Angkor Gold Announces Diamond Drill Program on Oyadao South Project
Sexsmith, AB, (June 1, 2017): Angkor Gold Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) is pleased to announce the commencement of a focused and a regional exploration program on Angkor’s 100% owned Oyadao South license with its partner, Japan Oil, Gas and Metals National Corporation (“JOGMEC”).
The focused exploration program will consist of a drill program, a geophysical survey and surface geology on the Halo copper porphyry style target. The initial diamond drill program will consist of approximately 1,200 metres of HQ3 drilling designed to support the interpretation of the Company’s previous IP program. Three 400 metre drill holes are planned along the IP lines in the centre of the most prospective area of the Halo porphyry style system. The holes are intended to better determine where to follow up with an additional drilling program planned for later this year. Drilling is expected to commence June 10.
The regional exploration program will consist of geochemical sampling and geological mapping in areas considered prospective for copper porphyry style mineralization. Areas with identified airborne magnetic anomalies are targets of interest to the Company, especially where intrusions also occur. Of particular focus is a 13 square kilometre area about 4.5 kilometres northwest of Angkor’s Halo prospect. The target area includes a magnetic anomaly as do most copper porphyry style mineralization systems.
“The Angkor-JOGMEC team is looking for more copper porphyry style systems like Halo in the area as they seldom occur alone,” said Dennis Ouellette, Angkor’s Exploration Manager.
A total investment of US$3 million in exploration over a 3 year period has been committed by JOGMEC under a Joint Exploration Agreement (“JEA”) with Angkor. The JEA gives JOGMEC the option to acquire 51% of the Oyadao South license from Angkor.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold Corp. is a public company listed on the TSX-Venture Exchange and is a leading mineral explorer in Cambodia with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
JOGMEC was established in February 2004, following the integration of the former Japan National Oil Corporation and Metal Mining Agency of Japan. It is an Independent Administrative Agency under the Japanese Ministry of Economy, Trade and Industry, with a mandate of investing in exploration minerals projects worldwide to help secure a stable supply of natural resources for Japanese industry. JOGMEC has equity capital of 892 billion Yen (CDN $10.8 billion) at May, 2017.
Dennis Ouellette, B.Sc, P.Geol., 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 Exploration Manager and has reviewed and approved the technical disclosure in this document.
FOR FURTHER INFORMATION PLEASE CONTACT:
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.