Exploration at Angkor Gold Corp’s Oyadao South tenement in Cambodia has identified previously unknown copper-molybdenum porphyry systems at the Halo prospect. The Phase 1 program at Halo has included diamond drilling and induced polarisation (IP) geophysics, and has been conducted by Angkor’s exploration partner Japan Oil, Gas and Metals National Corporation (JOGMEC).
The Phase 1 program comprised 1578 metres of drilling in four holes, 41.6km of surface IP lines, downhole IP on the four completed holes and IP core testing on 157 samples from these holes has been completed.
The best result received to date has been 88.9 metres @ 2345ppm copper, 1.34 g/t silver and 261.4ppm molybdenum, including 7.9 metres @ 8043ppm copper, 2.24 g/t silver and 320.7ppm molybdenum. Further results and final interpretation of the IP program are still pending.
The results from this hole represent mineralisation found away from but likely connected to the centre of the mineralised porphyry system.
All the drill holes intercepted alteration and veining associated with porphyry systems. Interpretation of the surface IP survey and down-hole IP surveys will assist in determining the Phase 2 drill program.
Angkor’s exploration manager Dennis Oullette said, “Copper-gold-molybdenum porphyry systems typically occur in clusters. The Halo occurrence on the Oyadao licence represents the discovery of a new and previously unknown porphyry system. Porphyry systems can be richly endowed with associated epithermal gold and silver veins, base and precious metal skarns.”
The Phase 2 exploration program by JOGMEC at Oyadao South is expected to begin in November and will include additional diamond drilling at Halo targeting IP anomalies, and expanded regional exploration onto additional magnetics and geochemical anomalies.
“This discovery hole is immensely important,” said Dennis Ouellette. “We have proven that a sizeable porphyry system exists on the Halo prospect. Our focus for Phase 2 will be follow-up drilling of this significant discovery.”