Amarillo Gold (AGC-V) Aug 15, '16 In replying to IIROC, Buddy Doyle, president and chief executive officer of Amarillo, noted: "Amarillo had come out of [a] long period of no news and a poor market. Since Amarillo received its LP permit in May, 2016, it has been marketing its story through road shows and otherwise. The reception from the investment community has been good. This has seen a gradual increase in our share price, of which the latest rise is just a small part. The increasingly bullish gold market has certainly helped."
"And Dino's Bar & Grill."
About Amarillo Gold Corp.
Amarillo Gold Corp. is focused on acquisition, discovery, and definition of gold resources in Brazil. It is the Company's policy to strive to do this in a sustainable, safe way using best practices whilst benefiting our shareholders and the communities we work in. The Company's 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 8.568MT @ 2.00 g/t Au Measured, 13.458MT @1.52 g/t Au Indicated and 7.119MT @ 1.26 g/t Au Inferred. (A NI 43-101 resource as independently determined by Australian Exploration Field Services Pty. Keith Whitehouse QP July 2016). The Mara Rosa Gold Project has received a positive economic assessment from a Pre-Feasibility study and Amarillo has obtained the LP, the first stage of a three stage permitting process. The Posse Deposit was successfully mined by Western Mining Corporation (WMC) during the 1990s (mined areas are excluded from the above-stated resource figures), and is located in an area of excellent infrastructure: approximately 35 km NE of Yamana's Chapada open pit Cu-Au operation, some 80 km NE of Yamana's Pilar Au project (in feasibility), 95 km NW of Votorantim's Niquelandia Ni laterite mine, 105 km from NE of Serra Grande's underground Au mine, and 105 km NNW of Anglo American's Ni laterite project at Barro Alto.
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, with encouraging gold mineralization discovered and defined by more than 16,000 meters of drilling. 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 in a NI 43-101 resource as independently determined by Atticus Consulting in 2010, Anthony Amberg, QP. Lavras do Sul is also located near excellent infrastructure. The Company also has a portfolio of earlier stage projects and all properties under Amarillo's management are located in areas of good infrastructure and mining-friendly communities.
ON BEHALF OF THE BOARD OF DIRECTORS AMARILLO GOLD CORP.
Per: "Buddy Doyle"
Buddy Doyle, President
Contacts:
Amarillo Gold Corp.
+ 1-604-689-1799 (Canada)
+55-31-3261-5974 (Brazil)
info@amarillogold.com
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