Angkor Gold Reports Discovery of Mineralization And Expansion of Trenching Program
SEXSMITH, AB--(Marketwired - March 06, 2017) - Angkor Gold Corp. (TSX VENTURE: ANK)(OTC PINK: ANKOF) ("Angkor" or "the Company") is pleased to provide an exploration update from the Okalla West Exploration Prospect, Cambodia.
The Okalla West surface gold zone is within the Company's 150 km2 Banlung Exploration license, Cambodia. Work on Okalla West is done under an agreement with Blue River Resources Ltd. (TSX VENTURE: BRX).
As previously reported (see release dated Jan. 23, 2017 - http://www.angkorgold.ca/angkor-reports-discovery-gold-okalla-west-concentrated-2-metre-thick-soil-layer ), exploration continues within the previously discovered 4 km2 surface gold anomaly at Okalla West. Interpretation of previous testing results suggests two structural fault systems with the possibility of multiple quartz veins. Grab samples from field mapping show evidence of a quartz vein system in the surrounding area.
New trenching at Okalla West, which consists of a series of pits dug on lines at 15m intervals, has exposed significantly larger pieces of the vein material under the laterite on Line 5. Visible gold has been observed in vein material found in Pit 6 on Line 5. While the veining and mineralization appears to be typical of the occurrence, the amount of visible gold seen confirms the nugget effect previously observed. Vein material with pyrite in silica boxwork was found in Pit 4. Exploration this week on Pit 9 has discovered pyrite rich material coming out of auger samples. These field observations confirm the presence of vein material that further assists in the understanding of the larger geological structure underlying the previously identified gold anomalies. The appearance of the gold and the abundance of the silica material suggest a close source and a large system.
"Finding visible gold is always exciting," said Angkor senior geologist Dennis Ouellette. "Finding it at the bottom of a small trench in a field with no outcrop is especially exciting. The extension of Pit 6 will allow us to determine more about the character of the gold mineralization and hopefully lead to the discovery of more veins within the alteration zone."
Angkor is extending the size of Pit 6 to follow and map the vein material. Digging of new pits will continue eastward until the Company no longer observes evidence of mineralization. Exploration will also likely expand to another short line to the south and some infill trenches between lines to the north. So far, 13 pits have been dug on Line 1, 12 on Line 2, 24 on Line 3, 24 on Line 4 and 17 pits on Line 5. Please see the location map that accompanies this release for details.
Assay results from trench and auger samples will be reported as they are received. The grab samples described above have not been assayed because they were selected for detailed examination of the mineralogy, not for chemical analysis, and the Company cautions that grab samples are selected samples and may not be representative of the mineralization hosted on the property.
Dr. Adrian G. Mann, P.Geol., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this press release.
PIT / TRENCH METHODOLOGY
Trenches consist of lines of pits laid across identified gold in soil anomalies in irregular east/west orientation. Individual pits are approximately 1m wide and 2m long, dug to the depth of the laterite. Pits are hand dug every 15 m centre. Each pit is sampled from the top to the bottom of the laterite for pan concentration. The pan concentration samples are a minimum of 15 kilograms. A second smaller sample is collected and will be sent for metallic screen analysis. In addition, the bedrock is sampled by an auger hole from the bottom of the pit. The last 50 centimetres of the auger sample will be sent for analysis. The auger holes test as deep as is possible into the weathered bedrock. The deepest so far has been 7.2 metres measured from the surface profile.
SAMPLE METHODOLOGY
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 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 ICP-ME and ICP22 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. Metallic screen analysis, using their Au-SCR22 method of standard fire assay with an ICP-Atomic absorption spectrometry finish after screening to 75 microns use a 1kg nominal weight sample, with assay of the entire oversize fraction and duplicate assay on 50gm aliquots of the undersize fraction. This last method has been done at the recommendation of the laboratory to avoid over or under-estimating gold grades because coarse gold was suspected.
ABOUT ANGKOR GOLD CORP.
Angkor Gold Corp. is a public company listed on the TSX-Venture Exchange and is Cambodia's premier mineral explorer with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
BLUE RIVER RESOURCES LTD.
Under an agreement with Angkor, Blue River Resources Ltd. has the right to participate initially in up to a 50% interest of the Banlung exploration license from Angkor Gold Corp., after the completion of a total investment of US$3.5 million in exploration expenditures over a 4-year period. Blue River may then exercise their option on an additional 20% interest of the Banlung tenement through the commission and completion of a bankable feasibility study on the property or portion thereof.
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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Contact
FOR FURTHER INFORMATION PLEASE CONTACT:
Angkor Gold Corp.
Stephen Burega
Vice President of Corporate Development
Telephone: (647) 515-3734
Email: sb@angkorgold.ca
Website at: http://www.angkorgold.ca or follow us on Twitter @AngkorGold