TORONTO, ONTARIO -- (Marketwired) -- 08/29/13 -- Anconia Resources Corp. (TSX VENTURE: ARA) ("Anconia" or the "Company") is pleased to announce that drilling has begun on its ATLAS group of claims (the "ATLAS Group") located in the Nunavut Territory of Canada, which contains the ATLAS-1 discovery made last year, as well as the ZAC occurrence and the Silty Lake geophysical anomaly.
The Company has commenced a planned drilling program of up to 2000 metres (weather and conditions dependent), on the three above mentioned targets within the ATLAS Group of claims. Drilling will focus on expansion of the known mineralization at the ATLAS-1 discovery, as well as initial testing of both the Silty Lake anomaly and a large gravity feature at the ZAC occurrence (approximately 20 km northeast of ATLAS-1). The ATLAS-1 discovery, which was first drilled in 2012, is a stratiform VMS deposit with drilled intersections of 9.8m of 0.47 g/t Au, 113.0 g/t Ag, 0.29% Cu, 0.64% Pb, and 6.97% Zn; in hole MRC-12-08 and 8.4m of 1.59 g/t Au, 152.9 g/t Ag, 1.1% Cu, 0.02% Pb and 1.06% Zn in hole MRC 12-04, (see press release dated October 30, 2012 for more information) with an associated but distinct secondary system which has high precious metal content 11.7 g/t Au, and 1364 g/t Ag over 3.6m, including 1m of 35.9 g/t Au and 3590 g/t Ag (see press release dated March 22, 2013 for more information).
The Silty Lake anomaly and the ZAC occurrence represent geophysical targets, which the Company has not yet drill tested. In the case of ZAC there is a gravity anomaly with a strike length of at least 2.1km (open along strike) with associated electromagnetic conductors and a surface base metal expression. The Silty Lake anomaly is a moderately strong electromagnetic conductor with a strike length in excess of 4km, which may represent an offset continuation of the ATLAS-1 discovery.
Mr. Jason Brewster, President and C.E.O. of Anconia commented "It is exciting to be getting back into the field and get the drill turning again. We have been looking forward to drilling both the ZAC and the Silty Lake anomalies. Both of these targets have enormous potential based on their size, and what we know is in the area at ATLAS-1. Additionally, we should be able to greatly expand what we know about the ATLAS-1 discovery with this drill program".
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.
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.
President and CEO
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