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LARGE GOLD ANOMALY IDENTIFIED IN OKALLA WEST

GRANDE PRAIRIE, ALBERTA (October 13, 2015): ANGKOR GOLD CORP. (TSXV: ANK) (“ANGKOR”) announces the discovery of a 2 km2 gold anomaly with visible gold in 83% of the anomaly area samples on its 100-percent owned Banlung Tenement.

Systematic soil sampling of 12,550 termite mounds in a 6.8km x 8.4km (57 km2) grid at 400m grid spacing covering the Banlung Intrusive Complex, has highlighted a large gold anomaly, with rounded to angular visible gold grains in 26% of the total samples collected in the survey. That percentage jumps to visible gold in 83% of the samples when defined by the anomalous cluster of sample sites in the 2 km2 area of interest highlighted in the mid-southeast of the complex.

John Paul Dau, VP Operations for ANGKOR, commented, “What makes these results meaningful are the shape of the gold, the size of the gold anomaly, and its relation to the rest of Okalla Prospect. It’s big – there is significant visible gold, and we are close to the source.”

The Okan fault to the south east ties both this recently identified gold anomaly and the Okalla Prospect mineralisation to the same regional system structure. Airborne magnetic, field rock samples, surface mapping and the soil geochemistry results indicate that the gold anomaly is most likely associated with a strongly fractured, structurally controlled system within the Banlung Intrusive Complex. Initial investigations indicate a similar mineralisation style to the Cordova Mines found in Ontario, Canada.

The Banlung Intrusive Complex, initially thought to be a single homogenous intrusive until very recently, was mapped by both French geological survey, Bureau de Recherches Géologiques et Minières, (BRGM) and Russian geological survey geologists in the 1970’s and1990’s as a single unit. The Okalla West prospect has been proven by Angkor geologists, to be a multi-phase intrusive system, both structurally and mineralogically, making it far more prospective than earlier information of the area would suggest.

“Our extensive first pass soil geochemical analysis of the area has yielded solid results, not commonly expected with a gabbro style intrusive,” said Kurtis Dunstone, senior geologist for ANGKOR. “And given the significant size of the area, we are looking forward to this season’s work program to better define our understanding and full extent of the anomaly.”

Petrographic, whole rock geochemistry and heavy mineral separate investigations on the intrusive complex samples has identified multiple phase intrusives of mafic gabbro, leuco-gabbro, monzogabbro, nepheline-monzosyenite and monzodiorite within the 25 km2 complex. The gold anomaly outlined is trending north west to south east, which is consistent with the interpreted fault system identified in the airborne magnetic survey.

“This large gold anomaly warrants further investigation, and a work program including infill geochemistry, a ground gravity survey and detailed field mapping has been earmarked for the start of the 2015/16 field season, after the monsoon rains,” continued Dau. “Early indications are that we are looking at a good “plumbing system” as evidence for structurally controlled mineralisation is present.”

“In addition to the gold results, the soil survey has indicated multiple element anomalies including copper and nickel. While the copper and nickel anomalies are interesting and worth following up on their own accord, at this stage, the gold anomaly is Angkor’s primary focus,” says Dau. “In the event of good field investigation results, an inexpensive and systematic Reverse Air Blast (RAB) drilling program will be required to further define the gold mineralisation prior to RC or diamond drilling,” he concludes.

okalla-west-gold-anomaly-cambodia

 

    Map 1. Multi-element anomalies in soil geochemistry

The connection and relevance of the nickel and copper anomalism in relation to the gold anomaly in the intrusive complex, along with coincident nickel, cobalt, chrome and vanadium, will be thoroughly investigated by Angkor Geologists in conjunction with a postgraduate academic investigation conducted by the Institute of Technology of Cambodia (ITC), due to get underway at the start of the field season. This joint investigation is anticipated to accelerate Angkor’s understanding of the intrusive complex and wider mineral potential. The postgraduate program is jointly sponsored by Angkor Gold Corp. and Japan International Cooperation Agency (JICA).

All petrology, heavy mineral separate work and scanning electron microscope grain shape analysis were conducted by Dr. Paula Piilonen, Research Scientist, Mineralogy Section, Research & Collections Division, of the Canadian Museum of Nature, Ottawa, Canada on a JEOL 6610Lv scanning electron microscope (SEM) at the University of Ottawa-Canadian Museum of Nature Earth Sciences MicroAnalysis Laboratory.  Operating conditions were as follows: 10 or 20 kV, a spot size of 45-55 mm and a working distance of 9 mm.

The QP for this release, which he wrote and approved, is Kurtis Dunstone, BSc Geology, Senior Project Manager for ANGKOR. Mr. Dunstone has fifteen years post graduate experience and is a current member of the Australian Institute of Geoscientists.

All termite samples were analysed for base metals by in-house XRF after sieving to -80#. 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 pan concentrate samples were processed by trained Angkor staff and supervised by department managers.

ANGKOR’s seven exploration licences in the Kingdom of Cambodia cover 1,448 km2, which the company has been actively exploring over the past 6 years. The company has now covered all tenements with stream sediment geochemical sampling; the company has flown low level aeromagnetic surveys over most of the ground; drilled 21,855 metres of NQ core in 190 holes; and has collected in excess of 110,000 termite mound, and ‘B’ and ‘C’ zone soil samples in over 20 centres of interest over a combined area of over 140km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.

ANGKOR GOLD CORP., a public company listed on the TSX-Venture Exchange, is Cambodia’s premier gold explorer with a significantly large land package and a first-mover advantage with excellent relationships at all levels of Government (local to national).

FOR FURTHER INFORMATION PLEASE CONTACT:

ANGKOR GOLD CORP.

Mike Weeks, President

Telephone: (780) 568-3801

Email: mw@angkorgold.ca

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM

Category: Banlung

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By Angkor Gold on October 13, 2015