Elray Resources, Inc announced its investment in the historical Rom Dey Vein is paying off, with new high-value drilling targets identified. Elray owns 100 percent of the mineral licensing for the 5,400-hectare Angkor Wat project in Cambodia, including the historic Rom Dey Vein. Historical workings are seen as good indicators of the presence of gold, the company says in a news release.
Recent grab samples collected from the Rom Dey deposit and analyzed by ALS Chemex laboratories returned values up to 71.9 grams of gold per ton. The Angkor Wat lands contain several large areas of colluvial gold workings and, the company says, it’s clear from their distribution that the source has not yet been identified.
“The Angkor Wat gold deposits represent immediate drill targets,” said Barry J. Lucas, Elray Resources executive chairman. “We believe the Angkor Wat lands could host alluvial and hard rock open pittable, and underground gold resources.”
The current high price of gold means exploration yields more profitable results, providing an improved return on investments.
In the 1960s the United Nations Economic and Social Commission for Asia and the Pacific reported in its Minerals of Cambodia publication that diamond core drilling by the France’s Bureau de Recherches Geologicaques et Miniere reported grades ranging from 7.1g/t to 20.4g/t gold.
Elray Resources, Inc. is a junior exploration and development corporation that has four highly prospective, heavily mineralized mining tenements in Cambodia and Mexico.
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