Angkor Gold announces preliminary stream sediment results on Koan Nheak
- Preliminary stream sediment exploration shows two gold targets on Koan Nheak Property.
- Gold, and pathfinder elements associated with an intrusive diorite stock.
VANCOUVER, BC (November 2, 2011)
ANGKOR GOLD CORP. (TSXV: ANK) announced today that analytical results of 368 stream sediment geochemical survey samples have been received from 172 catchments on the Koan Nheak Property, Mondulkiri Province, which is held under a Memorandum of Understanding with the Ministry of Industry, Mines and Energy dated 26 January 2011. Apart from anomalous gold values, there are also weak arsenic, cadmium, copper, lead and antimony highs in streams draining towards the west from the diorite feature. These elements are commonly associated with epithermal and hydrothermal gold deposits, and their presence reinforces the view that this diorite is an excellent target for further exploration.
The accompanying map depicts the gold in stream sediments, superimposed on the satellite imagery for the Property. The spatial distribution of the highs and the coincidence of concentrations of related pathfinder elements (arsenic, cadmium, copper, lead and antimony) from streams with catchments surrounding a prominent hill feature in the central north of the project area are corroborated by concentration of gold counts in pan concentrates in the same streams. The geochemical results are of the <80 mesh fraction of the stream sediments, analysed for gold by SFA and by ICP-MS for 50 other elements. The hill feature, which is clearly visible on satellite images of the tenement, had been mapped as a diorite intrusive stock by BRGM, the French government geological survey, between 1966 and 1970 on a 1:200,000 scale; and confirmed as a Cretaceous diorite stock with a surrounding hornfelsic aureole in mapping by the Russian government in 1991 on a 1:500,000 scale. This work focuses attention on the diorite as an exploration target.
Satellite images also show a ring structure of about 2km diameter in the northeast of the Property, not recorded by the BRGM mapping, but picked up as a Cretaceous intrusive diorite by the Russians. Gold shows a high in both the visual count of the pan concentrates and in the assayed fraction, and there are strong arsenic, bismuth, tellurium, cadmium, antimony, molybdenum and tungsten anomalies in streams draining the ring structure. This definitely is another target for further exploration.
A coincident arsenic-antimony anomaly in the central southeast occurs within Jurassic
sedimentary rocks. This is a target of secondary priority.
The QP for this release, which he wrote and approved, is Adrian G. Mann, P. Geol., VP Exploration for ANGKOR GOLD CORP.. 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 1115 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 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]
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and completion of the Corporation’s financings and related information. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations and assumptions made by the Corporation. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, Cambodia, the United States and globally; industry conditions, including fluctuations in the prices of gold and other base metals; governmental regulation of the mining industry in both Canada and Cambodia, including environmental regulation; unanticipated operating events or performance which can reduce production or cause production to be delayed; failure to obtain industry partner and other third party consents and approvals, if and when required; competition for and/or inability to retain mining equipment and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in mining operations; competition for, among other things, capital, undeveloped lands, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, drilling, processing and transportation problems; changes in tax laws and incentive programs relating to the mining industry; failure to realize the anticipated benefits of acquisitions and dispositions; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.Neither the TSX Venture nor its regulation services provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this press release.
Category: Press Release