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Angkor Gold - Cambodia’s Premier Project Generator

Angkor Gold – Cambodia’s Premier Project Generator

Overview

Angkor Gold (TSXV:ANK) is Cambodia’s premier project generator with more than 30 prospects across seven tenements covering an almost 1,300-square kilometer land package. Since 2009, Angkor has been actively exploring its extensive holdings in Cambodia’s Ratanakiri Province. Mapping and drilling completed to date show evidence of copper, gold, molybdenum and other minerals across all seven tenements.

Angkor Gold is focused on building shareholder value by converting prospects into sustainable revenue streams. The company’s initial successful transaction in Cambodia’s growing mining sector was the asset sale of what planned by the purchaser to be the first commercial gold mine in the country, Phum Syarung, which received its mining license in 2016. Angkor signed an agreement with Mesco Gold in 2013 to receive a 2 to 7.5 percent net smelter return (sliding scale) from the gold mine. Angkor is now focused on building further shareholder value through its partnerships on its Halo, and Okalla West prospects and further development of its Andong Meas and Koan Nheak licenses. “I am committed to opening every door I can to identify the most advantageous joint ventures on our flagship prospects,” stated Mike Weeks, CEO of Angkor Gold.

Investment Highlights

  • The only publicly-traded North American company with mineral assets in Cambodia.
  • Supportive government in emerging mining jurisdiction.
  • Well positioned to take advantage of growing Southeast Asian markets.
  • Management team has significant share position in company.
  • Advancing 30-plus prospects on licenses covering approximately 1,300 square kilometers across 7 mineral concessions.
  • Building a royalty portfolio through sales and agreements with successful international partners.
  • Angkor’s social development programs highlight their ongoing commitment to ethical and responsible industry practices in Cambodia.
  • Low-cost, efficient exploration.
  • Regional exploration on several targets.

Mining in Cambodia

Cambodia holds excellent geology and mineral potential, especially for gold, copper and molybdenum. Up until 10 years ago, the nation remained largely underexplored; however, over the past decade, the Cambodian government has been keenly focused on building and improving its mineral industry. In 2013, the Cambodian government announced that 139 exploration licenses had been issued to 91 companies, with the majority focused on gold, copper, iron and coal.

“The country has taken important steps forward, and made some significant achievements in the last 10 years to catch up with international standards,” commented Weeks. “The banking system is strong, the licensing system is solid, a young willing workforce is present, and the geology is great.” Cambodia is centrally located in Southeast Asia and is close to the markets of India, China, Korea and Japan. These prosperous neighbors have made huge investments in trade agreements with Cambodia.

A founding member of the Cambodian Association for Mining and Exploration Companies (CAMEC), Angkor Gold is presently the only publicly-traded North American company with mineral assets in Cambodia. Angkor’s management has built strong relationships with all levels of government, from village leaders to the Ministry of Mines and Energy.

“We have an exceptional relationship with the Ministry of Mines and with the government of Cambodia in general,” explained Weeks. “We are breaking new ground, literally and figuratively; and fortunately the Ministry of Mines is very cognizant of the fact that they have to get it right and in a timely manner. Our experience working with the government in Cambodia has been great. They are focused on a streamlined approach.”

Building relationships through corporate social responsibility

Angkor Gold is proud of its Corporate Social Responsibility (CSR) initiatives. The company is committed to involving communities at the earliest stage of projects and to addressing the needs of those communities. Some of Angkor’s CSR projects include a community health center, eight containers of medical equipment, education programs, capacity-building to empower communities and minorities, and sustainable farming assistance.

“We’re extremely proud of our CSR. It’s our passion,” stated Weeks. “I think our CSR program is the reason we’re trading above our peers. More investors today have a social conscience and they want to invest in a company that’s doing right by the local people.”

Key Success: Sales and Partners

Angkor’s business strategy in Cambodia is based on project generation and building a royalty portfolio based on sales and agreements with successful international partners. In the past three years, Angkor has completed nine successful transactions valued at almost US$16.5 million, including the sale of the Phum Syarung property in Angkor Gold’s Oyadao South tenement to Mesco Gold. Angkor discovered the Phum Syarung epithermal gold deposit, located in the northeastern province of Ratanakiri, in 2011. The 12 km2 property comprised of the Phum Syarung and Blue Lizard prospects was sold to Mesco Gold for combined US$1.9 million ($1.4 million paid and the final $500,000 due following the issuance of mining license) and a 2.0 to 7.5 percent sliding-scale Net Smelter Return was agreed to based on the price of gold.

