The mining newspaper for Alaska and Canada's North
ARA: TSX-V
Interim Chairman, President
and CEO: Jason Brewster
Chief Financial Officer:
Harvey McKenzie
Lead Director: Denis Clement
Anconia Resources Corp. followed up earlier exploration in 2013 on its Atlas Group of claims located about 170 kilometers (105.4 miles), south of Baker Lake in the Kivalliq region of Nunavut.
The Atlas properties, formerly known as the Zac and Marce properties, cover about 35.4 square kilometers (13.7 square miles) and host the Atlas-1 discovery made in 2012 as well as the Zac occurrence and the Silty Lake geophysical anomaly.
Atlas-1 is a stratiform volcanogenic massive sulphide deposit with drilled intersections of 9.8 meters of 0.47 grams per metric ton gold, 113 g/t silver, 0.29 percent copper, 0.64 percent lead and 6.97 percent zinc in hole MRC 12-08, and 8.4 meters of 1.50 g/t gold, 152.9 g/t silver, 1.1 percent copper, 0.02 percent lead and 1.06 percent zinc in hole MRC 12-04.
The deposit also boasts an associated but distinct secondary system that has high precious metal content averaging 11.7 g/t gold and 1,364 g/t silver over 3.6 meters, including one meter of 35.9 g/t gold and 3,590 g/t silver.
Exploration expenses in Nunavut for the nine months ended June 30, 2013 totaled C$415,493.
In August, Anconia began a drilling program of up to 2,000 meters (weather and conditions dependent) on the three targets.
The drilling was focused on expansion of 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 located about 20 kilometers (12.4 miles) northeast of Atlas-1.
Both Zac and the silty Lake anomalies are believed to have enormous potential based on their size, and results of past exploration.
Cash and short-term deposits: C$358,390 (June 30, 2013)
Working capital: C$326,529 (June 30, 2013; raised C$1.4 million in financing by Sept. 5, 2013)
Market capitalization: C$5.65 million (Sept. 13, 2013)
200 - 65 Front Street East
Toronto, Ont. Canada M5E 1B5
Tel: 416-815-9777
Fax: 416-815-1355
Reader Comments(0)