By Nathan Pearson
ResourcexInvestor.com
Feb 23, 2012
World-class exploration company, Angkor Gold Corp. (TSX-V:ANK), recently
received promising assay results from its Border prospect drill program in
Cambodia, hot on the heels of the companies October 2011 findings of a copper-
gold porphyry system at the Okalla prospect.
Drilling began on Nov. 18, 2011, aimed primarily at the Border North Vein
System. Says Mike Weeks, President and CEO of Angkor: “we are thrilled to be
moving forward with our Border prospect and building upon the results of the
extensive exploration work we have completed at this prospect over the past two
years. This drill program ties in with Angkor’s philosophy of putting as much
money as possible into the ground, employing local businesses, and advancing
several of our outstanding Cambodian gold projects simultaneously.”
Highlights:
• Assay results of 34.29g/t Au returned from first round drilling; averaged to
10.3g/t over 1.2m
• Assays received for 5 of the first 9 diamond drill holes
• Surface grab samples taken in December 2011 recorded gold values up
to 13.7 g/t Au
• Drill program ongoing
Border Prospect Drill Program
The Border Prospect drill program, located on Oyadao tenement in Ratanakiri
Province, Cambodia has been a major focus of Angkor’s exploration over the
past 2 years. Previously the central vein system was targeted, showing some
modest grades over good thicknesses: the current program is aimed primarily at
the north vein.
Assay results show that mineralization is contained in a structurally controlled,
shear bounded, steeply dipping, narrow, quartz-carbonate vein system. The
higher gold values is associated with polymetallic, sulphide-rich (pyrite-
sphalerite-galena-chalcopyrite) quartz veins over a mineralized strike of at least
600m. A further 6 to 11 holes still to be drilled within this program. Following the
completion of these holes, an additional 2 holes will be drilled on the Border
Central prospect, from which recent grab samples returned a value of 13.70g/t
Au.
A further 5 holes will test new targets outlined by the soil geochemistry survey
completed last season on Border South prospect A pilot surface EM survey is
currently testing this large multi-element geochemical anomaly
Artisanal mining on the north vein has followed a robust quartz vein system over
a strike length well in excess of 500m with additional discontinuous gopher-hole
diggings and grubbing that continue to the west to give a strike length of greater
than 1200m. The workings are narrow, seldom exceeding 1.5m in width, and
generally comprise unprotected, unsupported open underhand stopes that have
clearly been blasted into competent fresh country rock. One of Angkor’s diamond
drill holes intersected one such stope. Based on the artisanal workings, there is a
potential strike length of 1200m to the north vein system, about a metre in
thickness, to a depth of at least 30m. There is also an indication of some free
gold associated with silver, lead, zinc and copper sulphides.
Okalla Prospect Drill Program
The latest success at Border prospect is no surprise after Angkor’s positive
results at its Okalla prospect, Banlung tenement, also located in Ratanakiri
province. In October, 2011 Angkor announced that two of its 27 diamond drill
holes – drilled to investigate the alteration zone in a diorite that is associated with
a ‘C’ zone soil geochemical gold-copper-molybdenum anomaly on the prospect –
had revealed a large copper-gold porphyry system (porphyry deposits are
crystallized rock containing copper, gold and other metals and are a boon to
mining and exploration because they can be worked on a large scale at low cost).
The best results were the 26th hole returning 0.085% Cu, 0.55 g/t Au over 95m
and 0.074% Cu, 0.23 g/t Au over 80.3m and the 27th hole returning 0.082% Cu,
0.20 g/t Au over 132.8m – enough to put broad smiles on the faces of Angkor’s
stakeholders.
A Lucrative Investment Opportunity
Angkor is a leader in its field, and as such, knows a good opportunity when it
sees one. For this successful exploration operation, the up-and-coming Kingdom
of Cambodia has proven a worthwhile investment. A relative new-comer on the
world mining and exploration stage, Cambodia is just realizing its own potential,
barely having scratched the surface of its resources, including gold, silver,
copper, bauxite, coal, lead, zinc, oil and gas. Additionally, Cambodia is beginning
to experience a boom in tourism, manufacturing, real estate development,
banking, finance, and agriculture. It is for these reasons that the country is fast
becoming one of the most lucrative investment opportunities available, resulting
in capital pouring in from around the globe.
