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.
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.
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>