SEXSMITH, Alberta, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Angkor Gold Corp. (TSXV:ANK) (OTC:ANKOF) (“Angkor” or “the Company”) Executive Chairman Mike Weeks is pleased to announce the continuation of Angkor’s exploration program at Halo on its Oyadao South license in conjunction with its exploration partner, Japan Oil, Gas and Metals National Corporation (“JOGMEC”).
Drilling follows the Phase 1 exploration program completed at the end of 2017 and is part of a USD $1 million follow-up program begun in January.
“The first new drill hole, HAL18-005D, will test the continuity of the primary copper porphyry mineralization intercepted in HAL17-001D last year,” said Angkor President JP Dau. “Porphyry copper systems can be very complicated. Each new diamond drill hole is immensely useful in helping us to understand this particular system.”
Two additional drill holes will test new targets defined by soil geochemistry and geophysics using induced polarization (IP) to the east and southeast of previous drilling locations.
The Phase 2 exploration program includes:
- USD $1 million in planned expenditures.
- 1,200 metres of drilling.
- Extension of IP geophysics survey to new areas.
- Additional regional exploration, including termite mound soil sampling programs over magnetic anomalies east and west of Halo, and geological mapping.
The first new drill hole will step out 400 metres from an intercept of 0.24% Cu, 1.34 g/t Ag, as well as 0.026% Mo over 88.9m in previously reported drill hole HAL17-001D (see Company press release of October 19, 2017).
The new exploration program is expected to be completed before the end of March 2018.
A map of Halo Drill Hole Locations (existing and planned) accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fc10006a-ea31-45ac-9902-8d6a635a5466
ABOUT JOGMEC
JOGMEC was established in February 2004, following the integration of the former Japan National Oil Corporation and Metal Mining Agency of Japan. It is an Independent Administrative Agency under the Japanese Ministry of Economy, Trade and Industry, with a mandate of investing in exploration minerals projects worldwide to help secure a stable supply of natural resources for Japanese industry.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is a leading mineral explorer in Cambodia, with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
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 and has reviewed and approved the technical disclosure in this document.
On behalf of the Board,
Mike Weeks
Executive Chairman
Angkor Gold Corp.
CONTACT:
Stephen Burega, CEO
Telephone: (647) 515-3734
Email: sb@angkorgold.ca
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 of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.