Angkor Gold (ANK-V) May 6, '14 has increased momentum in its exploration programs in Ratanakiri province, Cambodia, following the announcement of April 14, 2014, of the signing of a definitive agreement with Tohui Beishan Property Group Holding Ltd. (TG) of Hong Kong. In anticipation of the closing of the agreement Angkor has contracted Beijing Explo-Tech Engineering Co. Ltd. (BETEC), and the China Chemical Geology and Mine Bureau Shandong Geological Prospecting Institute (SGI) has commenced work with Angkor's geological team.
Work on Andong Meas exploration licence area shows two zones of particular interest, the Wild Boar and China Wall prospects, on both of which there has been extensive artisanal mining. Soon after Angkor acquired the property in April, 2012, a program of three scout diamond drill holes totalling 521 metres on the China Wall prospect returned demonstrably high silver values over good thicknesses (CW12-001: 6.13 grams per tonne Ag over 18.7 m; CW12-002: 15.98 g/t Ag over 20.4 m (one aberrant 1460 g/t Ag value cut to 60 g/t) and CW12-003: 14.52 g/t Ag over 7.5 m); some exceptional molybdenum (0.025 per cent Mo over 8.0 m in CW12-001; 0.023 per cent Mo over 8.1 m in CW12-003; also 0.014 per cent Mo over 45 m in trenching) and excellent tungsten values (0.017 per cent W over 11.3 m in CW12-001; 0.027 per cent W over 9.5 m in CW12-002; 0.025 per cent W over 9.6 m in CW12-003). Exploration has continued since then, including reconnaissance termite mound geochemistry coupled with geological mapping, a clay alteration survey and ground magnetic and electromagnetic geophysical surveys. This work shows a strong multielement termite mound geochemical anomaly over, and to the east and southeast of, China Wall prospect; and another over the Wild Boar prospect, which covers stacked polymetallic epithermal to mesothermal quartz-carbonate veins. Panning from stream outwash gravels immediately to the southeast of China Wall showed good concentrations of gold, some of it crystalline, which is indicative of close proximity to source.
The next obvious step is a strong push of detailed geological mapping, termite mound geochemistry and induced polarization (IP) geophysics over both areas. BETEC and SGI will work in close association with Angkor's geological team to run this survey over an area of 25 square kilometres with a view to defining drill targets for later in the season. A team of 11 geoscientists from these two contractors is currently deployed with the company's own team of 54 staff, including four of Angkor's international geologists on Andong Meas tenement.
On the Wild Boar prospect the IP and geochemical work is targeting several polymetallic quartz-carbonate veins on which there are extensive artisanal workings, and from which grab samples assayed by ALS-Chemex by SFA showed gold grades from 3.22 g/t to 13.58 g/t. Some samples had elevated silver and lead values as well.
On the Okalla prospect in Banlung exploration licence area, where Angkor has drilled 7,823 m in 43 diamond drill holes on a gold-copper-molybdenum-bearing diorite porphyry, BETEC and SGI will deploy, within a week, a further team of six earth scientists to extend eastward and to the north the IP and geology work done originally on this prospect. The team, with additional Angkor staff, will cover a block of roughly 15 square km. Again, the aim is to define targets which Angkor intends to drill this year.
"This gives a huge boost to our continuing exploration efforts," commented Dr. Adrian G. Mann, Angkor's vice-president of exploration. "With success here, I foresee us continuing our close collaboration with BETEC and SGI to repeat this blitzkrieg style of aggressive multidisciplinary exploration onto several of our other prospects which have equal or greater potential."
The qualified person for this release is Dr. Adrian G. Mann, PGeol, vice-president of exploration for Angkor.
Angkor's seven exploration licences in the Kingdom of Cambodia cover 1,448 square km, which the company has been actively exploring over the past five years. The company has now covered all tenements with stream sediment geochemical sampling; has flown low level aeromagnetic surveys over most of the ground; drilled 18,737 metres of NQ core in 148 holes; and has collected in excess of 20,000 augered C zone soil samples and over 48,000 termite mound samples in 17 centres of interest, over a combined area of 80 square km, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is continuing. |
