Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Canadian-based Angkor Gold Corp. (TSXV: ANK) announced today it has deployed a three diamond drill at its Katieng prospect. Drilling is set to commence on geochemical targets at the property. After Angkor completes the Katieng program, the rig will be moved to either its Kunmum prospect or Oyadao tenement.
Deployment of this rig means that the company now has 3 diamond drilling rigs working in Cambodia. A local Cambodian company has been drilling since November, 2011 and Angkor added a second rig from a Canadian company in February, 2012 focusing on the Okalla prospect. The map below shows the location of the 3 drilling projects.
Angkor’s CEO Mike Weeks said that since their recent financing filled so quickly and the interest is so strong, the company believes “it is only prudent to move these projects forward quickly and continue to explore systematically.” He added that the company has highly prospective targets for this third rig “and can now drill those aggressively.”
The Katieng prospect is a multi-element ‘C’ zone soil geochemical anomaly overlying an intrusive diorite stock on which there is a strong magnetic high. This geological environment is similar to that of the Okalla prospect, where several holes have already shown pervasive sulphides (including pyrite, chalcopyrite and molybdenite), both finely disseminated and in quartz-carbonate veinlets, associated with potassic and clay alteration.
