Ansell Capital Corp.
TSX VENTURE : ACP

Ansell Capital Corp.

September 14, 2012 09:00 ET

Ansell Capital Corp Announces Results From 2012 Drill Program at Charlotte Property, Yukon; Potential of Flex Zone Expands

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2012) - Ansell Capital Corp. ("Ansell") (TSX VENTURE:ACP) is pleased to announce the final assay results from the summer 2012 drill program at the Charlotte gold project in the Tintina gold belt, Yukon.

Complete assays have now been received for all of the six diamond drill holes completed on the Flex Zone at the Charlotte property located in the prolific Tintina belt. The drill program for summer 2012 comprised of 6 holes for a total of 1883.54 metres.

The drill results have opened up the south end of the Flex Zone both along strike and down dip, In addition, the potential for down plunge extensions of the wide and well mineralized zones in the central part of the Flex is considerably enhanced.

Highlights from the 2012 drilling include:

  • DDH-12-280 27.7 g/t Au, 429.9 g/t Ag over 2.64 m
    and 2.57 g/t Au, 114.0 g/t Ag over 23.74 m
    including 6.70 g/t Au, 316.7 g/t Ag over 8.14 m
  • DDH-12-276 49.43 g/t Au, 871.6 g/t Ag over 1.55 m
    and 1.14 g/t Au, 63.6 g/t Ag over 14.26 m
  • DDH-12-278 1.57 g/t Au, 26.2 g/t Ag over 13.00 m
    including 4.15 g/t Au, 73.9 g/t Ag over 4.08 m

The objectives of the 2012 program were to expand the known mineralization in the Flex Zone to the south and at depth. In addition, one hole tested the previously undrilled area between the Flex and Webber zones. In summary:

DDH 12-275 tested the area between the Flex and Webber zones. It intersected one narrow high grade zone (12.2 g/t Au over 0.60 m), as well as a wider low grade zone;

DDH 12-276 successfully tested the down plunge extension of the Hanging Wall Vein, in the centre of the zone. Four well mineralized zones were intersected, including 49.43 g/t Au and 871.6 g/t Ag over 1.55 m, as well as 1.14 g/t Au and 63.6 g/t Ag over 14.26 m;

DDH 12-277 tested for down dip extensions of the central part of the Flex, and intersected three mineralized zones, including 22.88 g/t Au and 192.4 g/t Ag over 1.07 m;

DDH 12-278 tested the potential to expand the Flex to the south and added 30 m to the strike length with two wide intersections, including 1.57 g/t Au over 13.0 m;

DDH 12-279 further tested the potential to expand the Flex to the south, undercutting 12-278 by approximately 30 m and intersected four separate mineralized zones;

DDH 12-280 followed up on the success of 276 and expanded the Flex down plunge by at least 60 m with several well mineralized intercepts (27.7 g/t Au and 429.2 g/t Ag over 2.64 m; 2.57 g/t Au and 114.0 g/t Ag over 23.74 m).

Detailed results are shown in the following table:

