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Amarillo Gold Drills 133m @ 2.65 g/t Au and 123m @ 1.49 g/t Au

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Amarillo Gold Drills 133m @ 2.65 g/t Au and 123m @ 1.49 g/t Au

 

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Amarillo Gold Corp. (TSX VENTURE:AGC) announce the following drill results from the Butia prospect, which is part of the Lavras do Sul project in Rio Grande do Sul, Brazil. Amarillo previously reported the Butia prospect contained an indicated resource of 215,000 ounces of gold from 6.4 MT @ 1.05 g/t Au, and 308,000 ounces of gold inferred resource from 12.9 MT @ 0.74 g/t Au, using a 0.3 g/t cut-off grade, NI 43-101 compliant, as independently determined by Atticus Consulting, August 2010. This current round of drilling was designed to define and expand the known resource through infill drilling, and by targeting new mineralised zones in the larger Butia alteration zone. Assays results from the first eleven holes in this program have been received and the gold intercepts are reported here as shown in Table 1 below.

 

Drilling in the higher-grade gold zone of the Butia prospect included drill holes LDH-209 which intercepted 133m @ 2.65 g/t Au and LDH-212 which intercepted 123m @ 1.49 g/t Au. Both drill holes filled gaps in the previous drill program pattern that exceeded 50m.

Drill holes LDH-200 and LDH-208 (located 100m apart East to West), were drilled 50m to the south of the reported resource, and angled north. These holes were drilled, to locate the southern edge of the intense alkaline epithermal alteration that hosts the majority of the gold mineralization at Butia. Both holes intercepted this alteration with gold mineralisation and extended the zone 50m south, at greater than 50m depth, where it remains open.
 

Drill holes LDH-204 and LDH-206 were drilled 50m apart 100m north of the main resource in the area of the old gold workings known as, "Guampa de Ferro". Previous drilling had hinted at a separate mineral zone beneath these workings (LDH 155, which had 23m @ 1.33 g/t Au). Drill hole LDH 204, intercepted 15m @ 2.95 g/t Au and 8m @ 4.23 g/t Au, (drilled 50m above the LDH 155 intercept), and drill hole LDH-206 intercepted 5m @ 3.48 g/t Au, (drilled 50m west of the LDH 155 intercept), confirming there is a persistent, steeply dipping, E-W striking, gold bearing zone. The true width will therefore be approximately 50% of the down-hole intercept.

Drill holes, LDH 205 and LDH 210 failed to intersect gold mineralisation. These were step out holes drilled to the north and south west of the known mineralisation.

The remaining three drill holes reported in Table 1 were drilled in order to infill other gaps in the known resource which exceeded 50m. Each intercepted gold mineralisation thereby enhancing the continuity of the resource.

 

A total of 3,434m of drilling are reported in table 1. Assays are pending for another 12 holes and 3,110m of drilling. In total, Amarillo has now drilled 20,245m from 70 holes at the Butia prospect.
 

 

Table 1 Drill hole results                                                 
                                                                           
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             Total                                                         
             Depth                       From        To     Width     Grade
Hole No.   (metres) Azimuth/Dip       (metres)  (metres)  (metres)  (g/t Au)
---------------------------------------------------------------------------
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LDH-200     332.00  20 degrees/-60       40.0      44.0       4.0      0.38
                    degrees                                               

---------------------------------------------------------------------------
                                         80.0     115.0      35.0      0.83
---------------------------------------------------------------------------
                    Including            99.0     100.0       1.0     13.50
---------------------------------------------------------------------------
                                        132.5     216.0      83.5      0.43
---------------------------------------------------------------------------
                                        215.0     236.0      21.0      0.30
---------------------------------------------------------------------------
                                        268.0     288.0      20.0      0.30
---------------------------------------------------------------------------
                                        299.0     304.0       5.0      0.40
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-202     415.65  20 degrees/-60      42.0      55.0      13.0      0.30

