TORONTO, ON, (March 23, 2020): Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to report that it’s recent exploration program on it’s 100% owned Wild Boar Gold Prospect continues to return positive results and demonstrates the prospective of Wild Boar as an epithermal gold system. The Company completed 80 test pits (see Figure below), and surface mapping at Wild Boar (WB) on its Andong Meas licence with many of the test pits containing angular gold grains and mapping identifying areas with multiple quartz veins.
Highlights Of Recent Program
- Angular free gold in over 40% of the test pits suggesting the gold is close to source;
- Eighty (80) test pits were completed on six (6) lines on the northern portion of the WB prospect;
- Northeast trending and southeast shallow dipping quartz veins up to 0.50 metres in width were mapped in test pits;
- The proposed next phase of work will consist of a 10 line-kilometer Induced-Polarization (IP) survey in April;
- Based on results of the recently completed program and the upcoming IP survey, Angkor will plan a diamond drill program of approximately 1,000 metres.
The geophysical/geochemical programs and results to date suggest that the WB target is an epithermal gold occurrence related to the Canada Wall (CW) copper/molybdenum/gold porphyry center 3.5 kilometres to the west. Both are within the same intrusive complex with CW in the north-center and WB on the eastern flank.
“This is consistent with recent work which shows that eastern Cambodia was subjected to two separate mountain building tectonic events resulting in two separate intrusive rock forming events both of which are conducive to porphyry copper-gold-molybdenum and associated epithermal gold formation,” stated Dennis Ouellette, VP of Exploration.
Stephen Burega, CEO, commented: “Angkor holds several exploration licenses with the potential to host copper porphyry occurrences, epithermal gold deposits, and related skarns and we believe that the Andong Meas license shows potential for all three.”
The next phase of Angkor’s work program will consist of a 10 line-kilometer Induced-Polarization (IP) survey in April. Compilation and interpretation of all data collected will then inform the Company on targeting an approximately 1,000 metre preliminary diamond drill program.
Test Pit Program
Eighty (80) test pits were completed on six lines on the northern portion of the Wild Boar prospect. It is very encouraging to note that 45% of the pits returned up to 15 gold grains with fine to medium grain sizes. The angular nature of some of the grains suggest a nearby source. The samples from the pits consisted of saprolite and weathered bedrock. Each sample was pan concentrated to determine the gold content. Most of the pits with gold also contained quartz vein material.
Several northeast trending and southeast shallow dipping quartz veins of up to 0.50 metres in width were uncovered from the test pits. Quartz veins exhibit massive to comb textures typical of an epithermal environment. These vein samples along with the weathered bedrock on each test pit have been submitted for gold and multi-element geochemistry.
Each line was spaced at 20 meters and the test pits at 10 meters. Test pits show alluvium/colluvium cover of up to 80 centimeters thick which is more likely the reason for the non-detection of geochemical signatures from previous soil sampling program amidst a number of gold-anomalous rock float samples discovered in the area.
The Wild Boar Prospect is located in the southeast area of the 100%-owned Andong Meas license, and portions of the area have seen intensive artisanal workings on several subparallel epithermal veins.
QUALIFIED PERSON
Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). He is the Company’s VP Exploration on site and has reviewed and approved the technical disclosure in this document.
ABOUT ANGKOR RESOURCES CORP.
Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading mineral explorer in Cambodia with a large land package across four 100%-owned licenses and a fifth license under an earn-in agreement with a third party. In 2019, the company received approval to negotiate Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.
CONTACT:
Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: [email protected]
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.
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.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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