Cambodia’s Ministry of Mines and Energy and environmental authorities have completed environmental impact assessment reviews and the mining license was granted to Mesco in September 2016.

“Angkor continues to generate shareholder value through the exploration of key prospects in the region,” said Weeks, “and we are very confident in our ability to identify and secure long-term partners.”

In 2016 Angkor announced that it had entered into a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) to explore ANGKOR’s 100-percent owned Oyadao South license. The agreement gives JOGMEC the option right to acquire 51-percent of the Oyadao South license for a total investment of US$3 million in exploration expenditures over a 3 year period.

Key Properties with Potential to Build Shareholder Value

Halo copper-molybdenum porphyry prospect

The Halo copper-moly porphyry prospect covers an area 9km2 hosting a 7.25 km2 copper anomaly with a 0.9 km2 moly anomaly in the southeast portion of Angkor Gold’s Oyadao South license in Ratanakiri Province, Cambodia. Halo is located within a known corridor of mineralization which envelopes the company’s Dokyong, Otray Cassava, Phum Syarung North, Adrian and Han vein prospects, as well as the Mesco Gold mine site.

Angkor Gold - Cambodia’s Premier Project Generator

Location map showing the Halo and Otray Vent

Halo was first announced by Angkor Gold in June 2015 following geological field mapping, including a geochemical survey of over 20,000 termite mound samples, that identified copper and molybdenum mineralization in veins and veinlets in intrusive and volcanic rocks.

Field exploration at Halo has also included electromagnetic (EM) and induced polarization (IP) geophysics, short-wave infrared (SWIR) alteration studies and a rock chip geochemical survey and is also the focus of a Masters project at UBC (University of British Columbia).

The SWIR alteration mapping, geology mapping and surface geochemistry highlights the strong mineralization potential at Halo.

Angkor Gold - Cambodia’s Premier Project Generator

Geological map of the Halo and environs

“These developments are exciting,” stated CEO Mike Weeks. “The large scope of the project merits a partnership with a veteran company that can advance the project, while allowing Angkor Gold to maintain our focus of gold-bearing deposits. Our management team is now actively seeking a qualified joint partner for the Halo project.”

CW molybdenum-copper porphyry prospect

The CW molybdenum-copper porphyry is located 28 kilometres to the north of Halo in Angkor’s Andong Meas tenement in Ratanakiri Province, Cambodia. CW has a coincident Cu-Mo surface anomaly of >1km East-West by 750m North South. Recent trenching has highlighted excellent Mo anomalism in areas that have not yet been drill tested. Mineralization identified in drilling at CW presents as porphyry quartz vein stockwork with molybdenite and copper mineralization in veins and veinlets.
Angkor Gold - Cambodia’s Premier Project GeneratorAngkor Gold - Cambodia’s Premier Project Generator

Work to date on the area has included stream sediment and multiple surface geochemical surveys, an airborne magnetic survey, detailed geological and SWIR mapping and an IP survey that identified a large chargeability anomaly.

Two phases of diamond drilling were carried out within this area between December 2014 and March 2015. Results confirmed exceptionally high presence of molybdenum, tungsten and silver.

Molybdenum ranges of 0.03% (low grade) to 0.07% Mo (high grade) from global trends, highlights the potential at CW from recent trenching results ranging from 0.024% to 0.056% Mo.

Angkor Gold - Cambodia’s Premier Project Generator

Copper 1.4 x 1km anomaly

Angkor Gold - Cambodia’s Premier Project Generator

Molybdenum 1.2 x 0.75km anomaly

The CW prospect currently has the potential to contain large tonnage, low-grade porphyry mineralization. As part of its recently launched 2015/16 exploration program, Angkor Gold will be conducting field termite geochemical surveys as a follow-up on stream sediment survey gold anomalies to the west and northwest of the CW prospect.

Okalla West

The Okalla West prospect is a multi-phase intrusive system located in Angkor Gold’s Banlung license in Ratanakiri Province. The prospect is in the same tenement as the Okalla copper-gold-molybdenum bearing feldspar porphyry discovered in 2008. The Okan fault to the southeast ties both prospect areas to the same regional system structure. There is evidence of a strongly fractured, structurally controlled system within the Banlung Intrusive Complex. Okalla West was first identified in October 2015 following soil sampling of 12,550 termite mounds on this 25km2 Complex.

