GRANDE PRAIRIE, Alberta, May 6, 2014 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSX-V:ANK) ("ANGKOR") is pleased to announce increased momentum in its exploration programs in Ratanakiri Province, Cambodia, following the announcement of 14th April 2014 of the signing of a definitive agreement with Tohui Beishan Property Group Holding Limited ("TG") of Hong Kong. In anticipation of the closing of the agreement Angkor has contracted Beijing Explo-Tech Engineering Co., Ltd. ("BETEC"), and the China Chemical Geology and Mine Bureau Shandong Geological Prospecting Institute ("SGI") have commenced work with Angkor's geological team.
Work on Andong Meas Exploration License area shows two zones of particular interest, the Wild Boar and China Wall prospects, on both of which there has been extensive artisanal mining. Soon after Angkor acquired the property in April 2012 a program of 3 scout diamond drill holes totalling 521m on the China Wall prospect returned demonstrably high silver values over good thicknesses (CW12-001: 6.13g/t Ag over 18.7m; CW12-002: 15.98g/t Ag over 20.4m (one aberrant 1460g/t Ag value cut to 60g/t) and CW12-003 : 14.52g/t Ag over 7.5m); some exceptional molybdenum (0.025% Mo over 8.0m in CW12-001; 0.023% Mo over 8.1m in CW12-003; also 0.014% Mo over 45m in trenching) and excellent tungsten values (0.017% W over 11.3m in CW12-001; 0.027% W over 9.5m in CW12-002; 0.025% W over 9.6m in CW12-003). Exploration has continued since then, including reconnaissance termite mound geochemistry coupled with geological mapping, a clay alteration survey and ground magnetic and electromagnetic geophysical surveys. This work shows a strong multi-element termite mound geochemical anomaly over, and to the east and southeast of, China Wall prospect; and another over the Wild Boar prospect, which covers stacked polymetallic epithermal to mesothermal quartz-carbonate veins. Panning from stream outwash gravels immediately to the southeast of China Wall showed good concentrations of gold, some of it crystalline, which is indicative of close proximity to source.
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The next obvious step is a strong push of detailed geological mapping, termite mound geochemistry and Induced Polarization (IP) geophysics over both areas. BETEC and SGI will work in close association with Angkor's geological team to run this survey over an area of 25km2 with a view to defining drill targets for later in the season. A team of 11 geoscientists from these 2 contractors is currently deployed with our own team of 54 staff, including 4 of ANGKOR's international geologists on Andong Meas tenement.
On the Wild Boar prospect the IP and geochemical work is targeting several polymetallic quartz-carbonate veins on which there are extensive artisanal workings, and from which grab samples assayed by ALS-Chemex by SFA showed gold grades from 3.22 g/t to 13.58 g/t. Some samples had elevated silver and lead values as well.
On the Okalla prospect in Banlung Exploration License area, where Angkor has drilled 7823m in 43 diamond drill holes on a gold-copper-molybdenum bearing diorite porphyry, BETEC and SGI will deploy, within a week, a further team of 6 earth scientists to extend eastwards and to the north the IP and geology work done originally on this prospect. The team, with additional ANGKOR staff, will cover a block of roughly 15km2. Again, the aim is to define targets which Angkor intends to drill this year.
"This gives a huge boost to our continuing exploration efforts," commented Dr. Adrian G. Mann, Angkor's VP of Exploration. "With success here, I foresee us continuing our close collaboration with BETEC and SGI to repeat this blitzkrieg style of aggressive multi-disciplinary exploration onto several of our other prospects which have equal or greater potential."
The QP for this release is Dr. Adrian G. Mann, P.Geol., VP Exploration for ANGKOR.
ANGKOR's 7 exploration licences in the Kingdom of Cambodia cover 1448 km2, which the company has been actively exploring over the past 5 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 48,000 termite mound samples in 17 centres of interest, over a combined area of 80km2, 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).
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 568-3801
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Source:Angkor Gold Corp.