Angkor Resources advances grid sampling across two prospects, Cambodia

GRANDE PRAIRIE, AB, (Feb 22, 2022): Angkor Resources Corp. (TSXV: ANK and OTCQB: ANKOF) (“Angkor” or “the Company”) is pleased to announce it has initiated a grid sampling program across Canada Wall and Gossan Hills, concurrent with continuing the ground magnetic survey. 

An auger soil sampling program is underway covering an area not yet sampled where the reconnaissance lateritic and duricrust samples yielded strong copper and rare earth element values.   

The program is undertaken to define the boundaries of the mineralized area, identified last season.  Initially, the program covers about 3.5 square kilometers, and extensions for coverage to the south, west, and east may be implemented as the program unfolds and soil profiles warrant the expansion.

The grid sampling covers the southern portion of the Canada Wall prospect and the whole of the Gossan Hills prospect.  The samples will undergo XRF analysis, and selective samples will be assayed for multi-element analysis.  The multi-element analysis will require more time for results as that specific analysis takes place in ALS’s Australian laboratories. 

Auger holes are drilled to water table, refusal, or bedrock on a 100m x 100m grid for a total of 308 samples. Depth of the holes are projected to range from three to seven metres.  Samples are collected every meter and/or when the soil profile changes.  Up to four teams of three people, supervised with one geologist for every two teams, will complete the program over four to six weeks.

Many of the members of the auger teams are from the local Jarai indigenous communities on the Andong Meas license and work with the Angkor team to gain employment, an understanding of the steps of exploration, and skillset improvement.   

The Company also announces today that Ms. Rhonda Hewko is resigning as a member of the Board of Directors effective February 28th, 2022, so she may focus her professional efforts on the growth of her own company. The Board of Directors would like to thank Ms. Hewko for her many contributions over the years and wish her well in her endeavours.

Angkor and the Board will evaluate the size and ensure the independence of the Board before proceeding with any search for a replacement.

QUALIFIED PERSON

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 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