With exploration partner Japan Oil, Gas and Metals National Corporation (JOGMEC), Angkor Gold continues as the operator to develop the primary target on the Oyadao South License, which is a copper porphyry system known as the Halo Project.
Under the Company’s earn-in exploration agreement with JOGMEC, JOGMEC has committed to a total of USD $3 million in exploration expenditures over a three-year period which gives JOGMEC a right to acquire 51% of the Oyadao South License.
“Angkor is poised to build on its strongest position in eight years with great partners, advancing projects, and multiple opportunities,” said JP Dau, Angkor’s Vice President of Operations
“Technical international geologists have described our prospects as a geologist’s paradise, with gold identified across multiple projects, large anomalies of copper, and numerous drill targets on each license. I believe 2018 is going to be a stellar year for our company and for Cambodia’s growing mining sector.”
Angkor’s management continues to advance its primary targets on nearly 1000 km2 of mineral rights held by the Company in Cambodia.
Oyadao South Licence: Halo Project
In Q1 2018, JOGMEC committed to spending an additional USD $1 million beyond their original 2017 budget to follow up on encouraging copper results from the Phase 1 drilling program at the Halo Project. Over the coming months, Angkor’s focus on the property will primarily be to follow up on the results in drill hole HAL17-001D, which reported copper and silver mineralisation in the top 99 metres, with anomalous levels of molybdenum corresponding with disseminated sulphides observed in the same interval.
Approximately 1,200 metres of new drilling is planned at Halo in the next two months to drill test newly identified IP targets.
Angkor has a new regional soil and IP program underway, which will provide a better geological understanding of the area which surrounds Halo’s previously identified 7.25 km2 area.
This season Angkor will map the remaining major area of interest on the property with support from the Institute of Technology of Cambodia, where all major rock types, alteration, structure, and mineralization will be logged into Angkor’s data base. The focus of the project will be to identify the most significant mineral occurrences. Once completed, the program will lay the framework for future drilling campaigns.