Angkor Gold Corp.: Discovery of Two New Mineral Targets in Cambodia

GRANDE PRAIRIE, Alberta, Oct. 28, 2014 (GLOBE NEWSWIRE) -- Angkor Gold Corp. (TSX-V:ANK) ("ANGKOR") announces that routine reconnaissance mapping close to the southern boundary of the Oyadao North tenement located two strongly developed silica caps ("Han" and "Adrian") on structures with the same orientation as those that control the Phum Syarung gold deposit and the Otray, Dokyong and Cassava anomalies, which are still being explored in detail. All are less than 20km to the west and southwest. ANGKOR has exploration rights over all of the intervening land. The Company successfully completed the sale of similar geological prospects to Asian buyers, netting $4.3 million and retaining a 7.5% royalty on the Phum Syarung/Blue Lizard Project.

A silica cap is important to exploration for mineralization in an epithermal to mesothermal environment because they are commonly associated with the upper zones of volcanic hosted ore bodies of this nature. The presence of the silica caps is encouraging and the low metal grades in the caps are normal, and need not reflect the grades of underlying mineralized bodies.

Adrian silica cap is on recently cleared plantation land, and is manifest in the southwest as massive vuggy brecciated quartz veins, in which coarse crystalline galena has been observed, occurring along a 600m strike along azimuth 010^o, in medium to coarse grained granite. To the northeast it forms a rugged ridge of silicified dioritic volcaniclastic with finely crystalline disseminated pyrite. The whole cap covers a strike of about 2000m.

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Because the area around Adrian cap is recently stripped of vegetation and had been dozed and graded prior to replanting, all termite mounds were eradicated, and the 'A' and 'B' soils zones are compromised and mixed with parts of the upper 'C' zone. A different approach was needed, so after a pilot program had been run over the Ogama test area, an experimental rubble sampling geochemical survey was tried. Sample traverses were made at 400m intervals with 2 x 1kg samples collected by pick and shovel at 25m intervals. The survey covered an area of 15km², deliberately covering also a part of the termite sampling area of the Han silica cap to cross reference the techniques. One of each of the duplicate samples was pan concentrated for gold and the other duplicate sample was dried and sieved to <80 mesh before being analyzed by XRF for base metals.

There is a strong arsenic anomaly in the north-central area, roughly coinciding with the observed distribution of the siliceous, cherty pyroclastic containing disseminated pyrite. Arsenic minerals are commonly associated with epithermal mineralization. This is repeated by anomalous molybdenum. Lead shows a very strong association with the north-northeast striking fracture, over a strike length of well over a kilometre.

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Han silica cap is about 3km to the east of Adrian cap, in thick bush. It lies on a similar fracture, and was first noticed as a massive grey-white quartz vein, brecciated and vuggy in part striking 250m along azimuth 010^o. Results have been received from the 200m line interval, 4km², termite mound geochemical survey that was undertaken over the occurrence. They show strong arsenic, lead, molybdenum and zinc anomalies over and surrounding the silica cap.

The target area has fresh potassic granite to the east and volcaniclastic rocks to the west. It is too early to assess the potential of the prospect, but this success validates our aggressive exploration philosophy and methodical approach, using low-cost, low-tech methods.

Grab rock samples collected during mapping showed some very exciting metal values, particularly in silver, molybdenum and lead:

				Au	Ag	As	Cu	Mo	Pb	Zn
Sample	Easting	Northing	Comments	ppm	ppm	ppm	ppm	ppm	ppm	ppm
1702347	770561	1509312	Quartz with molybdenite-chalcopyrite	--	--	11	23	2	634	4
1702350	764854	1507975	Quartz float; highly oxidized	--	0.9	4	58	17	681	62
1702370	766569	1508150	Oxidized quartz float	0.01	5.6	38	45	32	749	14
1702371	766648	1508124	Vuggy quartz float; oxidized	--	0.2	21	22	8	450	17
1702372	766750	1508130	Highly oxidized quartz float	0.27	31.5	179	44	40	792	20
1702373	766734	1508277	Moderately oxidized quartz outcrop	0.11	15.5	61	30	225	478	16
1702734	767395	1510041	Recemented, brecciated quartz	--	0.5	24	152	30	1,070	115
1702737	766756	1508559	Galena-pyrite-(goethite) in vuggy quartz	0.06	4.4	17	711	29	4,990	2,630
1702742	766521	1508789	Vuggy fractured quartz	--	3.1	39	31	71	1,780	86
1702743	766724	1508324	Vuggy quartz with weak oxidation	--	4.8	25	25	92	289	26
1702744	766757	1508352	Vuggy quartz with weak oxidation	0.15	80.6	63	271	43	1,540	97
1702746	766747	1508704	Vuggy quartz with weak oxidation	0.05	4.9	92	61	104	815	19

All rubble and termite samples were analysed in-house for base metals by X-Ray Diffraction, which has been calibrated against some 2500 samples sent for ICP-MS analyses by ALS-Chemex. Duplicate, blank and standard QA/QC samples are run on a random basis which average 10 samples per 100, and instrumental drift adjustments are made on the basis of the blanks and standards every 100 samples. Rock samples were dispatched to ALS-Chemex to be analysed for gold by SFA and for other elements by ICP-MS.

Exploration is ongoing, with the intention of continuing detailed mapping and an electromagnetic survey over the main anomalous areas.

The QP for this release is Dr. Adrian G. Mann, P.Geol., VP Exploration for ANGKOR, who wrote and approved this release.

ANGKOR's 7 exploration licences in the Kingdom of Cambodia cover 1448 km², which the company has been actively exploring over the past 5 years. The company has now covered all tenements with stream sediment geochemical sampling; has flown low level aeromagnetic surveys over most of the ground; drilled 18,737 metres of NQ core in 148 holes; and has collected in excess of 20,000 augered 'B' and 'C' zone soil samples and 55,000 termite mound samples in 17 centres of interest, over a combined area of 85km², in addition to numerous trenches and detailed geological field mapping. Exploration on all tenements is ongoing.

Angkor Gold Corp., a public company listed on the TSX-Venture Exchange, is Cambodia's premier gold explorer with a significantly large land package and a first-mover advantage with excellent relationships at all levels of Government (local to national).

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FOR FURTHER INFORMATION PLEASE CONTACT:

Angkor Gold Corp.
Mike Weeks, President
Telephone: (780) 568-3801
Email: mw@angkorgold.ca