Angkor Gold announces drilling commencement on Border Gold Prospect, Cambodia
- Diamond drilling commences on the Border gold prospect,Oyadao tenement, Cambodia
- Contract awarded to locally owned and operated drilling company
- Over 20 holes programmed for this prospect
VANCOUVER, BC (November 21, 2011)
ANGKOR GOLD CORP. (TSXV: ANK) (“ANGKOR”) is pleased to announce that a contract to drill a minimum of 15 short (50m each) and 7 longer (100-150m) (1550m total) diamond drill holes in the Border Prospect on Oyadao tenement, Ratanakiri Province, Cambodia, has been awarded to Veriak Drilling, a Cambodian owned and operated contractor. The rig is on site and drilling of OY11-039 commenced on 18 November, 2011.
Mike Weeks, Angkor‟s President and CEO states, “We are thrilled to be moving forward with our Border prospect and building upon the results of the extensive exploration work we have completed at this prospect over the past two years. This drill program ties in with Angkor‟s philosophy of putting as much money as possible into the ground, employing local businesses, and advancing several of our outstanding Cambodian gold projects simultaneously.”
The drill program is aimed primarily at the North Vein, where extensive open workings by illegal artisanal miners have exposed a robust quartz vein system over a continuous strike length well in excess of 500m. These workings extend down vertically at least 35m in places, and grab samples recorded gold values up to 14.8g/t Au. Other more westerly workings on a related feature add at least another 500m extension to the North Vein. Historical records show only 5 diamond drill holes by Liberty Mining International targeted it at roughly 200m intervals along strike, but there are favourable intersections: 6.0m at 0.83 g/t Au in OY0013RD; and 3.0m at 43.3 g/t Ag (including 277 g/t Ag over 0.75m) in OY0014RD. The log for OY0008RD records visible gold, but assayed only 1.6 g/t Au over 0.8m. OY0006RD showed no precious metals, but did return 1.8% Zn over 1.8m from the same apparent zone as the high silver in OY0014RD.
A further 5 holes, each to 100m (500m total) will probe new targets outlined by the soil geochemistry survey completed last season. The Border prospect has been a major focus of the company‟s exploration work over the past 2 years, where an intensive „C‟ zone geochemical soil survey covered an area of some 2.5km x 3.0km. Lines were cut both east-west and north-south at 100m spacing, and auger sampled at 20m intervals from depths ranging from 1.5 to 3.2m.
Two of the areas of concentration of gold in the soils are no surprise, and their orientation is entirely as one would expect. The first is an east-west linear, covering roughly 600m which reflects the North Vein of the prospect. The Central Vein system is manifest in a bull‟s-eye gold anomaly that extends southwest for 320m. North vein is picked out poorly by the bismuth distribution, but Central vein is beautifully outlined by bismuth, lead and silver. However, the outstanding feature of gold distribution is strong linearity covering more than 1500m along direction 130o, repeated weakly by silver and copper, and particularly well by lead and zinc.
A most compelling feature of the soil geochemistry is the coincidence of a strong copper bull‟s-eye in the south that repeats for silver; arsenic; molybdenum; lead and zinc.
Recently some new outcrops have been uncovered on the Central Vein on which we had some success in our 2009 and 2010 drill programs. Some 300m of follow-up drilling in 2 holes will target this area.
All cores will be saw-split before sampling. Cores will be stored at the Company facility in the city of Banlung, Ratanakiri province. All analyses will be done by a reputable internationally recognized laboratory. In the past, Angkor has used ALS-Chemex in Vientiene, Laos for gold by single assay ton fire assay with an AA finish, and in Brisbane, Australia for base metals by ICP-MS following acid digestion. Higher value results will be analysed in duplicate. Company QA/QC protocol requires the insertion of some 20% of blank and standard samples on a randomized basis throughout the sample sequence.The protocol further requires that no sample interval be greater than 1.0m or less than 0.5m.
The QP for this release is Adrian G. Mann, P.Geol., VP Exploration for ANGKOR. He is a graduate of London University and of the University of the Witwatersrand, with over 40 years world-wide experience in mineral exploration and mining geology. Dr. Mann lives in Calgary, Alberta.
ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. The company has 4 exploration licenses in the Kingdom of Cambodia covering a total of 1167 km2 and 3 Memoranda of Understanding with the Ministry of Mines, Industry and Energy covering a further 1499 km2. The company has been actively exploring these concessions over the past 21/2 years, and has covered all 4 licenses with stream sediment geochemical sampling, has flown low level aeromagnetic surveys over most of this ground, drilled some 8781 metres of NQ core in 76 holes, and has collected in excess of 12,500 „C‟ zone soil samples in 6 centres of interest, over a combined area of 12km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 518-0326
Email: [email protected]
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