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Amarillo Gold Corp.

Publié le 13 septembre 2011

Upgrades Mara Rosa Resource to Measured + Indicated 1.17 Million Ounces at 1.75 g/t Au

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Amarillo Gold Upgrades Mara Rosa Resource to 1.17 Million Ounces (M+I) at 1.75 g/t Au

Amarillo Gold Corp. (TSX-V: AGC) (�Amarillo� or the �Company�) is pleased to announce that it has received an updated gold resource calculation for its 100%-owned Posse deposit on the Mara Rosa gold project in Goias State, Brazil. The new gold resource estimate includes the most recent 31 drill holes completed during an 8524 metre definition drilling program. The results are given in Table 1 below and are NI 43-101 compliant.

Table 1.  Posse Deposit resource estimate using 0.5g/t gold cut-off.

Cut-off

Category

Tonnes

Grade

Contained Oz

0.5 g/t

Measured

5,463,000

2.04

358,300

 

Indicated

15,393,000

1.65

816,600

 

Total M+I

20,856,000

1.75

1,174,900

 

Inferred

3,630,000

1.34

156,400

 

The independent qualified person for the resource estimate report is Hugo Hoogvliet, a consulting geologist with 25 years experience and a member of the AIG. The resource calculation was completed by Keith Whitehouse a geologist with 30 years experience and a principal of Australian Exploration Field Services Pty Ltd. ("AEFS"). Mr. Whitehouse is a member of the Aus.IMM and a CP (Chartered Professional Geologist).

The modeling process consisted of completing four runs through the data for each of the zones modeled (Hanging Wall, Main, and Foot Wall) using different size search ellipsoids. The different ellipsoids were initially used to differentiate and assign resource classification codes to each resource block (i.e. Measured, Indicated, Inferred and Not Classified). This process was then refined based on the drill-hole data density. The resource was modeled using two different modeling algorithms - Inverse Distance Squared and Median Indicator Kriging. A second run with modified search parameters to specifically model the higher grade portions of the deposit was completed and combined with the model from the first run. This combined resource model improved the fit to the raw data. The estimates were made using Micromine software.

 Buddy Doyle, CEO and President of Amarillo commented, "We are very pleased with these results. The definition drilling has materially improved the quality of the gold resource at Posse. Prior to definition drilling the indicated resource was 60% of the global resource; now it is more than 90% (M+I), and the gold grade has also improved over past estimates. The Measured and Indicated category resources will now be used as the basis for the pit design, scheduling, and the economic modeling for the ongoing Pre-feasibility Study, which is on track for completion early next quarter."

The qualified person for this report as per the NI 43-101 guidelines is Kevin R. Kivi, PGeo (APGO).

The full report regarding this new resource estimate can be viewed on the Company�s website www.amarillogold.com and has also been filed on SEDAR.

About Amarillo Gold Corp.

Amarillo Gold Corp. is focused on the acquisition, discovery, and definition of gold resources in Brazil. The Company�s 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 contains 1,174,900 ounces of gold measured and indicated from 20.85 MT at 1.75 g/t Au, and 156,400 ounces of gold inferred from 3.63 MT at 1.38 g/t Au (0.5 g/t cut-off grade) (NI 43-101 compliant resource as independently determined by Australian Exploration Field Services Pty. AEFS). The Mara Rosa Gold Project is in the Pre-feasibility stage.

The Posse Deposit was successfully mined by Western Mining Company (WMC) during the 1990s (mined areas are excluded from the above-stated resource figures), and is located in an area of excellent infrastructure approximately 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 Ni laterite project (in construction), 95 km NW of Votarintim�s Niquelandia Ni laterite mine, and some 60 km NE of Yamana�s Pilar Au project (in Feasibility). Grid power to the site was established during WMC�s open pit mining operation, and the Serra da Mesa (450 MW) hydro-electric dam lies 35 km to the east.

The Lavras do Sul Project is an advanced exploration stage property (190 sq km) comprised of more than 19 prospects centered on historic gold workings, with encouraging gold mineralization discovered and defined by more than 16,000 metres of drilling. The initial resource estimate at the Butia prospect reported 215,000 ounces of gold indicated from 6.4 MT at 1.05 g/t Au, and 308,000 ounces of gold inferred from 12.9 MT at 0.74 g/t Au ((0.3 g/t cut-off grade)(NI 43-101 compliant resource as independently determined by Atticus Consulting 2010). Lavras do Sul is also located near excellent infrastructure. The Company also has a portfolio of earlier stage projects and all properties under Amarillo�s management are located in areas of good infrastructure and mining-friendly communities.

