Amarillo Gold Corp.: Update on 2009-2010 Drill Program at Butia Gold Prospect, Lavras Do Sul Project
26 January 2010 - 12:30AM
Marketwired Canada
Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo") is pleased to announce the
following update for our Lavras Do Sul project in the State of Rio Grande do
Sul.
As detailed in our October 7th news release, Amarillo has mobilized a drill rig
on the Butia gold prospect. This drill is now on the sixth hole after
recommencing work after the Christmas break. This current drilling program adds
to the 6.8km of drilling already completed on the Butia prospect. The purpose is
to determine the full extent of the mineralized system with step out drilling
and conduct enough infill drilling to determine a first pass resource estimate
(approximate 50m spacing between collars). The timing and the amount of drilling
to accomplish this is open ended as it depends on the results of the step-out
drilling. The more positive results we receive the more work required.
Table 1: A list of the drill holes completed in the current drill program.
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Drill Hole Section Azimuth Dip Total Depth Samples sent
(metres)
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LDH144 Section 5 200 55 364 307
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LDH145 Section 6 200 60 257 166
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LDH146 Section 4 200 80 290 202
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LDH147 Section 4 200 60 433 307
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LDH 148 Section 1 200 60 383 265
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LDH 149 Section 4 45 60 In progress Nil
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TOTALS 1727m 1247 samples
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Note:-. Samples include standards, blanks and duplicates, inserted at
approximately every 30th drill core sample. The entire core is sampled,
those that look possibly mineralized are sampled at 1m intervals, other
areas at 2m
Samples have been sent to Acme Laboratories. The results from the first hole
have been received and are reported below in Table 2. Table 3 lists those
results that returned greater than 5 g/t.
Table 2: Assay results
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Drill hole From To Interval Composite Gold assay
----------------------------------------------------------------------------
LDH 144 174m 210m 46m 0.44g/t
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221m 296m 75m 0.69g/t
Including 237m 248m 11m 2.34g/t
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305 309.4 4.4m 2.58g/t
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Notes: All drill hole samples shown here consist of split HTW and NTW
diamond drill core. The samples were sent to Acme Laboratories in Goiania,
Brazil, and Vancouver, Canada. Samples are first subjected to an multi-
element ICP assay that includes Au. Those samples that are greater than
0.2ppm Au are then sent to fire assay using 30g aliquots with an ICP finish.
If the grade is higher than 5 g/t a gravimetric method is used. All samples
are subject to a chain of custody and are submitted with standards and
blanks to check the assay results. The laboratories also use internal
standards and repeat analysis. For the results reported in this release all
the standards, blanks and repeats delivered acceptable results. Intercepts
were calculated using a minimum of a 0.3 g/t cut off at the beginning and
end of the intercept and allowing for no more than 10 consecutive metres of
less than 0.3 g/t Au. The drilling is exploratory and designed to cut a
fence perpendicular to the most elongated direction in the alteration
hosting the mineralization. The true width of the mineralization is not yet
known.
Table 3: High grade assay results.
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Drill hole From To Interval Gold assay
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LDH 144 247m 248m 1m 6.75 g/t
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307m 308m 1m 5.78 g/t
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Drill hole LDH 144 was drilled as a scissor on section 5 below the previous
drilling to look for extension of the mineralization at depth and to help
determine the true width. The 221m to 296m interval corresponds to the
mineralized zone that reported 120m @ 3.23 g/t zone from 87m down hole in drill
hole LDH 128. It suggests this zone has a width of approximately 50m on this
section and has increased its depth extent by 50m, to 225m below the surface.
See figure "Section BU 05" at the end of this press release.
The company will release further assays as they come to hand, usually in batches
of 3-5 holes or at our discretion.
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 Goias 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 @ 1.48 g/t Au, 538,000 ounces inferred
from 13.0MTonnes @ 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 15000m
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
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.
To view "Section BU 05" please visit the following link:
http://media3.marketwire.com/docs/BU05.pdf
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