VANCOUVER, B.C., Nov. 5, 2013 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSX-V:ANK) ("ANGKOR") has completed preliminary exploration on the Blue Lizard Prospect, South Oyadao Exploration Lease, Ratanakiri Province, Cambodia. The prospect was first encountered as artisanal workings by termite sampling crews on the far eastern portion of the Otray grid (PR dated May 29, 2013), where over 11,000 termite mound samples were collected and analyzed in a 15km2 area on lines with 200m spacings. The 2013 exploration program had aggressively targeted the Phum Syarung-Dokyong fault corridor identified from the aeromagnetic data in the central portion of the Oyadao South tenement.
The majority of the area consists of unaltered to weakly propylitic granite which extends north as far as the Phum Syarung prospect. The granite is cut by quartz veins, andesite porphyry dykes, and andesite dykes, and shows increased chlorite alteration and silicification on the margin of some quartz veins. Andesite/volcaniclastic contacts in the south of the prospect area were also mapped. The interpreted lithology, structural measurements, and quartz veins are shown in the map below.
Scott Donahue, ANGKOR's COO stated, "This is yet another distal Au-Pb-Zn-Cu-Ag vein system, similar in many respects to Phum Syarung deposit, about 4km to the north. These vein systems reinforce the attractiveness of the Otray prospect as an epithermal volcanic centre, and add credence to the potential for a porphyry system beneath Otray."
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The Blue Lizard prospect consists of stacked quartz veins with mineralization of disseminated chalcopyrite, covellite, chalcocite, and pyrite. Sampling of the surface workings and trenching in the area showed interesting results. In addition to what was found at Blue Lizard, a few other quartz veins were discovered from the semi-regional mapping. Rocks sampled from the spoil heaps at the workings produced significant gold and copper results with minor silver values. The mine area was further explored with several trenches which showed dominantly southeast dipping quartz veins with a similar geochemical signature to the spoil heap samples. Significant results are recorded in the table below.
|Sample ID||Easting||Northing||Depth (m)||Au g/t||Ag g/t||Cu %|
All analyses were done by ALS-Chemex in Vientiane, Laos for gold by single assay ton fire assay with an AA finish, and in Brisbane, Australia for base metals by ICP-MS following acid digestion. Higher value results were analysed in duplicate. Company QA/QC protocol requires the insertion of some 20% of blank and standard samples on a randomized basis throughout the sample sequence.
The QP for the technical content of this release, which he wrote and approved, is Adrian G. Mann, P.Geol., VP Exploration for ANGKOR. He is a graduate of London University and the University of the Witwatersrand, with over 45 years world-wide experience in mineral exploration and mining geology. Dr. Mann lives in Calgary, Alberta.
ANGKOR's 7 exploration licences in the Kingdom of Cambodia cover 1448 km2, which the company has been actively exploring over the past 4 years. The company has now covered all tenements with stream sediment geochemical sampling; has flown low level aeromagnetic surveys over most of the ground; drilled 18,737 metres of NQ core in 148 holes; and has collected in excess of 20,000 augered 'C' zone soil samples and over 32,000 TMS in 12 centres of interest, over a combined area of 70km2, 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).
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CONTACT: ANGKOR GOLD CORP. Mike Weeks, President Telephone: (780) 568-3801 Email: email@example.comSource:Angkor Gold Corp.