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Angkor Gold Corp
Symbol ANK
Shares Issued 105,980,543
Close 2018-06-21 C$ 0.20
Market Cap C$ 21,196,109
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Angkor grab samples up to 20.6 g/t Au at Andong Meas

2018-06-21 12:01 ET - News Release

Mr. J.P. Dau reports

SAMPLING AND MAPPING PROGRAM AT ANGKOR'S WILD BOAR AND WILD MONKEY PROSPECTS RESULTS IN 20.6 GPT GOLD GRAB SAMPLE

Angkor Gold Corp. has provided an update on the recent mapping and sampling program at Angkor's Andong Meas licence in Cambodia.

Highlights of exploration at Wild Boar and Wild Monkey prospects include:

  • Multiple grab samples from Wild Boar with gold values of up to 20.6 grams per tonne gold;
  • Completed geological mapping and prospecting at Wild Monkey with the Institute of Technology of Cambodia;
  • Evidence of multiple mineralized epithermal quartz veins;
  • Evidence of skarn-type alteration in the Wild Monkey prospect.

The primary purpose of the mapping and sampling program was to follow up and define gold targets (such as Wild Boar). The geological data, combined with earlier geochemical and geophysical surveys, will provide the necessary data for the identification of drill targets.

"This is not the first time we have found impressive gold results in Andong Meas," said J.P. Dau, Angkor's president. "We expected elevated gold concentrations around the artisanal mining areas, which the assays have now confirmed. What makes them even more exciting is that with Wild Boar and Wild Monkey, we have now identified four anomalous gold zones at Andong Meas. These results are a critical step in planning our next drill program on the property."

              ASSAY RESULTS
 
Sample ID     Gold (g/t)     Silver (g/t)

V035612           20.60             9.15        
V035613           19.45             3.50        
V035609           17.65             8.44        
V035614           17.60             9.92        
V035606            9.24            14.95       
V035605            8.55             7.57        
V035604            3.98             1.61        
V035603            2.74             0.16        
V035584            0.48             4.15        
V035583            0.34            67.70       
V035582            0.28            35.90       
V035581            0.22             3.90       

Previous exploration

The Andong Meas licence hosts the company's Canada Wall copper-molybdenum-gold porphyry system and the adjacent South Creek copper porphyry system prospect, as well as several gold targets, including the Wild Boar, which has seen extensive artisanal mining in the past, and Wild Monkey, which showed multiple surface samples with gold grades up to 3.93 g/t. Exploration this season was designed to resample the higher-grade showings around Wild Boar, and map and sample the quartz vein material found in Wild Monkey. Rock chip and grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.

Geological mapping and mineralization styles

Institute of Technology of Cambodia geologists worked with Angkor's senior exploration team to complete further mapping of a 24-sqaure-kilometre section of Angkor's Andong Meas licence. The highly prospective gold area mapped was not previously examined in detail by Angkor's geological staff.

The mapping program in the Wild Monkey area showed several dominant rock types, including the metamorphic basement rocks consisting of gneisses and marbles, granites, diorites and flood basalt. Little to no work has been previously done to differentiate rock types within the metamorphic basement rocks in northeast Cambodia. Mineralized quartz vein in float and outcrop were found throughout the mapping area, with the best samples submitted to ALS for analysis.

In addition to the gold-bearing quartz veins, skarn alteration on the contact between granites and marbles in the area was observed. No mineralization was observed within the skarn alteration, but the presence of carbonate rocks and mineralized intrusive rocks suggests that there is the possibility of skarn mineralization in the area.

Sample methodology

Grab samples are collected as niche samples of rock material of specific style or character of interest. A target sample weight of three to five kilograms is collected for assay. Sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane (Laos) utilizing a 50-gram subsample of 85-per-cent passing 75-microm pulped sample using fire assay with AAS finish on an aqua regia digest of the lead collection button. Multielement assay is completed at ALS in Brisbane, Australia, utilizing a four-acid digest of a one-gram subsample of 85-per-cent passing 75-microm pulped sample and determination by ICP-AES or ICP-MS for lowest available detection for the respective element. Samples are dried for a minimum of 12 hours at 105 degrees Celsius.

All types of samples are prepared for assay at the NATA-accredited ALS Cambodia sample preparation facility in Phnom Penh. Field duplicates of soil samples are also collected routinely (approximately one every 20 samples). This sample technique is the industry norm and is deemed appropriate for the material.

Industry-standard quality assurance/quality control protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available pulp CRMs and pulp blanks into all batches -- usually one of each for every 20 field samples. Additional blanks used are made from home from barren quarry rock. Quality assurance/quality control data are routinely checked before any associated assay results are reviewed for interpretation and any issues or anomalies are investigated before results are released to the market. No issues were raised with the results reported here.

All assay data, including internal and external quality assurance/quality control data, and control charts of standard, replicate and duplicate assay results, are communicated electronically.

About Angkor Gold Corp.

Angkor Gold is a public company listed on the TSX Venture Exchange and is a leading mineral explorer in Cambodia, with a large land package and a first-mover advantage, building strong relationships with all levels of government and stakeholders.

Dennis Ouellette, BSc, PGeo, is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA No. 104257) and a qualified person as defined by National Instrument 43-101. He is the company's vice-president of exploration and has reviewed and approved the technical disclosure in this document.

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