Angkor Resources is looking to follow in Emerald Resources footsteps of gold explorer to near term producer in Cambodia

Angkor Resources Corp. (TSXV: ANK) (‘Angkor’) is currently focused on exploring their Peacock and Wild Boar gold prospects in Cambodia. Peacock has drilled 3.61 g/t gold over 8 metres and Wild Boar has previously returned up to 70.7 g/t gold from selected samples. It may be early days, but the potential for a near term new gold discovery is building. Emerald Resources has proven it is possible to find and soon produce gold with their 907,000 ounce gold project just 53 kilometres away from the Koan Nheak license (Peacock prospect).

Angkor Resources’ 100% owned Koan Nheak license (Peacock prospect) and 100% owned Andong Meas license (Wild Boar, Canada Wall prospects)

Source: Company presentation

Koan Nheak license (Peacock prospect)

The 2019 fifteen drill hole program at Koan Nheak resulted in ten holes that intersected zones of quartz breccia with sulphide mineralization, confirming the existence of a gold mineralized system. As mentioned above the best result was 3.61 g/t gold over 8 metres. The 2020 drill program results are expected to be released shortly. What is interesting is that the geological setting is the same as Emerald Resources’ Okvau gold deposit located approximately 53 kilometres to the southwest. Emerald Resources has a published JORC-compliant Ore Reserve (Probable) estimate totaling 14.26 million tonnes grading 1.98 g/t gold for 907,000 contained ounces of gold. Clearly the potential exists for a similar deposit, it is really just a matter of further drilling to see what may be there.

Andong Meas license (Wild Boar, Canada Wall prospects)

Angkor’s Wild Boar prospect has had numerous encouraging samples (see chart below) but is yet to be drilled. Angkor is currently completing some additional field work (surface mapping, test pits) to assist in drill hole targeting. Angkor intends to commence a 1,000-1,500 metre drill program shortly.

The 100% owned Wild Boar prospect has had numerous very promising sample results for gold, drilling to follow soon

Source: Company presentation

In addition to the aforementioned gold drilling campaigns in H1 2021, Angkor will be also continuing to explore some of the other projects they have in Cambodia. These include exploring the Canada Wall prospect, which is a copper-molybdenum-gold porphyry system. Recent exploration here discovered four new epithermal anomalous gold targets similar to other structurally controlled epithermal gold occurrences. Gold and multi-element assay results from the soil sampling are pending.

Angkor also has a very large oil and gas exploration license known as Block VIII. This also has massive exploration potential, but we will leave that to be discussed another day.

Closing remarks

Very few junior explorers have as much exploration potential as Angkor Resources. Angkor has an enormous package of licenses including their 983 km² of mineral exploration land package and a 7,300 km² concession oil exploration license. Angkor has potential for gold, silver, copper, molybdenum, and oil & gas.

All of this for a company with a market cap of just C$9M.

All of this for a company with a market cap of just C$9M. Emerald Resources, who has tasted gold success, has a market cap of A$391M. This gives investors a glimpse of the potential of Angkor Resources Corp., if they can achieve similar success.




Stephen Burega provides an update on Cambodia’s 1st North American Publicly Traded Mineral Exploration Company

In a recent InvestorIntel interview Peter Clausi speaks with Stephen Burega, CEO of Angkor Resources Corp. (TSXV: ANK)  about Angkor’s gold, and oil & gas projects in Cambodia. Angkor is the first North American publicly traded mineral exploration company in Cambodia with 5 licenses covering approximately 1000KM2.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Stephen discussed how Angkor’s team has built strong relationships with local communities and all levels of government in Cambodia. He starts: “If you are not liked in the communities you are working in, it makes it very difficult regardless of the quality of assets…” Adding that Angkor is the only company to have an onshore oil block in Cambodia, he provides an update on Angkor’s Oil and Gas license, and an update on the Andong Meas and Koan Nheak License.

To watch the full interview, click here

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 kilometer oil and gas license in Cambodia.

To learn more about Angkor Resources Corp., click here

Disclaimer: Angkor Resources Corp. is an advertorial member of InvestorIntel Corp.




Stephen Burega on Angkor Resources’ recent high-grade gold sample results

InvestorIntel’s Tracy Weslosky speaks with Stephen Burega, CEO of Angkor Resources Corp. (TSXV: ANK), about their recent high-grade gold sample results from their Andong Meas property, and a corporate update.

In an InvestorIntel interview that can also be viewed on our InvestorIntel YouTube channel, Tracy and Stephen discussed the recent high grade results with up to 70.7 g/t gold from selected samples from the Andong Meas property. “Andong Meas is actually known in the Khmer language as well of gold,” Stephen said. They also discussed reclaiming control of the Peacock Gold Project and the Koan Nheak License, an update on the status of Angkor’s oil block, and the addition of new independent board members by Angkor.

