VANCOUVER, British Columbia, Oct. 10, 2013 (GLOBE NEWSWIRE) -- ANGKOR GOLD CORP. (ANK.V) ("ANGKOR") announces that the Ministry of Industry, Mines and Energy (MIME) of the Kingdom of Cambodia issued two new Exploration Agreements, totalling 346km2 to ANGKOR, all in the northeast of Cambodia. The new agreements were all originally contained in the areas covered by two Memoranda of Understanding ("MOUs") signed between MIME and Angkor in January 2011.
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Scott Donahue, ANGKOR's COO, commented, "The decision to convert the MOUs to Exploration Agreements comes on the back of many months of baseline exploration by our team of international geologists. I'd like to thank them for all their hard work. Our regional geological database is growing rapidly and is proving a very useful tool for our grassroots work and negotiations. We look forward to providing updates on the prospects and targets we're already identifying within these new licenses."
The Trapean Kraham Agreement (175km2) covers stream sediment multi-element geochemical anomalies over an Otray-style fracture corridor in a granodiorite intrusive with hornfelsic roof pendants. The main gold anomalies appear to be an extension of the mineralization of Kunmum prospect in our Banlung North tenement in Ratanakiri Province, where a recent 5680 termite sample program has just been completed and is currently being processed.
Koan Nheak (pronounced "Cognac") Agreement (171km2) lies immediately south of the town of the same name in the northeast of Mondulkiri Province. It covers three prospects of interest: Peacock in the west, centred on a diorite intrusive which is surrounded by multiple stream sediment geochemical anomalies; East Ring in the east, centred on a very much smaller diorite with strong anomalous gold in the stream sediment survey; and Straddle in the south, where two contiguous arsenic anomalies occur in the stream sediment survey. Numerous sulphide-rich quartz veins, on one of which field grab sample returned greater than 3 g/t Au, were observed on Peacock; and in the south are numerous coincident Au and Cu anomalies with visible malachite and azurite in several locations.; VLF (13 km), Scintillometer (14.5 km) , Magnetometer (14.5 km), Geology mapping (17 km2) and termite sample surveys (1334 samples) were conducted in 2013, primarily in the Peacock Prospect area. These surveys coupled with the ALS geochemical results have highlighted several follow-up granitoid intrusive-related exploration targets (porphyry and epithermal) for the 2013-14 field season.
The QP for the technical content of this release, which he wrote and approved, is Adrian G. Mann, P.Geol., VP Exploration for ANGKOR. He is a graduate of London University and the University of the Witwatersrand, with over 45 years world-wide experience in mineral exploration and mining geology. Dr. Mann lives in Calgary, Alberta.
ANGKOR holds five other exploration licences in the Kingdom of Cambodia covering a total of 1102 km2, over which the company has been actively exploring over the past four years, all covered by stream sediment geochemical sampling, reconnaissance field mapping and geological mapping by satellite image interpretation. ANGKOR has flown low level aeromagnetic surveys over most of the ground, drilled 18,737 metres of NQ core in 148 holes; and has collected in excess of 20,000 augered 'C' zone soil samples and over 32,000 TMS in 12 centres of interest, over a combined area of 70km2, in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.
ANGKOR GOLD CORP., a public company listed on the TSX-Venture Exchange, is Cambodia's premier gold explorer with a significantly large land package and a first-mover advantage with excellent relationships at all levels of Government (local to national).
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ANGKOR GOLD CORP.
Mike Weeks, President
Telephone: (780) 568-3801