Grande Prairie, Alberta--(Newsfile Corp. - May 19, 2021) - Angkor Resources Corp. (TSXV: ANK) (OTC Pink: ANKOF) ("Angkor" or "the Company") announces its recent sampling at its 100%-owned Andong Meas high-grade gold epithermal property has returned up to 32 grams/tonne gold and it has discovered two new targets on the license.
While the previously announced IP program is coming to completion over the next week, and trenching continues over an area showing multiple veining at shallow depths, two additional discoveries were made north of the center of Wild Boar while mapping.
CEO Delayne Weeks commented, "Each exploration step we take that gives us more mineralization over our targeted area increases the probability that we have a commercial quantity. So every trench, pit, and added area we find that carries gold grade moves the Company to increased shareholder value, and we are still only touching the shallow, near-surface levels. Add to that the previously-announced agreement with Tang Se communities means shareholders know the project can move towards a more advanced stage."
Program Highlights
- Mapping at the Wild Boar epithermal gold target has resulted in the discovery of two additional structures displaying silicification and quartz veining.
- Structure One (shown below with dotted blue ring on the right), 450 metres north of Pit Line 1 and between lines 14-16 of the IP survey, returned 32 gpt gold from a recent quartz float sample, representing the highest-grade float sample collected north of the pit lines.
- Structure Two (map below dotted blue ring on the left), roughly 1000 metres northwest of Pit Line 1 and between IP lines 16-18, returned 2.32 - 6.06 gpt of gold.
- Trenching in the area indicates the veins are relatively flat lying. One vein was trenched for 38 metres west to east and is now being exposed to the north for 15 metres so far and a thickness of 10 cm - 30 cm. The only breaks in the vein are erosional. One sample of vein from the previous Pit program returned 7.7 gpt gold (all insitu pit samples are noted as ANK test pits).
- The IP close-spaced survey of 18 lines totalling 15.45 kilometres was recently completed targeting a depth of 150 metre and geology staff are reviewing the data.
- An additional survey of three lines totalling 3.6-line kilometres survey is currently underway and is designed to 'see' to depths up to 500 m.
As deep survey IP continues, and mapping and trenching expands to additional areas, the Company has increased the magnitude and number of locations under active exploration.
Samples collected from a number of the trenches have been sent to ALS Global Laboratories and results are pending.
Figure 1
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"The company will concentrate on the eastern area with the abundance of mineralized quartz veins but we are excited at the prospect expansion with these other target areas", says Dennis Ouellette, VP Exploration.
It should be noted that there is very little outcrop in the area and most of the information is based on best fit models though trenching is allowing for the infilling of detail as the program progresses.
Figure 2: Exposed veins are collected by local landowner, who then crushes the material, and recovers 0 .41 gpt in gold.
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Figure 3: Near surface trenching to track the bends, pinches and swells of veins. Above: ANK staff sample veins every metre for assay. 19 samples submitted to ALS from this trench.
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These wide flat veins are the largest identified to date over 550 square metres, and ranging from 10 cm to 30 cm in depth, being thicker in the west and thinning to 10 cm moving to the east. Picture (above and on right side) Trenching followed the previous pit program, with pits 10 metres spaced apart. The trench was stopped after 38 metres and revealed approximately 25 metres of flat lying quartz vein with minor pyrite and galena. The 19 samples collected from this completed trench have been sent to ALS Global Laboratories and results are pending.
Ouellette comments, "Our WB veins are unusual because they are flat and have a very shallow dip. This could be because the vein formed close to the surface (within a few hundred metres) and was also following a flat structural feature. The dacite has since eroded away leaving the flat vein. Because we discovered veins in several pits on lines 1 through 4, it appears there are many veins that are stacked with granodiorite between them. "
Because the mineralization is easy to track at such shallow depths, the Company will continue trenching and pit exploration to further connect multiple vein patterns and then assess the results with IP before drilling decisions are made.
QUALIFIED PERSON
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 on site and has reviewed and approved the technical disclosure in this document.
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 2020, the company received approval and initiated negotiations on Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.
CONTACT:
Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Email: da@angkorgold.ca
Website: http://www.angkorresources.ca or follow us on Twitter @AngkorResources
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 information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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