EDITOR: | February 4th, 2020

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

| February 04, 2020 | No Comments
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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.


Matthew Bohlsen

Editor:

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>


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