Angkor Gold Reports Indications of a High Sulfidation Style Epithermal Vein System With High Grade Gold on Its Banlung Property
SEXSMITH, Alberta, March 01, 2018 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSXV:ANK) and (OTC:ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to announce the Company has engaged Mr. Jocelyn Pelletier, M.Sc, P.Geo, to conduct a metallogenic study to better understand the mineralization system on its properties, particularly a high sulfidation style epithermal vein system at its Banlung License. Mr. Pelletier is a consulting geologist with 17 years’ experience working internationally on copper porphyry and precious metal occurrences.
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In October 2017, Mr. Pelletier toured Angkor’s properties and recognized a high sulphidation epithermal style of mineralization at the Okalla East project on the Banlung property. Pelletier’s observations were the result of an evaluation of Angkor’s drill core and numerous visits to the field. High sulphidation epithermal mineralization is common to many of the world’s high grade gold deposits.
“Previous drilling on the property intersected a high-sulphidation epithermal mineralized bonanza zone,” said Angkor VP Exploration Dennis Ouellette. “Pelletier has recognized the deposit style as comparable to other high sulphidation deposits in the world such as the Yulong/Pulang Belt in China.”
On the Banlung property, a “bonanza zone” was noted by Pelletier in drill core related to a particularly pyrite rich vein. The bonanza zone includes an intercept of high grade gold of 86.0 g/t Au over 1m, at 101m to 102m in drill hole BL11-026 (reported in Company press release of Oct. 24, 2011 as an interval topcut to 34.29 g/t Au - http://www.angkorgold.ca/diamond-drill-results-from-okalla-prospect-cambodia/). Note that this is a selected interval of mineralization and is not necessarily representative of the mineralization hosted on the property. The bonanza zone shows an antimony (Sb) geochemical anomaly that can be observed in all drill holes that intercept the mineralised structure. Some of the upcoming exploration work will be dedicated to understanding this zone and its gold potential.
In March Pelletier will begin a metallogenic study to better understand the Okalla mineralization system, which shows a superposition of numerous mineralizing events that generated polymetallic (Au-Ag-Cu-Zn-Pb-Mo) mineralization and overlapping alteration zones. The next phase of exploration will focus on finding the surface expression and the roots of this bonanza zone and other gold mineralized events.
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.
Dennis Ouellette, B.Sc, P.Geo., 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 VP Exploration and has reviewed and approved the technical disclosure in this document.
On behalf of the Board,
Mike Weeks, Executive Chairman
Angkor Gold Corp.
CONTACT:
Stephen Burega, CEO
Telephone: (647) 515-3734
Email: sb@angkorgold.ca
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a36ee66c-4270-41ed-bc1b-8581adb799ed