TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) — Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to report on the continuation of a mapping and sampling program on its 100% owned Andong Meas property.
HighlightsAdditional high-grade samples with up to 70.7 g/t gold from selected samples from our Andong Meas property;The samples also occur in clusters suggesting several different vein segments over a north to south distance of about 700 meters; andAngkor is planning a trenching/auger/pit program followed by a detailed surface program focusing on the mineralization. Once completed, a +1000m diamond drill program is planned to determine the host rock as well as the style, size, number and character of the gold veins.“The high-grade samples occur in clusters suggesting several different vein segments over a distance of about 700 meters, in a northwest trend,” stated VP Exploration Dennis Ouellette. “We are planning a diamond drill programme to test the potential high-grade gold mineralization zones. The abundance of and high-grade nature of the quartz float samples is very encouraging.”“Andong Meas is tectonically located in the southwestern segment of the large Yanshanian magmatic belt that hosts several world-class epithermal and porphyry systems including the Zijinshan gold-copper mine that is a core asset of Zijin Mining Company,” Dr. Kaihui Yang said. “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.” Dr. Yang is the technical advisor for Angkor Gold, and has visited the Andong Meas property.Assay ResultsThe list of samples above are selected samples and are not necessarily representative of the mineralization hosted on the property.
Wild Boar sample V035514-70.7gpt is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d22106e5-0a89-483f-9147-a2dff5b359e1Wild Boar samples 035612-17.6 gpt.AU and 035609-19.45 gpt.AU are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/775de20c-b29f-4c84-a4d6-cb25ae9ffba2Wild Boar samples 035608-17.6 gpt AU and 035607-19.45 gpt AU are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c99dff9a-4f02-4fa5-a4ef-ba69aa15de1dPROPOSED WORK PROGRAMMEDetailed surface mapping program along with an auger and trenching program covering the entire area at Wild Boar consisting holes with a 25 meter sample spacing and a 50 meter line spacing. Pit testing will also be included in the program to further test the depth of the bedrock.10 km of IP (Induced Polarization). Pole dipole array with 10m dipoles to achieve a depth of 500m while retaining horizontal resolution.A +1,000m diamond drill program will test the primary anomalies or mineralization zones, as may be indicated by the auger and pit/trenching programs and by the detailed mapping program.Once the vein is intercepted, subsequent drill holes would be designed for further intercepts either down dip or along strike.Wild Boar Rock Samples are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/700903d7-cfa7-4a27-b1e7-19a153a40e32PREVIOUS WORKOver the previous years, Angkor has worked portions of the Andong Meas tenement but much of the property has yet to be fully explored. There are several target areas already defined on the license including the Canada Wall and South Creek porphyry copper moly gold systems, the Colonial and Wild Boar epithermal gold systems and a number of less well defined gold targets surrounding the porphyry centres.The entire license area (187 KM2) has been the subject of an aeromagnetic survey, satellite imagery geological interpretation, with reconnaissance field truth mapping and multi-element stream sediment geochemical survey.The Wild Boar prospect was formerly an area of intensive artisanal 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.SAMPLE METHODOLOGYAngkor maintains a rigorous sample quality control and assurance protocol, with the customary insertion of blanks and standards, cross-checking and duplicate analysis, retention of all saw-split cores and sample pulps at their gated and fenced secure facility in Banlung. Analysis for publication are all done by accredited third party laboratories, usually ALS-Chemex in Vientiane or Perth, by SFA and AAS finish for gold, or ICP-MS for base metals In-house geochemical analysis of soil and termite mound samples are done at the company’s Banlung laboratory by XRF for base metals and by panning for qualitative gold detection.Angkor’s QA/QC protocol requires calibration standards and blanks be inserted at a rate of 10 per 100. In addition, periodic checks are run on a selected spectrum of samples at ALS-Chemex laboratories. All soil and rock samples are submitted to ALS Mineral-Australian Laboratory Services (Cambodia) Co. Ltd for preparation in Phnom Penh, and gold analyses are done by ALS by standard fire assay in their Vientiane laboratories. All other analyses are by Aqua Regia digestion with ICP-AES/ICP-MS (51 element ME-MS41 package) in their Australian laboratories. Initial assays use their Au-ICP22 method of standard fire assay with an ICP-Atomic emission spectrometry finish on a 50gm aliquot, which has a detection range of 0.001 to 10 g/t. Check assays use the Au-AA26 method of standard fire assay with an ICP-Atomic absorption spectrometry finish again on a 50gm aliquot, which has a detection limit of 0.01 to 100 g/t.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. The Andong Meas property is 187 KM2 in size, and the Company owns 100% of the high-potential property. In 2019, the company received approval to negotiate Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.CONTACT:Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: [email protected]
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGoldNeither 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.Forward Looking InformationThis news release includes certain statements that constitute “forward-looking information or statements” within the meaning of applicable securities laws, including without limitation, statements relating to the technical, financial and business prospects of the Company and its properties, and other matters.Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
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