To watch this interview, click here

To learn more about Angkor Resources Corp., click here

Disclaimer: Angkor Resources Corp. is an advertorial member of InvestorIntel Corp.




Angkor Resources’ Winning Formula: Strong Management, Great Assets and Excellent Exploration Upside in Cambodia.

Management is of key importance for all junior miners. Combine this with good assets and exploration potential and you have a winning formula. Angkor Resources Corp. (TSXV: ANK) has all three – Strong management, great assets, and excellent exploration upside.

Strong management

CEO Stephen Burega has spent the past 10 years intimately involved in the launch and management of a number of natural resource companies. He brings experience spanning both national and international projects, private and public sectors. Mr. Burega has also held senior management roles for a variety of both publicly traded and private natural resource companies. CEO Burega, according to the InvestorIntel Publisher has also spoken in front of the United Nations about their model of reinvesting in the community.

Angkor Resources CEO Stephen Burega

Source

VP Exploration Dennis Ouellette, B.Sc., P.Geo. has recently worked as a consulting geologist designing and managing exploration programs in Alberta, Yukon and British Columbia and assisting in the execution of exploration programs in the USA and Guatemala. During his career Dennis worked in a variety of roles, including VP for Northern Tiger which merged with Golden Predator which is now exploring the 3 Aces project in the Yukon, and senior Exploration Geologist, Project Geologist and Field Assistant for companies such as United Keno Hill Mines (Yukon), Falconbridge (Newfoundland) and Goldquest Exploration (Goldcorp – Red Lake, Ontario).

Executive Chairman Mike Weeks is a founder of Angkor Resources Corp. and previously served as its president and CEO. Mr. Weeks has 25 years experience in project management of power generation and petroleum-related industries. He has spent over 14 years negotiating with foreign governments in developing and implementing natural resource concessions. Mike has managed large projects in Canada, Africa and Europe, constructing and managing several large production facilities in North Africa.

Angkor’s business strategy focuses on project generation and selecting strong partners to advance each of their multiple prospects towards a sustainable recurring revenue stream. The Company has raised over USD $23 million to date from partners and capital raises to help fund its exploration activities.

Great Assets

Angkor has a very large land package entailing 983 km² in Cambodia with multiple prospects focused on gold, silver and base metals. Added to this is their oil and gas exploration license known as Block VIII (7,300 km² concession) also in Cambodia.

In their latest news Angkor Resources reported on their recently completed mapping and sampling program on their 100% owned Andong Meas property. This included multiple grab samples with gold from 3.08 to 55.4 g/t.

Angkor Resources Cambodian precious and base metals projects + oil and gas license concessions

Excellent exploration potential

Angkor’s exploration potential is massive and covers base metals, precious metals, and oil and gas, all in Cambodia.  Six key exploration licences include:

  • Andong Meas (187 km²) – Under-explored with potential for developing porphyry style mineralization and epithermal vein systems related to precious metal deposition. Past gold sampling has found samples of 20.9g/t and 19.7g/t.
  • Banlung (150 km²) – Hommy 5 Resources Inc. has an earn in agreement (up to 70%) with Angkor retaining a 30% interest. Past exploration has found a “bonanza zone” which included an intercept of high grade gold at Okalla East of 86.0 g/t Au over 1m, at 101m to 102m.
  • Koan Nheak (189 km²) Emerald Resources NL (ASX: EMR) has an earn in agreement with Angkor retaining a 20% interest. Prospective for gold and copper.
  • Oyadao (222 km²) – Early stage exploration opportunities.
  • Oyadao South Halo (235 km²) – Includes a copper-molybdenum-gold porphyry system with disseminated sulphides.
  • Oil and gas license – Block VIII – Bought only in 2019 Angkor Resources has already discovered promising multiple oil seeps within their Block VIII license.

Note that 2 of the 5 licenses currently have exploration funding agreements in place with JV partners.

Angkor Resources has to date been a prolific and successful project generator in Cambodia. Not only does this look set to continue in the areas of precious and base metals, oil and gas; but recent very promising gold sampling of up to 55g/t Au on their 100% owned Andong Meas property means Angkor may one day have their own Cambodian gold resource/mine. Of course it is early days but the recent news is very encouraging.

Angkor Resources trades on a market cap of only C$8 million. They control almost 1,000 km² on land and another massive 7,300 km² of oil & gas licenses all in the under-explored country of Cambodia. Combine their strong management, great assets, and excellent exploration potential and you have potential for a very successful future.




North America – Awash in Oil.

North America is awash in oil and this was never more evident than yesterday when the monthly contract rollover for WTI caused traders to pay rather than take physical delivery of the May contract.

