| Anglo Swiss Resources (ASW.v) or (ASWRF) |
| Vital Statistics Share price: $0.21 CDN Shares OS: 101,637,837 - June 30/08 Warrants: 13,041,512 @ $0.43 - June 30/08 Options: 12,501,250 @ $0.12 - June 30/08 Cash and cash equivalents: $1,989,737 Burn rate: N/A |
Silver Bull Report is initiating coverage on ASW.v
with a BUY rating.
James Junkin and Leonard Wall visited the Kenville Gold
Mine property on September 8-9/08
Anglo Swiss curently has a 10,000 meter drill program in
progress. We were able to inspect a lot of drill core, and
we are very intrigued as to what they will yeild. Mine
rehabilitation is underway. Mill equipment is arriving at the
property, while workers are preparing for installation.
In a market where inverstors are more concerned about
the survival of junior mining companies than value of their
assets, ASW.v becomes particularly interesting. ASW.v will
produce a line of aggregates for the local concrete
industry. Not only that, but engineers who have been to
the property advise management that they have a couple
of unique sand and clay types present in the alluvial till
overburden of the property. Apparantly ASW.v has a sand
type which is suitable for use by the PGA. Also, a clay type
which is used by the oil & gas industry for setting pipelines.
This clay particulate is dried into blocks in the shape of the
pipeline. As the pipline is set in place under the surface of
the ground, the dry blocks are set to coddle the pipe.
with a BUY rating.
James Junkin and Leonard Wall visited the Kenville Gold
Mine property on September 8-9/08
Anglo Swiss curently has a 10,000 meter drill program in
progress. We were able to inspect a lot of drill core, and
we are very intrigued as to what they will yeild. Mine
rehabilitation is underway. Mill equipment is arriving at the
property, while workers are preparing for installation.
In a market where inverstors are more concerned about
the survival of junior mining companies than value of their
assets, ASW.v becomes particularly interesting. ASW.v will
produce a line of aggregates for the local concrete
industry. Not only that, but engineers who have been to
the property advise management that they have a couple
of unique sand and clay types present in the alluvial till
overburden of the property. Apparantly ASW.v has a sand
type which is suitable for use by the PGA. Also, a clay type
which is used by the oil & gas industry for setting pipelines.
This clay particulate is dried into blocks in the shape of the
pipeline. As the pipline is set in place under the surface of
the ground, the dry blocks are set to coddle the pipe.
Anglo Swiss Management is experienced, qualified, and well prepared for their current undertaking. Having spent
two days with Len Danard and Leroy Wolbaum, we are confident in their abilities to proceed with the current mine
development plan.
Leonard Danard, President & CEO
Mr. Danard is the President & CEO of the Company, a position he has held since December 1992. He was
previously involved with private companies, where he held various senior management positions, having spent the
last 20 years in the resource sector. Mr. Danard is 60 years old & a resident of Vancouver, British Columbia.
Christopher C. Robbins, Vice President
Mr. Robbins is a Vice President of the Company, & has been a director since 1994. He has more than 20 years
experience in public relations, corporate governance & financing, both in public & private sectors. Prior to Anglo
Swiss, Mr. Robbins was a consultant to a telecommunications firm, which also went public. Mr. Robbins is 49 years
old & a resident of Vancouver, British Columbia.
Edward J. Nunn, Director
Mr. Nunn joined the board of directors in March 2008. He is a Registered Professional Engineer in British Columbia
and has been associated with the mining industry for 42 years. Mr. Nunn has spent most of the 42 years primarily
working in project engineering and management for domestic and international mine operating companies. His metal
mining experience has been in gold, copper, molybdenum, lead and zinc while working for Cominco, Lornex Mining
Corp., Echo Bay Mines and Granduc Operating Company.
Leroy Wolbaum, Director
Mr. Wolbaum has been a director of the Company since 1993. He currently resides in Nelson, British Columbia, & is
the Company’s liaison for both the Kenville Gold Mine & Blu Starr gemstone projects. Mr. Wolbaum has extensive
experience, having served on a number of boards of publicly listed companies. Mr. Wolbaum is 64 years old.
Mr. Greg Pendura, Director
Mr. Greg Pendura, M.Ed., has joined the company’s Board of Directors, effective March 12, 2007. Mr. Pendura has
more than 35 years of experience in founding, financing and advising emerging private and public companies. Mr.
