ANKOF - Assays on Rare Earth from Gossan Hills Cambodia
(TheNewswire)
GRANDE PRAIRIE, AB – TheNewswire - Jan. 25, 2022 - Angkor Resources Corp.(TSXV:ANK ) and ( OTC:ANKOF) (“Angkor” or“the Company”) reports it received the first12 assays on rare earth elements (REEs) of surface laterite samplesfrom Gossan Hills prospect on the 100% owned Andong Measlicense.
The initial twelve assays were completed by AustralianLaboratory Services (ALS) for RREs across the Gossan Hills prospect,which is south and adjacent to the Canada Wall copper porphyry system. The assays returned total ppm values of REEs ranging from 244 ppm– 1025 ppm total REE. Both the sum totals and the locations areillustrated at left and indicate that the elevated REEs are evidentover an area exceeding a square kilometer; nine of the 12 assayedsamples, taken as surface samples in laterite, exceed 500 ppm REEs.
REEs and accompanying alkali and transition metals, arecomplex for a number of reasons, including the variance in value ofeach type of element, which ranges from $5.40 per kilogram forStrontium (Sr) and $73,700 per kilogram for Cesium (Cs). Strontiumis often used in magnets and fireworks and Cesium is used in drillingfluids and in the clocking components of mobile phones and GPSsystems.
Commercial viability of REEs can only be determinedafter ample proof that both sufficient grade and tonnage areavailable, and the extraction method is economic.
D Weeks, CEO comments, “We require more data andsampling to begin to assess commercial quantity. At this point, weare pleased with the initial indications, but further exploration willgive us more information to determine the next step.” The REE anomaly is open to the west, south and east. A widerspaced sampling program will be conducted to determine the extent ofthe target area.
Angkor will proceed with a further grid sampling on 100meters x 100 meters over a minimum expanded terrain of several squarekilometers to see if the elevated REE levels are consistent throughouta greater area.
The grid sampling will consist of laterite sampling ofsurface material and also auger sampling to a depth of at least 7meters.
As well, a ground magnetic survey has been started andwill likely take at least one month to complete. The survey is beingdone on 100m line spacing and will cover the CW copper porphyry targetand the REE in regolith target to the south.
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 RESOURCES CORP.
Angkor Resources Corp. is a public company, listed onthe TSX-Venture Exchange, and is a leading resource optimizer inCambodia with multiple licenses in NE quadrant of the country. In2020, the company received approval and initiated negotiations onProduction Sharing Contract (PSC) terms for Block VIII, a 7,300 squarekilometre oil and gas license in Cambodia.
CONTACT:
Delayne Weeks, CEO Telephone: +1 (780) 831-8722
Email: da@angkorgold.ca
Website: http://www.angkorresources.ca or follow us on Twitter @AngkorResources
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 and/or other minerals at any of the Company’sproperties, the prospective nature of any claims comprising the Company’s property interests, the impact ofgeneral economic conditions, industry conditions, dependence uponregulatory 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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