Business
ANSELL CAPITAL CORP. ANNOUNCES OPTION TO ACQUIRE SHAWN RYAN'S DAL PROPERTY, YUKON TERRITORY
Mar. 4, 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 OPTION TO ACQUIRE SHAWN RYAN'S DAL PROPERTY, YUKON TERRITORY\n\n Mar. 4, 2011 (TheNewswire.ca) -- Ansell Capital Corp. (\"Ansell\") is pleased to announce that it has today entered into an arms length agreement with Shawn Ryan and Wildwood Exploration Inc. (the \"Vendors\") of Whitehorse, Yukon Territory to purchase the Dal property located in the Dawson Mining District of the Yukon Territory.The Property consists of approximately 178 mineral claims covering an area of approximately 3600 Hectares located within an east-west corridor that hosts ATAC Resources Ltd's (TSXV:ATC) Rau Trend (Tiger Zone) to the west and ATAC's Nadaleen Trend (Osiris zone) to the east. The claims are contiguous to ATAC's property with in the Nadaleen trend.Historical grab samples taken from outcrops on the Property have yielded high grade gold and copper values. Two samples taken from a showing in the east of the property assayed 20.37 g/t Au, 10.4% Cu and 8.3 g/t Au, 16.0% Cu respectively. One sample taken from a showing to the west of the property assayed 5.27% Cu.The property contains a major east trending magnetic anomaly detected by an airborne magnetic survey by the Geological Survey of Canada (GSC). This magnetic anomaly is interpreted by the GSC to be surface expression of ultramafic rocks. Published geological reports for the area characterize this anomaly to be due to komatiitic ultramafic flows, with associated listwaenites (silica-carbonate-fuchsite-altered serpentinites). The komatiites are reported to be a potential source for copper-nickel-bearing massive sulphide mineralization and the listwaenites a potential host for gold mineralization (J-P Jutras, Yukon Exploration and Geology 2002). The ultramafic sequences occur in an anticlinal structure, exposing a volcano-sedimentary stratigraphic sequence in its core. These formations are overlain by a sedimentary sequence which includes shales, sandstones and conglomerates. In addition, resistant limestone units form prominent hilltops.Ansell can acquire a 100% interest in and to the Dal property by paying to the Vendors the sum of $450,000 and 2,000,000 common shares of its capital stock and incurring expenditures on the property in the aggregate amount of $2,200,000. The cash and share consideration is payable in installments over a four year period and the e...