Pendura has spent the last 12 years in the public sector with Resin Systems Inc. An original founder of the company
he recently retired as President, CEO and Chairman of the Board. During his tenure with Resin Systems Inc., he was
instrumental in the company achieving a market capitalization of over $200 million as well as raising in excess of
$100 million during its formative years.
Property
The Kenville Mine Property consists of 15 Crown granted (446.99 acres) and 10 staked mineral claims (617.8 acres)
and 91.78 acres of deeded fee simple surface property, all held directly by Anglo Swiss Resources. It is located near
Nelson, British Columbia at an elevation of between 600 and 1,200 metres. It is easily accessed by the Kenville Mine
Road, which connects directly to Provincial Highway 3A. It is approximately 35 kilometres east of the Castlegar Airport
and 65 kilometres north of Cominco Ltd.’s smelter in Trail, British Columbia. The map shows the location of the
Kenville Mine Property. The first recorded mineral production in British Columbia history was in 1884, from the
nearby Silver King property.
History Prior to Anglo Swiss
The Kenville Mine Property has a long history as a gold producer, and is notable as British Columbia’s first producing
hardrock gold mine. It was discovered prior to the 1880s and originally known as the Granite-Poorman Mine.
In 1946 Kenville Gold Mines Ltd., a company controlled by Quebec Gold Corporation and Noranda Mines Ltd., built a
125 ton per day cyanide mill and commenced significant exploration, development and mining operations.
Operations ceased in 1949, save for the continued milling of ore by individual lessors until 1954.
Small amounts of high grade ore from the Kenville Mine Property were shipped in 1960 and 1961 directly to
Cominco Ltd.’s smelter located in Trail, BC.
Noranda Mines Ltd. subsequently removed all usable equipment from the Kenville Mine Property in 1962.
In 1969, Algoma Industries & Resources Ltd. acquired the Kenville Mine Property, reopened the 257 level and
commenced
dewatering activities. After Algoma rebuilt the primary crushing mill, mining activities were recommenced for a period,
and eventually ceased in 1986.
In 1987, Coral Industries Ltd. acted as a trustee for a partnership
of three individuals that purchased the Kenville Mine Property from Algoma and exercised its rights to direct control
of operations late in 1989. Coral invested approximately $750,000 in anticipation of recommencing mining
operations.
Small scale mining production was commenced for the purposes of testing milling operations. The tests indicated
that the mill was not properly designed but that the ore was amenable to the recovery of precious metals by a
flotation process. A bulk sample of 180 short tons was shipped in the summer of 1991 by rail to Asarco incorporated
in East Helena, Montana. The bulk sample graded 0.46 oz/ton of gold.
History Since Anglo Swiss Acquisition
Since acquiring ownership of the Kenville Mine Property, in 1992, Anglo Swiss engaged in a small amount of test
production for evaluating flotation results at a custom milling operation of Bow Mines Ltd. located near Greenwood,
British Columbia. Testing confirmed that ore from the Kenville Mine Property is amenable to flotation, with a recovery
rate of greater than 85%.
On February 10, 1995, Anglo Swiss entered into an Option Joint Venture Agreement with Teck Corp. The
agreement provided Teck Corp. with the right to earn a 70% undivided interest to the Kenville Mine Property.
On July 13, 1995, Teck Corp. commenced a diamond drilling program, drilling a total of five holes with a total depth
of 1,110 metres, along approximately 475 metres of strike length.
The 1995 drill program successfully located several zones of copper, silver, gold and molybdenum mineralization
and a significant new gold quartz vein. Economic grades and favourable geology were found in all five drill holes,
with one hole containing three separate mineralized zones of economic interest.
However, because drilling was along or close to foliation planes, Teck Corp. was prevented from determining the
true width of the mineralized shear zones. In the fall of 1995, after optioning several adjoining properties, Teck Corp.
conducted approximately 3.2 kilometres of surveyed grid, followed by an
induced polarization survey.
After exercising the second year option on February 10, 1996, Teck Corp. conducted a magnetometer survey.
