Amarillo reports an intercept of 190m @ 0.94 g/t Au from its continuing drill program at the Butia Prospect, Lavras do Sul, southern Brazil.
(firmenpresse) -
Amarillo reports an intercept of 190m (at) 0.94 g/t Au from its continuing drill program at the Butia Prospect, Lavras do Sul, southern Brazil.
Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) is pleased to release the latest results from the Butia drilling at its Lavras do Sul project in southern Brazil.
The Company is currently drilling the Butia prospect, one of a number of areas at Lavras that has returned significant gold intersections from previous drilling. The purpose of the current phase of drilling, which commenced in October 2009, is to generate sufficient information to enable an initial 43-101 compliant estimate of the gold resource at Butia to be prepared. This news release reports the assay results for the most recent 3 holes of the 16 holes completed to date: LDH-153, LDH-154 and LDH-155. The results are listed in Table 1. The assay results for 10 of the holes have been reported in previous news releases, assays are awaited for 3 holes.
Table 1: Composite Assay Results: http://www.irw-press.com/dokumente/AGC_Table_110510.pdf
The location of the drill holes can be found in Table 2 listed by UTM co-ordinates, and by referring to an updated plan map to be posted at the Company’s website, www.amarillogold.com. The plan map is also presented at the end of this release as Figure 1.
The episyenite altered gold mineralized zone at Butia appears to have an "L" or "Hockey Stick" shape in plan view. The company currently interprets this to be caused by the intersection of an E-W structure that carries gold mineralization for at least 250m along its strike, and a N-S structure that carries gold for at least 200m along strike. The mineralization continues from surface to at least 150m depth, where it is still open. Drill hole LDH-153 was an E-W hole that tested the northern sector of the prospect and intersected the deeper portion of the N-S structure. The shallower results show intermittent zone gold mineralisation. The 31.7m (at) 1.02 g/t Au intercept in this hole is interpreted as the intersection of the N-S structure at depth where it has a true width of 24m. Drill hole LDH-154 was drilled 50m south of LDH-153 in the same orientation. It appears to have intersected the northern edge of the E-W structure giving a long intercept of gold values. It terminates under the N-S structure giving more evidence for an easterly dip to this structure. LDH-154 was drilled N-S in the northern part of the prospect along section 2. The gold mineralization in this hole and the mineralization intercepted in the upper part of drill hole LDH-150A, 50m to the west (77m to 148m, 71m (at) 0.54 g/t) appear to form a new E-W mineralized zone centred on the historic workings called Guampa de Ferro. Drill holes 50m to the east and west of this mineralized zone are barren along strike, thus limiting its extent to less than 100m. The zone has a maximum true width of 36m.
The drilling continues at the Butia prospect area. The drill is currently testing the eastern extension of the E-W structure. Four holes in total are planned. When work is completed the drill is expected to be moved to other areas within the Butia alteration zone. Depending on the outcome of this work, the drill will then be moved to the Cerrito prospect 5km to the east.
With the results of drill holes LDH-153, LDH-154 and LDH-155 to hand, compilation of the planned 43-101 compliant resource estimate will now commence. This initial Butia resource estimate will be the subject of a more detailed news release as soon as it is completed in the near future.
Table 2:
Drill Holes Completed in the Current Program: http://www.irw-press.com/dokumente/AGC_Table2_110510.pdf
This press release was reviewed by Buddy Doyle (B. App. Sc.), a member of AusIMM, with 28 years experience and a qualified person in compliance with National Instrument 43-101.
ABOUT AMARILLO:
Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás and the Lavras do Sul project in the state of Rio Grande do Sul. The Posse Deposit at Mara Rosa was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain 643,000 ounces indicated from 13.5MTonnes (at) 1.48 g/t Au, 538,000 ounces inferred from 13.0MTonnes (at) 1.26 g/t Au at a 0.5g/t cut-off grade and the project is in the economic evaluation stage. The Posse deposit is located in an area of excellent infrastructure located some 35 km NE of Yamana’s Chapada open pit Cu-Au operation, 105 km NE of Serra Grande’s underground Au mine, 105 km NNW of Anglo American’s nickel laterite project (in construction), 95 km NW of Votarintim’s Niquelandia nickel laterite mine and approximately 60 kms NE of Yamana’s Pilar Au project (in feasibility). Grid power to the site was established during the previous open pit mining operation and the Serra da Mesa hydro-electric dam lies 35 km to the east.
The Lavras do Sul project is in the advanced exploration stage with over 15,000m of drilling with encouraging gold mineralization being discovered and defined, also in an area of excellent infrastructure. The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust community support.
ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.
Per:
“Buddy Doyle”
Buddy Doyle, President
Contacts:
Amarillo Gold Corp.
+ 1-604-689 1799 (Canada)
+55-31-3261 5974 (Brazil)
info(at)amarillogold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
This news release contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.
Leseranfragen:
Amarillo Gold Corp.
Suite 1818 - 701 West Georgia Street
P.O. BOX 10144, Pacific Centre
Vancouver, British Columbia
Kanada V7Y 1C6
Kontakt:
Buddy Doyle
President & CEO
Tel.: +1 (604) 689-1799
Fax: +1 (604) 689-8199
buddy(at)amarillogold.com
http://www.amarillogold.com/
Datum: 11.05.2010 - 12:29 Uhr
Sprache: Deutsch
News-ID 20668
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
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