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Gold/Mining/Energy : Amarillo Gold (AGC.V)

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From: TheSlowLane	9/13/2011 9:34:54 AM
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Amarillo Gold Upgrades Mara Rosa Resource to Measured + Indicated 1.17 Million Ounces at 1.75 g/t Au VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - Amarillo Gold Corp. (TSX VENTURE: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. <snip> 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." marketwire.com

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