These two programs identified a large, coincident Au, Cu, Ag, Mo (gold,copper, silver, molybdenum) soil anomaly in
a previously unexplored part of the property. This new anomaly, measuring
approximately 250 metres by 1,000 metres (open to expansion) along a NW/SE trend, was located west of the new
gold vein system, previously identified by Teck Corporation in their 1995 exploration program.
Soil values varied up to a maximum of 6,215 ppm (0.62%) copper, 1970 ppb gold, 9.9 ppm silver and 24 ppm
molybdenum.
A large, partially buried float boulder containing chalcopyrite, bornite and tourmaline in a felsic intrusive rock was
located near the centre of the anomaly and gave values of 0.45% copper and 700 ppb gold. The Company believes
this new anomaly overlies the projected strike of the Silver King Shear Zone, which hosts many of the most
productive mines in the Nelson Mining District.
Teck Corp. also informed Anglo Swiss of a new chalcopyrite
outcrop occurrence on the southern part of the Kenville Mine Property. This occurrence lies within the strong
coincidental induced polarization chargeability and magnetic high zone. The 1996 Teck Corp. drill program
consisted of seven drill holes, totalling 1317.5 metres, drilled in two separate areas along approximately 700 metres
of strike length, on the west side of Eagle Creek.
On January 22, 1997, in spite of successful results (see box), Teck Corp. informed Anglo Swiss of its intention not to
continue with the third year of its option. At this time, just prior to the exposure of the Bre-X fraud, any property with
a potential smaller than 30 million ounces fell below everyone’s radar screen.
Anglo Swiss continued to investigate the Eagle Mineralization Vein through 1998 with a geochemical soil survey
designed to assist in targeting drill sites. A total of 341 soil samples were taken at 25-meter intervals on 8375 meters
of grid lines. The soil survey showed a high-contrast gold anomaly stretching more than 500 meters to the south
along the projected strike of the Eagle Vein. Prospecting the anomalous zone located quartz vein float that assayed
0.7 oz/t gold, and several showings
containing copper mineralization.
Geology of Kenville Gold Mine Property
The Kenville Mine Property is located at the north and west end of a Mesozoic Island Arc represented by a
sequence of Lower Jurassic Rossland Group augite porphyry flows, pyroclastics and crystal tuffs of andestic and
shoshonitic composition.
This sequence is intruded by coeval, usually stratabound, bodies of similar composition, including a stock referred
to by the Geological Survey of Canada as of “pseudodioritic” composition, the Silver
King Porphyries and by granodiorite of the Nelson Batholith. The Kenville Mine Property is underlain by one such
pseudodioritic stock showing at least two intrusive phases.
Regionally, shear zones up to 100 metres in width have often localized hydrothermal alteration and sulphide
mineralization. A major zone composed of multiple parallel shears known as the “Silver King Shear Zone” is
projected to pass through the Kenville Mine Property. This zone can be identified in several properties
covering the known exposure of the Island Arc, for a distance of more than 100 kilometres. Intrusive rocks of
dioritic to granodioritic composition showing varying degrees of hydrothermal alteration, shearing and mineralization
underlie the Kenville Mine Property. Goldquartz veins systems often form in extensional structures related to the
regional shear zones.
Mineralization
The principal mineralized veins found on the Kenville Mine Property include, from east to west, the Beelzebub,
Granite, Greenhorn, Poorman and Hardscrabble, across a 500+ metre width. This zone is extended further west by
the Venango, Dundee and Paradise system of veins. The mineralized veins found in the Kenville Mine itself are
similar in character and trend at an azimuth of 330 to 350 degrees. The dip of the vein structures averages 45E to
the north east but varies from 20E to 75E and ranges in width from a few centimetres to about two metres. Although
no dip is more favoured than another by the average grade ores or widths of quartz, rich pockets with visible gold
are reported to occur where the dip of\ the structures change. Pre- dominant associated minerals are pyrite,
chalcopyrite, marcasite and minor amounts of galena, scheelite, sphalerite and visible gold. Commonly, the higher
grade gold is diagnosed by the presence of galena and/or sphalerite and/or white pyrite.