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

           

Per:      �Buddy Doyle�                       

          Buddy Doyle, President

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

 

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.

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.

Copyright � 2011 Amarillo Gold Corp., All rights reserved.
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Our mailing address is:
Amarillo Gold Corp.
#1818 - 701 West Georgia St.
PO Box 10144
Vancouver, British Columbia V7Y 1C6

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Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Amarillo Gold Corp.

EXPLORATEUR
CODE : AGC.V
ISIN : CA02301T1084
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Amarillo Gold est une société d’exploration minière d'or basée au Canada.

Amarillo Gold détient divers projets d'exploration au Bresil.

Ses principaux projets en exploration sont MARA ROSA, SAN ANTONIO, OUROLANDIA et LAVRAS DO SUL au Bresil.

Amarillo Gold est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 35,3 millions CA$ (28,2 millions US$, 24,7 millions €).

La valeur de son action a atteint son plus haut niveau récent le 24 décembre 2010 à 1,90 CA$, et son plus bas niveau récent le 24 décembre 2015 à 0,04 CA$.

Amarillo Gold possède 80 250 000 actions en circulation.

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Rapports annuels de Amarillo Gold Corp.
2007 Annual Report
Financements de Amarillo Gold Corp.
14/04/2011ANNOUNCES $10 MILLION PRIVATE PLACEMENT
Attributions d'options de Amarillo Gold Corp.
18/07/2011Shareholders Approve Rights Plan; Company Grants Options
Projets de Amarillo Gold Corp.
29/04/2013(Mara Rosa)Mara Rosa Project: New Geotechnical Study Allows for Steeper...
11/10/2012(Mara Rosa)Receives Further Positive Metallurgical Results at the Mara ...
13/09/2011(Mara Rosa)Upgrades Mara Rosa Resource to Measured + Indicated 1.17 Mil...
29/06/2011(Mara Rosa)Reports Final 12 Definition Drill Holes at Mara Rosa Gold Pr...
08/04/2011(Mara Rosa)Completes Definition Drilling at Mara Rosa Gold Project
01/02/2011(Mara Rosa)Drills 35.7 m (True Width) of 2.67 g/t Au in First Results f...
28/05/2007Releases Drilling and Assaying Update from its Lavras do Sul...
Communiqués de Presse de Amarillo Gold Corp.
18/01/2016Public Hearing for the Environmental Permitting of the Posse...
18/01/2016Public Hearing for the Environmental Permitting of the Posse...
14/07/2015Amarillo Appoints Araõ Portugal to Expedite Permitting
14/07/2015Amarillo Appoints Arao Portugal to Expedite Permitting
08/10/2014Amarillo Gold Welcomes New Chief Financial Officer
18/08/2014Amarillo Gold Announces Gold-linked Credit Facility
15/07/2014Amarillo Gold Signs a Protocol With the State of Goias and t...
19/02/2013Drills 19 Metres at 2.47 g/t Au at Saddle Zone in Proposed P...
12/09/2012Closes Non-Brokered Private Placement for $4.1 Million in Pr...
19/09/2011Dale Mah comments on Amarillo Gold Corp. in Gold Report Inte...
09/09/2011Upcoming Conferences
17/06/2011Implements Shareholder Rights Plan
26/05/2011Follow Up (Mackie Research)
24/05/2011Receives Pre-Feasibility Metallurgical Report, Defining Gold...
04/05/2011Closes $10 Million Brokered Private Placement
29/04/2011Closes First Tranche of Brokered Private Placement for $8.4 ...
11/04/2011Buddy Doyle Leads Amarillo Gold - Northern Miner
03/03/2011Drills 17 Metres of 3.17 G/T Au in 2nd Round of Results From...
20/08/2008drills 88 m @ 1.83 g/t Au at Butiá, and 162m @ 0.70 g/t Au a...
17/04/2007Assay Results From Marifil'S Amarillo Norte Gold Property --...
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