TORONTO, ONTARIO--(Marketwire - Aug. 7, 2012) - Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is pleased to announce that drilling has begun on its MARCE Occurrence ("MARCE" or the "MARCE Property") located in the Nunavut Territory of Canada.
The company has commenced a drilling program of up to 1500 metres, on the MARCE Occurrence, a VMS target that has a surface expression in the form of frost heaved subcrop, which is co-incident with a 1.3 km geophysical signature consisting of Magnetics, Electromagnetics, and Gravity. In August and September of 2011 Anconia conducted a surface sampling program over the MARCE Occurrence, which returned the following values, 0.02 - 34.14% Zn, 0 - 19.2 g/t Au, 0.6 - 2100 g/t Ag, and 0.01 - 10.6% Cu, from a total of 43 samples (see press release dated October 20th 2011). The samples are all taken from the conductor #5 on the MARCE Occurrence (see press release dated July 13th 2012 for more details), which is sub- parallel to a magnetically indicated Iron Formation. It is important to note that recent ground geophysics work has demonstrated that the gravity anomaly is associated with the conductor as opposed to the Iron Formation. The planned drill program will test the extent of the MARCE Occurrence and conductor to depth and along strike. The Company will provide updates as they become available.
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.