. This acquisition greatly enhances Anglo's land position to the south, extending the potential strike length of the regional geological trend along the Silver King Shear Zone. The Silver King Shear is the host to numerous historical gold, copper and silver mines in southeastern British Columbia including Anglo's Kenville Gold Mine. Anglo Swiss' engineering and geological consultants are presently developing a geological computer model of the Kenville Mine property area, which includes structural geology, the mineralized quartz vein systems, aggregate and previously mined underground workings. This model will have the capacity to determine resource grade and tonnage, and can also be used as a mine-planning tool. The addition of the Referendum Gold and the Ron Gold properties' geological data sets will allow Anglo Swiss to expand its geological model to include more regional geology, which will assist in determining mineralized zones of interest throughout the entire 16 square kilometre Kenville Gold Property Group. Edward Nunn, P.Eng., a Qualified Person under National Instrument 43-101, has approved the technical content of this News Release.About Anglo SwissAnglo Swiss Resources Inc. is a mineral exploration company with its current focus on gold, silver and base metals at its Kenville Gold property group located...