Business
Anglo Swiss Resources Inc. Options Ron Gold Property from Klondike Gold Corp.
Anglo Swiss Resources Inc. Options Ron Gold Property from Klondike Gold Corp.
About this update from Gungnir Resources Inc
[{"type":"text","content":"\nAnglo Swiss Resources Inc. Options Ron Gold Property from Klondike Gold Corp.\n\n\n Sep. 24, 2009 (Filing Services Canada) -- Anglo Swiss Resources Inc. (ASW - TSX Venture, ASWRF - OTCBB, AMO - FWB), is pleased to announce, subject to regulatory approval, that it has entered into an Option/Joint Venture Agreement (the \"Agreement\") with Klondike Gold Corp. (\"Klondike\") wherein Anglo will earn up to a 60% interest in the Klondike's Ron Gold property.The Ron Gold Property consists of 37 contiguous staked mineral claims and one crown granted mineral claim covering 1,492 hectares. Consideration from Anglo consists of paying $200,000, issuing 100,000 Anglo shares and incurring up to $650,000 in exploration expenditures by the 4th anniversary of this Agreement. This Agreement is subject to an underlying agreement with an arm's length party that comes with a 2% net smelter return royalty (the \"Original Royalty Interest\"). Anglo may at any time purchase three-quarters (1.5%) of the Original Royalty Interest from the holder of the Original Royalty Interest for $500,000. Klondike also holds an additional royalty equal to 1% of net smelter returns (the \"Second Royalty Interest\"). Anglo may at any time purchase 100% of the Second Royalty Interest from Klondike for $500,000.Upon completion of the 60% earn-in, a joint venture will be formed between the Anglo and Klondike.The Ron Gold claims are situated on the eastern, western and southern borders of Anglo's 100% owned Kenville Gold Mine Property. This acquisition greatly enhances Anglo's land position to the south, which extends the potential strike length of the regional geological trend along the Silver King Shear. The Silver King Shear is the host to numerous historical gold and silver mines in southeastern British Columbia including Anglo's Kenville Gold Mine. Anglo's consultants are presently developing a geological computer model of the Kenville property area, which includes structural geology, the mineralized quartz vein system, and previously mined underground workings. The addition of the Ron Property geological data will allow Anglo Swiss to expand its geological model to include more regional geology, which will assist in determining mineralized zones of interest on both properties. Ted Nunn, P.Eng., a Qualified Person under National Instrument 43-101, has approved the te...