Anconia Resources Confirms Secondary Native Gold and Silver Mineralization at ATLAS-1 Base Metal Discovery
22 Março 2013 - 10:07AM
Marketwired Canada
Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") has
confirmed that the recently reported, unusually elevated gold and silver
mineralization, (see table 1 below) encountered at the Company's Atlas-1
Zn-Cu-Ag VMS discovery in the Kivalliq region of Nunavut, represents an entirely
separate precious metals mineralized system, in one instance superimposed on the
VMS mineralized system. The results, seen below, contain gold and silver values
that exceed typical contents of VMS deposits (typical Canadian Shield-type VMS
deposits contain 0.81 g/t Au and 21.14 g/t Ag; (Franklin et al., 2005)).
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Au g/t Ag g/t
(weighted (weighted
Hole From To Core Length average) average)
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MRC-12-04 54 60.4 6.4 1.83 177
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MRC-12-06 115.4 119 3.6 11.7 1364
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MRC-12-11 184.2 191.6 11 3.1 272
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Table 1: Weighted average content of high silver and gold intercepts, Atlas
drill holes: Note that these are core lengths; true widths may be less.
The gold and silver values from these intervals (Table 1) while unusually
elevated for a VMS type deposit, are not visually obvious and are contained in
altered wall rocks adjacent to barren, narrow (typically 20cm) quartz veins.
This prompted Anconia to commission Dr. Ingrid Kjarsgaard to undertake a through
mineralogical investigation of selected samples (Table 2) in order to determine
the mineral inventory through microscopic analysis of polished thin section
samples. The results of Dr. Kjarsgaard's work show that the principal minerals
containing the gold and silver are native gold and native silver, as well as
acanthite (a silver-sulfide), allargentum (a silver antimony mineral), and
electrum (5.8% Au). Additionally the silver contains about 10% Au and 2.7% Sb.
Structurally two of the zones are slightly separated from the VMS mineralization
(MRC 12-06 and-11) and one zone is at least partially superimposed on the base
metal rich material (MRC 12-04). This is notable because the mineral assemblage
is not typical of most massive sulfide deposits, and has been concluded to
represent a second type of mineralization.
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Drill hole From (m) To (m) Au g/t Ag g/t Pb % Zn % Cu %
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MRC-12-04 (sulfide
zone) 59.3 59.5 14.6 1210 0.03 3.28 10.0
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MRC-12-06 (silver-
gold zone) 115.4 116.4 35.9 3590 2.51 0.33 0.33
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MRC-12-11 (silver-
gold zone) 188.4 189.4 8.25 329 1.07 7.45 1.73
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MRC-12-11 (silver-
gold zone) 189.4 190.4 11.6 515 0.66 3.37 0.86
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Table 2: Assay data for the samples used for the mineralogical study. Sample
from MRC-12-04 is typical VMS-style base metal-rich mineralization; the
others are adjacent to quartz veins.
Mr. Jason Brewster, President and C.E.O. of Anconia commented, "These results
are obviously very exciting for Anconia, not only is there a new VMS discovery
at ATLAS-1, but now we have further evidence that there is a second precious
metal system containing both native silver and native gold in the same location.
We are currently in the process of doing additional work on the core to further
define this system prior to our upcoming field season."
These metal contents are of obvious economic interest, and Anconia is reviewing
its core for any additional intercepts. In addition, one zone of secondary
mineralization outcrops at surface. Anconia will undertake additional mapping
during the next field season, having identified the nature of the second
mineralized zone. Anconia will seek to establish the extent of the secondary
zone and explore for the presence of additional similar high-grade zones. Also
planned for the 2013 exploration season will be the further testing at depth and
along strike of the mineralization identified in eleven out of the twelve holes
drilled last summer. These results were previously reported to contain elevated
zinc, silver and copper mineralization. These targets will be further tested to
determine more accurately the size and economic potential of the zone. Within
Anconia's large property, several other mineralized zones have been noted but
inadequately prospected. We are planning a robust program to examine all of
these aspects.
Mr. Brian H. Newton, P.Geo, of Minroc Management Inc. and a "qualified person"
pursuant to NI 43-101 has reviewed and approved the technical information in
this press release on behalf of the Company.
About Anconia
Anconia is a base and precious metals exploration and development company, which
is focused on providing shareholder value through the advancement of its
properties in the Nunavut Territory, Canada. Anconia is undertaking a
comprehensive exploration program to determine the potential of the projects
currently in its portfolio.
Forward-Looking Information
This news release contains forward-looking statements and information under
applicable securities laws, including with respect to Anconia's planned
exploration program in 2013. Words such as "may", "will", "should",
"anticipate", "plan", "expect", "believe", "estimate" and similar terminology
are used to identify forward-looking statements and forward-looking information.
Such statements and information are based on assumptions, estimates, opinions
and analysis made by management of Anconia in light of its experience, current
conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and
information involve known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from those expressed or
implied in the forward-looking statements and information. Risks and
uncertainties that may cause actual results to vary include but are not limited
to: the speculative nature of mineral exploration and development, including the
uncertainty of mineral reserve and resource estimates; uncertainties relating to
the availability and costs of financing needed to complete exploration
activities; exploration costs varying significantly from estimates; delays in
the exploration and development of, and/or commercial production from, the
properties in which Anconia has an interest; unexpected geological or
hydrological conditions; operational and technical difficulties; fluctuations in
commodity prices; the existence of undetected or unregistered interests or
claims, whether in contract or in tort, over the property of Anconia; success of
future exploration and development initiatives; environmental and safety risks,
including increased regulatory burdens, seismic activity, weather and other
natural phenomena; inability to, or delays in, obtaining necessary permits and
approvals from government authorities; risks relating to labour; and other
exploration, development and operating risks; changes to and compliance with
applicable laws and regulations, including environmental laws and obtaining
requisite permits; as well as other risks and uncertainties which are more fully
described in Anconia's annual and quarterly Management's Discussion and Analysis
and in other filings made by Anconia with Canadian securities regulatory
authorities and available at www.sedar.com.
Forward-looking information speaks only as of the date on which it is provided
and, except as may be required by applicable securities laws, Anconia disclaims
any intent or obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise. Although
Anconia believes that the assumptions inherent in the forward-looking
information are reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put on such
information due to the inherent uncertainty therein.
Franklin, J. M., Gibson, H. G., Jonasson, I. R., Galley, A. G. 2005,
Volcanogenic Massive Sulfide Deposits: Economic Geology, v. 100th Anniversary
Volume, p. 523-559.
FOR FURTHER INFORMATION PLEASE CONTACT:
Anconia Resources Corp.
Jason Brewster
President and C.E.O.
416-815-9777
Anconia Resources (TSXV:ARA)
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