We propose a novel fast and accurate simulation framework for contact-intensive tight-tolerance robotic assembly tasks. The key components of our framework are as follows: 1) data-driven contact point clustering with a certain variableinput network, which is explicitly trained for simulation accuracy (with real experimental data) and able to accommodate complex/non-convex object shapes; 2) contact force solving, which precisely/robustly enforces physics of contact (i.e., no penetration, Coulomb friction, maximum energy dissipation) with contact mechanics of contact nodes augmented with that of their object; 3) contact detection with a neural network, which is parallelized for each contact point, thus, can be computed very quickly even for complex shape objects with no exhaust pair-wise test; and 4) time integration with PMI (passive mid-point integration [1]), whose discrete-time passivity improves overall simulation accuracy, stability, and speed. We then implement our proposed framework for two widely-encountered/benchmarked contactintensive tight-tolerance tasks, namely, peg-in-hole assembly and bolt-nut assembly, and validate its speed and accuracy against real experimental data. It is worthwhile to mention that our proposed simulation framework is applicable to other general contact-intensive tight-tolerance robotic assembly tasks as well. We also compare its performance with other physics engines and manifest its robustness via haptic rendering of virtual bolting task.