Jun. 3, 2010 (TheNewswire.ca) --
June 3, 2010, VANCOUVER, B.C. - Ansell Capital Corp. (TSXV:ACP) ("Ansell") and St. Elias Mines Ltd. (TSXV:SLI) ("St. Elias") are pleased to announce that an Environmental Impact Study ("EIS") has been initiated for the upcoming drill program at the Vilcoro Gold Property (the "Property") located in north-central Peru.
Environmental Impact Study
The companies have secured the services of Pasminaa to complete an EIS required by the Government of Peru in order to obtain a drilling certificate. Pasminaa is a professional organization who had successfully completed a previous EIS on the Vilcoro Property. In addition, representatives of the companies are currently in the field negotiating with the owners of surface rights for permission to build drill roads and platforms.
A Brief History of Exploration
There is no historical evidence of systematic exploration on the Property prior to 2007. A Phase I exploration program consisting of mapping, rock channel samples, soil samples and alteration (PIMA) analyses of rock samples was conducted in 2007. A Phase II exploration program consisting of geophysical surveying and the completion of an EIS was carried out in 2008. Drill targets have been identified as a result of these programs and an initial 3,000-metre drill program is recommended.
Vilcoro Gold Property
The Vilcoro Gold Property, comprising 1,600 hectares, is located near the town of Santiago de Chuco in the sierra of northern Peru. The Property is principally underlain by Tertiary volcaniclastic rocks of the Callipuy Formation. The sierra of northern Peru is one of the most prolific gold-producing regions in the world, and the Callipuy volcanics host the largest of the gold deposits; including three producing multi-million-ounce deposits; Pierina (Barrick), Yanacocha (Newmont and others) and Alto Chicama (Barrick).
The Property is favourably located adjacent to the claim block that covers the Lagunas Norte mine (+9 million oz gold) recently put into production by Barrick Gold (NYSE:ABX) (TSX:ABX) in the Alto Chicama mining district of central Peru. In addition, there are four other important gold deposits within 14 to 24 km of the Vilcoro Property. These deposits are: the Tres Cruces deposit (1.75 million ounces of gold); the Arena deposit (2 million ounces of gold); the Virgen deposit (400,000 ounces of gold); and the Santa Rosa mine (reserves unknown, currently producing approximately 80,000 ounces of gold per year.)
The Property can be explored on a year-round basis as it located at a moderate elevation of between 2,500m and 3,250m and a well-maintained all-weather gravel road, originating at Trujillo on the Pan American Highway, passes through the western third of the Property.
All technical work is being supervised by, and the contents of this news release have been verified by, John Brophy, P.Geo, a Canadian geologist residing in Peru, who is a "qualified person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For additional information on Ansell and its projects, please visit the website at www.ansellcapital.com or call 604-921-1810.
ANSELL CAPITAL CORP.
(signed "Rahoul Sharan")
For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call 1-888-895-5522 (toll free US and Canada).
ST. ELIAS MINES LTD.
(signed "Lori McClenahan")
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement
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