Angkor Discovers New Copper Porphyry System at Oyadao South Halo Project Phase 1 Drilling and IP Survey Completed
Angkor Discovers New Copper Porphyry System
at Oyadao South Halo Project
Phase 1 Drilling and IP Survey Completed
Sexsmith, AB, ( October 19, 2017): Angkor Gold Corp. (TSXV: ANK and OTC:
ANKOF) (“Angkor” or “the Company”) CEO Mike Weeks is pleased to provide an
update on the diamond drill and Induced Polarization (IP) geophysics programs at Halo
on Angkor’s Oyadao South license in conjunction with its exploration partner, Japan Oil,
Gas and Metals National Corporation (“JOGMEC”).
Highlights
Highlights of Phase 1 program results include:
All of Phase 1 diamond drilling and IP programs at Halo are now complete.
Results from HAL17 -001D showed an intercept of 2345 ppm Cu, 1.34 g/t Ag, and
261.4 ppm Mo over 88.9 m including an intercept of 8043 ppm Cu, 2.24 g/t Ag, and
320.7 ppm Mo over 7.9m.
Results indicate the existence of previously unknown copper-molybdenum porphyry
systems at Halo.
Results from HAL17-004D and final interpretation of the IP program are still pending.
The Phase 2 exploration program in Oyadao South include s additional diamond
drilling at Halo , targeting IP anomalies and expand regional exploration onto
additional magnetics and geochemical anomalies in Oyadao South.
The first phase of the diamond drilling and IP at Halo is completed with a total of 1,578
m of drilling in four holes, 41.6 km of surface IP lines, downhole IP on all four completed
drill holes, and IP core testing on 157 samples from all four drill holes.
Significance of Results
“Copper-gold-molybdenum porphyry systems typically occur in clusters ,” said Dennis
Ouellette, Angkor’s Exploration Manager. “The Halo occurrence on the Oyadao License
represents the discovery of a new and previously unknown porphyry system. Porphyry
systems can be richly endowed with associated epithermal gold and silver veins, base
and precious metal skarns.”
Drill hole HAL17-001D results represent mineralization found away from but likely
connected to the centre of the mineralized porphyry system. All the drill holes
intercepted alteration and veining associated with porphyry system s. Interpretation of
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the surface IP sur vey and down -hole IP surveys will assist in determining the Phase 2
drill program.
Drilling Results
Assay results from drill holes HAL17-001D, HAL17-002D, and HAL17-003D have been
returned from ALS -Chemex Laboratories with results from H AL17-004D still pending.
Hole HAL17-001D shows appreciable copper (Cu) and silver (Ag) mineralization in the
top 99 metres, with anomalous levels of molybdenum (Mo) corresponding with
disseminated sulphides observed in the same interval. Included in the 99m interval is an
intercept of 2345 ppm Cu, 1.34 g/t Ag, as well as 261.4 ppm Mo over 88.9m which
includes 7.9m of 8043 ppm Cu, 2.24 g/t Ag, and 320.7 ppm Mo from 10.1m to 18.0m.
“This discovery hole is immensely important ,” said Dennis Ouellette, Angkor’s
Exploration Manager. “We have proven that a sizable porphyry system exists on the
Halo prospect. Our focus for Phase 2 will be follow -up drilling of this significant
discovery.”
