Angkor Gold (TSXV:ANK) CEO Mike Weeks announced a company update that highlights their properties and what is on the horizon for 2016.
As quoted in the press release:
At Okalla West Prospect, (Okalla Press Release) we have just completed the first phase of our program which was designed to identify the source of the excellent gold samples we have found there. Since the press release our team has identified further significant gold occurrences. This continues to excite the team and set the stage for the next phase of our program. BETEC was deployed to conduct an IP and Gravity survey on the 2 km2 anomaly. Okalla West is yet another project that has drawn real interest from other companies for a possible joint venture.
Halo Prospect is our large copper-molybdenum porphyry (Halo Press Release). Our early-stage work programs are beginning to unravel the world-class potential of this site. The extremely high levels of copper results in our soil sampling program are key contributors to Halo attracting international attention from a number of global players who are especially focused on base metals. We have hosted numerous site visits with these potential partners with the intention of bringing the right one to the table with the technical and financial fire power to prove out what our team already believes to be a huge porphyry system lurking below the surface.
This New Year has us continuing our mapping and channel sampling program before we transfer BETEC’s focus to the property which will cover the whole of the anomalous area with both IP and Gravity surveys. We expect to have many more drill targets from the program which will keep both ANK and our partners busy in the area for the foreseeable future. It is with a great deal of confidence that we move forward on the Copper, Moly property as we expect to see the demand come back to the base metals market. This also gives ANK diversity in our portfolio, building the numerous other gold prospects.
At Koan Nheak (pronounced cognac) one of our newest licenses, we have deployed a large team to do initial surveys of the area and results, although preliminary, look very favorable. The team has identified several new prospects which is very important as we continue to execute our business model of prospect generator with prospects at various levels of development.
Mesco is very close to securing the final approvals and signatures of the relevant Ministries for what will be Cambodia’s very first commercial gold mine. Meanwhile Mesco has been able to continue with their surface work in preparation for when they have the green light to start the underground development early in the first quarter of 2016. A third vertical shaft has been constructed on the north end of the mining block which is firmly planted on top of the vein system which contains the signature ‘chalcopyrite’ commonly associated with the high grade gold found in this particular system. As well Mesco is looking to further implant itself in Cambodia and has been seeking from ANK other opportunities where they would be able to further increase the tonnage over and above the planned 500 tons per day production currently scheduled in their business plan. We are excited that all of our patience and hard work is finally going to pay off – this a milestone not only for ANK and Mesco but also for the industry in Cambodia.
Delayne made it home for the holidays after a few months in Cambodia and I was so thankful to have her with me. She delivered several presentations in Geneva at the UN Forum on Mining and Sustainability, then returned to Cambodia, advanced some of our local projects and researched a few others. The exploration coloring book has been launched in 4 local communities as Cambodia’s first teaching tool on ethical mineral exploration (Coloring Book) and the water testing lab is operational making it easier and quicker to have results on all sorts of water sources.
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