ANK:CC - Angkor Confirms 108 Metres of 0.53% Copper Equivalent at Andong Bor Cambodia
(TheNewswire)
GRANDE PRAIRIE, AB – TheNewswire - (December 13, 2022): Angkor ResourcesCorp. (TSXV:ANK ) and ( OTC:ANKOF) (“Angkor” or“the Company”) announces assays from ournewest copper/gold license in western Cambodia confirms a copper goldporphyry system on the Thmei North prospect with similar results onThmei South prospect. The license is due west of Ratanakiri provinceand straddles two provinces, Oddar Meanchey and Banteay Meanchey.
A geological team including VP Exploration, DennisOuellette, reviewed, logged, and assayed selected core from thelicense area drilled in 2016 by the previous license holders. Thecore was originally quarter sampled which allowed the team to selectthe remaining quarter core for laboratory analysis. Comparing thelithology and mineralization from the 2016 drill program, Ouellettecommented, “There is no doubt we have a robust copper/gold porphyrysystem on the license. Copper mineralization is within veins,stockworks, and disseminations in intrusive ‘crowded porphyry’rock as well as the mudstone wall rock. Our ultimate goal is todetermine the size and grade of those systems with follow-upexploration”.
Figure 1 VP Exploration, DennisOuellette, and two geologists analyze core from Andong Bor license.
Figure 2 Map of Andong Bor license,100 square kilometres
As the location of the license extends to the westernportion of Cambodia seen in map above, Ouellette commented further,“Andong Bor significantly expands our footprint across thecountry.”
Core samples from two holes drilled in 2016 wereselected at various intervals for due diligence purposes. Core fromtwo other holes drilled in the area were also examined.
ABDDH16-005, a vertical hole drilled to a depth of 543meters, is almost all potassic altered tuff and mudstone units. Thefeldspar porphyritic granodiorite intervals in the core contain clastsof the mineralized mudstone and are in fault contact with the mudstonesuggesting that they are post mineralization. They exhibit much lowercopper grades and mineralization is expressed as some chalcopyrite ondry fractures and not as primary mineralization within quartz veins asis exhibited with the dense (in places) vein and stockworkmineralization within the tuff and mudstone. A 108-metre interval from282 to 390 metres consists of predominantly well mineralized potassicaltered mudstone with a 21-metre interval of ‘crowded porphyry’diorite. The 108-metre interval has a copper equivalent grade of0.53%*.
ABDDH16-008 was drilled at 170 degrees or 10 degreeseast of south at a dip of -50 degrees to a depth of 250 metres. Thisdirection is the predominant mineralizing trend in Cambodia which sitsbetween 150 to 170 degrees. As to be expected, porphyry style quartzveins trend almost straight down the core axis. The hole intersectspotassic altered diorite hosting porphyry copper style mineralizationnear surface and continues outward (and to depth) into lessmineralized (pyrite rich chalcopyrite poor) rock. A 46-metre intervalfrom 5 to 51 metres consists of sheeted porphyritic diorite dykesintruding mudstone both of which are potassic altered and wellmineralized with vein and stockworkchalcopyrite, bornite and covellite. This interval includes 4.5 metresof supergene enrichment. The 46-metre interval has a copper equivalentgrade of 0.51%*.
* Copperequivalent was calculated using the formula CuEq= Cu% + (Au g/t x .68) with Cu at $8340/tonneand Au at $57/ gram. The extractability of the gold is notconsidered .
These two holes were drilled at Thmei North are 300metres apart within a copper-in-soil anomaly of about one squarekilometer (>300ppm to 2100 ppm) indicating that the copper goldporphyry system has the potential to be large. The copper/goldporphyry occurrence sits within the same volcanic arc as the Phu Khamcopper/gold porphyry deposit to the north in Laos.
Themi South, located 1.5 kilometers south of ThmeiNorth, had one hole drilled in 2016 (ABDDH16-06). The hole cored weakpotassic alteration of porphyritic diorite and mudstone. Thecopper-in-soil anomaly is almost as robust as that displayed at ThmeiNorth.
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 late 2022,the company finalized an Onshore Production Sharing Contract (PSC) forBlock VIII, a 7,300 square kilometre onshore oil and gas license inCambodia.
ABOUT CANBODIA COPPER CORP.:
CANbodia Copper Corp. (“CANbodia”) is a privateCanadian company with dynamic executive leadership and expertise inmining projects, copper mineralizations and corporate finance. Todate, CANbodia has been funded by a core group of shareholders,inclusive of financial support from its board of directors. CANbodia has strategically aligned with Angkor to fund, explore anddevelop the Andong Bor license for an 80% interest in the project.
CONTACTS:
Delayne Weeks, CEO of Angkor Telephone: +1 (780) 568-3801
Email: info@angkorresources.com Website: http://www.angkorresources.com
Please follow @AngkorResources on , , , Instagram and .
Richard Stanger, Country Manager of CANbodia
Email: richardstanger@libminco.com
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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