Amarillo Welcomes Frank Baker to Lead the Mara Rosa Project Through Pre-Feasibility and Beyond
October 12 2010 - 11:49AM
Marketwired
Amarillo Gold Corp. (TSX VENTURE: AGC) ("Amarillo" or the
"Company") is pleased to announce that Mr. Frank Baker MSc, Member
IMM, Member AusIMM has accepted the position of Project Manager for
the Mara Rosa project. Mr. Baker has 38 years' experience in the
mining industry, during which time he has been involved in the
planning, construction and operation of mines in a number of
countries including Australia, Venezuela, Africa and, importantly,
Brazil. A graduate of Sheffield University with a Masters degree in
Metallurgy, Mr. Baker is fluent in Portuguese and is a Brazilian
citizen. He has experience working with a number of commodities
with a particular emphasis on gold.
His most recent employment was in Western Australia,
commissioning and operating a gold mine of similar size and scope
to that envisaged for our Mara Rosa project. Mr. Baker was also the
plant manager for the implementation and commissioning of the San
Francisco Mine in Mato Grosso, Brazil.
A Preliminary Economic Assessment completed in 2008 for the Mara
Rosa project by Caracale Creek International Consulting envisions a
2 million tonne per year open-pit gold mining operation having a
mine life of at least 8 years. Amarillo is now commissioning a
prefeasibility study with the view of taking this project through
to bankable feasibility, and ultimately positioning the project for
a mine development decision. Mr. Baker will manage these
studies.
One of Mr. Baker's first tasks will be to help select the lead
engineering firm from a group of engineering consultant groups that
have submitted proposals to Amarillo for the prefeasibility study.
Amarillo has already commenced metallurgical test-work and the
resource/geotechnical drilling components of the pre-feasibility
study.
In addition to heading up the Mara Rosa project, Mr. Baker will
also guide the metallurgical and engineering aspects of the Lavras
do Sul project and offer general and managerial assistance to
Amarillo's entire Brazilian operations.
Amarillo would also like to take this opportunity to note that
William Richard Brown, our Chief Operating Officer, has stepped
down as COO. Mr. Brown will continue as a director of Amarillo,
with the title of Vice President Business Development and expected
to still be very active in the company. Mr. Buddy Doyle, President
and CEO of Amarillo, said the following. "We would also like to
welcome Mr. Frank Baker to the Company. Amarillo is fortunate to
have attracted a metallurgist/engineer/mine maker of such caliber
and drive. The Board and I would like to thank Rick Brown for his
sustained efforts and his substantial accomplishments over the
years as COO. His drive and his belief in the prospects for gold
mining in Brazil led to the founding of the company, and
underpinned much of our success to date. We look forward to Rick's
continued guidance in his new role."
ABOUT AMARILLO:-
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 contains 623,000 ounces indicated from
11.9MTonnes @ 1.62 g/t Au and 451,000 ounces inferred from
10.1MTonnes @ 1.38 g/t Au at a 0.5g/t cut-off grade, 43-101
compliant resource as independently determined by AEFS. The project
is in the economic evaluation stage. The Posse deposit was
successfully mined by WMC during the 1990's (mined areas are
excluded from the above resource figures) and is located in an area
of excellent infrastructure. It is located some 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 nickel
laterite project (in construction), 95 km NW of Votarintim's
Niquelandia nickel laterite mine and approximately 60 kms NE of
Yamana's Pilar Au project (in feasibility). Grid power to the site
was established during the previous open pit mining operation and
the Serra da Mesa hydro-electric dam lies 35 km to the east.
The Lavras do Sul project is in the advanced exploration stage
with over 16,000m of drilling with encouraging gold mineralization
being discovered and defined, also in an area of excellent
infrastructure. The company has commissioned an initial resource
estimate at the Butia prospect, and it was reported to contain
215,000 ounces of indicated from 6.4MT @ 1.05 g/t Au and 308,000
ounces of inferred from 12.9MT @ 0.74 g/t Au at a 0.3 g/t cut-off.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.
Buddy Doyle, President
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.
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.
Contacts: Amarillo Gold Corp. + 1-604-689 1799 (Canada)
+55-31-3261 5974 (Brazil) info@amarillogold.com
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