SOURCE: Angkor Gold Corporation

Angkor Gold Corporation

October 07, 2016 15:55 ET

Angkor Announces Commencement of Preparation of Technical Report Under National Instrument 43-101

GRANDE PRAIRIE, AB--(Marketwired - October 07, 2016) - ANGKOR GOLD CORP. (TSX VENTURE: ANK) ("ANGKOR" or the "CORPORATION") announces that the Corporation has commissioned a technical report ("43-101 Report") to be prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") on the Phum Syarung property. As previously disclosed by the Corporation, the property originally held by Angkor, was sold in 2013. The Corporation retains a 2.0-7.5% sliding scale Net Smelter Return on the project which is based on the price of gold.

Angkor has engaged an independent Qualified Person (QP) from Al Maynard & Associates from Australia to complete a NI 43-101 report with the limited Canadian compliant data available. Angkor expects to be able to file the report shortly. Angkor does not expect the report to disclose a meaningful Canadian compliant NI 43-101 resource estimate.

The information previously disclosed by the Corporation relating to resources, mining studies or reserves was not supported by a report prepared in accordance with Canadian NI 43-101. In compliance with NI 43-101, all non-compliant disclosure and forward-looking statements regarding resource estimates or other information have been removed from Angkor's website. Investors are cautioned not to place undue reliance on information that has not been prepared in accordance with Canadian reporting standards.

The QP for this release, which he has reviewed and approved, is Dr. Adrian G. Mann, P.Geol. He is a graduate of London University and of the University of the Witwatersrand, with 50 years world-wide experience in mineral exploration and mining geology.

ABOUT ANGKOR GOLD CORP.
Angkor's six exploration licenses in the Kingdom of Cambodia cover 1,352 km2, which the company has been actively exploring over the past 6 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, augured 2643 metres over 728 holes, collected over 110,000 termite mound samples and 'B' and 'C' zone soil samples in over 20 centres of interest over a combined area of more than 140km2, in addition to numerous trenches, IP surveys and detailed geological field mapping. Exploration on all tenements is ongoing.

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

Visit our website at: http://www.angkorgold.ca or follow us @AngkorGold for all the latest updates.

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 of the statements made and information contained herein may constitute "forward-looking information". In particular, there are references to the timing of filing and the expected content of the Corporation's 43-101 report. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Corporation undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    ANGKOR GOLD CORP.
    Stephen Burega
    VP of Corporate Development
    Telephone: (647) 515-3734
    Email: sb@angkorgold.ca