Anconia Resources Corp.
TSX VENTURE : ARA

August 04, 2011 14:57 ET

Anconia Resources Announces Commencement of Activities and Provides an Exploration Update on Its' Nunavut Properties

TORONTO, ONTARIO--(Marketwire - Aug. 4, 2011) - Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is pleased to announce that exploration activities have commenced on all four of the Company's wholly owned Nunavut properties and provide an update on activities at the four properties.

ZAC claims - In July 2011 a site visit was completed at the ZAC claims in order to obtain detailed ground information, and sample material, from historically identified showings. Samples were obtained in the field and have been sent for assay. In addition, an airborne geophysical program (GEOTEM and magnetics) has been carried out on this property and initial results are anticipated to be received shortly.

MARCE claims - A field visit was carried out at the same time as the ZAC claims, and the historically cited showing was located, as well as GPS pinpointed, and samples taken which have been sent for assay. This is important for the Marce claims because limited information is available on this property. In addition, an airborne geophysics survey (GEOTEM and magnetics) has been carried out over this property and initial results are anticipated to be received shortly.

The field visit to the ZAC and MARCE properties, which are located in close proximity to each other, also served to identify settings for potential camp and logistical solutions for a Fall 2011 field program, which is planned to consist of comprehensive mapping, trenching and sampling. This field work is planned to be carried out on both the ZAC and MARCE properties, based on information derived from the recently completed geophysics program and historical records.

ARNI claims - Initial exploration has been carried out on the newly staked Arni property, located near Baker Lake, Nunavut. Historic work on the Arni claims has demonstrated the presence of copper and nickel, in an ultramafic setting, which may be prospective for Platinum Group Elements (PGEs). A field visit was made by a Professional Geologist, and samples were taken. During this visit the geologist also discovered previously unknown soapstone occurrences, which are being extracted by hand by the local community. This is the right of the Inuit people and could impact operations on this property in the future.

RB claims - initial exploration has also been carried out on this newly staked property, located between the ZAC claims and the community of Rankin Inlet. This property was staked as a gold target and in the mid to late 1980's Noble Peak Exploration carried out activities on the property, which included identifying gold occurrences through grab sampling as previously press released. Prospecting completed in July 2011 also indicated base metal occurrences and as a result this property was added to the airborne geophysics survey (GEOTEM and magnetics). Samples were taken from this property for both gold and base metals testing, which have been sent for assay.

Mr. Brian H. Newton P.Geo, a Qualified Person pursuant to National Instrument 43-101, has reviewed and approved the technical disclosure in 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 four projects currently in its portfolio.

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.

Contact Information

  • Anconia Resources Corp.
    Jason Brewster
    President and CEO
    416-815-9777