Unprecedented is how some industry executives have described it. And while it makes for shocking headlines, oil producing companies will typically price their sales of the monthly average price and few if any sell oil on a spot/uncontracted basis.

At issue is North American crude oil storage. At a time of the year when US refiners would be getting ready to make and distribute gasoline for the upcoming (and probably now non-existent “driving season” that normally kicks off Memorial Day weekend), expect that US stockpiles at Cushing (WTI home) could hit 60 million barrels this week, leaving a scant ~16 million barrels of remaining excess storage capacity. Yes, that is still 20%, but most if not all of that capacity is already spoken for and it could be filled in weeks. Even before driving season, US gasoline demand was down by more than 30% this month, compared to a year ago according to the US-based Energy Information Administration (EIA).

Global oil tanker rental rates have skyrocketed in the past month as producers look for any possible storage space. Media reports have cited the use of any possible old tanks in the US as the industry struggles to find available storage. Everything that is capable of holding oil is being sought out and used. At some point in time, the costs to store the oil will become prohibitive and producers will be forced to shut-in production. This is already happening in both the US and Canada, but arguably not quickly enough to offset the precipitous fall in demand

With US consumption way down, yesterday’s contract expiry and negative WTI crude oil price foreshadows continued weak crude oil prices in North America until the supply-demand balance comes back in line. Expect one or two more contract expiration’s in the months ahead to again display negative pricing.

Notwithstanding North American pricing woes, Brent crude oil, which much of the world outside of North America uses as a pricing benchmark, is also under pressure, trading the low US$20s/bbl. While unsustainable as a long term price for producers, even out of the Middle East, volatility will remain until global supply/demand is balanced. Expect OPEC+ to have to cut production again – it can’t be soon enough!




Angkor Resources is giving back to the community as they pursue oil and gold exploration in Cambodia

You can’t underestimate the importance of a smile, and thanks to Angkor Resources Corp., hundreds of local villagers in Cambodia have something to smile about.

Angkor Resources Corp. (TSXV: ANK) has recently completed a regional dental campaign (in collaboration with an American dental team of Dr. Richard Schmotter, DDS, Dr. Alex Schmotter DDS, and Peggy Schmotter) in northeastern Cambodia. The 2020 campaign took place from January 1-4 this year, and provided free and much needed dental care to local members of the community. This included treating locals from more remote parts of Angkor’s exploration license areas including Oyadao and Andong Meas.

The North American team was also joined by Dr. Sophanara and Dr. Vuthy, two Khmer dentists who work in the region. The Schmotter team has undertaken dental campaigns in developing countries for over a decade in Africa, Asia, and South America. For its efforts, Angkor Resources and the dental team received recognition from the local village and commune leaders, health officials, and the Senior Minister.

North American dental team with a patient

Angkor Resources mining projects in Cambodia

Angkor Resources has a huge land package (983 km²) in Cambodia with multiple prospects focused on gold, silver and base metals. The Company has raised over USD $23 million to date from partners and capital raises to help fund its exploration activities. Then in 2019 Angkor Resources added an oil and gas exploration license known as Block VIII (7,300 km² concession) to complement their existing large portfolio of Cambodian projects. Angkor Resources has already discovered promising multiple oil seeps within its Block VIII licensed area. An oil seep is a natural leak of crude oil and gas that migrates up through the seafloor and ocean depths. It can be the first sign of an oil discovery.

Angkor Resources Block VIII oil and gas licenses in Cambodia

An update on Angkor Resources Cambodian licenses (excluding block VIII)

Angkor Resources has a massive Cambodian portfolio of gold, silver and base metals projects.

Oyadao

Just this month Angkor Resources signed a US$4.6 million Earn-In Agreement with Canadian development company Hommy Oyadao Inc. (“Hommy”) to earn up to a 70% interest in their Oyadao North License.

Angkor Resources Executive Chairman Mike Weeks stated: “We are very pleased to be working again with Hommy. They were excellent development partners on Banlung. The proximity of Oyadao to the development at Mesco’s Phum Syarung mine site (see press release dated June 25, 2018) is of great interest to us both and we are excited to pursue this initiative together.”

Banlung 

Recent drilling at the Okalla West & East targets of the Banlung tenement has achieved strong results. Four of the five holes returned greater than one gram per ton gold over one-meter sample intervals. Results over the one meter samples included 5.72 g/t and 4.04 g/t.

Management

Angkor Resources’ management is led by Executive Chairman Mike Weeks and CEO Stephen Burega.

Mr. Weeks has 25 years of experience in project management of power generation and petroleum-related industries. Mike has managed large projects in Canada, Africa and Europe, constructing and managing several large production facilities in North Africa.

Mr. Burega has spent the past 10 years intimately involved in the launch and management of a number of natural resource companies. He has been active on a number of boards for both profit and not-for-profit organizations.

