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.

Closing remarks

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.




Stephen Burega provides an update on Cambodia’s 1st North American Publicly Traded Mineral Exploration Company

In a recent InvestorIntel interview Peter Clausi speaks with Stephen Burega, CEO of Angkor Resources Corp. (TSXV: ANK)  about Angkor’s gold, and oil & gas projects in Cambodia. Angkor is the first North American publicly traded mineral exploration company in Cambodia with 5 licenses covering approximately 1000KM2.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Stephen discussed how Angkor’s team has built strong relationships with local communities and all levels of government in Cambodia. He starts: “If you are not liked in the communities you are working in, it makes it very difficult regardless of the quality of assets…” Adding that Angkor is the only company to have an onshore oil block in Cambodia, he provides an update on Angkor’s Oil and Gas license, and an update on the Andong Meas and Koan Nheak License.

To watch the full interview, click here

About Angkor Resources Corp.

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading mineral explorer in Cambodia with a large land package across four 100%-owned licenses and a fifth license under an earn-in agreement with a third party. In 2019, the company received approval to negotiate Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometer oil and gas license in Cambodia.

To learn more about Angkor Resources Corp., click here

Disclaimer: Angkor Resources Corp. is an advertorial member of InvestorIntel Corp.




Angkor advances gold property with new results and money in the bank

Selected high-grade float samples with up to 70.7 g/t gold

In spite of the challenges facing many exploration companies, Angkor Resources Corp. (TSXV: ANK | OTC: ANKOF) has been able to continue to both break new ground and raise money in these difficult times. It recently announced new gold exploration results from their 100% owned Andong Meas property in Cambodia. The most recent press release highlighted continued work, with a result of 70.7 g/t gold from float sampling. This follows their reported results announced on May 27, 2020 that included a result of 55.4 g/t gold from sampling on their 100%-owned Andong Meas License in Cambodia.

It should be noted that the samples at Andong Meas occur in clusters, suggesting several different vein segments over a north to south distance of about 700 meters. These very promising results have set up a future exploratory diamond drill program (currently planned at 1,000+ meters) to test the potential high-grade gold mineralization zones around their Wild Boar target.

“There is a plethora of prospects on the Andong Meas property,” said Angkor CEO Stephen Burega, “but we have chosen to initially focus on the Wild Boar area based on the excellent results to date.” The Wild Boar prospect was formerly an area of intensive artisanal mine workings on several subparallel epithermal veins. In addition to the gold bearing quartz veins, skarn alteration on the contact between granites and marbles in the area was observed. Definitely the right place to be exploring for gold, especially since ‘Andong Meas’ in the local language means ‘Well of Gold‘.

According to Angkor technical adviser Dr. Kaihui Yang, the “high grade gold mineralization found so far in Andong Meas has the characteristic of an epithermal gold system that could sit on a porphyry system underneath.” This is highly relevant to shareholders, as much of the Andong Meas property has yet to be explored.  While the entire Andong Meas license has been the subject of an aeromagnetic survey, satellite imagery geological interpretation, reconnaissance field truth mapping and multi-element stream sediment geochemical survey, there still remains work to be done – with the potential for additional discoveries – on this single 100% owned license of 187 square kilometers in Cambodia.

Work is planned to resume in November after the end of the rainy season. The company currently has staff working in Cambodia including the VP Exploration who lives there full time, so the work program will not be hampered by any of the now common coronavirus travel restrictions. In addition to the planned diamond drill program, a detailed surface mapping program is in the works along with an auger and trenching program covering the entire area at Wild Boar with a 25 meter sample spacing and a 50 meter line spacing and pit testing to further test the depth of the bedrock. The company is fully staffed to conduct its future exploration program, and recently successfully raised CDN $1.8 million in an oversubscribed private placement in June to keep the exploration program running.

Property portfolio includes oil and gas

Angkor has operated in Cambodia for over 10 years, with a very large land package of approximately 983 square kilometers over five licenses, targeting precious and base metals. In addition, Angkor has government approval for a 7,300 square kilometer oil and gas license, in a vastly underexplored basin which includes the Gulf of Thailand. Their license at Block VIII has evidence of oil seeps on the block and is on the edge an oil-prone area where an offshore oil discovery is currently under development in Cambodian waters.

