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 of gold and silver have been found on the property, both in drill holes and in surface outcrops.
Ansell's proposed acquisition of the Discovery Creek Property will leave Ansell with an interest in a total of 307 full or fractional claims covering a total of 5,336 hectares of mineral prospective lands located in the Tintina gold belt, a 200 kilometers wide and 1,200 kilometers long trend which includes several significant gold deposits including Pogo, Forth Knox, True North, Donlin Creek and Shotgun.
Jevin Werbes, President stated: "We are very pleased to have consolidated the Discovery Creek Property with the Charlotte Property. This gives us a substantial contiguous claim block in this very prolific mining camp. We plan on being extremely active in the Yukon during the upcoming 2011 spring and summer exploration season".
A finder's fee is due and payable in connection with the proposed acquisition.
Chris Healey, P. Geo 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.
Ansell's proposed acquisition of both the Aurchem and the Charlotte Property are subject to prior TSX Venture Exchange approval.
On behalf of the Board of Directors
"Rahoul Sharan"
Rahoul Sharan, Director
Ansell Capital Corp.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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