ANGKOR Gold Corporation has entered into a strategic partnership with Beijing Explo-Tech Engineering Co (BETEC) of China to further Angkor’s geophysical survey programs in Cambodia. BETEC’s work has been instrumental as Angkor moves its Halo and CW prospects to a level of international interest.

Angkor Gold’s tenements in prospective eastern Cambodia.

ANGKOR Gold Corporation has entered into a strategic partnership with Beijing Explo-Tech Engineering Co (BETEC) of China to further Angkor’s geophysical survey programs in Cambodia. BETEC’s work has been instrumental as Angkor moves its Halo and CW prospects to a level of international interest.

The partnership follows a consulting agreement for work completed during the 2014/15 work season that saw BETEC’s team of geologists and geophysicists extend the induced polarization (IP) and geological field reconnaissance work.

Angkor’s seven exploration licences in Cambodia cover 1448sqkm, which the company has been actively exploring for six years. Angkor has covered all tenements with stream sediment geochemical sampling; has flown low-level aeromagnetic surveys over most of the ground; drilled 21,855 metres of NQ core in 190 holes; and collected in excess of 110,000 termite mound, and ‘B’ and ‘C’ zone soil samples in more than 20 centres of interest over a combined area of more than 140sqkm, in addition to numerous trenches and detailed geological field mapping.

The partnership agreement consists of a mixed compensation package for work by BETEC. Payment takes the form of an equal split between equity in Angkor’s Canadian parent company and fees-for-service. This will add to BETEC’s existing equity in Angkor which it has held since June 2014. Tohui Beishan Group also has an equity stake in the company.

The initial work program value will be Can$575,000 split equally between shares and dollars. This may be extended with follow-up programs like drilling contingent upon the preliminary work. Work will begin at the start of the 2015 dry season in November as weather permits. BETEC will provide geological mapping, IP gradient array survey, gravity survey and analysis support across a number of Angkor’s prospects.

BETEC chairman Zhuangwei Luo said, “We see significant potential in Angkor’s group of assets in Cambodia, and we have been very pleased with our working relationship with the Angkor team. It is my hope that the agreement bolsters both our companies as we invest into one another’s future operations.”

BETEC lead geologist Qinghong Han said, “BETEC is committed to working with Angkor not solely as a client, but as a business partner. Our plans for Cambodia are evolving, and we have agreed to a combination of fees and equity to leverage BETEC’s technology and expertise. I believe that there are very few geologists who have had the opportunity to work on such targets as Halo and CW.”

Resource Center Whitepapers, Videos, Case Studies