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Angkor Resources Signs Letter of Intent for Strategic Partnership in Alluvial Gold Project in Philippines
Grande Prairie, Alberta--(Newsfile Corp. - September 21, 2021) - Angkor Resources Corp. (TSXV...
About this update from Angkor Resources Corp.
[{"type":"text","content":"Angkor Resources Signs Letter of Intent for Strategic Partnership in Alluvial Gold Project in PhilippinesGrande Prairie, Alberta--(Newsfile Corp. - September 21, 2021) - Angkor Resources Corp. (TSXV: ANK) (OTC Pink: ANKOF) (\"Angkor\" or \"the Company\") announces its intent to form a 50/50 profit share agreement with KSA Quarrying & Aggregate Co. Inc. (\"KSA\") for an Environmental Desilt/Alluvial Gold (\"Desilt\") project in Philippines. As part of Angkor's strategic intent to expand the company's resource opportunities, both geologically and geographically, the Company has identified and entered into a collaborative venture in the Philippines. The project is turnkey-ready, fully designed, already constructed, and involves a new, fully-permitted alluvial gold and desilting project on the Malaguit River in the Paracale district of Philippines, currently permitted for 10 years with additional renewal terms available. CEO Delayne Weeks comments, \"This project is a big win for Angkor and KSA with its quick path to recurring cashflow and a compelling example for the resource sector with environment and social platforms. It is exactly what we want to see for Angkor and fits our philosophy of \"People, Planet, Profit\" in Cambodia and other countries in SE Asia. Working with KSA, we can expedite the project and address major environmental issues, create recurring revenue, provide solid returns to investors and stakeholders, and implement real solutions in several resource areas. This is an example of optimizing opportunities within the resource sector.\" Highlights:This is primarily an environmental clean-up, sand and desilting project with secondary opportunities for placer gold. Historical data indicates the river sits on a well-known placer gold-bearing plain across the Paracale district. Operation is a turnkey status, with dredge, wash plant, sand and rock stockpile area, siltation ponds, clean water return channel, on-site assay laboratory, finishing equipment for dore bars, vehicles, infrastructure and accommodation. Malaguit River is estimated to have 17 million m3 of construction-grade sand to be removed from the permitted river and adjoining flood plains.Process uses only water and no chemicals of any kind for separation, and markets are available for all products, targeting the project as a 'no waste' operation. Follow...