Although porphyry-style mineralization and alteration was observed in the remainder of
holes HAL17-001D, HAL17 -002D, and HAL17 -003D, no significant results were
reported. Significant results from drill hole HAL17-001D are set out in the table below:
Hole ID From (m) To (m) Length (m) Ag (g/t) Cu (ppm) Mo (ppm)
HAL17-001D 10.10 11.10 1.00 3.82 2660 386.0
11.10 12.10 1.00 3.36 19100 516.0
12.10 12.95 0.85 1.32 7390 265.0
12.95 13.95 1.00 2.52 17650 375.0
13.95 14.95 1.00 0.95 6610 267.0
14.95 16.00 1.05 2.74 4690 311.0
16.00 17.00 1.00 1.52 2790 189.0
17.00 18.00 1.00 1.54 3520 249.0
18.00 19.00 1.00 1.28 2130 335.0
19.00 20.00 1.00 1.88 2950 330.0
20.00 21.00 1.00 1.23 1990 475.0
21.00 22.00 1.00 1.59 2680 265.0
22.00 23.00 1.00 1.34 2110 195.0
23.00 24.00 1.00 1.79 2780 204.0
24.00 25.00 1.00 1.33 2110 148.5
25.00 26.00 1.00 2.15 3400 247.0
26.00 27.00 1.00 2.15 2540 418.0
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27.00 28.00 1.00 1.34 2220 288.0
28.00 29.00 1.00 2.21 3640 198.5
29.00 30.00 1.00 3.12 3790 245.0
30.00 31.00 1.00 3.60 2770 368.0
31.00 32.00 1.00 1.70 2240 510.0
32.00 33.00 1.00 1.04 1870 171.5
33.00 34.00 1.00 2.11 3340 182.5
34.00 35.00 1.00 2.57 4140 165.0
35.00 36.00 1.00 2.35 3640 80.8
36.00 37.00 1.00 1.79 2980 318.0
37.00 38.00 1.00 1.33 2310 204.0
38.00 38.70 0.70 1.49 2370 228.0
38.70 39.35 0.65 1.94 1930 164.5
39.35 39.90 0.55 1.50 1590 231.0
39.90 40.80 0.90 1.85 2220 172.0
40.80 41.80 1.00 1.19 1750 175.0
41.80 42.80 1.00 1.02 1650 597.0
42.80 43.80 1.00 1.46 2040 448.0
43.80 44.80 1.00 1.44 2470 129.5
44.80 45.80 1.00 1.11 1500 132.5
45.80 46.80 1.00 1.21 1880 263.0
46.80 47.80 1.00 0.79 1200 173.5
47.80 48.80 1.00 1.21 1510 653.0
48.80 49.80 1.00 0.95 1020 188.0
49.80 50.25 0.45 1.35 1490 183.5
50.25 51.25 1.00 1.19 1190 289.0
51.25 52.25 1.00 0.64 1100 420.0
52.25 53.25 1.00 1.06 1530 471.0
53.25 54.25 1.00 4.78 1500 116.0
54.25 55.25 1.00 1.06 1350 258.0
55.25 56.25 1.00 0.33 365 240.0
56.25 57.25 1.00 0.44 405 671.0
57.25 58.25 1.00 0.20 307 432.0
58.25 59.25 1.00 0.22 370 336.0
59.25 60.25 1.00 0.52 864 402.0
60.25 61.25 1.00 1.08 1685 168.0
61.25 62.25 1.00 1.19 1815 187.0
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62.25 63.25 1.00 0.68 1145 142.0
63.25 64.25 1.00 1.21 1985 263.0
64.25 65.25 1.00 0.73 981 203.0
65.25 66.25 1.00 1.18 1500 189.0
66.25 67.25 1.00 0.80 1040 118.5
67.25 68.25 1.00 0.91 1285 220.0
68.25 69.25 1.00 0.90 1265 187.5
69.25 70.25 1.00 0.79 1215 133.5
70.25 71.25 1.00 0.61 1005 193.5
71.25 72.25 1.00 0.87 1140 338.0
72.25 73.25 1.00 0.75 1250 235.0
73.25 74.25 1.00 0.50 812 325.0
74.25 75.25 1.00 0.48 745 144.0
75.25 76.25 1.00 0.42 535 157.5
76.25 77.25 1.00 0.52 595 671.0
77.25 78.25 1.00 1.04 1470 219.0
78.25 79.00 0.75 0.74 1205 143.5
79.00 80.00 1.00 1.00 1410 215.0
80.00 81.00 1.00 0.66 950 351.0
81.00 82.00 1.00 0.62 1015 47.9
82.00 83.00 1.00 0.78 1500 163.5
83.00 84.00 1.00 0.69 1260 634.0
84.00 85.00 1.00 0.61 1140 155.0
85.00 86.00 1.00 0.65 1090 42.4
86.00 87.00 1.00 1.76 3620 748.0
87.00 88.00 1.00 0.96 1545 164.5
88.00 89.00 1.00 0.92 1690 150.0
89.00 90.00 1.00 1.35 2350 48.0
90.00 91.00 1.00 1.05 1550 377.0
91.00 92.00 1.00 1.96 3480 83.2
92.00 93.00 1.00 1.13 1795 65.8
93.00 94.00 1.00 2.12 3280 104.0
94.00 95.00 1.00 1.30 2030 44.3
95.00 96.00 1.00 1.35 2030 70.9
96.00 97.00 1.00 1.50 2090 146.5
97.00 98.00 1.00 0.93 1435 47.9
98.00 99.00 1.00 0.71 1220 59.0
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Weighted average over 88.9m: 1.34 2345 261.4
True widths of the drill hole intersections have yet to be determined.
Detailed logging of HAL17 -001D shows the hole is dominantly composed of
intermediate volcaniclastic rocks and andesite with phyllic alteration cut by numerous
pink porphyry dykes, rhyolite dykes, microdiorite dy kes, and fine -grained mafic dykes.
