Anconia Reports Gold Values from its RB Gold Project in Nunavut
27 September 2011 - 10:25PM
Marketwired
Anconia Resources Corp. (TSX VENTURE: ARA) ("Anconia" or the
"Company") is pleased to provide the following assay results
recently received from a reconnaissance program at its RB gold
project, located in Nunavut Territory, Canada approximately 125
kilometres southwest of the town of Rankin Inlet.
Highlights include:
Sample # 19619: 144.0g/t Au Sample # 19638: 37.9g/t Au
Sample # 19626: 101.0g/t Au Sample # 19640: 34.2g/t Au
Sample # 19634: 49.2g/t Au Sample # 19662: 36.1g/t Au
The RB project consists of 4 claims which Anconia recently
staked totalling 41.8 square kilometres, located approximately 65
kilometres east of the Marce project, the Company's high grade
polymetallic project which has associated gold and high grade
silver values.
In July of this year, a total of 73 surface samples were
collected from mineralised structures within the Company's RB claim
area and 36% of those samples (26 samples in total) reported gold
values exceeding 2.0g/t. An apparent strong north-east/south-west
trending, high grade (samples of +20g/t Au) zone of mineralisation
was identified over a length of approximately 1,000 metres - see
accompanying map.
The Chairman of the Company, Peter Miller MIMMM, and two
technical advisors, Neil Novak P.Geo, and Norman Brewster P.Geo
made the following observations during a subsequent site visit in
mid September this year:
1. The RB claims host numerous low sulphide, quartz veins and shear zones
varying from a few centimetres up to 20 metres in thickness;
2. The best gold mineralisation appears to be located in structures found
in low angle splays off two rectangular shaped lakes, approximately
1,000 metres apart;
3. The mineralisation was unusually well exposed in outcrop; and
4. No visible gold was encountered in any of the samples or during the
property visit.
Principal Grab Sample Assay Results
Sample Gold Silver Copper Zinc
Number Au ppm Ag ppm Cu % Zn %
19616 2.18 1.84 0.14% 0.01%
19617 7.61 0.91 0.21% Trace
19619 144.00 9.88 0.16% 0.12%
19620 7.22 0.36 0.06% 0.02%
19624 27.20 1.16 0.31% Trace
19625 7.84 1.82 0.18% 0.01%
19626 101.00 3.01 0.69% 0.01%
19629 19.20 2.11 0.13% 1.65%
19633 5.54 0.25 0.02% 0.45%
19634 49.20 6.82 0.11% 5.89%
19635 26.60 3.73 0.15% 6.83%
19638 37.90 65.7 2.05% 0.04%
19639 5.25 34.6 1.43% 0.03%
19640 34.20 45.4 2.94% 0.10%
19652 3.60 0.58 0.20% 0.04%
19653 7.13 1.17 0.17% 0.27%
19655 8.97 0.64 0.10% 0.23%
19656 3.60 3.39 0.04% 0.06%
19657 6.79 0.91 0.17% 0.07%
19658 5.45 0.90 0.06% Trace
19660 20.10 1.09 0.13% 1.83%
19661 2.87 0.99 0.14% 0.97%
19662 36.10 5.66 1.14% 3.15%
19663 34.80 7.68 0.34% 4.52%
19664 1.15 0.18 0.04% 0.01%
19665 8.19 0.65 0.06% 0.01%
19678 10.8 3.09 0.03% 1.20%
To view the map of the RB Claims Area and Sample Sites, please
visit the following link:
http://media3.marketwire.com/docs/rbclaim.pdf
Summary
Jason Brewster, President and CEO of Anconia commented: "These
results have exceeded our earlier expectations and it is clear from
the amount of mineralised outcrop that we may be looking at a
large, robust gold system. The Company has determined there is
sufficient evidence to indicate the presence of a potentially
economic gold system in its RB project and, consequently, we have
commenced planning for an expanded work program on these claims in
summer 2012".
Sample QA/QC
A total of 73 rock samples were submitted to Actlabs
Laboratories in Thunder Bay, Ontario ("Actlabs") for INAA
multi-element analysis, XRF Whole Rock Analysis, Aqua Regia ICP /
MS analysis and Au by Fire Assay with Au over limits by Fire Assay
Gravimetric. Fresh rock samples from surface outcrop were taken in
areas of visible sulphide mineralization and other outcrops deemed
favourable as host to mineralization. The samples were bagged,
tagged and sealed in the field. Samples were shipped from Rankin
Inlet to Actlabs via a combination of secure air carrier and bonded
ground transport to Thunder Bay. Sample shipments consisted of 6 to
8 samples placed in rice bags which were secured using a
combination of zip ties and numbered security seals to ensure
maintenance of COC protocols from the moment the samples were
dropped at the airport to arrival at Actlabs.
Mr. Brian H Newton P.Geo of Minroc Management Services Inc. and
a "qualified person" pursuant to National Instrument 43-101, has
reviewed and approved the technical disclosure 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 within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information within the meaning of
applicable Canadian securities laws including with respect to the
presence of a potentially economic gold system in the RB claims.
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; competition; operating
performance of facilities; 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.
Neither 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.
Contacts: Anconia Resources Corp. Jason Brewster President and
CEO 416-815-9777
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