Amador Gold
Corp. is pleased to announce assay results on the Kell Mine property
exploration drill program. The Kell Mine property is located in Corkill
Township, approximately 18 km southeast of Gowganda, Ontario, and hosts
silver-cobalt-nickel mineralization in a series of en-echelon quartz-calcite
veins in a deformation zone averaging three to eight metres wide. The Company
conducted magnetic and electromagnetic surveys across the vein, and drilled 17
holes totalling 2270m, testing the Kell vein along strike and at shallow
depths.
The exploration program successfully identified areas of silver enrichment
along the Kell Mine deformation zone, with drill hole AGKL07-08 returning 2,401
g/t silver over 1.73m, from 36.72m to 38.45m down hole. The silver is hosted in
a quartz-calcite-chlorite vein zone in altered diabase, where silver is found
in both veining and wall rock. The intersection returned a higher-grade sample
of 4,580.4 g/t silver over 0.53m, from 36.72 to 37.25 as well as 3.574.5 g/t
silver over 0.40m from 37.25m to 37.65m.
Drilling also intersected 262 g/t silver, over 8.63m in drill hole AGKL07-04,
from 57.54m to 66.17m down hole. The silver mineralization is found in
pervasively calcite altered diabase with chlorite in which veinlets and
stringers of calcite-quartz +/- magnetite +/- chlorite up to 36cm in width host
silver-cobalt-nickel mineralization. Native silver grains run to 0.5mm in size,
with minor grains of argentite noted as well. This interval also returned a
higher-grade value of 2,410.6 g/t silver over 0.92m from 62.34m to 63.26m down
hole. All the silver was within the envelope of alteration hosted within the
envelope of deformation.
"Finding good grade silver in quartz-calcite veins, in the deformation
zone, and in Nipissing diabase wall rock is very encouraging", said Amador
Gold Corp CEO Richard Hughes, "and we look forward to further detailed
exploration."
Area History
The Kell Mine deformation zone was discovered in 1909. The deformation zone is
hosted in Nipissing diabase, consistent with mineralization at mines in the
Gowganda silver camp, where approximately 60 million ounces of silver were
mined in the early part of the 1900s. In 1920-21, a shaft was driven to 104
feet, with two exploration levels at the 54-foot and 100-foot levels. Some 700
feet north of the shaft, a pit was dug, as well as prospecting pits to the
south of the shaft. A small shipment of 1,558 lbs of rock gave 1,620.9 ounces
of silver.
The exploration program was conducted by Amador Gold Corp., under the
supervision of Douglas Robinson, P. Eng. Mr. Robinson is the qualified person
for this project. He has read this release and approved its contents.
Additional Notices
The company has completed an initial evaluation and has decided to terminate
its option agreement related to the Sheridan property.
Further to the Company's private placement news release of September 29, 2008,
Amador Gold Corp. (TSX-V: AGX); the financing is amended to consist of
flow-through and non-flow through units priced at $0.10 per unit. Each of the
units will consist of one flow through or non-flow through common share and one
non-flow through non-transferable share purchase warrant entitling the holder
to purchase one additional common share for a period of two years at a price of
$0.15 per share. In accordance with Exchange policies, finders' fees may be
paid on a portion of the funds raised. The private placement is subject to
regulatory approval.
About Amador Gold
Amador Gold is well positioned to discover and capitalize on world class gold,
silver, platinum, palladium, copper/nickel and diamond deposits. During the
past several years the Company has strategically accumulated large land
packages in existing mining or mineral districts in Ontario thereby ensuring
the Company's assets are entirely within Canada. All of Amador Gold's
properties are close to existing infrastructure and are often within road
access to metallurgical facilities.
CONTACT INFORMATION
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations (604)
685-2222 or info@amadorgold.com, or visit our website www.amadorgoldcorp.com
for more information.
AGORACOM Investor
Relations: Email: AGX@agoracom.com
Website: http://www.agoracom.com/ir/Amador
The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events
or results could differ materially from the Company's expectations and
projections.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this news release.
Copyright �
2008 AMADOR GOLD CORP. (AGX) All rights reserved. For more information visit
our website at http://www.amadorgoldcorp.com/
or send email to info@amadorgoldcorp.com ..