Amarillo Gold Corporation: Phase 1 Drilling at Mara Rosa Gold Project, Brazil, Underway.TORONTO -- Amarillo Gold Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers ) announces that the first phase drilling program of 1,250-meters of diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral at its 100% owned Mara Rosa Mara Rosa is a small town and municipality in north-central Goiás state, Brazil.
Metallica Resources (TSX: MR and NYSE: MRB) is a Canadian based mineral and gold mining company. Inc. The project encompasses 45,385 hectares within 3 mining leases and 19 exploration permits. The initial drilling phase will consist of 11 drill holes all of which are targeted within and across the known Posse Gold deposit and its possible extensions. It is expected the 3-4 holes will be completed prior to the Christmas break with the remainder being finished early in the new year. Further drilling in the new year is planned based on the results of this first round. Amarillo has commissioned South American Management S.A., "SAMSA SAMSA South African Maritime Safety Authority SAMSA Substance Abuse and Mental Health Services Administration SAMSA Silica and Moulding Sand Association (UK) " an independent geological and mining consulting group based out of Santiago, Chile, to complete a resource estimate for the Posse Gold deposit. This resource will be compiled from the historic database of more than 190 drill holes. A National Instrument 43-101 compliant report stating the mineral resource at Posse based on the historic data is expected to be completed early in the new year. This report will be updated when the assays for the drill program now underway are returned. Preliminary, studies related to this report suggest that mineralisation above 150m depth below surface will be economically accessible by open pit methods and the majority of the drill holes will be focused on enhancing the resource in this zone. A number of the other holes will target geochemistry and structure testing for new shallow mineralisation in the vicinity. Amarillo is a precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. exploration and development company whose main asset is the Mara Rosa Gold Project in Brazil. The Company's qualified person for the Mara Rosa Gold Project under the guidelines of the Canadian National Instrument 43-101 is Mr. Buddy Doyle, MAUSIMM. To learn more about Amarillo Gold Corp. and its projects please visit the company's website at http://www.amarillogold.com. TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. Inc. has not reviewed and does not accept res ponsibility for the adequacy or accuracy of this release. Amarillo Gold Corp. (TSX VENTURE:AGC) |
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