A drill programme aimed at testing the gold-in-soil anomalies at the Koan Nheak license in Mondulkiri province has yielded positive results, increasing the likelihood that the area has substantial gold deposits.
A media release from Angkor Resources Corp said that Emerald Resources, its exploration partner, has completed a drill programme on Koan Nheak license’s Peacock anomaly with good results.
The Canadian company holds the exploration license for Koan Nheak but the actual exploration and drill programme is being carried out by Emerald Resources through its Cambodian subsidiary Renaissance Minerals under a definitive Earn-In Agreement first announced two years ago.
The drill programme was intended to test the peaks of the gold-in-soil anomaly and the most prospective geophysical induced polarisation anomalies.
The drill programme consisted of 15 holes drilled down to an average depth of 80 metres.
“CEO Stephen Burega is pleased to announce the results of a recent drill programme at its Koan Nheak license undertaken by its exploration partner, Emerald Resources,” the press release said.
According to Angkor Resources Corp, ten of the 15 drill holes intersected zones of quartz breccia with sulphide mineralisation.
“Each of these zones confirmed the existence of a gold mineralised system,” the press release said.
Angkor Resources Corp said what they found at Koan Nheak is similar to what has been observed in the Okvau gold deposit, located some 53 kilometres away.
“The drill programme confirmed the previously identified soil anomaly. The mineralisation was observed to be hosted in a diorite intrusive of a similar style to the sulphide mineralisation of Emerald’s nearby Okvau gold deposit,” the media release noted.
“Additional drilling, scheduled to commence early next year, will further test the RC19PCK003 intersection northward along strike into the prospective diorite intrusive on the untested Peacock North gold-in-soil anomaly,” it added.
The Koan Nheak license is among five mineral exploration licenses covering 983 square kilometres that Angkor Resources Corp holds in Cambodia.
The other licenses – which are located in Mondulkiri or the neighboring province of Ratanakkiri – are Andung Meas, Banlung, Oyadao, and Oyadao South Halo.
In addition to exploring for gold and other minerals, Angkor Resources Corp also does oil exploration, with the government recently awarding it the license to look for oil in an area called Kompong Som Basim.