The results show that Okalla West hosts a 2-square-kilometer gold anomaly trending northwest-southeast with visible gold in 83 percent of the anomaly pan concentrates. “What makes these results meaningful are the shape of the gold, the size of the gold anomaly and its relation to the rest of Okalla Prospect,” explained Dau. “It’s big — there is significant visible gold, and we are close to the source.”

The gold anomaly trend is consistent with the interpreted fault system identified in the airborne magnetic survey. In addition to gold, soil survey results have indicated multiple element anomalies, including copper and nickel.

Angkor Gold - Cambodia’s Premier Project Generator

In November 2016, Angkor Gold announced the lab results from the augured holes confirmed the surface geochemistry, termite mound, pan-concentrate gold anomaly previously identified in Okalla West. The gold grades in the assays, indicate an increase from the surface to the bottom of the holes, ranging from 0.01 to 2.45 g/t. The completed portion of the auger program represents only 0.67 km2 of the 4 km2 surface gold anomaly area currently being explored.

The hydrothermal gold signature in Okalla West is significant, as it geochemically connects the previously drilled Okalla prospect to Okalla West, potentially, regionally linking the source for both prospects to the Okan Fault, opening up further gold exploration potential within the Banlung Tenement and locally within the region.

Angkor Gold - Cambodia’s Premier Project Generator

Management

Mike Weeks – Chief Executive Officer

Mike Weeks has 25 years of experience in project management of power generation and petroleum-related industries. Weeks spent more than 14 years negotiating with foreign governments in developing and implementing natural resource concessions. During that time, he was instrumental in the implementation of training programs for local labour force development, professional accreditation, and made significant str des in self-sustaining community growth and enhancement in developing countries. He has an engineering background and holds a First Class Power Engineering Certificate. Weeks has managed large projects in Canada, Africa and Europe, constructing and managing several large production facilities in North Africa. He was, and continues as a founding director of a petroleum training company as well as holding directorship in a financial service company.

John-Paul Dau – Vice President of Operations

John-Paul Dau, now based in Phnom Penh, Cambodia, brings 10 years of experience managing various projects in the land development business and 5 years of working in the venture capital business working with private and publicly-traded companies. He is a co-founder of Innova Capital, a Calgary-based venture capital firm that specializes in raising international money for development projects. Dau’s specialties are project management, financing and development. He is one of the founders of Prairie Pacific Mining Corp and lives in Phnom Penh, Cambodia.

Stephen Burega – Vice President of Corporate Development

Stephen Burega has spent the past 10 years intimately involved in the launch and management of a number of natural resource companies. Previous to that he worked in the finance, communications, and government relations arenas for 12 years. He brings experience spanning both national and international projects, private and public sectors. Burega has held senior management roles for a variety of both publicly-traded and private natural resource companies, and has been active on a number of boards for both profit and not-for-profit organizations.

Stephen Lautens – VP Corporate Affairs

Mr. Lautens has a wide range of experience in communications, investor relations and business development as part of executive management teams of both private and public companies. He was VP Corporate Communications of Inter-Citic Minerals Inc., a TSX-listed gold exploration company with a large project in western China, before it was sold in a friendly takeover to a major Chinese mining company. Prior to that, Mr. Lautens was Executive VP of a company developing a technology project in China. He also served as VP Business Development of The Workflow Automation Corporation, a private Canadian software company sold to BEA Systems Inc. (now Oracle). Mr. Lautens is a lawyer and had his own law practice in Toronto for ten years. He is a Governor of the National Newspaper Awards and has served as president of a number of not for profit organizations. 

Delayne Weeks – Vice President of Social Development

Delayne Weeks, born in rural Alberta, studied Horticulture, Commerce, and Education and is a graduate of the University of Alberta. Delayne instructed business courses at post-secondary institutions and consulted in economic development and entrepreneurship over several decades. She also owned and operated a variety of successful businesses in the oil and gas service sector and financial services sectors. Since 2009, Delayne has been instrumental in establishing and implementing CSR programs in Cambodia with Angkor Gold Corp. Canada. Angkor Gold’s CSR programs demonstrate a method of progress with a social conscience, ethical development and a way to build value for all stakeholders in the Kingdom of Cambodia.

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