Angkor Resource Applies for New Copper – Gold Exploration Licence and Updates License Status
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Angkor Resource Applies for New Copper – Gold Exploration Licence and
Updates License Status
GRANDE PRAIRIE, AB, (September 30th, 2021): Angkor Resources Corp. (TSXV: ANK and OTC:
ANKOF) (“Angkor” or “the Company”) announces verification for new mineral license status on
Andong Meas and Oyadao North licenses, application for a new copper/gold 200-km2 license and
cancellation of two previous licenses.
CEO Delayne Weeks describes licensing in Cambodia, “All the permitting was delayed due to
restrictions with COVID over the past year. We made the best of that period to complete our
review and assessment of our existing licenses and other new licenses for their potential to bring
shareholder value in the near term. “
After several months of study, the Company has also applied for a highly-prospective copper/gold
license of 200 square kilometers in size as an additional new license.
The Company applied for new license status on two of its properties to provide an initial 3-year
term and two additional renewal terms of two years each. At the same time, the Company
cancelled renewals on Oyadao South and Banlung South. Weeks added, “We feel our other
licences are far more prospective for minerals, will allow for better use of our resources, and this
pivot is consistent with our strategic review.”
During the past year and through COVID restrictions, the Cambodia exploration teams completed
extensive exploration on Canada Wall, Gossan Hills, and Wild Boar prospects on the Andong Meas
license and further Induced Polarization on the Oyadao North license. Identifying solid drill targets
for the upcoming season was the goal of the exploration work. Processing of samples and analysis
from the two licenses is ongoing now during the rainy season to finalize drill targets, with drilling to
start in mid to late November at the end of rainy season.
During the past four months, the Company has also completed an extensive study on the third new
license application area and already has identified drill targets there as well.
VP Exploration, Dennis Ouellette comments, “Andong Meas has provided several enticing results
from both new and previous prospects. Both copper and gold results plus the ‘cradle-to-grave’
agreement with the local Indigenous Communities indicate the strong potential of the license.
Oyadao North license sits directly north of the PS mine site making the southern part of the license
a probable extension of the veins but additionally, Oyadao North has several prospects on the
northern part of the license that require additional exploration. And the third license currently
under application holds great potential, making the upcoming year exciting with advanced
exploration and drilling plans.
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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 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 SE Asia with multiple licenses Cambodia. In 2020, the company received
approval and initiated negotiations of terms for the first onshore Production Sharing Contract (PSC)
for Block VIII, a 7,300 square kilometre oil and gas license in Cambodia.
CONTACT:
Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Email: [email protected]
Website: http://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) acc epts 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.