Anconia Announces Drilling Results and Confirms a New VMS Discovery With Up to 11.93% Zinc Over 4 Metres and 3590 g/t Silver ...
10 Octubre 2012 - 8:27AM
Marketwired Canada
Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is
pleased to announce assay results from the first 8 holes of its summer drilling
program focused on the MARCE occurrence, which is being renamed ATLAS 1, part of
the newly renamed ATLAS project, located 200 km west of Rankin Inlet, Nunavut.
The drilling program began on August 7th and finished September 15th. It
consisted of 1790m of drilling in 12 holes varying in length from 93 to 223 m.
Preliminary results from the program confirm the discovery of a Volcanogenic
Massive Sulphide (VMS) system, containing zinc, lead, silver, gold and copper
mineralization. The sulfides are exposed in outcrop over a strike length of over
1.4 km, and the current drilling program established that they extend along this
strike length, and to at least 130m below surface.
The primary targets were conductors established by a VTEM airborne
electromagnetic survey. Some of these targets correspond to base metal
mineralization exposed in outcrop. Previously announced surface sampling (see
press release October 20, 2011) obtained up to 34.1% zinc (Zn), 10.6% copper
(Cu) and 2100g/t silver (Ag). Every drill hole encountered base metal sulfide
minerals, which occurred as stringers to semi-massive and massive zones.
In addition to testing the EM conductors and surface mineralization, the
drilling program was designed to test a large gravity anomaly which is
co-incident with the conductor and surface mineralization. While the drilling
did encounter base metal mineralization in all holes, the size and strength of
the gravity anomaly has not been adequately explained, indicating that the main
portion of a mineralized body may be at depth. Further to this, drilling
suggests that the body remains open along strike, particularly to the north
east.
The table below summarizes the significant assay intervals for the first 8
holes. Important points to note from this table are that for deeper samples both
widths and grade of mineralization increase, for example:
-- MRC-12-08 encountered 9.8m of 113 g/t Ag and 6.97% Zn, including 4m of
11.93% Zn;
-- MRC-12-05 encountered 9.1m of 77.3 g/t Ag and 4.44% Zn, including 4.5m
of 93.5 g/t Ag and 5.05% Zn;
-- MRC-12-04 (an undercut of hole MRC-12-03) which begins to demonstrate
elevated copper values and zonation which is typical of a VMS deposit,
as seen in the following zones; and
-- The upper zone of MRC-12-04 (52.0m to 62.4m) returned 8.4m of 1.59 g/t
Au, 152.9 g/t Ag, 1.10% Cu, and 1.06% Zn including 2.4m (58m - 60.4m) of
2.73 g/t Au, 317.3 g/t Ag, 2.22% Cu, and 3.05% Zn.
-- The lower zone of hole MRC-12-04 from 61.8m to 64.4m returned 2.4m of
8.16% Zn, indicting a deeper more zinc rich zone.
-- MRC-12-06 returned extremely high precious metal values for a VMS
deposit: 3.6m of 11.19 g/t Au, 1348 g/t Ag, 1.98% Pb, and 3.74% Zn,
including 1m of 35.9 g/t Au, 3590 g/t Ag, 2.51% Pb, and 0.34% Zn. This
may indicate a separate addition of precious metals, or local
remobilization.
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From To
Hole Number (m) (m) Width (m) Au ppm (g/t) Ag ppm (g/t) Cu % Pb % Zn %
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MRC-12-01 48.2 51 2.8 0.43 202.3 0.18 0.83 2.56
MRC-12-02 71.9 74.6 2.7 0.32 131.6 0.13 1.11 4.02
including 72.4 73.6 1.2 0.44 217.5 0.24 2.41 8.89
MRC-12-03 36.7 48 11.3 0.59 76.8 0.62 0.06 1.31
including 46 48 2 0.33 66.1 0.23 0.28 6.19
MRC-12-04 52 60.4 8.4 1.59 152.9 1.10 0.02 1.06
including 58 60.4 2.4 2.73 317.3 2.22 0.06 3.05
MRC-12-04 61.8 64.4 2.6 0.15 45.0 0.17 0.68 8.16
MRC-12-05 87.5 96.6 9.1 0.48 77.3 0.18 0.74 4.44
including 87.5 92 4.5 0.66 93.5 0.28 0.45 5.05
MRC-12-06 115.4 119 3.6 11.19 1348.0 0.17 1.98 3.74
including 115.4 116.4 1 35.90 3590.0 0.34 2.51 0.34
MRC-12-08 136.5 146.3 9.8 0.47 113.0 0.29 0.64 6.97
including 139 143 4 0.19 37.3 0.06 0.26 11.93
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Sample interval widths are shown as down the hole widths as opposed to true
widths.
Hole MRC-12-07 did not encounter any significant assay intervals, although
sulphide mineralization was present.
Dr. James Franklin, PhD, P.Geo, a director of the company and former chief
geoscientist of the Geological Survey of Canada had the following technical
comments. "The ATLAS 1 VMS occurrence is distinctly stratiform, with a highly
altered felsic footwall, several beds of laterally extensive massive and
stringer sulfides and a capping cherty exhalite that includes lean iron
formation. Massive sulfides have been observed semi-continuously over a strike
length of 500m (from MRC-12-01 to MRC-12-08), and to a depth of 200m (MRC-12-10,
results pending). The massive sulfide strata are overlain by unaltered mafic
volcanic strata. The ATLAS 1 occurrence most closely resembles deposits in the
Hackett River district, and shares some attributes with the Sturgeon Lake and
Bathurst camps. The massive sulfides occur as a sequence of bands, separated by
intervening volcaniclastic layers. As the core of the system is approached, the
sulfide layers thicken and coalesce (e.g. MRC-12-05), and the footwall copper
content increases, as does its stratigraphic depth extent. It has relatively
high Zn and Ag contents (over 10% of the assays contain greater than 128 g/t Ag
and 3.6% Zn) relative to most VMS deposits. ATLAS 1 has a distinctly manganese
(Mn) enriched footwall as well as Mn-enrichment in the exhalite, characteristics
of many volcaniclastic dominated camps. The footwall has a well-developed sodium
depletion zone, typical of all VMS camps. All of these are indications of a
major hydrothermal system, and provide the Anconia exploration team with
excellent vectors to potential deposits."
Mr. Jason Brewster, President and C.E.O. of Anconia Resources commented, "We are
extremely pleased with these drill results, which confirm that the ATLAS 1
occurrence (formerly called the MARCE) is an exciting VMS discovery. We are now
in the planning stage for a follow-up drill program in 2013 which will help
define the size and grade of this system, in addition to drill testing the ZAC
target and numerous other targets between ATLAS 1 and the ZAC, which is 22km to
the north east."
Sampling Protocol
The samples were selected in the field, cut and bagged, sealed with a security
seal and transferred by bonded courier to the facilities of Activation
Laboratories Ltd. in Thunder Bay where they were processed UT-5 INAA(INAAGEO) /
Total Digestion ICP/MS with the over limit results further tested by 8-4 Acid
ICP OES Assay.
Mr. Brian H. Newton, P. Geo, of Minroc Management Ltd., is a "Qualified Person"
pursuant to NI 43-101 and has reviewed and approved the contents of this press
release.
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.
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