Angkor Gold Corp. is pleased to announce the commencement of a focused and a regional exploration program on Angkor's 100% owned Oyadao South license with its partner, Japan Oil, Gas and Metals National Corporation.
The focused exploration program will consist of a drill program, a geophysical survey and surface geology on the Halo copper porphyry style target. The initial diamond drill program will consist of approximately 1,200 metres of HQ3 drilling designed to support the interpretation of the Company's previous IP program. Three 400 metre drill holes are planned along the IP lines in the centre of the most prospective area of the Halo porphyry style system. The holes are intended to better determine where to follow up with an additional drilling program planned for later this year. Drilling is expected to commence June 10.
The regional exploration program will consist of geochemical sampling and geological mapping in areas considered prospective for copper porphyry style mineralization. Areas with identified airborne magnetic anomalies are targets of interest to the Company, especially where intrusions also occur. Of particular focus is a 13 square kilometre area about 4.5 kilometres northwest of Angkor's Halo prospect. The target area includes a magnetic anomaly as do most copper porphyry style mineralization systems.
"The Angkor-JOGMEC team is looking for more copper porphyry style systems like Halo in the area as they seldom occur alone," said Dennis Ouellette, Angkor's Exploration Manager.
A total investment of US$3 million in exploration over a 3 year period has been committed by JOGMEC under a Joint Exploration Agreement ("JEA") with Angkor. The JEA gives JOGMEC the option to acquire 51% of the Oyadao South license from Angkor.