The Asia Miner

JUN 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

Issue link: https://asiaminer.epubxp.com/i/972567

Contents of this Issue

Navigation

Page 33 of 51

Cambodia the asia miner • volume 15 • issue 2 32 EMERGING SE ASIA: Cambodia With exploration partner Japan Oil, Gas and Metals National Corporation (JOGMEC), Angkor Gold continues as the operator to develop the primary target on the Oyadao South License, which is a copper porphyry system known as the Halo Project. Under the Company's earn-in exploration agreement with JOGMEC, JOGMEC has committed to a total of USD $3 million in exploration expenditures over a three-year period which gives JOGMEC a right to acquire 51% of the Oyadao South License. "Angkor is poised to build on its strongest position in eight years with great partners, advancing projects, and multiple opportunities," said JP Dau, Angkor 's Vice President of Operations "Technical international geologists have described our prospects as a geologist's paradise, with gold identified across multiple projects, large anomalies of copper, and numerous drill targets on each license. I believe 2018 is going to be a stellar year for our company and for Cambodia's growing mining sector." Angkor 's management continues to advance its primary targets on nearly 1000 km 2 of mineral rights held by the Company in Cambodia. OYADAO SOUTH LICENCE: HALO PROJECT In Q1 2018, JOGMEC committed to spending an additional USD $1 million beyond their original 2017 budget to follow up on encouraging copper results from the Phase 1 drilling program at the Halo Project. Over the coming months, Angkor's focus on the property will primarily be to follow up on the results in drill hole HAL17-001D, which reported copper and silver mineralisation in the top 99 metres, with anomalous levels of molybdenum corresponding with disseminated sulphides observed in the same interval. Approximately 1,200 metres of new drilling is planned at Halo in the next two months to drill test newly identified IP targets. Angkor has a new regional soil and IP program underway, which will provide a better geological understanding of the area which surrounds Halo's previously identified 7.25 km 2 area. This season Angkor will map the remaining major area of interest on the property with support from the Institute of Technology of Cambodia, where all major rock types, alteration, structure, and mineralization will be logged into Angkor 's data base. The focus of the project will be to identify the most significant mineral occurrences. Once completed, the program will lay the framework for future drilling campaigns. Angkor Gold continues its partnership with JOGMEC in Cambodia Vietnamese media has reported that a tailings pond at a gold mine in Tam Lanh Town, Quang Nam Province had breached its banks, releasing pollutants into a nearby river, contaminaƟng the water and killing fish. The Bong Mieu gold mine spans thousands of square meters and lies next to the Que Phuong River. Formerly owned by the Canadian mining company Besra, which divested its Vietnamese interests in April 2017 for assumpƟon of exisƟng trade creditor, tax and remediaƟon liabiliƟes totalling over US$25million, was taken over by 6666 Mineral Industry Joint Stock Company. The spill has prompted protests from local people who are demanding immediate acƟon. As quoted in VN Express, Nguyen The Vinh, chairman of Tam Lanh's People's CommiƩee, said that local authoriƟes are working with the company, requesƟng that it shuts operaƟons unƟl the problem is resolved. According to 6666 Mineral Industry's reports, the breach was located and sandbagged. According to Yu-Pin Lin, an academic editor for the U.S. NaƟonal Library of Medicine, mining can lead to the generaƟon of large quanƟƟes of heavy metal laden waste. If not processed correctly, it can be released in an uncontrolled manner, potenƟally causing widespread contaminaƟon of the ecosystem. Over its operaƟonal history, the Bong Mieu gold mine has been plagued by a myriad of issues including licensing problems, tax debts and non-compliance with requests to close operaƟons. The Bong Mieu mine. Image ©Besra Toxic waste leaks into central Vietnam river

Articles in this issue

Archives of this issue

view archives of The Asia Miner - JUN 2018