Canadian miner Angkor Gold has found “visible gold in the soil samples” in the Otray prospect in Ratanakkiri province, which hints at possibly larger reserves, said CEO and chairman Mike Weeks in a press release published on Wednesday.
The company had just completed its first phase of exploration in the area. The results “are very encouraging as they are strongly suggestive of a high sulphidation zone in a gold-copper epithermal environment,” the press release said.
“It vindicates our faith in the potential of Cambodia by giving us another large prospect that has significant gold and copper potential,” Weeks added.
Angkor Gold is the first North American publicly traded mineral exploration company in Cambodia, and has invested about $11 million into its activities in the Kingdom.