TORONTO, June 05, 2019 (GLOBE NEWSWIRE) -- Angkor Gold Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega announced today the expansion of the drill and exploration program on its Banlung license.
Under the Company’s Earn-In Agreement with Hommy 5 Resources (see Company press release of September 19, 2018), the expanded program has ten diamond drill holes totalling approximately 1100 metres of HQ3 large diameter core drilling planned to test several targets identified in last year’s shallow RC drilling program.
A corridor containing a potentially gold hosting fault zone approximately 400 metres wide (east-west) and 1,200 metres long (north-south) was defined by previous exploration. The corridor is open to the north and south. Within the corridor Angkor has identified multiple gold mineralized structures. The new diamond drill program will help to determine the extent of these mineralized structures as well as their orientation.
“Last year’s reconnaissance shallow drill program confirmed the existence of a mineralized gold vein system over a large area,” said Dennis Ouellette, Angkor’s VP Exploration. “Follow-up deeper HQ drilling is anticipated to determine the extent and strength of gold veins at depth and help us understand the source of the mineralization.”
The 2018 shallow drilling was intended to test and map near surface mineralization and better understand underlying structures. The drilling targeted gold-in-soil anomalies previously outlined by previous termite mound sampling and further defined by auger sampling in 2016 and 2017 at the Okalla West prospect on the Banlung license.
The RC drilling intercepted many one to greater than 5 metre zones of fractured bedrock with pyrite and some base metal sulphide mineralization with low grades of gold mineralization above the bedrock.
Near vertical AC holes through overburden were as short as 5 metres and some almost 30 metres in depth but averaged 10 metres in depth. The AC holes were very useful for determining underlying bedrock but tested only a few centimetres of the bedrock. RC holes were drilled at an incline of 60 degrees with target depths of 60 metres.
The drilling was completed on widely spaced lines covering several large target areas, namely Okalla South, Okalla North, and Copper Hill. Other undefined areas with anomalous in-soil gold and base metal values of no known provenance were also tested.
The next stage of drilling at Okalla is expected to commence in June.
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 release.
On behalf of the Board,
Stephen Burega
CEO, 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.