The tungsten content of quartz veins at the Venango and Shenango workings is higher than that present at the
Kenville Mine Property. Scheelite has been observed in the 217 Flat vein, the Upper 217 (also referred to as the
“Jewellery Box” area), the Yule vein and, to a lesser extent, in the Hardscrabble vein. Scheelite is generally coarse
and occurs as distinct veins within the quartz, usually independent of the sulphides. It appears that the scheelite
content increases towards the south. Quartz is the main gangue mineral but pink feldspar, calcite and tourmaline
are often present.
The veins vary in width, attitude and in the character of the quartz. The main veins are, for the most part,freewalled
accompanied by a gouge selvage, while the flatter ore shoots are frozen to the walls. The veins are in narrow
extensional fault zones with the hanging walls of each vein moving relatively upward and southward an unknown
distance. From available data, there also appears to be present on the Kenville Mine Property, quartz stockwork
zones of significant widths (15 metres) with economically significant values of copper and gold.
Permitting
The Company has obtained all permits, approvals and bonding required to enable it to carry on exploration and
milling activities at the Kenville Mine Property.
two days with Len Danard and Leroy Wolbaum, we are confident in their abilities to proceed with the current mine
development plan.
Leonard Danard, President & CEO
Mr. Danard is the President & CEO of the Company, a position he has held since December 1992. He was
previously involved with private companies, where he held various senior management positions, having spent the
last 20 years in the resource sector. Mr. Danard is 60 years old & a resident of Vancouver, British Columbia.
Christopher C. Robbins, Vice President
Mr. Robbins is a Vice President of the Company, & has been a director since 1994. He has more than 20 years
experience in public relations, corporate governance & financing, both in public & private sectors. Prior to Anglo
Swiss, Mr. Robbins was a consultant to a telecommunications firm, which also went public. Mr. Robbins is 49 years
old & a resident of Vancouver, British Columbia.
Edward J. Nunn, Director
Mr. Nunn joined the board of directors in March 2008. He is a Registered Professional Engineer in British Columbia
and has been associated with the mining industry for 42 years. Mr. Nunn has spent most of the 42 years primarily
working in project engineering and management for domestic and international mine operating companies. His metal
mining experience has been in gold, copper, molybdenum, lead and zinc while working for Cominco, Lornex Mining
Corp., Echo Bay Mines and Granduc Operating Company.
Leroy Wolbaum, Director
Mr. Wolbaum has been a director of the Company since 1993. He currently resides in Nelson, British Columbia, & is
the Company’s liaison for both the Kenville Gold Mine & Blu Starr gemstone projects. Mr. Wolbaum has extensive
experience, having served on a number of boards of publicly listed companies. Mr. Wolbaum is 64 years old.
Mr. Greg Pendura, Director
Mr. Greg Pendura, M.Ed., has joined the company’s Board of Directors, effective March 12, 2007. Mr. Pendura has
more than 35 years of experience in founding, financing and advising emerging private and public companies. Mr.
Pendura has spent the last 12 years in the public sector with Resin Systems Inc. An original founder of the company
he recently retired as President, CEO and Chairman of the Board. During his tenure with Resin Systems Inc., he was
instrumental in the company achieving a market capitalization of over $200 million as well as raising in excess of
$100 million during its formative years.
Property
The Kenville Mine Property consists of 15 Crown granted (446.99 acres) and 10 staked mineral claims (617.8 acres)
and 91.78 acres of deeded fee simple surface property, all held directly by Anglo Swiss Resources. It is located near
Nelson, British Columbia at an elevation of between 600 and 1,200 metres. It is easily accessed by the Kenville Mine
Road, which connects directly to Provincial Highway 3A. It is approximately 35 kilometres east of the Castlegar Airport
and 65 kilometres north of Cominco Ltd.’s smelter in Trail, British Columbia. The map shows the location of the
Kenville Mine Property. The first recorded mineral production in British Columbia history was in 1884, from the
nearby Silver King property.
History Prior to Anglo Swiss
The Kenville Mine Property has a long history as a gold producer, and is notable as British Columbia’s first producing
hardrock gold mine. It was discovered prior to the 1880s and originally known as the Granite-Poorman Mine.
In 1946 Kenville Gold Mines Ltd., a company controlled by Quebec Gold Corporation and Noranda Mines Ltd., built a
125 ton per day cyanide mill and commenced significant exploration, development and mining operations.
Operations ceased in 1949, save for the continued milling of ore by individual lessors until 1954.
