ASWRF Anglo Swiss Resources Acquires Additional Lac de Gras Diamond Claims-Interest in Excess of 108,000 Acres in the NWT.: "ASWRF Anglo Swiss Resources Acquires Additional Lac de Gras Diamond Claims-Interest in Excess of 108,000 Acres in the NWT.
VANCOUVER, British Columbia--(BUSINESS WIRE)--June 30, 2005--Anglo Swiss Resources Inc. (TSX VENTURE:ASW)(OTCBB:ASWRF)(BERLIN:AMO) is pleased to report it has entered into an agreement with a private prospecting syndicate, whereby Anglo Swiss will acquire a 100% interest in 13 mineral claims PQ 1-13, covering approximately 33,572 acres in the Lac de Gras area of the NWT.
These claims are contiguous to the recently optioned Li 201 property (New Shosohoni Diamondiferous Kimberlite Option announced June 27, 2005) and trains of Kimberlite Indicator Minerals ('KIM's') have been observed on these claims. The property is underlain by rocks of the Slave Craton, which locally host the Ekati and Diavik diamond mines (approximately 60 and 90 kilometres from the Li 201 property respectively).
In light of the close proximity to a known diamondiferous kimberlite and the presence of KIM's, management is of the opinion that this property is highly prospective for the discovery of diamonds and that the acquisition of these claims significantly enhances the Company's property position in the Lac de Gras region.
This acquisition is subject to Exchange approval and requires the Company to make cash payments totalling $50,000 and issuing 5,000,000 shares of Anglo Swiss to the vendors. The Vendors retain a 2% gross overriding royalty ('GORR') on any diamond production, of which the Company may purchase 1% point for $1,000,000. A kimberlite 'discovery bonus' is included by which the Compa"
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