Angkor Gold Announces New USD $1 Million Drill And Exploration Program With JOGMEC
January 15, 2018 (Source) — Angkor Gold Corp. (TSX VENTURE: ANK) (OTC PINK: ANKOF) (“Angkor” or “the Company”) CEO Mike Weeks is pleased to announce an additional diamond drill and regional exploration program at Halo on Angkor’s Oyadao South license, in conjunction with its exploration partner, Japan Oil, Gas and Metals National Corporation (“JOGMEC”).
“I am very pleased with the continued confidence that JOGMEC is showing in the exploration at Halo,” said Mike Weeks, Angkor’s CEO. “They have expanded and moved up the timetable for the Phase 2 exploration plan based on the strength of the initial results.”
Highlights of the new exploration program include:
- Phase 2 exploration program to commence immediately.
- USD $1 million in planned expenditures up to the end of March 2018.
- 1,200 metres of drilling planned.
- Extension of IP (Induced Polarization) geophysics survey to new areas.
- Additional regional exploration, including termite mound soil sampling programs over magnetic anomalies east and west of Halo, and geological mapping.
The new program will include regional exploration in Oyadao South targeting regional stream sediment and termite anomalies from previous surveys in the region, as well as further geophysics in the area. Results from Phase 1 drilling reported copper intercepts, indicating the existence of previously unknown copper-molybdenum porphyry systems at Halo.
“We were very pleased with the results from the initial Halo program,” said JP Dau, VP of Operations. “Our focus in the upcoming drilling program will follow up on the favourable copper and silver results returned from the previously untested intrusive complex in the Halo prospect. Encouragingly, the 7.25 km2 area of Halo lies within the same belt of rocks as the Phu Kam copper/gold deposit in Laos.”
“Having close to 100m of mineralization at surface in the first hole is most encouraging,” said Dennis Ouellette, Angkor’s VP Exploration. “This additional drill program will further test the extent of the mineralization as well as explore other targets defined by the IP program.”
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Previously reported drill hole HAL17-001D (see press release of October 19, 2017) showed copper (Cu) and silver (Ag) mineralization in the top 99 metres, with anomalous levels of molybdenum (Mo) corresponding with disseminated sulphides observed in the same interval. Included in the previously reported 99m interval was an intercept of 0.24% Cu, 1.34 g/t Ag, as well as 0.026% Mo over 88.9m which includes 7.9 metres of 0.8% Cu, 2.24 g/t Ag, and 0.03% Mo from 10.1 metres to 18.0 metres. True widths of the drill hole intersections have yet to be determined.
Phase 2 exploration will also extend the IP lines 4.5 km further to the west of Halo to evaluate the potential for additional mineralized porphyry intrusions.
JOGMEC was established in February 2004, following the integration of the former Japan National Oil Corporation and Metal Mining Agency of Japan. It is an Independent Administrative Agency under the Japanese Ministry of Economy, Trade and Industry, with a mandate of investing in exploration minerals projects worldwide to help secure a stable supply of natural resources for Japanese industry.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is a leading mineral explorer in Cambodia with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). He is the Company’s VP Exploration and has reviewed and approved the technical disclosure in this document.
On behalf of the Board,
President & CEO, Angkor Gold Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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