Small amounts of high grade ore from the Kenville Mine Property were shipped in 1960 and 1961 directly to
Cominco Ltd.’s smelter located in Trail, BC.
Noranda Mines Ltd. subsequently removed all usable equipment from the Kenville Mine Property in 1962.
In 1969, Algoma Industries & Resources Ltd. acquired the Kenville Mine Property, reopened the 257 level and
commenced
dewatering activities. After Algoma rebuilt the primary crushing mill, mining activities were recommenced for a period,
and eventually ceased in 1986.
In 1987, Coral Industries Ltd. acted as a trustee for a partnership
of three individuals that purchased the Kenville Mine Property from Algoma and exercised its rights to direct control
of operations late in 1989. Coral invested approximately $750,000 in anticipation of recommencing mining
operations.
Small scale mining production was commenced for the purposes of testing milling operations. The tests indicated
that the mill was not properly designed but that the ore was amenable to the recovery of precious metals by a
flotation process. A bulk sample of 180 short tons was shipped in the summer of 1991 by rail to Asarco incorporated
in East Helena, Montana. The bulk sample graded 0.46 oz/ton of gold.
History Since Anglo Swiss Acquisition
Since acquiring ownership of the Kenville Mine Property, in 1992, Anglo Swiss engaged in a small amount of test
production for evaluating flotation results at a custom milling operation of Bow Mines Ltd. located near Greenwood,
British Columbia. Testing confirmed that ore from the Kenville Mine Property is amenable to flotation, with a recovery
rate of greater than 85%.
On February 10, 1995, Anglo Swiss entered into an Option Joint Venture Agreement with Teck Corp. The
agreement provided Teck Corp. with the right to earn a 70% undivided interest to the Kenville Mine Property.
On July 13, 1995, Teck Corp. commenced a diamond drilling program, drilling a total of five holes with a total depth
of 1,110 metres, along approximately 475 metres of strike length.
The 1995 drill program successfully located several zones of copper, silver, gold and molybdenum mineralization
and a significant new gold quartz vein. Economic grades and favourable geology were found in all five drill holes,
with one hole containing three separate mineralized zones of economic interest.
However, because drilling was along or close to foliation planes, Teck Corp. was prevented from determining the
true width of the mineralized shear zones. In the fall of 1995, after optioning several adjoining properties, Teck Corp.
conducted approximately 3.2 kilometres of surveyed grid, followed by an
induced polarization survey.
After exercising the second year option on February 10, 1996, Teck Corp. conducted a magnetometer survey.
These two programs identified a large, coincident Au, Cu, Ag, Mo (gold,copper, silver, molybdenum) soil anomaly in
a previously unexplored part of the property. This new anomaly, measuring
approximately 250 metres by 1,000 metres (open to expansion) along a NW/SE trend, was located west of the new
gold vein system, previously identified by Teck Corporation in their 1995 exploration program.
Soil values varied up to a maximum of 6,215 ppm (0.62%) copper, 1970 ppb gold, 9.9 ppm silver and 24 ppm
molybdenum.
A large, partially buried float boulder containing chalcopyrite, bornite and tourmaline in a felsic intrusive rock was
located near the centre of the anomaly and gave values of 0.45% copper and 700 ppb gold. The Company believes
this new anomaly overlies the projected strike of the Silver King Shear Zone, which hosts many of the most
productive mines in the Nelson Mining District.
Teck Corp. also informed Anglo Swiss of a new chalcopyrite
outcrop occurrence on the southern part of the Kenville Mine Property. This occurrence lies within the strong
coincidental induced polarization chargeability and magnetic high zone. The 1996 Teck Corp. drill program
consisted of seven drill holes, totalling 1317.5 metres, drilled in two separate areas along approximately 700 metres
of strike length, on the west side of Eagle Creek.
On January 22, 1997, in spite of successful results (see box), Teck Corp. informed Anglo Swiss of its intention not to
continue with the third year of its option. At this time, just prior to the exposure of the Bre-X fraud, any property with
a potential smaller than 30 million ounces fell below everyone’s radar screen.
