Amarillo Reports an Intercept of 190m @ 0.94 g/t Au from its Continuing Drill Program at the Butia Prospect, Lavras do Sul, Sout
May 10 2010 - 1:04PM
Marketwired Canada
Amarillo Gold Corp. (TSX VENTURE: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
---------------------------------------------------------------------------
From To Grade
Hole No. (metres) (metres) Distance (metres) (g/t Au)
---------------------------------------------------------------------------
LDH-153 36.5 49 12.5 0.54
---------------------------------------------------------------------------
120 125.5 5.5 0.32
---------------------------------------------------------------------------
147 152 5.0 0.45
---------------------------------------------------------------------------
164.5 169.5 5.0 0.73
---------------------------------------------------------------------------
187.0 192.5 5.5 0.42
---------------------------------------------------------------------------
197.2 202.5 5.3 0.89
---------------------------------------------------------------------------
274.3 306.0 31.7 1.02
---------------------------------------------------------------------------
including 274.3 278.0 3.7 3.21
---------------------------------------------------------------------------
327 332.0 5.0 0.31
---------------------------------------------------------------------------
LDH-154 13.5 19.0 5.5 0.39
---------------------------------------------------------------------------
32 222 190 0.94
---------------------------------------------------------------------------
including 90 94 4 3.96
---------------------------------------------------------------------------
173 176 3 4.31
---------------------------------------------------------------------------
LDH-155 87.0 110.0 23 1.33
---------------------------------------------------------------------------
132.5 170.0 37.5 0.43
---------------------------------------------------------------------------
Notes: All drill hole samples shown here consist of split HTW and NTW diamond
drill core. The samples are sent to Acme Laboratories in Goiania, Brazil, and
Vancouver, Canada, Samples are first subjected to a multi-element ICP assay that
includes Au and then sent to fire assay for Au using 30g aliquots. 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,, true widths are given
when known in the text of the News release, otherwise they are not yet known.
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 @ 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 @ 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.
TOTAL
DRILL HOLE AZIMUTH DIP DEPTH (m) SAMPLES EASTING NORTHING
200 -55
LDH-144(i) degrees degrees 364.28 307 218144 6586763
200 -60
LDH-145(i) degrees degrees 256.98 166 218089 6586719
200 -80
LDH-146(i) degrees degrees 290.21 202 218162 6586638
200 -60
LDH-147(i) degrees degrees 433.33 307 218203 6586698
200 -60
LDH-148(i) degrees degrees 383.15 265 218355 6586702
-60
LDH-149(i) 45 degrees degrees 292.35 284 218091 6586444
200 -60
LDH-150(i) degrees degrees 21.25 29 218225 6586619
200 -60
LDH-150A(i) degrees degrees 408.5 291 218241 6586653
290 -60
LDH-151(i) degrees degrees 356.95 204 218326 6586435
290 -60
LDH-152(i) degrees degrees 276.8 191 218156 6586575
290 -60
LDH-153(ii) degrees degrees 369.4 228 218277 6586553
290 -60
LDH-154(ii) degrees degrees 308.65 261 218232 6586516
200 -60
LDH-155(ii) degrees degrees 348.95 193 218280 6586661
200 -60
LDH-156 degrees degrees 377.55 208 218085 6586515
-60
LDH-157 20 degrees degrees 453.4 267 218242 2586294
200 -60
LDH-158 degrees degrees 247.5 114 218324 6586474
TOTAL 5189.25
Note: Samples include standards, blanks and duplicates, inserted at
approximately every 30th drill core sample. The entire length of core is
sampled. Those areas that appear to be mineralized are sampled at 1m
intervals, all others at 2.5m. The UTM co-ordinates are given using the
SAD-69 system, zone 22.
(i) Reported in an earlier news (ii) Reported in this news
release release.
LDH150 was abandoned @ 21.25m as the hole intersected old mine workings.
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 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.
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 the Figure 1: Butia prospect drilling plan map, please visit the
following link: http://media3.marketwire.com/docs/ButiaFig1.jpg
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