TORONTO, ON, (March 31, 2020): Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO, Stephen Burega is pleased to announce field preparations are completed for the arrival of the geophysical crew from Austhai Geophysical Consultants for a planned Induced Polarization (IP) program over the Wild Boar prospect at the Andong Meas tenement. The primary targets are epithermal gold veins with the possibility of a large porphyry system below. The geophysical team will mobilize to site on April 5th.
Program Highlights
- The program will include14 line-kilometres of IP and is designed to detect structures to depths up to 500 metres;
- Drill targets will be identified by the IP program and an initial +1000 metre diamond drill program is planned;
- This follows a successful pitting program where angular free gold was found in over 40% of the test pits (80 pits) suggesting the gold is close to source;
- Northeast trending and southeast shallow dipping gold-bearing quartz veins in various widths (up to 0.5 metre) were mapped (See Press Release);
- Intensely silicified dacite were identified to the east of where high-grade gold-bearing quartz floats occurred extensively.
“The Wild Boar prospect is Angkor’s top priority target, and this IP program will assist us in further developing our understanding on this epithermal gold target and the potential of a large porphyry style system below,” stated Stephen Burega. “We continue to catalogue similarities to other regional systems.”
The ground geophysical survey follows the completion of phase one of the pitting and grid mapping program. Initial results included pan concentration that illustrates free gold in over 40% of the 80 pits. Further samples were sent for assay and results are pending. Drill targets will be identified by the IP program and an initial +1000 metre drill program will follow.
“The IP survey will show the highly resistive silicification of the quartz veins and silicified wallrock (dacite) and is intended to trace the presence of disseminated sulfide (pyrite) halos associated with the gold-bearing quartz vein systems and other highly conductive elements in the prospect area,” stated Dennis Ouellette, VP of Explorations. “The closely-spaced survey design is geared towards detection of narrow and shallow mineralization.”
The ground geophysical survey is designed to detect structural detail to depths up to 250 metres and will be comprised of a total of seventeen E-W lines, for a cumulative length of 14 kilometer of closely spaced pole-dipole readings at 20-metre dipoles to get an effective 10 metre spacing along the lines.
The lines will be spaced 100 metres apart covering the recently mapped quartz veins, altered dacite and silicified rocks along with areas of extensive shallow alluvial gold mining and to lesser extent, artisanal hard rock mining in the area.
In addition to the close spaced pole-dipole survey, an additional IP survey over extended lines in the center of the grid will be completed. This additional survey will be set up for a 3D array with 3 receiver lines either side of a central transmitter line allowing a transmitter overshoot of 300 metre either side and to a depth of 500 metres.
Crews from Angkor and the local villages have been cutting lines on the east-west grid in preparation for the survey. Over a dozen local contractors from the area villages were involved in the work program as part of community training and engagement on mineral exploration. Activities include cutting lines, preparing the survey sites, assisting with equipment moves between survey lines, and providing security.
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, the 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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