Angkor Gold Corp Initiates 2013 Exploration Season After the Monsoon Season in Banlung Cambodia
VANCOUVER, British Columbia, Dec. 13, 2012 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (TSX-V:ANK) ("ANGKOR") is pleased to announce that the 2013 exploration program will be launched shortly with geochemical surveys including stream sediment and termite mound sampling on all five of it's 100% owned tenements. The stream sediment program will further expand Angkor's regional knowledge and establish priority for follow up exploration. Termite mound sampling has proven to be a quick and effective way to define geochemical anomalies and will be used on zones with known gold occurrences such as the 10Km fault corridor between the Phum Syarung and Dokyong prospects.
Detailed geological field mapping will also begin in Andong Meas, Dokyong and Kunmum; the primary focus is to refine further geochemical targets for diamond core drilling which will be announced early in 2013.
Last season, drill results from the Phum Syarung Prospect included 16.67g/t over 4.05m http://angkorgold.ca/blog/?p=26
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The VP Exploration, Dr Adrian G Mann commented: "Our successes over the past seasons are a direct result of the aggressive exploration strategy we have adopted, and reflect the dedication and hard work of our geological team. I have every confidence that they will continue to build on these successes, bringing the more mature ones to fruition, while we further advance some of our other promising targets."
Mike Weeks, CEO, presently in Cambodia, commented: "We are excited to pick up exactly where we left off from our last exploration season and to build on the momentum our team has created. Our strategy is straightforward: ACTION - meaning exploration, deal-making and continuing our sustainable community development program. We've been exceptionally busy over the last quarter and being able to initiate our 2013 exploration season earlier than expected is a testament to that effort. I'm anticipating being able to release a steady news flow of developments in 2013 as we help develop Cambodia's gold mining industry."
ANGKOR GOLD CORPORATION is a public company listed on the TSX-Venture exchange. It is Cambodia's premier gold explorer with a significantly large land package, a first-mover advantage with excellent relationships at all levels (local to national).
Cambodia offers Angkor's shareholders an exciting advantage: It is relatively unexplored but has a well known history of artisanal mining; Angkor's prospects are accessible, mineable and well-serviced; Angkor continues to explore efficiently, maximizing the low exploration costs. Cambodia has a stable, democratic government, a business-friendly environment, and strong infrastructure in place.
Angkor's midterm ambition is to self-finance its exploration activities. In Cambodia, Angkor intends to make a positive difference while rewarding its shareholders with strong, ethical value creation.
Angkor currently has 3 major projects each with multiple prospects: "Border", "Phum Syarung" and "Okalla". Solid progress has been made on each over the past 3 years. 24% of the company is owned by insiders, and the management team offers the right blend of technical and business experience.
The company has 5 exploration licenses in the Kingdom of Cambodia covering a total of 1180 km2, and 3 Memoranda of Understanding with the Ministry of Mines, Industry and Energy covering a further 1499 km2. The company has been actively exploring these concessions over the past 3 years, and has now covered all tenements with stream sediment geochemical sampling, has flown low level aeromagnetic surveys over much of the ground, drilled 17,556 metres of NQ core in 143 holes, of which 8,815m in 66 holes were drilled in the 2012 season; and has collected in excess of 20,000 'C' zone soil samples in 8 centres of interest, over a combined area of 20km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.
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