Angkor Gold Drills 29.9 g/t Gold Over 0.54m in OY12-066D, Border Prospect, Cambodia

VANCOUVER, British Columbia, Aug. 13, 2012 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSX-V:ANK) ("ANGKOR") announced that the company has received assay results from a further 8 drill holes from this season's programs in Ratanakiri Province, Cambodia. Over this season, the company drilled 8815m in 66 holes spread over 7 prospect areas on their 5 tenements.

BORDER PROSPECT – OYADAO TENEMENT

Below are the latest results from 6 of the 31 holes (3185m) the company drilled this season on the 3 separate projects that comprise the Border Prospect.

*Note that as this is very early in the exploration history of the property, true thicknesses cannot be made with any degree of certainty. Hence all thicknesses quoted are intersection thicknesses, with no corrections applied. However, angle of intercept suggests that the intersection thickness is very close to true thickness.

In OY12-061D, the value of 19.38 g/t Au over 0.2 m at 59.65m derives from the mean of duplicate analysis (19.85 g/t and 18.90 g/t) of the same sample. The value of 20.72 g/t Au over 25cm at 60.15m in OY12-064D derives from the mean of triplicate analyses (21.80; 19.25; 21.10 g/t Au) of the same sample. The value of 29.94g/t over 0.54m at 76.79m in OY12-066D derives from triplicate analyses (34.5; 50.5; 40.0 mean 41.7 g/t Au over 0.21m and 22.5; 25.9; 19.1 mean 22,5 g/t Au over 0.33m) of adjacent samples.

This consistency suggests that the "nugget effect" is not likely to be a big factor in evaluating these veins. All these narrow high grade zones are sulphide rich sections of wider, shear bounded, quartz-carbonate veins.

With the exception of OY12-068 AND OY12-069, all these results come from the east end of Border North Prospect, where similar encouraging values were encountered in the first phase of the drill program earlier this season. The map below depicts the location of the holes.

To view this map, please visit http://orders.newsfilecorp.com/files/1494/2569_angkor4.jpg

Drilling this season has shown that there are at least 2 parallel veins in the Border North Prospect: the upper, which is dominant in the east, and the lower, which occurs in the west. They overlap somewhat, but appear to be en echelon, and a third vein seems to be manifest still further west, and deeper. Separation of the 2 veins, which are lenticular, is about 20m. The upper vein extends eastwards into Vietnam, and tails off to the west, after a strike of at least 200m. The lower vein has a strike length of about 160m and tails off both east and west. Both veins are open at depth. Artisanal workings as deep as 15m extend westwards at least 500m beyond the last values intersected in OY11-043D.

The values in OY12-068D and OY12-069D are of particular interest. The former hole was expected to show the last gasp of the Central vein as it tails off to the west. Instead it shows a sheared zone where the vein was predicted to be, and minor values. The latter hole, OY12-069D was not expected to have a vein, nor values; so the 19.38g/t Au over 0.65m at 59.10m came as a pleasant surprise, suggesting the vein continues beyond the shear, extending thereby known drilled strike from the previous 80m to 150m. The map below depicts the location of the holes.

To view this map, please visit http://orders.newsfilecorp.com/files/1494/2569_angkor5.jpg   

President and CEO Mike Weeks commented, "We are extremely pleased with the recent drilling results returned on our Border prospect. This program has advanced our knowledge of the mineralized structure, and expanded our understanding of the geology in this area. This location is very accessible, and close to a major highway and power."

It is now evident that the Border Prospects are merely a very small part of a series of discontinuous gold occurrences, anomalies and indications that form a huge arc over some 25km from the China Wall (quartz stockwork in granodiorite) open pit and Sesan North artisanal workings (quartz veins with gold values up to 6.5g/t), both on the recently acquired Andong Meas tenement in the northwest; through the 300m long Phum Puik termite mound anomaly; through the recently discovered Border West Vein system, where gold values of over 14 g/t occur in similar veins to those at Border; through the Border North and Central Veins; then following southeast along the 2.5km geochemical trend; and thence eventually to Ogama prospect. These systems all seem interrelated. Exploration continues, with a current ground magnetometer survey, into which will be integrated a SEM survey; coupled with a termite mound geochemical survey and detailed geological field mapping.

To view a map of the Border Prospects, please visit http://orders.newsfilecorp.com/files/1494/2569_angkor6.jpg

All drill holes in these programs used HQ series for the uppermost 25-40m, and thereafter used triple-tube wireline N series. All cores were oriented and saw-split before sampling. Cores are stored at the Company facility in the city of Banlung, Ratanakiri province. All analyses were done by ALS-Chemex in Vientiane, Laos for gold by single assay ton fire assay with an AA finish, and in Brisbane, Australia for base metals by ICP-MS following acid digestion. Company QA/QC protocol requires the insertion of some 20% of blank and standard samples on a randomized basis throughout the sample sequence. The protocol further requires that no sample interval be greater than 1.0 m or less than 0.25 m, unless there is a good geological reason to do otherwise. Higher grade samples are being analysed in duplicate and triplicate, with the arithmetic mean of all repeats being reported. These occasionally have shown ranges in values that exceed an order of magnitude from lowest to highest. Since these results were returned, a new protocol has been initiated, such that metallic sieve analysis is now standard practise where logging suggests that higher gold grades are to be expected.

Drill supervision and logging was all done by company geologists under the direction of Kurtis Dunstone, G.AIG, Exploration Manager for ANGKOR. Mr. Dunstone is a graduate of Latrobe University, Melbourne, and Universitet Götheborg, Sweden, with 10 years of experience in mineral exploration. He is stationed in Banlung, Cambodia.

The QP for this release, which he wrote and approved, is Adrian G. Mann, P.Geol., VP Exploration for ANGKOR. He is a graduate of London University and of the University of the Witwatersrand, with over 45 years world-wide experience in mineral exploration and mining geology. Dr. Mann lives in Calgary, Alberta.

ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. The company has 5 exploration licenses in the Kingdom of Cambodia covering a total of 1348 km² and 3 Memoranda of Understanding with the Ministry of Mines, Industry and Energy covering a further 1499 km². The company has been actively exploring these concessions over the past 3 years, and has now covered all 8 tenements with stream sediment geochemical sampling, has flown low level aeromagnetic surveys over much of the ground, drilled 17,556 metres of NQ core in 143 holes, of which 8,815m in 66 holes were drilled this season; and has collected in excess of 20,000 'C' zone soil samples in 8 centres of interest, over a combined area of 20km², in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.

FOR FURTHER INFORMATION PLEASE CONTACT:

ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 568-3801
Email: mailto:mw@angkorgold.ca">mw@angkorgold.ca

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