Ansell Capital Corp.
TSX VENTURE : ACP

April 28, 2009 09:30 ET

Ansell Capital Corp. Acquires Nevada Gold Property and Rearranges Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Ansell Capital Corp. (TSX VENTURE:ACP) is pleased to announce that it has secured a lease with an option to acquire a 100% interest in and to the Redrock Property located in Lander County, Nevada from Arthur R. Leger (F.R.O.G. L.L.C.). The aggregate consideration payable under the option is $2 million (USD), 1.1 million shares and exploration expenditures to be incurred over 10 years in the amount of $1,900,000, with $10,000 USD due and payable upon signing and $15,000 in exploration expenditures to be incurred within the first year of the signing of the agreement.

The Redrock Property consists of 269 unpatented lode mining claims covering approximately 2,177 hectares (5,380 acres) of federal land located 42 km south of Battle Mountain, Nevada.

Redrock Property

The property lies within the gold-rich, Battle Mountain-Eureka mineral belt and within the greater Cortez mining district, which includes several major gold mines and deposits - Pipeline, Gold Acres, Cortez, Cortez Hills and Pediment. Within the Battle Mountain-Eureka mineral belt, reported gold reserves, from 1996 through 2005 (including the Twin Creeks and Getchell gold mines), stood at over 50 million ounces of gold. Specifically the property is located approximately 23 km west of Barrick's multi-million ounce Pipeline gold deposit; 45 km northwest of Barrick's Cortez hill gold deposit; 19 km east of the Cove-McCoy past gold producer; and 24 km southeast of Newmont's Phoenix gold mine.

Exploration activities in the vicinity of the Redrock Property began in 1996. This exploration work was performed by Centerra (U.S.) Inc. (and its predecessor Cameco Gold).

Exploration work by Cameco Gold led to the discovery of altered and mineralized features in a sandstone member of the Silurian-age Elder Formation (upper plate). These features included zones of intense fracturing, brecciation and gold-in-rock geochemistry values up to 13.2 g/t Au. In 1998, Cameco drilled five shallow, reverse circulation drill holes on its property to test both rock and soil geochemical targets. One hole, RRC98-05, intersected 9.1 m grading 1.285 g/t Au (30 ft at 0.037 oz/ton), immediately beneath alluvium at a depth of 7.6 m. The vertical and lateral extent of this gold mineralization has never been established. Ansell controls all the ground immediately surrounding the Cameco discovery.

Luna Gold explored the Redrock Property briefly in 2004, and then ventured the property to Centerra (U.S.) Inc. From 2005 through 2007, Centerra conducted exploration activities, which included rock and soil geochemical sampling, a regional gravity survey and drilling.

On the Redrock Property Centerra completed a soil survey that consisted of 1,573 soil samples, which covered approximately 70% of the property. The results defined a northwest trending, structurally controlled, nearly contiguous series of gold anomalies that are 12,000 ft long and 3,000 ft wide, with coincident anomalous values of arsenic, antimony, mercury, and zinc. Anomalous gold-in-soil values range from 0.020 g/t Au to 1.195 g/t Au. This zone is located in upper plate, Palaeozoic rocks along and parallel to the northwest-striking Caetano caldera break. This highly significant structural feature brings Tertiary volcanic rocks into juxtaposition with Palaeozoic units, and is one of the most important controls for gold mineralization in the Region.

In addition, Centerra collected over 219 rock samples. Anomalous gold values in rock-chips confirm bedrock sources within the soil anomalies. Two samples from the heart of the gold-in-soil anomaly contained 0.932 and 0.810 g/t Au. Arsenic, mercury, zinc, and to a lesser degree, antimony and silver, show similar results.

Chris M. Healey P.Geo, a Director of Ansell, is the Qualified Person responsible for the technical information contained in this release.

Board of Directors Clarified

Due to the recent reconfiguration of Ansell's Board, the company's board now consists of:

Jevin Werbes - President/CEO/Director

Barry Sheahan - CFO

Bev Funston - Corp. Sec/Director

Rahoul Sharan - Director

Chris Healey - Director

Pat Campling Jr. - Director

ANSELL CAPITAL CORP.

Jevin Werbes, President / CEO

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

Contact Information

  • Ansell Capital Corp.
    Jevin Werbes
    President / CEO
    (604) 921-1810
    (604) 921-1898 (FAX)