An Australia-based mining company has announced the second discovery of gold and silver deposits at its drilling site in Preah Vihear province, the Phnom Penh Post Online reported on Thursday (April 19).
In a statement released on the Australian stock market on Wednesday, Geopacific Resources, announced the discovery of a new zone of gold and silver at its Prospect 118 site in Preah Vihear province.
The gold and silver were found in epithermal deposits which are typical small in size but high in concentration of minerals. These types of deposits are likely caused by the circulation of sub-surface water which breaks down organic compounds in the soil and mineralizes them.
Geopacific Resources managing director Ron Heeks said more gold was likely to be discovered.
With much of the land still unexplored by drilling, the most recent discoveries indicate that there remains significant deposits to be uncovered at the site, said Heeks in the release.
“The results from this drilling indicate that we have probably encountered an outflow zone of epithermal system and that the main zone may be located nearby,” he added.