Four New Gold Anomalous Targets Found at Andong Meas

TORONTO, Dec. 02, 2020 - Angkor Resources Corp. (TSXV: ANK and OTC: ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to report on the recently completed mapping and sampling program on its 100% owned Andong Meas property.

Highlights

• Four new epithermal anomalous gold targets have been identified by Angkor’s team around the outer rim of the previously discovered Canada Wall copper porphyry target
  
• The anomalies appear to be similar to other structurally controlled epithermal gold occurrences identified on the Andong Meas and Oyadao North licenses
  

A detailed soil sampling program by Angkor’s team has identified two new gold anomalous targets to the east and southeast of the main anomalous area at the Canada Wall (CW) prospect on the Andong Meas license. CW is a copper molybdenum porphyry occurrence with several gold anomalies surrounding it.

“This is very similar to what we have seen at other identified gold anomalies at Oyadao North license, and elsewhere on the Andong Meas license,” stated Dennis Ouellette, VP of Exploration. “These anomalies are structurally controlled epithermal gold occurrences. The benefit of this type of structure is typically their proximity to surface with possible high-grade ore shoots. These new areas will be examined immediately to determine the best methods of evaluating them to a drill-ready stage.”

“Artisanal miners on the Canada Wall property were recovering gold from creeks during this past rainy season,” stated Stephen Burega, CEO. “The Company sent out a crew to pan along two creeks not previously sampled to test for gold. In addition, the banks of five creeks were soil sampled to determine if the source of the gold could be discovered and we have high expectations that we have in fact identified additional significant gold targets.”

Further gold and multi-element assay results from the soil sampling are pending.

A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/620b73af-734c-452a-967c-92657ac97a20

Map #1 – The above map shows the recent sampling program locations, new gold anomalies, and pancon index results

PREVIOUS EXPLORATION

The Andong Meas License 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 showed multiple surface samples with gold grade up to 70.7 gpt, and Wild Monkey that showed multiple surface samples with gold grade up to 3.93 gpt. Exploration programs were designed to re-sample 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.

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

Angkor maintains a rigorous sample quality control and assurance protocol, with the customary insertion of blanks and standards, cross-checking and duplicate analysis, retention of all saw-split cores and sample pulps at their gated and fenced secure facility in Banlung. Analysis for publication are all done by accredited third party laboratories, usually ALS-Chemex in Vientiane or Perth, by SFA and AAS finish for gold, or ICP-MS for base metals. In-house geochemical analysis of soil and termite mound samples are done at the Company’s Banlung laboratory by XRF for base metals and by panning for qualitative gold detection.

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-Chemex laboratories. All soil and rock samples are submitted to ALS Mineral-Australian Laboratory Services (Cambodia) Co. Ltd for preparation in Phnom Penh, and gold analyses are done by ALS by standard fire assay in their Vientiane laboratories. All other analyses are by Aqua Regia digestion with ICP-AES/ICP-MS (51 element ME-MS41 package) in their Australian laboratories. Initial assays use their Au-ICP22 method of standard fire assay with an ICP-Atomic emission spectrometry finish on a 50gm aliquot, which has a detection range of 0.001 to 10 g/t. Check assays use the Au-AA26 method of standard fire assay with an ICP-Atomic absorption spectrometry finish again on a 50gm aliquot, which has a detection limit of 0.01 to 100 g/t.

Dennis Ouellette, B.Sc, P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). He is the Company’s VP Exploration on site and has reviewed and approved the technical disclosure in this document.

ABOUT ANGKOR RESOURCES CORP.

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading mineral explorer in Cambodia with a large land package. In 2019 it added Block VIII, a 7,300 square kilometre oil and gas exploration license in Cambodia, to its exploration portfolio.

CONTACT:

Stephen Burega, CEO
Telephone: +1 (647) 515-3734
Email: sb@angkorgold.ca
Website: http://www.angkorgold.ca or follow us on Twitter @AngkorGold.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.