Angkor Gold Announce Assay Results Confirm Gold at Okalla West Prospect

GRANDE PRAIRIE, AB–(Marketwired – November 09, 2016) – Angkor Gold (TSXV:ANK) is pleased to announce the Phase 1 auger program assay results from the Okalla West, Blue River Resources joint venture prospect.
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 km²of 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.
“These auger results demonstrate the potential in the Okalla West prospect,” commented JP Dau, VP of Operations. He continued, “It is encouraging to see that the gold assay results validate the visible gold seen in the large surface gold anomaly originally identified in the 2015 termite soil program. This exploration plan was designed to investigate the potential of a near surface gold resource and we are pleased with the results to date.”
The auger assay results indicate that the gold present in Okalla West has a hydrothermal source geochemical signature. In areas of higher gold concentrations, there is a good correlation with areas of local elevation, pH acidic soils, and coincident anomalous copper, lead, zinc, bismuth and arsenic within the Okalla West prospect area.
The auger program on the Okalla West prospect completed to date, consists of 705 holes completed out of the 1208 proposed, with a maximum auger depth of 6.6 meters. 116 holes were selected for fire assay gold and multi-element analysis, totaling 235 samples, in addition to 22 certified reference material standard inserts and blanks for QA/QC analysis.
The next steps in the exploration program are to test the overlapping surface geochemistry and auger anomalous gold areas with trenching and mechanical drilling, such as Reverse Air Blast, to better interrogate the potential of the gold anomaly. The trenching and mechanical drilling will be used to further determine the size and quality of the prospect. Detailed on the diagram below are: the proposed trenches, the pan-concentration results from termite mounds, as well as the location of the gold intersections from the recent auger drilling.
“Operating through the rainy season and dealing with high water tables, bedrock was contacted with only a few of the holes augered. We have minimal data of the material past 4m,” states Jonathan Soper, P.Eng. Chairman of the Advisory Board for Blue River Resources. “With the grade of the gold increasing with depth there is potential for another zone below the gold near surface.”
Read the full press release.
Connect with Angkor Gold (TSXV:ANK) to receive an Investor Presentation.