Angkor’s oil team hopes to be back in Cambodia once coronavirus-related travel restrictions are lifted to complete negotiations on the Production Sharing Agreement contract terms for the oil and gas license with the Cambodian government.

With their recently oversubscribed, non-brokered private placement raising CAD$1.8 million, Angkor is well-funded to advance the next phase of the exploration program on Andong Meas and continue to demonstrate the resource potential of this valuable asset.




New oil and gas license further positions Angkor Gold as a significant resource player in Cambodia

It’s no longer just about gold for Angkor Gold Corp. (TSXV: ANK), it’s also now about oil and gas in Cambodia. Through the Company’s subsidiary, EnerCam Resources Co. Ltd, The Royal Government of Cambodia has now approved Angkor’s license for the development of Petroleum Block VIII. Angkor will now proceed with the negotiations of the Production Sharing Agreement regarding the license.

Angkor CEO Stephen Burega stated: “This is a major milestone for Angkor. Angkor is the first Canadian exploration company to be granted this level of approval to pursue oil and gas opportunities in Cambodia.”

Petroleum Block VIII oil and gas licence location map

The Royal Government of Cambodia has determined Angkor’s subsidiary is technically qualified to explore and develop this oil and gas concession. With Angkor’s Executive Chairman Mike Weeks experience and expertise in foreign oil and gas projects, Angkor is well-positioned to expand in SE Asia’s extraction sector and is looking forward to commencing a seismic and data review as soon as possible.

His Excellency Cheap Sour, the Director General of the Department of Petroleum of Cambodia’s Ministry of Mines and Energy added: “We are very pleased to be working with Angkor in developing Cambodia’s oil and gas potential.”

Recognized oil and gas exploration expert Dr. Lorne Rosenthal, who has worked in oil and gas exploration in the Western Canadian Sedimentary Basin for over 40 years, will assist in this expansion of Angkor’s resource focus. Angkor has successfully operated in the Kingdom of Cambodia since 2009 and will continue to explore and develop its five mineral exploration licenses that cover approximately 983 km2, with the support of the Cambodian government, local communities, and earn-in exploration funding partners.

Cambodia’s neighbours have developed sizable oil and gas reserves

The recently recognized and unexplored onshore Petroleum Block VIII in the sedimentary Kampong-Som Basin, was first identified and interpreted as a foreland basin in 2016 as having some of the characteristics of other oil-bearing basins. Although viewed as a country with mining and mineral resource opportunities, Cambodia’s neighbouring countries have already developed sizable oil and gas reserves. This includes the Gulf of Thailand to the west, the Khorat Plateau of Thailand to the north, and in the Vietnamese Cuu Long Basin of the South China Sea to the south.

Angkor Gold to change name to Angkor Resources Corp.

To better reflect this new direction as a gold and oil exploration company, Angkor Gold will be applying to change its name to Angkor Resources Corp. Angkor will continue to focus on gold, silver and base metals exploration with the new name better reflecting the Company’s diversification into oil and gas assets. A new website is expected to be rolled out in the coming months with no changes to the TSXV: ANK ticker.

Cambodia is open for mining business

Since 2009 Angkor has seen the Cambodian Government undertake improvements to attract industry by upgrading infrastructure to improve roads and access to hydropower. These improvements along with the adoption of Anti-Corruption Laws in 2010 has made Cambodia very mineable and appealing for developing natural resource projects of all types, attracting investment from all over the world.

Cambodia is open for mining business and Angkor is very well positioned as the first publicly-traded North American mineral exploration company in Cambodia, and now the first with an oil and gas license. Angkor has extensive in-country experience, a huge land package of almost 1,000 km² in mineral exploration licenses, each with multiple prospects, over US$23 million in asset transactions and financings to date, and has now added a 7,300 km² oil and gas exploration license area to complement their existing large portfolio of projects focused on gold, silver and base metals.

The addition of this new oil and gas license further positions Angkor as a significant resource player in Cambodia.




