THIRD DIAMOND DRILL RIG DEPLOYED BY ANGKOR GOLD IN CAMBODIA
- Third diamond drill rig deployed by Angkor Gold in Cambodia.
- Drilling commences on geochemical targets at Katieng prospect, (Banlung North tenement)
VANCOUVER, BC (March 26, 2012)
ANGKOR GOLD CORP. (TSXV: ANK) (“ANGKOR”) is pleased to announce that a third contract for a minimum of 2000m NQ cored diamond drill holes on several prospects on tenements in Ratanakiri Province, Cambodia, has been awarded. The rig is on site on the Katieng prospect, Banlung North tenement.
Deployment of this rig means that the company now has 3 diamond drilling rigs working in Cambodia. A local Cambodian company has been drilling since November, 2011 and Angkor added a second rig from a Canadian company in February, 2012 focusing on the Okalla prospect. The map below shows the location of the 3 drilling projects.
Mike Weeks, Angkor’s CEO states, “We are very pleased to accelerate the drilling program. In markets like these, when our recent financing filled so quickly and the interest is so strong, we think it is only prudent to move these projects forward quickly and continue to explore systematically. We have highly prospective targets for this third rig and can now drill those aggressively.”
The Katieng prospect is a multi-element ‘C’ zone soil geochemical anomaly overlying an intrusive diorite stock on which there is a strong magnetic high. This geological environment is similar to that of the Okalla prospect, where several holes have already shown pervasive sulphides (including pyrite, chalcopyrite and molybdenite), both finely disseminated and in quartz-carbonate veinlets, associated with potassic and clay alteration. Katieng is less than 7km to the north-northwest of Okalla, which has a similar magnetic signature. There are at least 500m of drilling scheduled for Katieng.
The map below shows the proposed drill locations superimposed on the „C‟ zone soil geochemistry for copper and the geology of the Katieng Prospect.
After completing the Katieng program, the rig will move either to Kunmum prospect to the northwest of Banlung North tenement, or to Ogama prospect in the Oyadao tenement. Both these prospects have multi-element soil geochemistry defined targets, and artisanal workings for gold.
The QP for this release, which he wrote and approved, is Adrian G. Mann, P. Geol., VP Exploration for ANGKOR GOLD CORP.. He is a graduate of London University and of the University of the Witwatersrand, with over 40 years world-wide experience in mineral exploration and mining geology. Dr. Mann lives in Calgary, Alberta.
ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. The company has 4 exploration licenses in the Kingdom of Cambodia covering a total of 1167 km2 and 3 Memoranda of Understanding with the Ministry of Mines, Industry and Energy covering a further 1499 km2. The company has been actively exploring these concessions over the past 21/2 years, and has now covered all 7 tenements with stream sediment geochemical sampling, has flown low level aeromagnetic surveys over much of the ground, drilled some 10,769 metres of NQ core in 97 holes, and has collected in excess of 15,000 „C‟ zone soil samples in 7 centres of interest, over a combined area of 18km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.
FOR FURTHER INFORMATION PLEASE CONTACT:
ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 518-0326
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