Hole From To Width g/t Au g/t Ag
DDH 12-275 217.93 218.70 0.77 0.93 13.0
Az 075
Dip -55 223.98 224.94 0.96 0.73 NSV
292.28 292.88 0.60 12.20 217.0
Flex Zone: undercut DDH-11-255 + test zone between Flex and Webber
DDH 12-276 111.00 117.00 6.00 1.25 21.5
Az 075
Dip -50 155.74 170.0 14.26 1.14 63.6
203.30 204.85 1.55 49.43 871.6
ave grade when high values cut to 30 g/t 24.47
289.76 290.17 0.41 1.66 49.0
Flex Zone: test down plunge extension of HW zone
DDH 12-277 206.90 207.33 0.43 0.87 132.0
Az 045
297.03 298.10 1.07 22.88 192.4
388.26 390.87 2.61 0.65 9.6
Flex Zone: test down dip extent of central Flex Zone
DDH 12-278 91.95 104.02 12.07 0.54 21.0
Az 075
Dip -55 182.00 195.00 13.00 1.57 26.2
includes 184.46 188.54 4.08 4.15 73.9
Flex Zone: test for southern extension of Flex Zone
DDH 12-279 40.23 41.78 1.55 0.66 NSV
Az 095
Dip -71 162.97 163.43 0.46 1.98 132.0
162.97 163.43 0.46 1.97 132.0
198.65 207.40 8.75 0.41 3.63
Flex Zone: test down plunge extension of HW zone, below DDH 12-276
DDH 12-280 143.92 146.56 2.64 27.70 429.2
Az 076 ave grade when high values cut to 30 g/t 13.01
Dip -71 166.10 166.62 0.52 14.20 63.0
181.88 205.62 23.74 2.57 114.0
including 188.06 196.20 8.14 6.70 316.7
Flex Zone: offset DDH 12 -276, 25 m to south, down dip and along strike
NSV = no significant values

A plan view of the drill hole locations for the Flex Zone, as well as two cross sections of the drilling, can be found on Ansell's website (www.ansellcapital.com).

Laboratory analyses were performed by Acme Laboratories, of Vancouver. Of the 700 core samples analyzed during this program, only 4 exceeded the 30 g/t Au. These include 3 consecutive samples in hole DDH 12-276. It is concluded from this preliminary evaluation that cutting high values to an arbitrary lower value is not statistically justified at this time. However for comparative purposes, interval values for those zones containing samples above 30 g/t Au are also shown in the table with the high values cut to 30 g/t Au.

A minimum cut-off grade of 0.25 g/t Au was applied when expending mineralized zones across lower grade material (i.e. the grade of an extension out from higher grade material must exceed 0.25 g/t Au).

Results are reported with down-hole widths. The Flex zone dips steeply to the west to southwest. With the holes being drilled perpendicular to the strike and with collar dips ranging from 50° to 65° from vertical, true widths will vary between 60% and 90% of down-hole widths.

Charlotte Property, Yukon

The property is located in the Whitehorse Mining District, Yukon, approximately 180 kilometres northwest of Whitehorse and 60 kilometres west of Village of Carmacks in the Yukon.

The property lies in a historic gold/silver mining district. Intense exploration activities have been carried out since 1899 in the area. Four distinct gold- and silver-mineralized zones (the Brown-McDade zone, the Webber zone, the Huestis zone and the Flex zone) have been identified and all but the Flex Zone have been mined historically. The last operator on the property was BYG Natural Resources Ltd.

The Webber, Huestis and Flex zones are located on the property. The Brown-McDade zone, which was mined by open-pit methods, is located on an adjacent property to the South East. Precious metal veins on the surface and underground have been mined by various operators including Pesco Silver Minerals Ltd. and BYG Natural Resources Ltd.

In 2008, a geophysical survey was conducted on the property with the aim of locating and evaluating the extent and nature of the mineralization in the district. The results of this survey have added to the understanding of the property geology and are being used to guide continuing exploration. Gold and silver mineralization occurs in northwest-trending shear zones hosted by metamorphic rocks. The metamorphic rocks have been cut by narrow and linear intrusive dikes and sills. Precious metal mineralization commonly occurs in quartz-sulphide vein systems within the shear zones and is associated primarily with pyrite and lesser arsenopyrite.

Jevin Werbes, president and chief executive officer, commented: "We are very pleased that our drill program on Flex Zone has enhanced the potential of the zone. This year's drilling has built on the excellent results from 2011 and shows that the Flex could well develop substantial dimensions. The zone is clearly open in several directions, and fully justifies additional drilling. Further, previous work on the project shows that the property has excellent potential for the discovery of more mineralized zones."

Chris M. Healey, P. Geo, a director of Ansell, is the qualified person responsible for the technical information in this release.

On behalf of the Board of Directors

Jevin Werbes, President

Ansell Capital Corp.

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