Angkor Gold’s Burega on diversifying into oil and gas in Cambodia

“We are going to continue with the hardrock side, but we have decided that we are going to move into oil and gas as well in Cambodia. We are in the process of finalizing our first application with the Cambodian government for an onshore oil block. That is going to run in parallel with our hardrock assets. We still have approximately 1,000 square kms on five licenses four of which are in partnership currently. Our model of a project generator continues, its just that we are expanding in the oil and gas side as well because we see great potential there.” States Stephen Burega, CEO of Angkor Gold Corp. (TSXV: ANK), in an interview with InvestorIntel’s Tracy Weslosky.

Tracy Weslosky: I understand that you are kind of changing the direction for Angkor. Can you tell us a bit more about that?

Stephen Burega: More so adding to directions for Angkor. We are going to continue with the hardrock side, but we have decided that we are going to move into oil and gas as well in Cambodia. We are in the process of finalizing our first application with the Cambodian government for an onshore oil block. That is going to run in parallel with our hardrock assets. We still have approximately 1,000 square kms on five licenses four of which are in partnership currently. Our model of a project generator continues, its just that we are expanding in the oil and gas side as well because we see great potential there.

Tracy Weslosky: Can you tell us a little bit more about Cambodia because not all of us understand the opportunity that is there right now.

Stephen Burega: Cambodia’s advantage is the fact that there are operations both on hardrock and oil and gas on all sides of the country. In Thailand, Laos as well as in Vietnam we see production in hardrock side, large scale base metal operations, precious metals as well as offshore and onshore gas production. When we arrived in Cambodia ten years ago none of that potentials were identified and we are looking at taking advantage. As the first mover in the country we are moving towards bringing now onshore oil potential into our shareholder base…to access the complete interview, click here

Disclaimer: Angkor Gold Corp. is an advertorial member of InvestorIntel Corp.




Glasier on how vanadium is “now the primary product for production” at Western Uranium

George Glasier, President, CEO and Director of Western Uranium Corp. (CSE: WUC | OTCQX: WSTRF) (“Western Uranium”), a mining company focused on low cost near-term production of uranium and vanadium; in an interview with InvestorIntel Director Kelly Bird discuss the current critical material market. Kelly comments on the “new-found spark of optimism in the uranium market” and George responds to this and then goes on to explain how the increased interest in vanadium this year was an opportunity to remind shareholders of Western Uranium’s vanadium resource. George comments that their “at a level now where the vanadium in our (Western Uranium) properties in some of these mines actually exceeds a value of the uranium…in the past vanadium has been a secondary product, but it is almost now the primary product for production out of these mines.”…to access the complete interview, click here

Disclaimer: Western Uranium Corp. is an advertorial member of InvestorIntel Corp.




Hemisphere Energy CEO on oil production increase

Don Simmons, CEO, President and Director of Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere”) in an interview with InvestorIntel Senior Editor, Peter Clausi discuss their Jenner and Atlee Buffalo oil assets located in Alberta, Canada. Hemisphere has recently gone through a strategic refinancing, giving them access to additional capital to get out and be more active in the field. Don goes on to explain, that Hemisphere has also been experiencing substantial growth as a company. In fact, during Q2 2017, Hemisphere produced on average 600 barrels of oil equivalent per day (BOE/D), a 22% increase from 2016, and have produced as much as 700 BOE/D this year. Hemisphere’s last oil and gas reserve report stated they have 4.5 million BOEs of reserve, with a value of $66 million.

Peter Clausi: Some interesting events have occurred over the past few years in Alberta. How have you fared?

 Don Simmons: It has been survival through the last few years in Canadian energy business, but certainly things are looking better these days. There is more activity and certainly we reflect that as a company. We are certainly more active than we have been in the last 2 to 3 years.

Peter Clausi: There is a lender out there who is very confident in you as well. There was a recent press release about a new credit facility you have.

Don Simmons: We have done a strategic refinancing. We have taken out our traditional lender and it has given us access to additional capital to get out and get more aggressive in the field and really get after our growth and our assets.

Peter Clausi: At this stage of the recovery period everyone is concerned about cash flow and debt levels. Are you happy with your degree of cash from operations versus your debt?

Don Simmons: I am comfortable with it today in a $50.00 oil environment. That is something that we look to improve. As we drill and we add more production, more cash flow, more reserves we will see that debt to cash flow number come down more and more…to access the complete interview, click here

Disclaimer: Hemisphere Energy Corporation is an advertorial member of InvestorIntel.