Commitment to Local Development
Angkor fervently believes that true success is only present when mutual benefit
has been achieved. The business success that Angkor enjoys is under-pinned by
a spirit of prosperity for all, and the company invests heavily in local health and
welfare programs to enhance the lives of surrounding communities. Throughout
Mike Week’s extensive, 14 years experience in negotiating with third world
governments in developing and implementing natural resource concessions,
Weeks has been instrumental in implementation of training programs for local
labour force development and professional accreditation, as well as made
significant strides in self-sustaining community growth and enhancement. On
site, Angkor provides a commitment to safe and fair work practices and good
stewardship of the land. Hundreds of jobs, both direct and indirect, have been
created, and employee’s earnings trickle steadily into the local economy. Offsite,
Angkor provides clean drinking water, medical aid and education for both children
and adults.
About Angkor
Angkor Gold Corporation is a world-class private exploration company that has
taken an aggressive property landholding in the Kingdom of Cambodia in South
East Asia. The company holds seven licenses spanning 2666km2, and is
currently the second largest landholder in Cambodia. Angkor’s primary focus is
gold and copper, and over the past two and half years the company has been
aggressively exploring their landholding, drilling some 9373 metres of NQ core in
84 holes.
Angkor is a company with a conscience and makes it their top priority to secure
the cleanest, most environmentally sound methods of extracting resources and
then reclaiming the land to ensure continued added value to the lives of
Cambodians. Angkor endeavours to set exemplary standards with regard to day
to day business, the environment, labour force, and local community.
Management Team
Angkor’s management team has collectively built, sold and managed several
companies from the financial sector, oilfield and mining industry, sharing a wealth
of business knowledge and insight into the world of exploration.
Mike Weeks wears the proverbial hats of CEO and Director. He boasts 25 years
of experience in project management of power generation and petroleum-related
industries. He has an engineering background and holds a First Class Power
Engineering Certificate. Mike has managed large projects in Canada, Africa and
Europe, constructing and managing several large production facilities in North
Africa. Mike was, and continues as a founding director of a petroleum training
company as well as two financial service companies.
V.P. Exploration and Director is Adrian G. Mann, Ph.D., M.B.A… Dr. Mann has
been self-employed as owner of Ruthrie Enterprises Ltd., a private mineral
exploration and mine development company in Calgary, Alberta, since October
1989. Dr. Mann was, until September 2010, VP Exploration of Planet Exploration
Inc. (TSX-V:PXI), a position he held since resigning as President of the same
company in 2002. He also was a Director of Copper Fox Metals Corporation
(TSX-V:CUU) from 2005 to November 2009. Since graduation, Dr. Mann has
worked extensively in both production and exploration geology in much of
southern African, South, Central and North America and parts of Asia, including
Cambodia, Mongolia and Russia.
Guillermo Salazar, M.A. (Econ. Geol.), P.Eng, P.Geol., Independent Director, is
the former President and CEO of Copper Fox Metals Inc. and a member of the
Mexican acquisitions team for Almaden Resources Corporation. Guillermo is also
the President of G. Salazar & Associates Ltd. In his capacity of Professional
Engineer and Geologist, he has evaluated hundreds of mineral exploration
projects in North, Central and South America.
Stuart Ross, Independent Director, is the President and CEO of El Tigre Silver
Corp. (TSX-V:ELS) and the President and Director of J&S Ross Consulting Inc.
For the last 25 years, Stuart has assisted public companies listed on the TSX
Venture exchange and the NASDAQ exchange. Stuart has held various senior
positions including President, CEO, CFO and Executive Vice President within
various sectors of industry including, mining, beverage production and
distribution, medical services, industrial fabrication and merchant banking.
Terry Mereniuk, C.A., etc Independent Director, has been a Director and CFO of
several public and private companies. He has owned and operated his own
accounting firm for 9 years. Terry obtained a Bachelor of Commerce (with
distinction) from the University of Alberta in 1981. He has been a Certified
Management Consultant since June 1988 and a Chartered Accountant since
December 1983. Terry was director and CFO of Wescorp Energy Inc., an OTC
Bulletin Board listed company from 2003 to 2009, and is currently a director of
Roadking Travel Centres Inc., a Venture exchange listed company.
Other members of this exemplary team include Jonathan Ronkai, : CFO, Don
Erno: Corporate Secretary, Scott Donahue: V. P. of Corporate Affairs and John-
Paul Dau: Country Manager.
Looking Ahead
With a mandate to provide value to their shareholders while adhering to their
business philosophy of ethical conduct and a pursuit of humanitarian
commitments in Southeast Asia, Angkor delivers a sound investment opportunity
with a conscience.
At a share price of 0.37 as of January 18, Angkor offers great value for those
looking to take advantage of the burgeoning mining and exploration sector in up-
and-coming Cambodia. Paired with the encouraging recent assay results from its
Border prospect drill program, Angkor looks to be a sound investment with a
bright future.
Follow Angkor’s successes at www.angkorgold.ca