TORONTO, June 11, 2018 (GLOBE NEWSWIRE) -- Amarillo Gold Corporation (“Amarillo” or the “Company”) (TSX.V:AGC) is pleased to announce that Marc Ducharme has been appointed Chief Exploration Geologist. Mr. Ducharme is a geologist with over thirty years of experience in the minerals industry, managing and conducting exploration programs from grass roots through to advanced stage exploration and feasibility stage projects. Recently, Mr. Ducharme worked as the Chief Exploration Geologist for Wesdome Gold Mines.
Mike Mutchler, CEO of Amarillo Gold commented: “The appointment of Marc reflects our confidence in his vast experience, competence and professionalism. We believe that having staff of his calibre is essential to transforming Amarillo into a world-class gold development and exploration company. In the near term, I look forward to working closely with him to maximize our exploration efforts underway at Mara Rosa.”
ABOUT AMARILLO Amarillo is developing a highly economic, open pit gold resource at its Mara Rosa Project in the mining friendly jurisdiction of Goias State in Brazil. An Updated Pre-Feasibility Study NI 43-101 for the Mara Rosa Project was filed on SEDAR on May 4, 2017. The Mara Rosa Project was awarded its main (LP) permit which provides the social and environment permission to mine. Amarillo is now progressing work toward obtaining an installation permit (LI). The Posse Deposit at Mara Rosa contains 551,100 ounces of gold Measured from 8.568MT @ 2.00 g/t Au, plus 659,000 ounces of gold Indicated from 13.458MT @ 1.52 g/t Au and 287,700 ounces of gold Inferred from 7.119MT @ 1.26 g/t Au. (NI 43-101 technical report July 2016). In addition, Amarillo has an advanced exploration project with excellent grades at Lavras do Sul, Brazil. A Mineral Resource Estimate Study (NI 43-101 technical report) for Lavras do Sul was filed on SEDAR on October 4, 2010. The Lavras do Sul Project is an advanced exploration stage property (190 sq. km.) comprising of more than 19 prospects centered on historic gold workings. 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 using a 0.3 g/t cut-off grade. Both projects have excellent nearby infrastructure.
| For further information, please contact: | ||
| Mike Mutchler | or | Karen Mate |
| President & CEO | Marketing Strategist | |
| 416-294-0736 | 416-230-6454 | |
| mike.mutchler@amarillogold.com | karen.mate@amarillogold.com | |
32 Richmond St. East Suite 201 Toronto, ON Canada, M5C 1P1 Website: www.amarillogold.com
Neither the 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 the Company’s current expectations regarding future events, including with respect to the Company’s business, operations and condition, management’s objectives, strategies, beliefs and intentions. Various factors may prevent or delay our plans, including but not limited to, the trading price of the Common Shares, certain lenders not advancing funds as required, 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. Permission from the Government and community is also required to proceed with future mining production. Readers should review the Company’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Company’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. Readers should also review the risk factors applicable to junior mining exploration companies generally to better understand the variety of risks that can affect the Company. The Company undertakes no obligation to update publicly or otherwise revise any Forward Looking Statements whether as a result of new information or future events or otherwise, except as me be required by law.