                    degrees                                               

---------------------------------------------------------------------------
                                         69.0     128.0      59.0      0.66
---------------------------------------------------------------------------
                                        176.0     181.0       5.0      0.34
---------------------------------------------------------------------------
                                        219.0     224.0       5.0      0.54
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-204     337.40  200 degrees/-60      28.0      41.0      15.0      2.95
                    degrees                                            
---------------------------------------------------------------------------
                    Including            31.4      32.4       1.0     38.00
---------------------------------------------------------------------------
                                         56.0      64.0       8.0      4.23
---------------------------------------------------------------------------
                    Including            57.0      58.0       1.0     30.30
---------------------------------------------------------------------------
                                        214.0      2.46      45.0      0.31
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-205     242.60  200 degrees/-75            No significant intersections
                    degrees                                            
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
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LDH-206     304.50  200 degrees/-65     117.0     122.0       5.0      3.48
                    degrees                                            
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                    Including           117.0     118.0       1.0     14.50
---------------------------------------------------------------------------
                                        188.0     191.0       3.0      1.78
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-207     316.10  20 degrees/-80       13.0      36.9      23.9      0.51
                    degrees                                               

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                                         96.0     105.0       9.0      4.21
---------------------------------------------------------------------------
                    Including           104.0     105.0       1.0     34.70
---------------------------------------------------------------------------
                                        113.0     117.0       4.0      2.12
---------------------------------------------------------------------------
                                        175.0     182.5       7.5      0.55
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-208     361.00  20 degrees/-60      181.5     185.5       4.0      0.47
                    degrees                                               

---------------------------------------------------------------------------
                                        190.5     194.5       4.0      0.46
---------------------------------------------------------------------------
                                        199.5     224.5      25.0      0.30
---------------------------------------------------------------------------
                                        230.5     247.5      17.0      0.69
---------------------------------------------------------------------------
                                        277.5     288.5      11.0      0.30
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-209      245.5  20 degrees/-70        1.6      33.0      31.4      0.43
                    degrees                                               

---------------------------------------------------------------------------
                                         52.0     185.0     133.0      2.65
---------------------------------------------------------------------------
                    Including           132.0     133.0       1.0    109.50
---------------------------------------------------------------------------
                    Including           142.0     148.0       6.0      8.84
---------------------------------------------------------------------------
                    Including           180.0     181.0       1.0     18.50
---------------------------------------------------------------------------
                                        203.0     208.0       5.0      0.42
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-210     278.00  200 degrees/-60            No significant intersections
                    degrees                                            
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-211     290.00  200 degrees/-60     188.0     205.5      17.5      1.86
                    degrees                                            
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LDH-212     311.00  20 degrees/-60        9.0      13.0       4.0      0.44
                    degrees                                               

---------------------------------------------------------------------------
                                         18.0     141.0     123.0      1.49
---------------------------------------------------------------------------
                    Including           140.0     141.0       1.0     44.10
---------------------------------------------------------------------------
                                        213.0     240.0      27.0      0.34
---------------------------------------------------------------------------
---------------------------------------------------------------------------
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. Drill holes are exploratory and 
true widths are not yet known,, however in most cases the holes are designed
to cut perpendicular to the mineralization trend.

 

 

The location of the previous drill holes, and the new drill holes reported here, can be viewed in three dimensions and by section on the Company's website at www.amarillogold.com or at http://www.corebox.ca.
 

Upon receipt of the final assays from this drill program an updated NI 43-101 compliant resource will be calculated for the Butia prospect. Keith Whitehouse of Australian Exploration Field Services, an independent consultant, has been contracted to perform this work and he will be conducting a site visit at the end of June. The initial resource estimates of the Cerrito prospect at Lavras do Sul will also be completed at the same time.

The author of this news release is Buddy Doyle, a member of the AUSIMM, and a geologist of 30 years experience. The NI 43-101 compliant qualified person for this news release is Kevin Kivi, P.Geol.

 

Posted June 20, 2012

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