ANGKOR DISCOVERS A THIRD MINERALIZED PORPHYRY
GRANDE PRAIRIE, ALBERTA (June 4, 2015): ANGKOR GOLD CORP. (TSXV: ANK) (“ANGKOR”) announces it has discovered a third mineralized porphyry system in the southeast of the company’s Oyadao South tenement in Ratanakiri Province, Cambodia. This new discovery, the HALO copper-molybdenum prospect, covers an area of 1 kilometre by 750 meters. Mapping identified molybdenite and copper mineralization in veins and veinlets in intrusive and volcanic rocks. The Halo discovery lies 2km southeast of the corridor of mineralization that runs through both Angkor Gold’s Dokyong and Otray prospects and Mesco’s Gold Mine site.
Dr. Craig Hart, Director and Associate Professor at the University of British Columbia’s Mineral Deposit Research Unit, had the opportunity to collaborate with Angkor Gold on the Halo prospect. He commented, “I think the fact that ANK has discovered three porphyry systems in a jurisdiction not previously known to host such deposits is a massive measure of success and a testament to a strong exploration team. It also indicates the opportunities and upsides that are within Cambodia.” Dr. Hart also noted, “I particularly admire ANK’s proactive approach and advances on societal and community development. Angkor Gold is clearly a leader in this space in Cambodia.”
Mike Weeks, CEO of Angkor Gold, said, “These developments are exciting, the large scope of the project merits a partnership with a veteran company that can advance the project, while allowing Angkor Gold to maintain our focus of gold-bearing epithermal deposits. Our management team is now actively seeking a qualified joint partner for the Halo project.”
The discovery was made by follow-up geological field mapping after semi-regional stream sediment geochemical and aeromagnetic surveys, integrated with air-photo geological interpretation. The follow-up work included a geochemical survey involving over 20,000 termite mound samples, EM and IP geophysics, short-wave infrared (SWIR) alteration mineralization studies and a rock chip geochemical survey.
The HALO prospect area is located on the edge of a monzogranite pluton and hosted in felsic and intermediate volcanic rocks, which are overlain by prominent silica cap outcrops on many hilltops in the area. The volcanic rocks were intruded by later diorite, granodiorite, and a quartz feldspar porphyry stock, which brought in molybdenite and copper mineralization in veins and veinlets that are found in both the intrusive and volcanic units.
Reprocessing of aeromagnetic data showed a “doughnut” feature coinciding with the area of interest, and with a “core” of high magnetic field in the centre of a halo of lower magnetic field.
An IP line (#20) crosses the area where there is abundant molybdenite veining and other disseminated sulphides in outcrop.
That IP profile demonstrates that the “core,” while coinciding with a rugged hilltop, was not merely a function of topography. The magnetic core relates to a resistive zone, flanked by a strongly chargeable periphery that coincides with the magnetic low. Termite mound sampling, comprising well over 21,000 sample points, shown by the small black dots on the map, has now covered an area of over 30km2 with lines every 200m, and in places every 100m.
Copper in the termite mounds is concentrated around the “core,” covering a doughnut of some 1.5km extent WNW-ESE; 1.0km NNE-SSW. Copper highs in excess of 700ppm are recorded, and the main anomaly is generally well over 250ppm.This anomaly features a concentration of molybdenum, which is confined almost exclusively to the doughnut around the “core.” Molybdenum highs in excess of 400ppm are recorded, and the main anomaly is generally over 100ppm. The dimensions of the molybdenum anomaly are slightly more than 1,000m (1 km) east-west and 700m north-south.
The distributions of molybdenum and copper in rock samples in the survey area, shown in the map above, are equally compelling. The radii of the circles are proportional to the metal content: copper ranges from 1 to 7470 ppm, molybdenum from 1 to 1450ppm.There is no lead or zinc anomaly associated with the “core,” although both these elements form broad anomalous crescents to the north of the porphyry.
This is the third mineralized porphyry discovered by ANGKOR on its tenements in Ratanakiri Province. At Okalla, which is the first porphyry discovered seven years ago, 40km due west of Otray on the company’s Banlung license area, exploration continues on epithermal gold veining on the margin of a copper-gold-molybdenum bearing feldspar porphyry diorite intrusive.
On the second porphyry discovered at CW prospect, 28km to the north, on the Andong Meas tenement, a second phase of 3 drill holes was recently completed, following extensive IP, SWIR, termite mound and rock chip geochemical surveys and a very detailed geological mapping program last season. The host is a clast-supported hydrothermal breccia of some 50 to 70m thickness. The dominant granite initially shows intermediate argillic alteration (smectite-illite-sericite) with type A quartz veining (quartz-pyrite-(chalcopyrite)), followed by classic type B veining of quartz-pyrite-molybdenite, with the molybdenite on the vein margins. CW15-004 had only started to enter the target shear zone (the last 17.2m averaged 0.011% Cu; 0.008% Mo) when it encountered drilling problems and was curtailed at 238m. CW15-006 targeted the same sheared breccia zone, which has been traced on surface for over 600m along strike. The hole entered mineralization almost immediately, at 16.11m, and continued for 211m averaging 0.011% Mo, and was still in mineralization at the end of hole at 228m. Best value was 0.139% Mo over 0.80m, with numerous values in the 0.035 to 0.075% Mo range.
CW15-005, drilled 200m west and 300m south of CW15-004 and CW15-006, started in potassic granite with moderate phyllic alteration, and quartz veins with pyrite-chalcopyrite-molybdenite, then hit the hydrothermal breccia which has intervals of 30 to 60cm of massive pyrite-pyrrhotite-magnetite-(chalcopyrite). The hole shows pervasive copper values, averaging 0.031% Cu over the entire 251m length, several zones of elevated copper and molybdenum values, and was in mineralization when drilling stopped. There is a particularly strongly mineralized 11.65m zone towards the end of the hole at 227.15m showing 0.12% Cu and 0.016% Mo.
Angkor Gold’s first two discoveries are Okalla and CW prospects. Geological core logging is still being completed at Okalla and trenching will continue until the rains preclude further work. Drilling at CW was paused while logging and analytical results were evaluated but will resume after the monsoon season, probing the hydrothermal breccia zone beneath the silica cap. Surface rock chip and channel sampling at CW are ongoing and will continue as long as the rains allow. Exploration at Halo is wrapping up, and an aggressive evaluation program is being planned for the new season.
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 rock samples were submitted to ALS preparation laboratories in Phnom Penh, and gold analyses were done by ALS by standard fire assay in their Vientiane laboratories; all other analyses were by ICP-MS in their Australian laboratories. SWIR analyses are done in-house using Terraspec equipment. IP work was done by BETEC. EM was done in-house by VLF, using JJI and NWC transmitter signals.
The QP for this release, which he wrote and approved, is Dr. Adrian G. Mann, P.Geol., VP Exploration for ANGKOR.
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 20,789 metres of NQ core in 171 holes; and has collected in excess of 100,000 termite mound, and ‘B’ and ‘C’ zone soil samples in over 20 centres of interest over a combined area of over 100km2, 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). It holds a royalty on the developing Mesco Gold Mine site, an Angkor Gold discovery.
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 568-3801
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