The word´s second-largest known copper porphyry belt extends through northwestern Cambodia, where the topography is generally flat and accessible but includes geologically exciting terrain that suggests possible near-surface mineral wealth that has been under explored.
ABOUT CANBODIA COPPER CORP.
CANbodia Copper Corp. is committed to delivering global expertise in copper exploration, mine development, finance and capital markets to a country undergoing a rapid transformation from artisanal to world-class mining. Our leadership team and strategic partner has more than a decade of exploration experience in Cambodia. This combination of global and Cambodia expertise positions us to play a leading role in optimizing Cambodia’s mineral wealth.
LEADERSHIP
PROJECTS - Andong Bor Copper Gold Exploration Project Cambodia
We have interpreted five intrusive anomalies, which range in size from 0.75 to 2 km, from four (4) geochemical surveys, aeromagnetics, radiometrics and landsat imaging. The anomalies are comparable in size to other large copper porphyries around the world.
We have drilled two of these anomalies to confirm Cu-Mo-Au mineralization with portions of some of these core holes above 0.30% copper grade. Porphyries commonly develop in clusters originating from the same underlying batholith magma chamber. The three (3) other undrilled anomalies also have potential to be copper porphyries.
Andong Bor adjoins a previously producing gold mine (the “Bon Sup Trup Mine”) which indicates the existence of an extensive intrusive system, with gold bearing quartz veins.
Cambodia’s stable, pro-mining government adds appeal to the license. It allows 100% foreign ownership, applies only a 3% mining royalty to gold, has a 30% corporate tax and applies no import duty on mining equipment. Most importantly, no government back-in or carry for mining licenses is required.
– Multiyear exploration program previously completed with approximately CDN $4 million spent on the ground.
– Surface geology completed, land-sat and old workings studied, as well as rock samples collected and assayed.
– 2,200 km line of proprietary aero-magnetics completed with thorium, uranium, and potassium radiometrics.
– Over 3,000 soil geochemical profiles collected with up to 40 minerals analyzed.
– Eight (8) core holes drilled ranging from 107 to 543m in depth.
– 43 mineral assay suite completed on cores.
– Two (2) Cu/Mo/Au porphyries have been confirmed by the core hole drilling: one with 3 core holes and the other with one core hole.
CAMBODIA'S TRANSFORMATION
Cambodia`s increasingly vibrant capital.
Cambodia has been one of the fastest growing economies in the world for two decades, averaging over 7 percent GDP growth between 1999 and 2019, according to the country’s Ministry of Finance and Economy.
This startling growth is attributable to several factors, including stability and peace following two decades of civil conflict, a government that prioritizes partnerships with businesses (both domestic and foreign), Cambodia’s strategic location in the heart of Southeast Asia, and its young and energetic workforce (about 60% of Cambodians are under the age of 30).
The country’s middle class is expanding, infrastructure is being upgraded, manufacturing is diversifying, and policy initiatives to attract foreign investment are becoming increasingly successful.
Mining is one industry where Cambodia’s development is occurring most rapidly. In one generation the country of 16 million is undergoing a transformation from artisanal to world-class mining.
Rising interest in Cambodia’s mineral wealth led to the formation of the Cambodian Association for Mining and Exploration Companies and subsequent adoption of new legislation and regulations for the country’s nascent mining industry modelled on mining legislation in Western Australia, which led to the development of its first world-class gold mine, which is operated by Australia’s Emerald Resources.
Welcoming FDI
Besides its resource-rich geology, Cambodia has a stable, investment-friendly government, accessible and mineable topography and the region’s most attractive incentives for foreign investors. These include 100% foreign ownership of companies, duty-free import of capital goods, no restrictions on capital repatriation, corporate tax holidays of up to five years, and a 20% to 30% corporate tax rate after the incentive period ends.
Cambodia’s more than 20 Special Economic Zones are growing rapidly as supply chains shift to Southeast Asia, manufacturing is diversifying, and an influx of investment by European, American and Canadian companies is transforming the economy and business environment.
Canadian firms like Manulife and National Bank are among the leaders of their respective industries in Cambodia, while Angkor Resources is spearheading mineral as well as oil and gas exploration in the country.
Trade between Cambodia and Canada has been surging, making Canada the fourth largest market for Cambodian exports. The Cambodian Chamber of Commerce selected Toronto as its first international liaison office, which it opened in 2022, due to rising investment from Canada. A second office is planned for Montreal.
The Canadian Chamber of Commerce in Cambodia has been at the forefront of representing the interests of Canadian companies in Cambodia since 2015, including Alberta-accredited international schools and venture capital firms like Haystack Fund, which launched one of the Kingdom’s most innovative incubators for digital startups.
Investment into Cambodia is expected to rise following the signing of a free trade agreement (FTA) between Canada and the Association of Southeast Asian Nations, while government officials in Cambodia have said they are eager to work towards a bilateral FTA with Canada – one of Cambodia’s largest export markets and home to one of the largest overseas Cambodian communities in the world.
STRATEGIC PARTNER
CANbodia and Alberta-based Angkor Resources (“Angkor”) forged a strategic alliance to obtain the Andong Bor license in 2021 and accomplished this goal within one year.
Angkor led the application process utilizing its technical team and strong government relationships, while CANbodia supplied technical and financial support. Our application was submitted in September 2021, received favourably, and issued in August 2022. CANbodia retains an 80% interest in the license, while Angkor holds 20%.
CANbodia carefully selected Angkor as its first strategic partnership for several compelling reasons. These include its more than 10 years of successful experience in Cambodia, as well as the integration of locally responsive CSR and ESG initiatives into the core of its business model. Angkor also has a highly professional management team, technical expertise, mutually respectful connections with local communities, and excellent relationships with Cambodian mining authorities.
Angkor, which is listed on the TSX Venture Exchange, is the only North American publicly traded mining company in Cambodia, where it has several mineral licenses. In 2020, Angkor also received a license to explore, develop and produce oil and gas in Cambodia’s 7,300 square kilometer onshore Block VIII, and was selected by the Ministry of Mines and Energy to lead a technical assessment and inspection of the offshore production facilities and drilling platform in the Khmer Basin of the Gulf of Thailand.
CANbodia Copper CEO Terry Lyons described the partnership as mutually beneficial, saying: “Angkor brings a strong technical team and a depth of expertise in Cambodia that will be complemented by [our] expertise in capital markets and the international copper business. We are very pleased to be partnering with Angkor on this exciting project.”
Angkor CEO Delayne Weeks believes the partnership will benefit Cambodia’s mineral sector, explaining: “Having an alliance with global expertise in the copper markets brings depth and strength not only to the Andong Bor license and companies involved, but to Cambodia’s entire mineral sector. The country has developed solid mining laws and production processes and is attractive to foreign investment because it is secure, has a healthy GDP, and a keen young workforce. Western expertise in the extractive sector can help expedite modern innovative practices that have evolved over decades elsewhere but can be implemented immediately in Cambodia.”
Mr. Lyons added: “Cambodia is in the process of developing a strong mineral sector and has enhanced its sector governance to welcome foreign investment. We see this project as an excellent opportunity to advance a drill ready series of targets based on previous drill results and other field work in a strongly mineralized area.”
Under the strategic partnership, CANbodia will provide full project funding, Angkor will be the operator on the license, while joint consultation and best practices will be undertaken for all geological and work programs.
