Matt Bohlsen on project generator Angkor Resources as they explore Cambodia for gold, base metals and oil and gas
Angkor Resources Corp. (TSXV: ANK) (‘Angkor’) is a leading Canadian gold, base metals, oil and gas explorer in Cambodia. Angkor has been working in Cambodia since 2009 and is the first North American publicly traded mineral exploration company in Cambodia. Angkor has 983 km² of mineral exploration land package with multiple prospects and a 7,300 km² concession oil exploration license, all in Cambodia.
A summary of Angkor Resources – Precious and base metals and oil & gas exploration all in Cambodia
Angkor’s business strategy focuses on project generation and selecting strong partners to advance each of their multiple prospects to a sustainable recurring revenue stream. Management is highly experienced with a history of successfully closing on more than ten deals worth in excess of US$23 million. Angkor’s achievements to date have been with the support of the Cambodian government, local communities, and earn-in exploration funding partners such as Japan’s JOGMEC, Australia’s Emerald Resources NL and Canada’s Hommy 5 Resources Inc.
Angkor is focusing on their 100% owned Andong Meas Property (Wild Boar & Canada Wall prospects) which is showing potential for gold
After reporting additional high-grade gold samples (up to 70.7 g/t Au) from the Wild Boar prospect in August 2020, Angkor announced its 2020/21 work program will include surface mapping through to drilling on the Andong Meas Property (including the Wild Boar and Canada Wall prospects). The work will include a 10 line-kilometer IP survey and a ground magnetics survey as well as a trenching/auger/pit program and a minimum 1,000 meters diamond drill program.
Dennis Ouellette, VP of Exploration, stated: “Following on the recently announced Wild Boar surface results that showed some spectacular numbers, we are keen to further explore this prospect which has several subparallel epithermal gold mineralized veins. I believe there is exceptional potential across the Andong Meas license given the long history of artisanal mining and visible gold found in pan concentrates that ANK’s team has seen in the creek structures surrounding these two targets.”
At the Canada Wall prospect past work has identified a porphyry copper, molybdenum, gold system as well as placer gold in creeks in the area. A past program of 3 diamond drill scout holes, totalling 521m was also drilled on the prospect. These showed exceptionally high molybdenum, tungsten and silver levels.
Just last week Angkor announced some new news at Canada Wall. A detailed soil sampling program identified two new gold anomalous targets to the east and southeast of the main anomalous area at the Canada Wall prospect. These new target areas will be examined immediately to determine the best methods of evaluating them to a drill-ready stage. Further gold and multi-element assay results from the soil sampling are pending.
A summary of Angkor Resources’ Andong Meas License
Koan Nheak license (Earn-In Agreement with Australian company Emerald Resources)
Block VIII oil & gas exploration license
With regards to Block VIII Angkor is currently in the process of securing funding and negotiating a Production Sharing Agreement with the government.
Angkor Resources continues to actively explore their most promising license areas in Cambodia, predominantly for gold, base metals (including copper and molybdenum), as well as in time hopefully oil and gas. So far the Andong Meas, Koan Nheak, Banlung and Oyadao North & South Properties have shown the most promise. At Andong Meas, the Canada Wall prospect is really looking quite promising, with further results expected soon. Block VIII has enormous potential if oil & gas exploration can begin.
Exploration takes time, money and most of all patience. However with a market cap of just C$10 million Angkor Resources offers huge potential upside if they can strike it big. Stay tuned.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>