Cambodia is one of the last countries in the world that has not had intensive modern exploration of its mineral resources. This is about to change as Cambodia’s topography, geology, government, infrastructure and workforce are ready for the development of a responsible mining sector.
The government welcomes economic development, yet the country has seen very little modern mineral exploration activity.Critical infrastructure such as roads, water and electricity is steadily being advanced into the outlying areas.Low labour operating costs help ensure cost effective mineral exploration and mine production.
The Banlung Concession is 150 sq. km of land where previous exploration indicates the potential to host a large copper/gold porphyry deposit. In addition, the property has several locations where gold is recovered by panning during the rainy season.
Exploration in October 2015 discovered a 2 sq. km surface gold anomaly called Okalla West that has recently been expanded to a 4 sq. km mineralized zone from work conducted in January to April 2016.
Blue River has entered into a definitive agreement to earn an initial 50% interest in the Banlung Project, with potential to earn up to a 70% interest.
The recently discovered surface gold-mineralized zone totals 4 sq. km and is approximately 6 meters in depth, to bedrock.This zone was discovered by sampling 12,400 termite mounds over a 8 sq km area. The gold mineralization is located within an alluvial saprolite plain. Blue River will auger drill the surface gold mineralized areas previously to test for grade and consistency of the mineralization.The samples will be analyzed by the current geological team and assayed by a recognized lab.
All indications from the past 7 years of sampling and drilling show that the surface mineralized zone’s source is a nearby porphyry copper/ gold system.The longer term exploration plan is to locate this porphyry system on the 150 sq km Banlung property. Mining the deposit through the alluvial operations and continued diamond drilling of the area, will provide critical information about the potential for the discovery of a large porphyry copper/gold deposit.