Ansell Capital Corp. Acquires Second Nevada Property
May 05 2009 - 8:30AM
Marketwired
Ansell Capital ("Ansell") (TSX VENTURE: ACP) announced today that
it has entered into an Agreement to acquire 100% interest in the
North Battle Mountain Property from F.R.O.G. Consulting LLC. The
aggregate consideration payable under the option is $1.5 million
(USD), 1 million shares and exploration expenditures to be incurred
over 10 years in the amount of $1,700,000 with $2,500 USD and
25,000 shares due and payable upon signing and no exploration
expenditures to be incurred within the first year of the signing of
the agreement.
The North Battle Mountain Property (NBM Property) consists of 36
unpatented lode mining claims covering approximately 291 hectares
(720 acres) of federal land located approximately 18 kilometers
north of Battle Mountain, Nevada.
North Battle Mountain Property
The property lies within the gold-rich, Battle Mountain-Eureka
mineral belt/fault zone and specifically along the western edge of
the Northern Nevada Rift. Within the Battle Mountain-Eureka mineral
belt, reported gold reserves, from 1996 through 2005 (including the
Twin Creeks and Getchell gold mines) stood at over 50 million
ounces of gold. The NBM property is located approximately 48
kilometers northwest of Newmont's Twin Creek gold mine, 47
kilometers northwest of Barrick's Getchell gold mine, 37 kilometers
southeast of Newmont's Phoenix gold mine, and 5 kilometers
southeast of Newmont's Mule Canyon gold mine. Numerous gold/silver
occurrences and small mines are found along both the Battle
Mountain-Eureka belt and within the Northern Nevada Rift zone.
The U.S. Geological Survey discovered anomalous gold, silver,
arsenic and mercury along the western flank of the Sheep Creek
Range in the late-1960s. Several companies subsequently explored
for gold in the region, including Battle Mountain Gold, Placer
Dome, Teck, Gold Fields, Touchstone, Cambior, Cameco and most
recently by Gold Reef International, primarily near historic mine
workings.
The NBM property was explored by Cameco Gold in the late-1990s
and more recently by the vendor. Three hundred and twenty-five rock
chip samples were collected and assayed for both precious and base
metals. Elevated gold values range from 10 to 407 ppb; in addition,
significant anomalous values of arsenic, antimony, mercury,
molybdenum, zinc, lead, and tungsten were detected.
Detailed geologic mapping and geochemical data indicate the
presence of two high-angle fault and fracture controlled
gold-bearing zones. Each zone exhibits hydrothermal alteration,
brecciation, multiple episodes of stock-work quartz veining and
intense fracturing. In addition, outcropping bull quartz veins
contain visible molybdenite, galena and black jack sphalerite.
One of these mineralized zones trends from E-W to N60 degrees E
and is approximately 150 meters wide and over 600 meters long and
is open to the east. The other zone trends N35 degrees W and is
over 150 meters wide and 300 meters long and open in all
directions.
Recent wide-spaced, gravity geophysical information indicates
the property is underlain by a strong gravity high, which is
interpreted as either due to a mafic intrusive at depth or a horst
block.
The widespread occurrence of zinc, along with arsenic, antimony
and mercury is extremely encouraging as these elements are often
elevated in areas above or distal to major Carlin-style gold
systems. In addition, the presence of molybdenite and tungsten is
also suggestive of areas above or distal to major gold systems.
Work plans include additional gravity and CSAMT geophysical work
and additional soil sampling. Results along with the previous
geologic mapping and geochemical sampling will be used to define
drill programs.
Chris M. Healey P.Geo., a Director of Ansell, is the Qualified
Person responsible for the technical information contained in this
release.
ANSELL CAPITAL CORP.
Jevin Werbes, President & CEO
For further information, please visit the website at
www.sedar.com to view the Company's profile.
WARNING: The Company relies on litigation protection for
"forward looking" statements. Actual results could differ
materially from those described in the news release as a result of
numerous factors, some of which are outside the control of the
Company.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
News Release.
Contacts: Ansell Capital Corp. Jevin Werbes President & CEO
(604) 921-1810 (604) 921-1898 (FAX)
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