Angkor Gold Corp and its exploration partner Japan Oil, Gas and Metals National Corporation (JOGMEC) intend to increase the drill program at the Halo prospect of Angkor’s Oyadao South licence in Cambodia.
The decision has been made after the partners reviewed preliminary data from the ongoing IP program and evaluated core from the initial 813 metres of the planned 1200 metre diamond drill program.
Field observations show that the porphyry-style mineralisation and alteration exposed on surface continues to the bottom of the initial two holes at Halo. Preparations are being made for the planned third hole and an additional fourth hole, each with planned depths of 400 metres targeting copper and IP anomalies.
All drill holes are within the area now being covered by the IP program covering the Halo porphyry-style system. Angkor has already identified a 7.25sqkm copper anomaly on the property.
Drilling is intended to further define and test the structure and mineralisation of the anomaly.
Field observations of the core indicate that pyrite, molybdenum and copper veinlets and veins exposed on sparse surface exposures continue to the bottom of the first two holes in the targeted intrusive/volcanic rock sequence.
Detailed logging of magnetic susceptibility and short wave infrared analysis of the core will help determine where the program is in the porphyry system. The core samples are being logged and split in preparation for assay.
“The presence of porphyry style molybdenum and copper mineralised veins is very encouraging,” said Angkor’s exploration manager Dennis Ouellette. “The information gathered from this modest geophysical and drill program will allow us to develop high-potential targets for future drill programs.”
The IP profile is consistent with a porphyry-style system consisting of a shallow chargeability high resulting from pyrite/clay alteration draped over a less chargeable potassic alteration zone.
Under a Joint Exploration Agreement (JEA) with Angkor, JOGMEC has committed a total investment of US$3 million in exploration at the Oyadao South licence over a 3 year period. The JEA gives JOGMEC the option to acquire 51% of the licence from Angkor.
Angkor Gold