TORONTO, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to report the start of the Company’s 2021 exploration program with this initial diamond drilling campaign at the Peacock Prospect on its 100%-owned Koan Nheak license in Cambodia.
Highlights
- The Peacock prospect is gold in veins associated with a diorite, intruding near flat-lying clastic sedimentary rocks and will be explored with an initial 500-metres of diamond drilling testing an RC drill hole from 2019
- The RC drill intercept was eight metres of 3.61 g/t gold including one meter of 12.65 g/t gold. (Press Release)
- The geological setting is the same as Emerald Resources’ Okvau gold deposit to the south which hosts over one million ounces of gold as detailed on their web site (Click Here)
“Now that the seasonal rains have subsided, we can finally mobilize our 1st drill program of the season, and will begin with testing the Peacock prospect with a 500-metre diamond drill program,” stated Stephen Burega, CEO. “A 2019 RC drilling program at Koan Nheak included 15 drill holes – ten of which intersected zones of quartz breccia with sulphide mineralization. Each of these zones confirmed the existence of a gold mineralized system with the best intersection (8.0m @ 3.61 gpt Au including one meter of 12.65 g/t gold) being hosted by the diorite intrusive.”
“The planned drill program is geared towards determining the grade and size of the gold mineralized structure,” stated Dennis Ouellette, VP of Exploration. “Because the previous RC drilling did not provide the orientation of the mineralized structure, the first two holes will determine the orientation of the structure.”
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7dc4ce7c-c7fa-4cc9-b0ad-750887d17a3d
“The hole locations shown on the map are for planning purposes only. Once we know which direction the mineralized structure is heading and at what dip, the locations of subsequent drill holes will be modified,” Ouellette continued.
The Peacock prospect mineralization was observed to be hosted in a diorite intrusive of a similar style to the sulphide mineralization of Emerald Resources’ nearby Okvau Gold Deposit located approximately 53 kilometres southwest of Angkor’s Koan Nheak property. It has a published JORC-compliant Ore Reserve (Probable) estimate totalling 14.26 million tonnes grading 1.98 gpt gold for 907,000 contained ounces of gold. (Link to Emerald Resources)
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: 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 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.