Anglo Swiss gets aggregate quarry permit (January 21, 2008)

Vancouver — Anglo Swiss Resources (ASW-V, ASWRF-O) has been granted a mine permit for quarrying operations on its Kenville project, near Nelson, B.C.

The permit, issued by B.C.’s Mines Ministry, allows the company to operate a quarry at its Venango site. Anglo Swiss plans to extract the waste granitic rock from the historic Kenville gold operation for use in the local aggregate market.

Operations will crush and screen waste material from past tunnelling at the mine into drain rock-sized product. Anglo Swiss’s wholly owned subsidiary, Kenville Sand and Gravel, will initially process 6,500 tonnes of granite in preparation for the start of the spring construction season in the Nelson-Castlegar area.

The company’s recently refurbished milling facility at Kenville, adjacent to the Venango site, will process the rock. Anticipating the operation will generate healthy revenue, Anglo Swiss plans to expand its aggregate production, targeting other waste rock dumps on the property from previous mining.

As part of the process, crushed fines will be evaluated for gold content as the granites contain quartz veinlets that likely carry some precious metal mineralization.

The Kenville mine operated from 1890-1954, producing about 65,000 oz. gold plus some silver from more than 183,000 tonnes of ore. The material also contained minor amounts copper, lead, zinc and tungsten.

Mineralization is hosted in a series of narrow northwest-trending quartz veins in a mafic to ultramafic intrusive complex. Veins contain pyrite and chalcopyrite, along with minor amounts of galena, scheelite, sphalerite and some visible gold.

In the mid-1990s, Anglo Swiss partnered with Teck Cominco (TCK.B-T, TCK-N) predecessor company Teck — targeting the copper-gold porphyry potential at Kenville. After drilling a dozen holes totalling about 2,500 metres, the major dropped its option.

Besides its gold projects in southeastern B.C., Anglo Swiss holds diamond exploration properties north of Yellowknife, in the Northwest Territories.

Shares of the junior have recently traded at around 44 in a 52-week trading range of 5-67.