DRILLING is taking place out at two of Angkor Gold Corp’s Cambodian gold projects. Work at the Okalla West project forms part of a cooperation agreement with Blue River Resources while Oyadao South work is part of a joint exploration agreement (JEA) with Japan Oil, Gas and Metals National Corporation (JOGMEC).
|Cambodia’s Minister of Mines visits the Cambodian facilities of Angkor Gold Corporation.|
The Phase 1 Okalla West program will comprise 500 metres of diamond drilling with the intention of determining the orientation, width and frequency of mineralised structures and confirming the style and intensity of country rock alteration. A Phase 2 program is planned after analysis of the Phase 1 results.
The target is 600 metres in length from north to south and about 300 metres east to west, and is open in all directions.
Okalla West is within a 27sqkm intrusive complex on the Banlung property and drilling is expected to provide a better understanding of potential mineralisation.
Pit samples collected from the surface deposit were analysed for gold plus multi-element analysis by ALS Chemex assay labs. Results show that gold mineralisation is intimately associated with bismuth and tellurium, which indicates that the veins are associated with the alkalic diorite that hosts them.
Auger sampling indicates that the mineralisation is in an altered and faulted diorite similar to Emerald Minerals’ Okvau gold deposit, about 80km to the south.
Blue River has the right to participate initially in up to a 50% interest of the Banlung licence from Angkor after completion of a total investment of US$3.5 million in exploration over four years. It may then exercise its option on an additional 20% through the commission and completion of a bankable feasibility study.
At Oyadao South, exploration consists of a diamond drill program, geophysical survey and surface geology on the Halo copper porphyry-style target. Initial drilling will consist of about 1200 metres designed to support interpretation of a previous IP program.
Three 400-metre drill holes are planned along IP lines in the most prospective area of the Halo system. They are intended to better determine where to follow up with additional drilling later this year.
An investment of US$3 million in exploration over three years has been committed by JOGMEC under the JEA, which gives it the option to acquire 51% of the licence.