Angkor Resources Advances Exploration on Canada Wall Prospect

GRANDE PRAIRIE, AB, (Jan.  11, 2022): Angkor Resources Corp. (TSXV: ANK and OTCQB: ANKOF) (“Angkor” or “the Company”) is pleased to announce the completion of a grid rock sampling and soil sampling program in the Canada Wall porphyry copper target within the 100%-owned Andong Meas Exploration License, Cambodia.

Highlights of the Sampling Program

  • The rock sampling program covered an area of 4.5 square kilometers which was centered on the copper-molybdenum soil geochemical anomaly.
  • A total of 142 rock samples were collected at 200m centers over the 4.5 square kilometers to assess the petrology of surface rocks; the rocks will be analyzed using a multi-element, low detection limit method which can help to zero in on the porphyry center.
  • The soil sampling program was targeting coincident aeromagnetic, resistivity and IP anomalies believed to be another porphyry center which remains untested by drilling.
  • A total of 108 soil samples were taken on a 100m center grid over a more concentrated area of the coincident multi-spectral anomaly proper using an auger drill to depth of blade resistance as deep as 5.0 meters.

Company geologists have relogged core and reinterpreted the rock units to be aplite in contact with moderately potassic altered diorite with accompanying pyrite/chalcopyrite veins.  Aplite formations tend to pierce the copper deposits and are common in copper porphyry systems.

The next step will be a ground magnetic survey across roughly three-square kilometres of the prospect, taking several weeks with results to follow. 

Magnetic susceptibility of previously drilled core and rock samples collected from the area provide the key to interpretation of the magnetic data. The ground magnetic survey will be initiated within the next few weeks. 

VP Exploration, Dennis Ouellette explains the rational, “Recent drilling indicates that the potassic altered diorite with pyrite and chalcopyrite has a lower magnetic susceptibility than the granodiorite containing it. The granodiorite is host to pyrrhotite and chalcopyrite mineralization in quartz breccias. It is likely that we have a copper porphyry intruding a copper molybdenum porphyry at Canada Wall.”

QUALIFIED PERSON

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 VP Exploration on site and has reviewed and approved the technical disclosure in this document.

ABOUT ANGKOR RESOURCES CORP.

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia with multiple licenses in NE quadrant of the country.  In 2020, the company received approval and initiated negotiations on Production Sharing Contract (PSC) terms for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.

CONTACT:

Delayne Weeks, CEO              Telephone: +1 (780) 831-8722           Email: da@angkorgold.ca

Website: https://www.angkorresources.ca  or follow us on Twitter @AngkorResources

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 information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Category: Press Release