Angkor Resources reclaims full ownership of Koan Nheak license in Cambodia
Angkor Resources (formerly ANGKOR Gold), a Canadian mineral exploration company, said that it has reclaimed 100% of the Koan Nheak license in northeastern Cambodia from Renaissance Minerals (Cambodia), a fully-owned subsidiary of Australian gold company Emerald Resources.
The parties entered into an earn-in partnership in July 2017 under which Emerald Resources carried out the exploration program at the Koan Nheak project.
Mike Weeks – Chairman of Angkor Resources said: “Emerald identified some very interesting gold results at the Peacock prospect.
“Angkor will continue with a follow-up drill program while Emerald focuses on getting their Okvau Mine into production. Both companies see great opportunities in Cambodia and will discuss this and other areas of joint-interest moving forward.”
The Peacock prospect is said to be made up of a diorite intruding upper Triassic metasedimentary rocks that is geologically almost the same as the Okvau gold deposit of Emerald Resources, which is located nearly 53 kilometres southwest of the Koan Nheak property.
Stephen Burega – CEO of Angkor Resources said: “We are very excited to have the Peacock gold target back in our control, adding another excellent gold target to explore during the upcoming dry season.”
Angkor Resources said that it will undertake an initial diamond drill program consisting of 500 meters to evaluate Emerald Resources’ best RC intercept RC19PCK003 which returned 3.61 g/t Au over 8 meters.
The Canadian mineral exploration company said that the drilling will enable it to determine the strike and dip of the mineralized structure and also strike extension. It further said that step-out holes will be completed to understand the strike length of the mineralized structure.