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ANSELL CAPITAL CORP. ANNOUNCES ACQUISITION OF CLAIMS ADJOINING THE CHARLOTTE PROPERTY
Feb. 8, 2011 (TheNewswire.ca) -- Ansell Capital Corp. ("Ansell") is pleased to announce that...
About this update from Briacell Therapeutics Corp
[{"type":"text","content":"\nANSELL CAPITAL CORP. ANNOUNCES ACQUISITION OF CLAIMS ADJOINING THE CHARLOTTE PROPERTY\n\n\n Feb. 8, 2011 (TheNewswire.ca) -- Ansell Capital Corp. (\"Ansell\") is pleased to announce that it has entered into an arm's length Letter of Intent (\"LOI\") dated February 7, 2011 with Aurchem Exploration Ltd. (\"Aurchem\") of Parksville, British Columbia to acquire up to a 100% interest in and to 179 mineral claims(the \"Discovery Creek Property\") covering approximately 3,000 hectares of mineral prospective lands located immediately to the west of, and adjacent to, Ansell's Charlotte property which Ansell is proposing to acquire from Eagle Trail Properties Inc. and Guinness Exploration Inc. (OTCBB:GNXP) as announced by Ansell's in its News Release of October 14, 2010.Aurchem Exploration Ltd. is a private corporation owned and controlled by John Schneider of Parksville, British Columbia.Under the LOI entered into with Aurchem, Ansell can acquire a 100% interest in and to the Discovery Creek Property for and in consideration of the sum of $3,000,000 due and payable in installments over five years.By paying $1,500,000 in installments over the first four years form the Effective Date of a definitive agreement to be settled, Ansell will have acquired a 49% interest in and to the Discovery Creek Property. By paying a further $1,500,000 at the end of the fifth year from the Effective Date, Ansell will have acquired the remaining 51% interest in and to the Property.A major portion of the Discovery Creek Property will be acquired subject to a 1.5% Net Smelter Return Royalty.The Discovery Creek Property is located in the prolific Tintina Belt. Gold-Silver mineralization in the Discovery Creek Property area consists of northwest trending quartz-sulphide veins, steeply plunging quartz-sulphide rich breccia bodies and east-westerly trending quartz-vein stock-work zones in clay-rich alteration zones. Mineralized zones and occurrences are spatially related to the central Mount Nansen Porphyry Complex and associated Late Cretaceous stocks and dikes.Exploration in the area since 1971 has included geological mapping, geochemical soil sampling, geophysical surveys, trenching and shallow drilling (104 holes, 12,200+m). The exploration has been carried out by several operators and focused on a number of occurrences in the area. Significant concentrations...