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Amarillo Gold Corp.
Summary
| Project: | Mara Rosa | |
|---|---|---|
| Deposit: | Posse | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 1/7/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 7-1-2019: Amarillo Gold Corp. announces an Exploration/Drilling Update report for its Posse deposit at the Mara Rosa project. Drilling results incl. 73.0m @ 1.28g/t Au from 331m (uncut). TORONTO, Jan. 07, 2019 -- Amarillo Gold Corporation (“Amarillo” or t | |
| Resources: | (Reserve, P+P): 23.8Mt @ 1.42g/t Au | |
| CP/QP: | [Overall Report]: Mike Mutchler (Internal) | |
| ABSTRACT: | TORONTO, Jan. 07, 2019 -- Amarillo Gold Corporation (“Amarillo” or the “Company”) (TSX.V: AGC) (OTCQB: AGCBF) is pleased to provide encouraging drill results from the ongoing drilling program at its Posse (Mara Rosa) open-pit gold project in Goias State, Brazil. In May 2018, the Company commenced a 10,000 m drill program at the Posse deposit which included 7,000 m of core drilling and 3,000 m of RC drilling designed to convert some of the existing 330K ounces of Inferred resources to Indicated resources and to explore for additional resources along the 12 km long Posse trend. In September 2018 the core drilling program was expanded to 12,000 m of in-fill drilling and 3,000 m of step-out exploration drilling to test the continuity of the Posse deposit along strike to the southwest of the main deposit, while the RC drilling program was reduced to the then completed 1,295 m. A total of 11,915 m of diamond drilling from 41 holes have been completed to date (see also results from 19 diamond drill holes in our Press Releases dated September 10, 2018 and October 31, 2018). Drilling assay results of 2.40 g/t Au over 15 m core from in-fill drill hole18P067 and 3.17 g/t over 15 m core from in-fill drill hole 18P081 confirm better than average ore grade and good deposit width in the southern section of the ore body. Encouraging results from exploration drill hole 18P070 were obtained having intersected 1.78 g/t Au over 22 m and suggesting continuity of the Posse deposit over 200 m southwest along strike. The remaining 700 m of in-fill core drilling will be completed in early January 2019 and a new Resource Update is planned for release in February 2019. The final 2,400 m of step-out exploration core drilling is also expected to be completed in February. | |
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