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Amarillo Gold Corp.
Summary
| Project: | Mara Rosa | |
|---|---|---|
| Deposit: | Posse | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 6/2/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 2-6-2020: Amarillo Gold Corp. announces a Feasibility Study report for its Posse deposit at the Mara Rosa project. Feasibility study results incl. post-tax NPV (5%) of US$360M & IRR of 50% using current market rates. The Posse Gold Project (Posse or the P | |
| Resources: | (Reserves, P+P): 23.8Mt @ 1.18g/t Au (902koz Au) | |
| CP/QP: | [Overall Report]: Paulo Laymen, Keith Whitehouse, Stuart Smith, Robert Raponi (Australian Exploration Field Services Pty Ltd.,SRK Consulting,Aurifex Pty Ltd.,Ausenco do Brasil Engenharia Ltda.) | |
| ABSTRACT: | The Posse Gold Project (Posse or the Project) is located on the Mara Rosa Property in the State of Goiás, central Brazil, approximately six kilometres north of the town of Mara Rosa. The Project encompasses a land area of 2,552 hectares across three mining concessions plus numerous exploration leases in areas surrounding the Posse mine area. The Project infrastructure will consist mainly of the processing plant, buildings, power line, water dam, filtered tailings pile, waste dumps, and low grade stockpile. The Project access road and most of the service roads already exist, minimizing earthworks and clearing vegetation. A 67-kilometre 138 kilovolt transmission line linking Porangatu and the mine site will need to be built. A recently completed regional exploration program on the Mara Rosa Property showed potential to find near-surface gold deposits along the Posse North Trend (see Amarillo’s news release dated May 5, 2020). Mineralization was discovered up to four kilometres northeast of the Posse Gold Deposit, which remains open at depth to the southwest. These mineralized targets to the northeast provide additional opportunities to expand the resources at Mara Rosa. | |
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