Doin' it RIGHT!ANK always has REVENUE coming in & well Run!
ANGKOR RESOURCES CORP. (TSXV: ANK) (“ANGKOR”) announces that it has entered into a Joint Exploration and Development Agreement (“JEDA”) with BSN Ratanak Sambath Co. Ltd. (“BSN”) to advance exploration to a feasibility study and application for gold and copper production permits on its Andong Meas mineral license.
HIGHLIGHTS
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The Property under the JEDA, signed July 9, 2024 includes the 118 square kilometre Andong Meas license and all mineral claims on prospects of the license, located in Ratanakiri Province.
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ANGKOR will receive $250,000 as $50,000 USD for signing bonus plus 12 monthly payments starting in August 2024 of $16,667 USD to total $200,000 over 12 months.
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BSN shall contribute 100% of the costs of exploration including a monthly base fee of $15,138 for ANGKOR’s personnel, infrastructure, accommodation, vehicles, and logistics activities through exploration.
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BSN will earn an 80% interest in the license with its activities and expenditures through the exploration phase when the prospects have a bank feasibility study started. ANGKOR shall maintain a 20% carried interest to feasibility stage and has the option to convert the interest to a five percent (5%) Net Smelter Royalty (“NSR”) after the issuance of a mining production permit.
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ANGKOR and BSN shall be Co-Operators on the license and shall collaborate to combine best technical expertise, expediting work programs, and pursuing feasibility studies towards production permits. The first priorities for the technical teams are the Canada Wall and South Creek area showing copper gold porphyry systems.