Swift Resources Inc. Provides Property Update
February 09 2012 - 2:11PM
Marketwired Canada
Swift Resources Inc. (the "Company") (TSX VENTURE:SWR) is pleased to provide an
update on its properties. The Company has received the analytical results from
the recent 14 hole diamond drill program completed on the Castlegar project in
southern B.C. In total, 2068 metres of drilling was completed. Three holes were
drilled on the Amazing Grace property and 11 holes were drilled on the Klovance
property.
Klovance Property
On the Klovance property, drilling tested known zones of polymetallic
mineralization, down-dip from surface exposures, as well as testing the broad
structural corridor that hosts the zones of mineralization. Two distinctly
different styles of mineralization were intersected. Polymetallic veins and
veinlets are common, with sphalerite, galena, pyrrhotite, pyrite and
chalcopyrite in a quartz-calcite +/- epidote gangue. Although locally grades are
attractive, the polymetallic veins are of limited size and are difficult to
trace any significant distance. The second style of mineralization consists of
stockwork, blebby and net-textured replacements of pyrrhotite, with lesser
pyrite and chalcopyrite and only traces of galena and sphalerite. Mineralization
of this type was intersected in several holes, over core lengths ranging from 11
m to 60 m. Although visually impressive, the broad zones of pyrrhotite
mineralization were only locally significantly anomalous in copper and silver
and lacked any noteworthy gold enrichment. Highlights from the drill program are
summarized below.
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Hole # Sample From To Interval Ag Pb Zn Cu Au
m m m g/t % % % g/t
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KL-11-05 22391 98.16 98.50 0.34 39 2.23 7.58 0.474 0.009
----------------------------------------------------------------------
----------------------------------------------------------------------
KL-11-05 22416 149.32 149.70 0.38 61 0.32 0.18 1.331 less
than
0.005
----------------------------------------------------------------------
KL-11-05 22417 149.70 150.18 0.48 410 2.68 4.95 4.416 0.074
----------------------------------------------------------------------
Avg 0.86 255.79 1.64 2.84 3.05
----------------------------------------------------------------------
----------------------------------------------------------------------
KL-11-06 17514 115.00 117.50 2.50 33 0.20 0.34 0.236 0.070
----------------------------------------------------------------------
KL-11-06 17515 117.50 120.02 2.52 24 0.17 0.14 0.140 0.011
----------------------------------------------------------------------
KL-11-06 17516 120.02 122.50 2.48 16 0.13 0.12 0.122 0.010
----------------------------------------------------------------------
Avg 7.50 24.35 0.17 0.20 0.17 0.030
----------------------------------------------------------------------
----------------------------------------------------------------------
KL-11-06 17526 141.83 142.14 0.31 214 2.69 6.27 0.191 0.023
----------------------------------------------------------------------
KL-11-08 17565 79.90 80.83 0.93 12 1.11 0.98 0.026 0.007
----------------------------------------------------------------------
KL-11-10 17635 96.56 96.76 0.20 140 5.03 3.41 0.141 0.009
----------------------------------------------------------------------
KL-11-11 17682 32.48 32.58 0.10 162 2.79 2.72 0.334 less
than
0.005
----------------------------------------------------------------------
KL-11-11 17683 32.58 35.46 2.88 3 0.06 0.11 0.012 less
than
0.005
----------------------------------------------------------------------
KL-11-11 17684 35.46 35.58 0.12 124 5.51 6.72 0.089 0.007
----------------------------------------------------------------------
KL-11-11 17685 35.58 37.08 1.50 1 0.04 0.04 0.007 less
than
0.005
----------------------------------------------------------------------
KL-11-11 17686 37.08 37.19 0.11 65 0.91 1.48 0.073 less
than
0.005
----------------------------------------------------------------------
Avg 4.71 10.27 0.27 0.34 0.02
----------------------------------------------------------------------
----------------------------------------------------------------------
KL-11-11 67493 172.86 172.98 0.12 146 2.86 1.27 0.843 less
than
0.005
----------------------------------------------------------------------
Amazing Grace Property
On the Amazing Grace property, hole AG-11-01 was drilled to test the Maude S
showing, where narrow gold-bearing quartz veins have been explored by several
historic adits. The only result of interest was a narrow quartz vein which
returned 454.4 g/t Au and 85 g/t Ag over the 10 cm vein width. Holes AG-11-02
and AG-11-03 were drilled to test the BW vein, where trenching had exposed a
narrow vein that returned high grade gold values from select grab samples. The
vein was not intersected in either drill hole, nor were there any analytical
results of interest from these holes.
All of the analytical results from the drill program have been received and any
results of significance are reported in this release. Widths described above are
core lengths and have not been corrected to true width. Core was split, with
half-core samples shipped to Acme Analytical Laboratories in Vancouver, an ISO
9001:2008 accredited laboratory. Gold analyses were by 30 gram FA/AA (Acme
method G601). Silver and base metal assays were by Acme's Group 7AR
(multi-element assay by ICP emission spectrometry). A quality control-quality
assurance program was implemented by the company during the drill program,
including company inserted blanks and standards.
Linda Caron, M.Sc., P.Eng. is the qualified person under NI 43-101 who has
reviewed and approved the technical content of this news release.
About the Company
Swift Resources Inc. is a mineral exploration company advancing the Castlegar
Gold Project in south-western British Columbia. For additional information about
the Company visit our website at www.swiftres.com.
The information in this release may contain forward-looking information under
applicable securities laws. This forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause actual results
to differ materially from those implied in the forward-looking information.