Australia-based mining company Geopacific Resources has confirmed the discovery of gold and silver deposits at its drilling site in northern Cambodia, according to a company release on the Australian stock exchange.
Geopacific announced on Wednesday that a new zone of gold and silver deposits was discovered at its Prospect 118 site at the company's Kou Sa project in Preah Vihear province – the second such find this year after another discovery was announced in January.
The gold and silver discovered thus far have been found in epithermal deposits, which are typically 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 mineralises them--converting organic matter into inorganic substances like gold and silver. Because they are found near the earth's surface, epithermal deposits are considered easily mineable.
As Geopacific moves closer to the source of this circulation, it will likely find more gold, according to Geopacific managing director Ron Heeks.
With much of the land incorporated in Geopacific’s Kou Sa licence yet unexplored by drilling, the most recent gold and silver discoveries indicate that there remain significant deposits to be uncovered at the site, Heeks said in the release.