Closing remarks

Angkor Resources Corp. (formerly Angkor Gold Corp.) is the first North American publicly-traded mineral and oil & gas exploration company in Cambodia. The Company’s business model focuses on project generating with strong partners and has proven to be successful to date. This model allows cash flow generation and accelerates exploration, while retaining some of the project’s potential upside should exploration go well.

Angkor Resources is not only giving back to the local community, but they are also now very well positioned to become the largest project generator in Cambodia.




Angkor Resources new oil and gas exploration in Cambodia begins well

The expansion of Angkor Resources Corp. (TSXV: ANK) into oil and gas is off to a promising start. The Company recently reported identifying a number of well-distributed oil seeps within and around the mapped Tertiary rift basins of Angkor’s new Block VIII oil and gas license, and announced last week that USD $1 million has already been raised to further exploration.

Background

Angkor Resources (formerly Angkor Gold) has extensive in-country experience in Cambodia, a huge land package (983 km²) in Cambodia with multiple prospects focused on gold, silver and base metals, over USD $24 million in asset transactions and financings to date, and a recently added oil and gas exploration license (7,300 km² concession) to complement their existing large portfolio of Cambodian resource projects.

New oil and gas opportunities off Cambodia – Oil seeps discovered

In August 2019 Angkor Resources Corp. subsidiary EnerCam Exploration Ltd. received license approval from the Cambodian Government to Block VIII of the Kampong-Som Basin.

Then just about 2 weeks ago Angkor announced that they have discovered multiple oil seeps. An oil seep is a natural leak of crude oil and gas that migrates up through the seafloor and ocean depths. Testing of the seeps confirmed that the samples contained hydrocarbons of thermogenic origin (i.e. liquid hydrocarbon generated at depth from mature source rocks that had migrated to surface).

Multiple oil seeps documented on Angkor’s new Block VIII license

Angkor CEO Stephen Burega stated: “We are very pleased to have this data locating and testing seeps on our new oil and gas license. The testing results on the oil seeps confirm surface hydrocarbons. With the large amount of work and data compiled on Angkor’s 7,300 km2 Block VIII, we have multiple targets. This allows us to greatly speed up our initial exploration and allows us to focus on already identified areas of interest.”

Independent field research conducted for Angkor indicates that Block VIII is host to a newly recognized and completely unexplored foreland sedimentary basin related to the Bokor-Elephant Mountain compressional fold and thrust belt. Angkor is now proceeding with the negotiation of the Production Sharing Agreement (PSA) with regard to the license.

CEO Stephen Burega adds: “With our recent announcement of our successful oil and gas license application in Cambodia, our recent name change to Angkor Resources reflects our diversification into oil and gas assets in addition to our established mineral exploration projects.”

Cambodia is relatively under-explored 

Cambodia and Thailand host a number of Tertiary rift-basins both onshore and offshore. The main difference is this:

  • Thailand – Over several thousand wells have been drilled, with more than 40 producing fields in basins of Tertiary age.
  • Cambodia (despite having similar geology to Thailand) – Limited exploration drilling with little more than 30 wells drilled, none of them inland.

The point here is that Cambodia is clearly under-explored despite having similar regional geology to Thailand.

US$1 million recently raised to support exploration

To advance Angkor’s new Cambodian oil and gas license at Block VIII, Angkor subsidiary, EnerCam Exploration Ltd. has raised USD $1,000,000 through the private sale of shares of EnerCam Resources Singapore Pty. Ltd. to various international accredited investors. EnerCam Resources Singapore is a private company incorporated in Singapore by Angkor to hold 100% ownership of the Cambodian oil and gas concession license. EnerCam Exploration Ltd., has allocated up to 2.5 million of a total 10 million outstanding shares of EnerCam Singapore for sale at a price of USD $1 per share in order to finance early stage start-up costs and exploration of the Block VIII oil and gas license. About 1 million of the available shares have been sold to date. These funds will be used to pay licensing fees, acquire existing seismic and geological data, field exploration and general operating expenses.

Exploration for gold and base metals continues with the help of the Cambodian government and JV partners

With the support of the Cambodian government, local communities, and earn-in exploration funding partners, such as Canada’s Hommy 5 Resources Inc. and Australia’s Emerald Resources NL. Angkor continues to explore numerous gold and copper targets on its five mineral exploration licenses covering a 983-square km land package in Cambodia.

Angkor Resources gold & base metals tenements, JV partners, and promising Au results

Headquartered in Alberta, Canada, Angkor Resources is the first North American publicly-traded mineral and oil & gas exploration company in Cambodia.

With massive Cambodian land packages prospective for gold, base metals, and now oil; Angkor Resources should definitely be on investor’s radar screens.