Ansell Capital Corp.
TSX VENTURE : ACP

May 05, 2009 09:30 ET

Ansell Capital Corp. Acquires Second Nevada Property

WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2009) - Ansell Capital ("Ansell") (TSX VENTURE:ACP) announced today that it has entered into an Agreement to acquire 100% interest in the North Battle Mountain Property from F.R.O.G. Consulting LLC. The aggregate consideration payable under the option is $1.5 million (USD), 1 million shares and exploration expenditures to be incurred over 10 years in the amount of $1,700,000 with $2,500 USD and 25,000 shares due and payable upon signing and no exploration expenditures to be incurred within the first year of the signing of the agreement.

The North Battle Mountain Property (NBM Property) consists of 36 unpatented lode mining claims covering approximately 291 hectares (720 acres) of federal land located approximately 18 kilometers north of Battle Mountain, Nevada.

North Battle Mountain Property

The property lies within the gold-rich, Battle Mountain-Eureka mineral belt/fault zone and specifically along the western edge of the Northern Nevada Rift. 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. The NBM property is located approximately 48 kilometers northwest of Newmont's Twin Creek gold mine, 47 kilometers northwest of Barrick's Getchell gold mine, 37 kilometers southeast of Newmont's Phoenix gold mine, and 5 kilometers southeast of Newmont's Mule Canyon gold mine. Numerous gold/silver occurrences and small mines are found along both the Battle Mountain-Eureka belt and within the Northern Nevada Rift zone.

The U.S. Geological Survey discovered anomalous gold, silver, arsenic and mercury along the western flank of the Sheep Creek Range in the late-1960s. Several companies subsequently explored for gold in the region, including Battle Mountain Gold, Placer Dome, Teck, Gold Fields, Touchstone, Cambior, Cameco and most recently by Gold Reef International, primarily near historic mine workings.

The NBM property was explored by Cameco Gold in the late-1990s and more recently by the vendor. Three hundred and twenty-five rock chip samples were collected and assayed for both precious and base metals. Elevated gold values range from 10 to 407 ppb; in addition, significant anomalous values of arsenic, antimony, mercury, molybdenum, zinc, lead, and tungsten were detected.

Detailed geologic mapping and geochemical data indicate the presence of two high-angle fault and fracture controlled gold-bearing zones. Each zone exhibits hydrothermal alteration, brecciation, multiple episodes of stock-work quartz veining and intense fracturing. In addition, outcropping bull quartz veins contain visible molybdenite, galena and black jack sphalerite.

One of these mineralized zones trends from E-W to N60 degrees E and is approximately 150 meters wide and over 600 meters long and is open to the east. The other zone trends N35 degrees W and is over 150 meters wide and 300 meters long and open in all directions.

Recent wide-spaced, gravity geophysical information indicates the property is underlain by a strong gravity high, which is interpreted as either due to a mafic intrusive at depth or a horst block.

The widespread occurrence of zinc, along with arsenic, antimony and mercury is extremely encouraging as these elements are often elevated in areas above or distal to major Carlin-style gold systems. In addition, the presence of molybdenite and tungsten is also suggestive of areas above or distal to major gold systems.

Work plans include additional gravity and CSAMT geophysical work and additional soil sampling. Results along with the previous geologic mapping and geochemical sampling will be used to define drill programs.

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

ANSELL CAPITAL CORP.

Jevin Werbes, President & CEO

For further information, please visit the website at www.sedar.com to view the Company's profile.

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.

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)