The majority of the top 95m is phyllic alteration with patches of weak potassic alteration
with magnetite throughout to the bottom of the hole. Mineralization consists of quartz -
pyrite-chalcopyrite molybdenite veinlets and disseminated pyrite and chalcopyrite in the
volcanic and volcaniclastic host rock with some occurrences of bornite and covellite.
Detailed logging of HAL17 -002D shows that the hole is dominantly composed of diorite
and granodiorite with patches of phyllic and weak potassic alteration. Mineralization in
the hole consists of quartz-pyrite-chalcopyrite veins and veinlets. The granodiorite and
diorite are cut by fine mafic dykes, andesitic dykes, aplite dykes, and rhyolite dykes.
HAL17-003D was targeting anomalous surface channel sampling results and termite
mound geochemistry both show ing elevated levels of copper and molybdenite with
respect to the background. The drill hole consisted of sheared andesite at the top of the
hole and transitioned to granodiorite cut by fine-grained mafic dykes. Alteration consists
of propylitic granodiorite with patches of phyllic alteration. Mineralization consist of
quartz-pyrite-chalcopyrite-molybdenite veins and veinlets. The drill hole did not reach
the 400m target due to mechanical issues with the drill.
HAL17-004D target ed the area with the highest copper from the termite mound
geochemistry results. Results from this hole are pending. This drill hole began in largely
unaltered granodiorite and transitioned into propylitic-altered granodiorite and phyllic
altered diorite cut by massive polymetallic veins consisting dominantly of pyrite and
quartz with chalcopyrite, sphalerite, and galena. The granodiorite is cut by rhyolite
dykes, mafic dykes, and diorite dykes.
IP Program
The IP geophysics program completed all of the surface lines, downhole IP, and IP core
testing by the end of September. Preliminary results have been received from Au sthai
for the surface IP and results from the downhole IP and IP core testing are still pending.
Phase 2 Exploration Program
The Phase 2 exploration program in Oyadao South , set to begin in November, will
include:
Drill testing the most favorable areas from the final results from the surface and
downhole IP program at Halo
Expansion into new areas of Oyadao South with similar magnetics anomalies
and surface geochemistry seen at Halo, evaluating these areas with more
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surface geochemistry programs, geological mapping, surface geophysics, and
SWIR alteration studies.
SAMPLE METHODOLOGY
Angkor maintains a rigorous sample quality control and assurance protocol, with the
customary insertion of blanks and certified reference materials (CRMs) , cross checking
and duplicate analysis, retention of all saw -split cores and sample pulps at their gated
and fenced secure facility in Banlung. Analysis for publication are all done by accredited
third party laboratories, usually ALS -Chemex in Vientiane o r Perth, by SFA and AAS
finish for gold, or ICP -MS for base metals In -house geochemical analysis of soi l and
termite mound samples are done at the company’s Banlung laboratory by XRF for base
metals and by panning for qualitative gold detection.
Angkor’s QA/QC protocol requires calibration standards and blanks be inserted at a rate
of 10 per 100. In addition, periodic checks are run on a selected spectrum of samples at
ALS-Chemex laboratories. All soil and rock samples are submitted to ALS Mineral -
Australian Laboratory Services (Cambodia) Co. Ltd for preparation in Phnom Penh, and
gold analyses are done by ALS by standard fire assay in their Vientiane laboratories. All
other analyses are by Aqua Regia digestion with ICP -AES/ICP-MS (51 element ME -
MS41 packag e) in their Australian laboratories. Initial assays use their Au -ICP22
method of standard fire assay with an ICP -Atomic emission spectrometry finish on a
50gm aliquot, which has a detection range of 0.001 to 10 g/t. Check assays use the Au -
AA26 method of s tandard fire assay with an ICP -Atomic absorption spectrometry finish
again on a 50gm aliquot, which has a detection limit of 0.01 to 100 g/t.
ABOUT JOGMEC
JOGMEC was established in February 2004, following the integration of the former
Japan National Oil Corporation and Metal Mining Agency of Japan. It is an Independent
Administrative Agency under the Japanese Ministry of Economy, Trade and Industry,
with a mandate of investing in exploration minerals projects worldwide to help secure a
stable supply of natural resources for Japanese industry.
ABOUT ANGKOR GOLD CORP.
ANGKOR Gold 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 first -mover
advantage building strong relationships with all levels of government and stakeholders.
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
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defined by National Instrument 43-101 (“NI 43 -101”). He is the Company’s Exploration
Manager and has reviewed and approved the technical disclosure in this document.
ANGKOR GOLD CORP.
Stephen Burega, Vice President of Corporate Development
Telephone: (647) 515-3734
Email: [email protected]
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 re ferences 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 availabili ty, 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.