Anglo Swiss continued to investigate the Eagle Mineralization Vein through 1998 with a geochemical soil survey
designed to assist in targeting drill sites. A total of 341 soil samples were taken at 25-meter intervals on 8375 meters
of grid lines. The soil survey showed a high-contrast gold anomaly stretching more than 500 meters to the south
along the projected strike of the Eagle Vein. Prospecting the anomalous zone located quartz vein float that assayed
0.7 oz/t gold, and several showings
containing copper mineralization.
Geology of Kenville Gold Mine Property
The Kenville Mine Property is located at the north and west end of a Mesozoic Island Arc represented by a
sequence of Lower Jurassic Rossland Group augite porphyry flows, pyroclastics and crystal tuffs of andestic and
shoshonitic composition.
This sequence is intruded by coeval, usually stratabound, bodies of similar composition, including a stock referred
to by the Geological Survey of Canada as of “pseudodioritic” composition, the Silver
King Porphyries and by granodiorite of the Nelson Batholith. The Kenville Mine Property is underlain by one such
pseudodioritic stock showing at least two intrusive phases.
Regionally, shear zones up to 100 metres in width have often localized hydrothermal alteration and sulphide
mineralization. A major zone composed of multiple parallel shears known as the “Silver King Shear Zone” is
projected to pass through the Kenville Mine Property. This zone can be identified in several properties
covering the known exposure of the Island Arc, for a distance of more than 100 kilometres. Intrusive rocks of
dioritic to granodioritic composition showing varying degrees of hydrothermal alteration, shearing and mineralization
underlie the Kenville Mine Property. Goldquartz veins systems often form in extensional structures related to the
regional shear zones.
Mineralization
The principal mineralized veins found on the Kenville Mine Property include, from east to west, the Beelzebub,
Granite, Greenhorn, Poorman and Hardscrabble, across a 500+ metre width. This zone is extended further west by
the Venango, Dundee and Paradise system of veins. The mineralized veins found in the Kenville Mine itself are
similar in character and trend at an azimuth of 330 to 350 degrees. The dip of the vein structures averages 45E to
the north east but varies from 20E to 75E and ranges in width from a few centimetres to about two metres. Although
no dip is more favoured than another by the average grade ores or widths of quartz, rich pockets with visible gold
are reported to occur where the dip of\ the structures change. Pre- dominant associated minerals are pyrite,
chalcopyrite, marcasite and minor amounts of galena, scheelite, sphalerite and visible gold. Commonly, the higher
grade gold is diagnosed by the presence of galena and/or sphalerite and/or white pyrite.
The tungsten content of quartz veins at the Venango and Shenango workings is higher than that present at the
Kenville Mine Property. Scheelite has been observed in the 217 Flat vein, the Upper 217 (also referred to as the
“Jewellery Box” area), the Yule vein and, to a lesser extent, in the Hardscrabble vein. Scheelite is generally coarse
and occurs as distinct veins within the quartz, usually independent of the sulphides. It appears that the scheelite
content increases towards the south. Quartz is the main gangue mineral but pink feldspar, calcite and tourmaline
are often present.
The veins vary in width, attitude and in the character of the quartz. The main veins are, for the most part,freewalled
accompanied by a gouge selvage, while the flatter ore shoots are frozen to the walls. The veins are in narrow
extensional fault zones with the hanging walls of each vein moving relatively upward and southward an unknown
distance. From available data, there also appears to be present on the Kenville Mine Property, quartz stockwork
zones of significant widths (15 metres) with economically significant values of copper and gold.
Permitting
The Company has obtained all permits, approvals and bonding required to enable it to carry on exploration and
milling activities at the Kenville Mine Property.
| Although the property had not been in production for years, figures released in 1990 ranked the property as the 26th largest producer in British Columbia history. British Columbia Government records indicate that between 1890 and 1954, the Kenville Mine produced 2,024,306 grams of gold (2 metric tonnes) from 181,120 tonnes of ore. Although copper, lead, zinc and tungsten were known to be present, no record of significant production of these metals is found. The historical silver to gold ratio for the mine was 0.43. |
| The 1996 diamond drill program was successful in locating numerous zones of copper, gold and molybdenum mineralization across a tested strike length of approximately 700 metres. The Kenville property remains a viable target for porphyry style mineralization, containing favourable host rocks, alteration and mineralogy. – Teck Corp. report January 23, 1997 |
| A significant zone of copper mineralization with accessory silver and molybdenum was encountered in drill hole TECK-95-03, within carbonate-potassic altered and foliated diorites. The most significant zone consisted of 1.03% copper from 248.9 – 257.6 metres. A new west dipping quartz vein was intersected in drill holes TECK- 95-04 and TECK-95-05 with a high grade section in hole 95-05 assaying 82.15 g/t gold across 0.25 metres. – Teck Corp. report January 15, 1996 |
Water is then used to disolve the blocks, which in turn protect the pipes from shifting dirt and rock which surround
them. Anyhow, we are not buying ASW.v for their alluvial bounty, but what is interesting, is that ASW.v will use waste
rock from their crushing plant to realize a revenue stream that may well pay for the production costs of their gold.
