Friday, 22nd April 2005 (3176 views)

Cambodian Ventures is looking to purchase gold exploration interests from the Oksan Cambodia Corporation.

The junior mining firm has signed a letter of intent for the acquisition and is looking to buy a controlling interest in an 84 square kilometre license in the Keo Seima district in the Mondulkari Province in Cambodia.

Following initial geological surveys on the area, Oksan has claimed there are promising gold ore concentrations at the site.

If Cambodian is successful with its acquisition it will conduct comprehensive geological surveys of its own and determine the economic value of the mineral deposits for mine development.

Wujin Park, CEO of Oksan Cambodia states: "We are excited about the opportunity to work with Cambodian Ventures…We are looking forward to joining forces in order to develop these high potential areas of gold mineralisation."

Oksan has surveyed a number of regions in Cambodia to find the best mineral deposits, especially gold. Whilst Cambodian aims to obtain licenses for exploration and mining of precious minerals in Cambodia such as gold.

"Our potential partnership will be significant for Cambodian Ventures and move the Kingdom of Cambodia closer to realising the economic exploitation of its significant precious mineral resources that geologists have speculated exist in the country," Gary Fineberg, CEO of Cambodian Ventures, added.

 

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