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 - 1:03PM
Marketwired
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
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.
Contacts: Amarillo Gold Corp. Buddy Doyle President + 1-604-689
1799 (Canada) +55-31-3261 5974 (Brazil) info@amarillogold.com
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