This of course provides them with stability in the uncertain markets as of late. This is obvious when looking at their
chart. While many near-term production situations have been decimated, ASW.v has held up remarkably well. CEO
Len Danard would tell you this is due to 13% insider ownership, and to the strong shareholder base they have. I
agree with that, but not needing to rely entirely on short-term precious metals price also helps, I'm sure.
We are buying ASW.v for potential exploration upside, and of course, the near-term gold production from their
existing mine, which holds a tremendous amount of historical resources. I know this to be the case because we have
been undergound and seen many loaded ore shoots. The numerous ore dumps also allow for immediate, low cost
feed for their mill.
What is most intriguing to us is the current drill program. ASW.v is drilling, and proving extended mineralization on a
north heading to the existing Kenville Gold Nime. It is important to consider that at $35 per ounce/gold, the mine was
operating profitably, and was only shut down due to the demand for miners during world war II. Miners were
expected to join the ranks of those extracting copper, nickel and lead etc. for the desperately need war machine of
the time.
With all the work ASW.v has done to rehabilitate mine workings and surface infrastructure, along with the new
processing equipment on site, we see little in the way of hindrances which could derail their near-term gold
production goals. Add on top of this the demand for the waste products they will generate in the process, with a
10,000 meter drill program underway, we see ASW.v as an excellent risk/reward investment. While the pay-off may
not be immediate, we believe there is a good amount of downside protection in place, which will allow us to build a
growing position in the company, which the size of will be determined with upcoming assay results.
We would like to thank the ASW organization for hosting our visit, and hope we will be invited back for the
commisioning of the mill and recovery circut.
More analysis on ASW.v to come in the future.
them. Anyhow, we are not buying ASW.v for their alluvial bounty, but what is interesting, is that ASW.v will use waste
rock from their crushing plant to realize a revenue stream that may well pay for the production costs of their gold.
This of course provides them with stability in the uncertain markets as of late. This is obvious when looking at their
chart. While many near-term production situations have been decimated, ASW.v has held up remarkably well. CEO
Len Danard would tell you this is due to 13% insider ownership, and to the strong shareholder base they have. I
agree with that, but not needing to rely entirely on short-term precious metals price also helps, I'm sure.
We are buying ASW.v for potential exploration upside, and of course, the near-term gold production from their
existing mine, which holds a tremendous amount of historical resources. I know this to be the case because we have
been undergound and seen many loaded ore shoots. The numerous ore dumps also allow for immediate, low cost
feed for their mill.
What is most intriguing to us is the current drill program. ASW.v is drilling, and proving extended mineralization on a
north heading to the existing Kenville Gold Nime. It is important to consider that at $35 per ounce/gold, the mine was
operating profitably, and was only shut down due to the demand for miners during world war II. Miners were
expected to join the ranks of those extracting copper, nickel and lead etc. for the desperately need war machine of
the time.
With all the work ASW.v has done to rehabilitate mine workings and surface infrastructure, along with the new
processing equipment on site, we see little in the way of hindrances which could derail their near-term gold
production goals. Add on top of this the demand for the waste products they will generate in the process, with a
10,000 meter drill program underway, we see ASW.v as an excellent risk/reward investment. While the pay-off may
not be immediate, we believe there is a good amount of downside protection in place, which will allow us to build a
growing position in the company, which the size of will be determined with upcoming assay results.
We would like to thank the ASW organization for hosting our visit, and hope we will be invited back for the
commisioning of the mill and recovery circut.
More analysis on ASW.v to come in the future.
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