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Fry Inlet Diamond Project - Summary

Anglo Swiss Resources Inc. acquired the Fry Inlet Fry Inlet Claim MapDiamond property consisting of 42 contiguous mineral claims, which is located immediately to the west of Fry Inlet Lake and directly 25 km east of the Ranch Lake kimberlite and 25 km north of the BHP Billiton Diamonds Inc. Ekati Mine property.

The claims were acquired in two separate transactions in June of 2005; the New Shoshoni option/joint venture for up to 60% (58,284 acres) and the PQ claims (33,572 acres) for a 100% interest totaling over 91,856 acres.

Previous exploration programs by Kennecott Canada Exploration in 1997 identified a kimberlite body on the property (LI-201). Fry Inlet Relief MapKennecott drilled four holes, two of which intersected LI-201, and retrieved 14 macro-diamonds and 46 micro-diamonds from 281.1 kg of kimberlite.

 

 

A review of the publicly available data indicated the following:

  • There are some unresolved indicator mineral trains possibly indicating the presence of undiscovered kimberlites on the Fry Inlet Diamond Property.
  • The property is under explored by modern exploration technology.
  • There are 8 reported geophysical anomalies.
  • The property is in an area known to produce diamondiferous kimberlite (LI-201).
  • The current understanding of LI-201 leaves more questions than answers.

Geophysical surveys suggest that the body may be larger with only two preliminary drill holes encountering kimberlite. Encouraging macro and micro diamond counts indicate the LI-201 kimberlite has tapped the diamond stability field.

Initial field work consisting of a detailed airborne geophysical survey of the eastern portion of the property has been commissioned to Fugro Airborne Surveys Corp in February, 2006.

A total of 1,695 line-kilometers are being flown during this survey Fry Inlet Mineral Indicatoralong parallel flight lines spaced 100 meters apart. This program will re-evaluate the known diamondiferous kimberlite and evaluate the remainder of the claim block for potential sources of anomalous KIM?s present locally.

Recommended Program

T-31 kimberlite body should be relocated and re-evaluated. Given the positive indicator results in the north-western portion of the property a detailed helicopter-borne magnetic and EM-resistivity surveys should flown on them at 100m line spacing. Additional indicator mineral sampling to verify previous operators results. Ground geophysical surveys of prospective airborne anomalies. Drill testing of anomalies as warranted.