Australia’s Perth-based Fission Energy has made its maiden foray into foreign expansion, securing three gold and base metals exploration licences in Cambodia. The company has signed agreements with two Cambodian miners, Angkor Thmorpich Resources and Wild Bull Resources, to acquire the licences which cover 430sqkm in the largely unexplored western region of the country.
Fission says while Cambodia is considered one of ‘the last frontiers’ in Asian mineral exploration, the three licence areas (Dontret, Sroyang and Pailin) have returned high-grade assay results for copper and gold mineralization.
Highlights to date at Dontret include grades of 8.6% copper, 1.31% zinc and 25.6 grams/tonne silver from rock chip samples of skarn-style mineralization. Fission has planned an exploration program at this area which is scheduled to begin once the agreement is finalized.
To the west of Dontret, the smallest of the licence areas, Pailin, has shown peak gold assays of up to 4.1 grams/tonne gold from rock chip samples. The Sroyang licence is current until June 2013 and previous trenching has exposed superficial copper oxides over widths of greater than five metres.
Fission’s director Guy Le Page says, “The first phase of exploration following completion of the agreement will involve the assay of more than 200 BLEG and stream sediment samples from the areas that were collected by a consultant geologist. Drill testing will also be scheduled to test for the presence of a possible copper enriched supergene zone.”
The acquisition is subject to conditions, including due diligence being undertaken and completed by March 2013.