Angkor Gold’s Koan Nheak Cambodian license shows positive early signs of gold
Gold is extremely malleable, conducts electricity, doesn’t tarnish, alloys well with other metals, and is easy to work into wires or sheets. Not to mention, gold is unrivaled in its natural brilliant luster and glossy shine. Because of these unique properties, gold makes its ways into almost every sphere of modern life in some way, shape or form.
Angkor Gold Corp. (TSXV: ANK) is a leading gold and copper mineral explorer and project generator, with more than 30 prospects across five licenses covering a 983 square kilometer land package in Cambodia. Operating in a stable & mining friendly region, Angkor’s business strategy is based on project generation and building a royalty portfolio. In the past three years, Angkor has completed ten successful transactions valued at over US $19 million. This includes several multi-year earn-in agreements with major international companies such as Japan Oil Gas and Metals National Corporation (JOGMEC), a net smelter return with Mesco Gold (with a sliding scale 2.0% to 7.5%), and a $US 2.2 m earn in agreement with Australian company Emerald Resources.
Positive signs of gold in soil analysis over a 700 metre strike length at Koan Nheak
On August 8, Angkor Gold reported the discovery of a new gold-in-soils anomaly, at their Koan Nheak license in Cambodia. The discovery extends over 700 meters from north to south and up to 300 meters east to west at >10 ppb Au. The discovery is located less than a kilometer north of the Peacock South Prospect previously defined by Angkor Gold, which extends over 1,400 meters from north to south and up to 400 meters east to west at >10 ppb Au. Exploration was carried out by Emerald Resources through its Cambodian subsidiary, Renaissance Minerals Ltd, under a definitive earn-in agreement with Angkor. Planning is underway for Emerald’s reconnaissance drill testing program on both of the Koan Nheak targets. Note that the end game goal will be that Angkor Gold will maintain a 20% participating interest in the property, or at Angkor’s discretion, can convert to a 3.5% Net Smelter Return (“NSR”) on all metals. Renaissance will be the operator on the project throughout. Also note that surface results are an indicator of hopefully much better results deeper below the surface.
Angkor President J.P. Dau said: “We are very pleased to see Emerald developing more drill targets following new and last year’s encouraging results on our Koan Nheak license. These large gold-in-soil targets represent more discovery opportunities for Angkor and our shareholders, and we are very much looking forward to the drill results.”
Angkor Gold has been working in Cambodia since 2009, and has seen the Cambodian government implement and upgrade infrastructure and undertake improvements that attract industry. These undertakings include upgrades to highway conditions, access to hydro power, and the adoption of Anti-Corruption Laws in 2010, all making Cambodia very mineable and appealing for developing natural resource projects of all types. These improvements extend to the establishment of the Cambodian Association for Mining and Exploration Companies (CAMEC). This organization is recognized by the Cambodian government and promotes a responsible and sustainable mining industry in Cambodia of which Angkor Gold is proud to be a member.
Investors can be certain that Cambodia has gold. The solid history of artisanal gold mining bears proof, as do the exploration efforts that are currently underway. The country’s gold appears to be widely distributed with commercial scale gold mining opportunities.
The recent positive sign of gold in soil samples at Koan Nheak over 700 metres bodes well for the upcoming drilling campaign. With strategic partners in place, government support, and drilling to follow soon; Angkor Gold Corp. could become a larger gold royalty/project generator company in Cambodia in the near future.
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>