Amarillo Provides Update on the Cerrito Prospect, Lavras Do Sul, Brazil. Known Mineralization Expanded, Definition Drilling Cont
March 25 2008 - 8:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("Amarillo" or the "Company") has
had a drill dedicated to exploration at its Cerrito prospect since
August 2007. The Cerrito prospect is the most developed of the four
known gold mineralized prospects at the Lavras do Sul project,
situated in the state of Rio Grande do Sul. A total of 24 drill
holes have been completed at Cerrito for a cumulative total of
2,439 metres. Assays have been returned for the first 16 of these
holes. Assays for the first five holes, LDH-04 through 08, have
been reported previously, but are restated here for reference. The
results for drill holes 4 and 5 are re-assays, after the standards
submitted in the original batch were determined to be
non-compliant. The assays for all the other holes are new.
The drilling to date has revealed three zones of gold
mineralization on the prospect. The central zone strikes for about
400m and is up to 50m wide. The other zones are less well defined
and require more drilling. The locations of the drill holes and
intercepts are depicted on our website and can be found by
following this link:
http://www.amarillogold.com/sites/amarillogold.com/files/CERRITO_A4_WEB-1.pdf.
The style of mineralization at Cerrito is typical of the Lavras
do Sul project, where we have found other separate areas of gold
mineralization at the Butia, Paredao and Caneleira prospects. They
are all hosted in zones of alteration within the 100 sq. kilometre
Lavras do Sul granite intrusive complex. The alteration is
dominated by sericite, hematite and minor chlorite. The gold
mineralization occurs hosted with the broader alteration in
structurally control zones. Occasional silica and quartz veining
hosts higher grade (greater than 10 g/t Au) gold values.
In detail each prospect has its own recognizably different
character dependent in part on the host rock type which varies from
syenite, syenogranite to granodiorite. The silver to gold ratio and
the presence of pathfinder elements like arsenic vary among the
prospects. There are numerous other areas of alteration and old
diggings which have yet to be mapped and drill tested.
Table 1: Summary of Drill results to Date :- Cerrito Prospect
Total Grade
Hole Depth Azimuth From To Distance (g/t
No. (m) /Dip Zone (m) (m) (m) Au)
10 degrees /
LDH-04 168.05 -60 degrees Centre 2.05 126 123.95 0.90
incl. 2.05 6.65 4.6 1.48
incl. 20 38 18 1.17
incl. 64 73 9 1.69
incl. 86 100 14 1.34
incl. 111 116 5 2.66
10 degrees /
LDH-05 148.65 -60 degrees West 0 54 54 0.67
incl. 23 52 29 0.95
10 degrees /
LDH-06 135.95 -60 degrees West 0 92 92 0.31
incl. 80 92 12 0.62
10 degrees /
LDH-07 134.35 -60 degrees West 5.9 91 85.1 0.35
incl. 15 26 11 0.87
20 degrees /
LDH-08 155.95 -60 degrees West 0 122.5 122.5 0.35
incl. 0 12.5 12.5 0.45
and 92 107 15 1.22
60 degrees /
LDH-09 113.30 -60 degrees West No significant intersections
30 degrees /
LDH-10 134.65 -60 degrees West No significant intersections
30 degrees /
LDH-17 120.25 -60 degrees West 0 25.5 25.5 1.02
340 degrees /
LDH-18 120.15 -60 degrees Centre 19 74 55 0.70
incl. 52 67 15 1.84
340 degrees / North-
LDH-19 120.60 -60 degrees east No significant intersections
340 degrees / North-
LDH-20 131.00 -60 degrees east 5 13 8 0.30
340 degrees /
LDH-21 180.95 -60 degrees West 0 173 173 0.36
incl. 10 22.5 12.5 0.53
incl. 148.5 161 12.5 1.11
340 degrees /
LDH-22 218.90 -60 degrees West 0 210 210 0.31
incl. 0 12.5 12.5 0.42
incl. 37 58 21 1.04
30 degrees /
LDH-23 210.80 -60 degrees West 205 210.8 5.8 2.31
10 degrees /
LDH-24 200.85 -60 degrees West 0 4.95 4.95 0.55
and 43 50 7 1.85
and 62 76 14 0.77
and 105 113 8 1.92
and 191 195.1 4.1 1.09
20 degrees /
LDH-25 144.75 -60 degrees West 34 44 10 0.38
and 124 130 6 0.83
Note: Amarillo runs a rigorous check assay program that includes
standards, repeat assays, and blanks. Some of the standards in the
holes reported here did not comply with our 2 standard deviations
of error limit. The Company ordered these holes to be re-assayed,
consistent with our standard practice, and the new results are
reported here. The new results are compliant and considered
definitive. The Company uses Acme Laboratories of Santiago, Chile
for these assays and the samples are subject to a chain of custody
procedure. A 0.3 g/t cut-off was used to construct this table.
The Company is now drill testing the main gold zone at Cerrito
with the purpose of obtaining enough information to estimate an
inferred resource. The drill is currently on LDH 30, the
twenty-sixth hole in the prospect; 12 more holes are planned. A
second drill is currently drilling at the Butia prospect. The plan
is to drill both prospects to a stage where we can complete an
independent 43-101 estimate of the inferred resource. Early stage
metallurgical tests will be also carried out using the core from
this program. This work will increase our understanding of the
mineralization at Lavras do Sul and will help guide us when we
return exploration and drill test the numerous other areas of
potential gold mineralization hosted by the intrusive. Our current
vision is these numerous areas of mineralization could support
multiple open-pits feeding a central processing plant.
This news release was compiled by Buddy Doyle, who is the
Qualified Person as defined by NI 43-101.
Amarillo Gold Corp. is a company focused on the acquisition,
definition and discovery of gold resources in Brazil. Its 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 was found by an independent 43-101 compliant
preliminary economic assessment study carried out by CCIC to
contain 1.1 million ounces (643,000 ounces indicated @ 1.48 g/t Au,
538,000 ounces inferred @ 1.26 g/t Au). The Company also has a
portfolio of earlier stage projects. All properties under
Amarillo's management are located in areas of good infrastructure
and robust community support.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.
Buddy Doyle, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Amarillo Gold Corp. Buddy Doyle President (604)
689-1799 (604) 689-1899 (FAX) Website: www.amarillogold.com
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