Angkor, Blue River Assay up to 2.45 g/t Au at Okalla

Angkor, Blue River Assay up to 2.45 g/t Au at Okalla

November 11, 2016 ( – Angkor Gold Corp. (ANK.V) has received the phase 1 auger program assay results from the Okalla West, Blue River Resources Ltd. (BXR.V)joint venture prospect.

The lab results from the augered 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 (grams per tonne). The completed portion of the auger program represents only 0.67 square kilometre of the four-square-kilometre 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 J.P. Dau, vice-president of operations. “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 1,208 proposed, with a maximum auger depth of 6.6 metres. A total of 116 holes were selected for fire assay gold and multielement analysis, totalling 235 samples, in addition to 22 certified reference material standard inserts and blanks for QA/QC (quality assurance/quality control) 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.

“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 four metres,” stated Jonathan Soper, PEng. 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.”

The qualified person for this release, which he wrote and approved, is Kurtis Dunstone, BSc geology, senior project manager for Angkor. Mr. Dunstone has 15 years of postgraduate mining and global exploration industry experience across Australia, Canada, Papua New Guinea and Cambodia, and is a current member of the Australian Institute of Geoscientists.

About Angkor Gold Corp.

Angkor’s QA/QC protocol requires calibration standards and blanks be inserted at a rate of 10 per 100. In addition, periodic checks are run on a selected spectrum of samples at ALS laboratories. All soil and rock samples were submitted to ALS preparation laboratories in Phnom Penh, and gold analyses were done by ALS by standard fire assay in its Vientiane laboratories; all other analyses were by ICP-MS in its Australian laboratories.

Angkor’s six exploration licences in Cambodia cover 1,352 square kilometres, which the company has been actively exploring over the past six years. The company has now covered all tenements with stream sediment geochemical sampling and has flown low-level aeromagnetic surveys over most of the ground. Angkor has diamond drilled 21,855 metres in 190 holes, augered 2,643 metres over 728 holes, and collected over 165,000 termite mound samples and B and C zone soil samples in over 20 centres of interest over a combined area of more than 140 square kilometres, in addition to conducting numerous trenches, IP surveys and detailed geological field mapping. Exploration on all tenements is continuing.

About Blue River Resources Ltd.

Blue River Resources has a 100-per-cent interest in two mineral properties in the Quesnel Trough copper belt: the Castle copper project near the Copper Mountain mine, Princeton, B.C., and the Mazama copper deposit, Okanogan county, Wash.

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