New Drilling Results From Angkor's Koan Nheak Project

TORONTO, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to announce the results of a recent drill program at its Koan Nheak license undertaken by its exploration partner, Emerald Resources NL (“Emerald”). Exploration at Angkor’s Koan Nheak license is carried out by Emerald’s Cambodian subsidiary Renaissance Minerals (Cambodia) Ltd. under an earn-in agreement with Angkor announced July 12, 2017.

Emerald Resources recently completed a first pass RC drill program on the gold-in-soil Peacock anomaly at Koan Nheak. The RC drill program consisted of 15 collars totalling 1,194 metres (m), drilled down to an average depth of 80 m at a 60º angle. It was intended to test the peaks of the gold-in-soil anomaly and the most prospective geophysical IP anomalies.

Ten of the 15 drill holes intersected zones of quartz breccia with sulphide mineralization. Each of these zones confirmed the existence of a gold mineralized system with the best intersection (8.0m @ 3.61 gpt Au) being hosted by the diorite intrusive. The significant drill intersections are set out in the table below:

Intervals were determined by geological interpretation of consistent mineralized zones. Broader intervals may include waste intervals of up to 2 m. There was no evidence of nugget effect in the above results, and no results were topcut. True widths for the intervals above have yet to be determined.

The drill program confirmed the previously identified soil anomaly. The mineralization was observed to be hosted in a diorite intrusive of a similar style to the sulphide mineralization of Emerald’s nearby Okvau Gold Deposit. Additional drilling, scheduled to commence early next year, will further test the RC19PCK003 intersection northward along strike into the prospective diorite intrusive on the untested Peacock North gold-in-soil anomaly.

Emerald Resources is the owner and operator of the nearby Okvau Gold Deposit located approximately 53 kilometres southwest of Angkor’s Koan Nheak property. The Okvau Gold Deposit is currently in its final phase of production permitting. It has a published JORC-compliant Ore Reserve (Probable) estimate totalling 14.26 million tonnes grading 1.98 gpt gold for 907,000 contained ounces of gold.

SAMPLE METHODOLOGY

Reverse circulation (RC) drilling was used to collect both a 4 m composite and 1 m samples. The 4 m composite samples are taken from the excess bagged material off the cone splitter every 1 m. A spear sampling technique is then used to produce a 3-5 kg composite sample. The 1 m samples are split with a cone splitter at the drill rig to produce a 3-5 kg sub-sample. These 1 m samples are submitted after the results of the 4 m composites are received to identify the zones of mineralisation.

Diamond core was sampled using half-core, where the core is cut in half down the longitudinal axis. Sample intervals were determined by the geologist based on lithological contacts, with 80% of the sample intervals being 1 m in length and an additional 15% of the sample intervals being 2 m in length.

Drill sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane, Laos, utilising a 50-gram subsample of 85% passing 75 μm pulped sample, using Fire Assay with AAS finish on and Aqua Regia digest of the lead collection button. Multi-element assay is completed at ALS Perth, Australia on a 1 g pulp subsample digested by Aqua Regia and determined by ICP-AES or ICP-MS for lowest available detection for the respective element.

Oxide matrix standards, field duplicates and pulp blanks are inserted in sample batches to test laboratory performance.

All types of samples are prepared for assay at the NATA accredited ALS Cambodia sample preparation facility in Phnom Penh. Samples are dried for a minimum of 12 hours at 105ºC. RC samples are split to <3 kg and pulverized in an Essa LM5 Ring Mill. A standard >85% pass rate is achieved (with particle size analysis performed on every tenth sample as a check). Diamond drill core is sawn in half with a core splitter using a core saw; one half is preserved as a geological record, the other is sent for assay. At least three field duplicate samples are collected at an RC drill rig to monitor sampling precision.

All drill samples are sent to the NATA accredited ALS Laboratory in Vientiane, Laos, for fire assay (Au-AA26: 50 g ore grade method, total extraction by fusion, with an AA finish). Samples reporting >100 ppm upper detection limit are repeated by Au-AAGRA22 method, Graphite furnace with gravimetric finish.

Industry-standard QA/QC protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available pulp CRMs and pulp blanks into all batches - usually 1 of each for every 20 field samples. Additional blanks used are home-made from barren quarry basalt. QA/QC data are routinely checked before any associated assay results are reviewed for interpretation, and any problems are investigated before results are released to the market.  No issues were raised with the results reported here.

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 Vice President of Exploration 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 mineral explorer in Cambodia with a large land package and a new oil and gas exploration license that covers 7,300 square kilometres of Cambodia.

ABOUT EMERALD

Emerald Resources NL (ASX:EMR) is an explorer and developer of gold projects with its head office in Perth, Western Australia, and is focussed on aggressively growing and advancing its Okvau Gold Project in the eastern region of Cambodia located 53 kilometres southwest of Angkor’s Koan Nheak property.

CONTACT:

Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: sb@angkorgold.ca
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.

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 of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Photos accompanying this announcement are available at

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Koan Nheak Drill Hole Location Map

Location of Koan Nheak Drill Holes and Significant Values

Angkor Resources License Location Map

Angkor's mineral exploration licenses in Cambodia