TORONTO, May 27, 2020 (GLOBE NEWSWIRE) -- Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to report on the recently completed mapping and sampling program on its 100% owned Andong Meas property.

Highlights

  • Multiple grab samples with gold from 3.08 to 55.4 g/t grams of gold per tonne;
  • Significant gold target has been identified from samples collected over a north to south distance of more than 600 metres; and
  • Evidence of multiple mineralized epithermal quartz veins and skarn type alteration across the license including the Wild Boar and Wild Monkey prospects.

“This program was designed to re-sample the higher grade showings around the Wild Boar prospect and to map and resample the quartz vein material found in the Canada Wall copper porphyry target,” stated Stephen Burega. “The northern most quartz vein float samples were collected over a north to south distance of more than 600 metres representing a new and significant gold target for the Company.”

Assay Results

The samples below are selected samples and are not necessarily representative of the mineralization hosted on the property:

Sample
Number
Gold g/tSilver g/t
AM19-WB-019.093.0
AM19-WB-028.695.6
AM19-WB-033.081.5
AM19-WB-0417.54.4
AM19-WB-0555.49.8
AM19-WB-0646.913.5

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/125fca71-a3a5-42c5-b54b-8d34b1dde1a6

The mineralization from the area is polymetallic veins with Au, Ag, Cu, Pb, Zn with anomalous values of As, Bi, Mo, Sb, and Te.

“The float grab samples collected to date suggest that the occurrence is of the intrusive hosted mesothermal gold vein type of deposit”, state Dennis Ouellette, ANK’s VP of Exploration. “Mesco Gold’s Phum Syarung gold mine which is currently in development is an example of this type of deposit. The Mesco mine is located approximately 18 kilometres south of the Wild Boar prospect.”

“Interestingly while there is evidence of artisanal mining at the southern portion of the traverse, in contrast, in the northern area where the highest grade samples were collected, there was no evidence of artisanal mining,” he continued. “Plans are currently in the works for additional follow-up on the highly prospective targets.”

Ongoing exploration of the Andong Meas tenement included mapping and sampling around previously located high-grade float samples in the Wild Boar prospect area. Additional sampling was conducted in the area of historical gold veins north and west of the Canada Wall copper molybdenum porphyry target. Removal of the local forest by agriculturalists has made locating these historical workings much easier.

PREVIOUS EXPLORATION

The Andong Meas License hosts the Company’s Canada Wall copper molybdenum gold porphyry system and the adjacent South Creek copper porphyry system prospect as well as several gold targets, including the Wild Boar which has seen extensive artisanal mining in the past and Wild Monkey that showed multiple surface samples with gold grade up to 3.93 gpt. Exploration programs were designed to re-sample the higher grade showings around Wild Boar and map and sample the quartz vein material found in Wild Monkey. Rock chip and grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.

In addition to the gold bearing quartz veins, skarn alteration on the contact between granites and marbles in the area was observed. No mineralization was observed within the skarn alteration, but the presence of carbonate rocks and mineralized intrusive rocks suggests that there is the possibility of skarn mineralization in the area.

SAMPLE METHODOLOGY

Angkor 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. In 2019 it added Block VIII, a 7,300 square kilometre oil and gas exploration license in Cambodia, to its exploration portfolio.

CONTACT:

Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: sb@angkorgold.ca
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.

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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Wild Boar Rock Samples

The mineralization from the area is polymetallic veins with Au, Ag, Cu, Pb, Zn with anomalous values of As, Bi, Mo, Sb, and Te.