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Thu, May 31, 2012 Ansell Capital Corp. Announces Mobilization for Summer Field Program at Charlotte Property, Yukon
May 31, 2012 12:02 ET
Ansell Capital Corp. Announces Mobilization for Summer Field Program at Charlotte Property, Yukon
WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2012) -Ansell Capital Corp. ("Ansell") (TSX VENTURE:ACP) is pleased to announce that crews have mobilizing for the summer field program at the Charlotte gold project in the Tintina gold belt, Yukon. The program will include 2000 metres of diamond drilling, as well as trenching and soil geochemistry.
Diamond drilling will be carried out by D.J. Drilling (2004) Ltd of Aldergrove, B.C., and will consist of approximately 2000 meters in 7 holes. The drill strategy will be to explore depth extensions of the Flex Zone, to test the area between the Flex and Webber zones which has never been previously drilled, and to follow up on high grade samples in trenches at the north end of the Huestis zone.
Approximately 1.2 km of trenching in the northern Cu-Mo-Au porphyry will be completed as well as 1 km in other areas following up on multi-element anomalies. In addition to drilling, Ansell has planned a short soil survey over claims staked in 2011.
The field program will be managed by Coast Mountain Geological of Vancouver, B.C.
The 2011 drill program on the property confirmed and expanded known high grade gold and silver vein hosted mineralization. The strike length of the deposit, on the Flex Zone alone, was extended to 580 metres long and up to 90 metres wide and remains open to the south, southwest and at depth.
The current working deposit model is similar to other surrounding vein deposits (the Webber, Huestis, and the past producing Brown-McDade as well as to the Flex deposit), forming a set of mineralizing shears. The mineralizing fluids filled in pockets formed during an extension period and have been subsequently faulted. The deposit is a braided series of gold-silver bearing quartz veins accompanied by significant base metal mineralization. The veins crosscut both the gneisses of the Yukon Terrane and the intruded feldspar and quartz feldspar porphyries of the Mt. Nansen volcanics.
Charlotte Property, Yukon
The property is located in the Whitehorse Mining District, Yukon, approximately 180 kilometres northwest of Whitehorse and 60 kilometres west of Village of Carmacks in the Yukon.
The property lies in a historic gold/silver mining district. Intense exploration activities have been carried out since 1899 in the area. Four distinct gold- and silver-mineralized zones (the Brown-McDade zone, the Webber zone, the Huestis zone and the Flex zone) have been identified and all but the Flex Zone have been mined historically. The last operator on the property was BYG Natural Resources Ltd.
The Webber, Huestis and Flex zones are located on the property. The Brown-McDade zone, which was mined by open-pit methods, is located on an adjacent property to the South East. Precious metal veins on the surface and underground have been mined by various operators including Pesco Silver Minerals Ltd. and BYG Natural Resources Ltd.
In 2008, a geophysical survey was conducted on the property with the aim of locating and evaluating the extent and nature of the mineralization in the district. The results of this survey have added to the understanding of the property geology and are being used to guide continuing exploration. Gold and silver mineralization occurs in northwest-trending shear zones hosted by metamorphic rocks. The metamorphic rocks have been cut by narrow and linear intrusive dikes and sills. Precious metal mineralization commonly occurs in quartz-sulphide vein systems within the shear zones and is associated primarily with pyrite and lesser arsenopyrite.
Jevin Werbes, President of Ansell commented, "The planned program will follow-up on the successful results of the 2011 drilling. This will include expanding the extents of known mineralization, developing new targets, and also validation of the geological model."
Chris M. Healey, P. Geo, a director of Ansell, is the qualified person responsible for the technical information in this release.
On behalf of the Board of Directors
Jevin Werbes, President
Ansell Capital Corp.
For further information, please visit the website at [ www.sedar.com ] to view the Company's profile.
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.
