ANK:CC - Angkor Acquires Andong Bor Copper License and Announces Strategic Alliance
(TheNewswire)
GRANDE PRAIRIE, AB – TheNewswire - September 6, 2022: Angkor Resources Corp.(TSXV:ANK ) and ( OTC:ANKOF) (“Angkor” or“the Company”) announces Angkor’sapplication for a copper/gold license in western Cambodia has beenapproved and issued by the Cambodian Ministry of Mines and Energy. As well, a private Canadian company, CANbodia Copper Corp. (CCC) hasaligned with Angkor to fund and develop the newly acquired Andong Borlicense.
The Andong Bor license, consisting of 100 squarekilometers, had preliminary drilling completed several years ago undera different licensee, with strong copper and gold results. The licenseis due west of Ratanakiri province and straddles two provinces, OddarMeanchey and Banteay Meanchey.
VP Exploration, Dennis Ouellette, comments, “This isa drill ready target rather than grass roots exploration, which meanswe enter this project with a substantial amount of data andinformation. We know that one prospect, called Thmei North, is acopper porphyry; we now need to see how large and robust it is, plusexplore other areas of the license.” Ouellette continues, “Ourplan is to complete the environmental and social impact assessment, dogeochemistry and magnetic surveys, and then follow up with IP anddrilling thereafter. It is always helpful to have an existingmineralized drill hole within the target area over which the IP surveywill be conducted. Interpretation of the IP pseudo-sections is greatlyimproved”.
The CCC management team brings to Cambodia experiencefrom South America, United States, Canada, South-East Asia, Australia,and Mexico regarding copper projects and markets.
Highlights of the alliance include:
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CCC provides full project funding
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Angkor is the Operator on the license
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Joint consultation and best practices to be undertakenwith all geological and work programs
CCC has a focused interest in copper and companionmetal projects across the globe and is keen to advance the opportunityin Cambodia working with the Angkor team. CEO of CCC, Mr. TerryLyons, commented on the project and the alliance with Angkor. “Weare very pleased to be partnering with Angkor on this excitingproject. Angkor brings a strong technical team and a depth ofexpertise in Cambodia which will be complemented by CCC’s expertisein capital markets and the international copper business. Cambodia isin the process of developing a strong mineral sector and has enhancedits sector governance to welcome foreign investment. We see thisproject as an excellent opportunity to advance a drill ready series oftargets based on previous drill results and other field work in astrongly mineralized area.”
Referring to the project alliance, CEO of Angkor,Delayne Weeks comments, “Having an alliance with global expertise inthe copper markets brings depth and strength not only to the AndongBor license and companies involved, but to Cambodia’s entire mineralsector. The country has developed solid mining laws and productionprocesses and is attractive to foreign investment because it issecure, has a healthy GDP, and a keen young workforce. Westernexpertise in the extractive sector can help expedite modern innovativepractices that have evolved over decades elsewhere but can beimplemented immediately in Cambodia. “
The Environmental and Social Impact assessment has beencommissioned to start immediately and will take several months tocomplete.
QUALIFIED PERSON
Dennis Ouellette, B.Sc., P.Geo., is a member of TheAssociation of Professional Engineers and Geoscientists of Alberta(APEGA #104257) and a Qualified Person as defined by NationalInstrument 43-101 (“NI 43-101”). He is the Company’s VPExploration on site and has reviewed and approved the technicaldisclosure in this document.
ABOUT ANGKOR RESOURCESCORPORATION:
Angkor Resources Corp. is a public company, listed onthe TSX-Venture Exchange, and is a leading resource optimizer withthree mineral licenses and an active role in leading energy/oil andgas projects in Cambodia and carbon capture in Canada. In 2022, thecompany finalized an Onshore Production Sharing Contract (PSC) termfor Block VIII, a 7,300 square kilometre oil and gas license inCambodia.
ABOUT CANbodia Copper Corp.:
CANbodia Copper Corp. is a private Canadian registeredcompany having dynamic executive leadership with expertise in manydisciplines. To date, CCC has been funded by a core group ofshareholders, inclusive of financial support from theDirectors.
CONTACT:
Delayne Weeks, CEO
Telephone: +1 (780) 831-8722
Email: da@angkorgold.ca Website: http://www.angkorresources.ca
Please follow @AngkorResources on , , , Instagram and .
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Certain information set forth in this news release maycontain forward-looking statements that involve substantial known andunknown risks and uncertainties. These forward-looking statements aresubject to numerous risks and uncertainties, certain of which arebeyond the control of the Company, including, but not limited to thepotential for gold, other minerals and/or oil and gas/energy-relatedprojects at any of the Company’s properties, the prospectivenature of any claims comprising the Company’s property interests, the impact of general economicconditions, industry conditions, dependence upon regulatory approvals,uncertainty of sample results, timing andresults o f future exploration, and the availability offinancing . Readers are cautioned that the assumptions used in the preparationof such information, although considered reasonable at the time ofpreparation, may prove to be imprecise and, as such, undue relianceshould not be placed on forward-looking statements
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