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Jun. 1, 2011 (TheNewswire.ca) --
Ansell Capital Corp. ("Ansell") is pleased to announce that the Definitive Agreement related to its acquisition of an interest in the Discovery Creek Property located adjacent to Ansell's Charlotte Property as referred to in Ansell's News Release of February 8, was signed on May 19, 2011 and exploration crews have been mobilized for the commencement of the 2011 exploration season on the Company's Yukon properties.
A drill rig to be provided by D.J. Drilling of Abbotsford will be on site for the commencement of Ansell's drill program in the second week of June.
Coast Mountain Geological Ltd. of Vancouver has been contracted to provide project management services for the exploration on both the Charlotte and Discovery Creek properties.
The 2011 exploration program is expected to cost a minimum of $2,000,000 and will focus on the further delineation of the Flex and Webber gold zones. In 2010 a 1452 meter, 14-hole drill program completed on the Flex zone expanded the resource potential and confirmed historic results over a strike length of 450m. Hole 243, drilled in 2010, intersected 28.9 meters of 5.06 g/t of gold and 138.1 g/t silver. Drilling is also planned to test several new on echelon targets identified in previous programs and additional trenching will be carried out to identify new drill targets on its newly acquired claims.
The Charlotte Property and the adjoining Discovery Creek Property are located near Mt. Nansen in the prolific Tintina gold belt, Yukon Territory, Canada. Previous drilling has indicated the presence of significant gold and silver mineralization on the Charlotte Property over considerable widths, and over at least 450 m of strike length, which is open both along strike and down dip. The Flex Zone occurs as several sub-parallel anastamosing quartz-sulfide vein systems. These veins host strong gold and silver mineralization associated primarily with pyrite and lesser arsenopyrite, stibnite, galena and sphalerite. The veins often exhibit propylitic, phyllitic, argillic and silicic alteration in broad alteration envelopes.
The Flex Zone is hosted in an assemblage of metamorphic rocks comprised dominantly of quartz-feldspar
chlorite gneiss which grades locally into quartzite. Dark green amphibolite gneiss, comprised of equal parts plagioclase and actinolite, is commonly intercalated with the quartz-feldspar gneiss. These older rocks are cut by narrow quartz-feldspar dykes and sills. The north end of the Flex Zone, in the vicinity of drill holes 10-240 and 241, is underlain by a quartz-feldspar porphyry stock at depth.
Previous trenching was carried out to confirm and extend known mineralization on 6 previously identified zones (Huestis, Webber, Cabin, Orloff-King, Dickson, and GRW zones). The trenching program totalled 2,243 metres in 20 trenches.
At both the Huestis and Webber zones, the trenching extended the known mineralization. At the Cabin, Orloff-King and GRW zones, the program has successfully delineated new zones of gold and silver mineralization that are open to depth and along strike. In particular, trenching at the GRW zone identified gold and silver in structural settings similar to the Flex zone, which was drilled in 2010 (see news releases dated October 18, 2010 and November 3, 2010), and additionally identified the presence of copper (up to 1600 ppm Cu) in intrusive rocks that were identified in the GRW trenches (indicating a potential porphyry target).
Virtually all of the trenches contained zones of anomalous gold and silver. At Orloff King, Cabin, Webber, and GRW zones, the mineralized trends can be tracked from trench to trench. Work on trace element geochemistry continues, and early analysis suggests the presence of geochemical zonation that may be attributed to the presence of porphyry Cu-Au mineralization in the vicinity of the GRW zone.
In other corporate developments, Rahoul Sharan has been appointed Chairman of the Board of Directors effective May 31, 2011.
Chris Healey, P. Geo, a Director of Ansell, is the Qualified Person, as defined in NI 43-101, and is responsible for the preparation of the technical information contained in this News Release.
On behalf of the Board of Directors
Jevin Werbes, President
For further information, please visit the website at www.sedar.com to view the Company's profile or contact Jevin Werbes at 604-921-1810.
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