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Amarillo Provides Update on Drilling Results at Mara Rosa

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TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Amarillo Gold Corporation ("Amarillo" or the "Company") (TSX.V: AGC) (OTCQB:AGCBF) is pleased to provide additional results from its ongoing drilling at its Mara Rosa open-pit gold project in Goias State, Brazil.

Highlights¹:

  • 1.81 Au g/t over 13 m core length in Hole 18P058
  • 3.54 Au g/t (or 6.24 Au g/t uncut) over 11 m core length in Hole 18P061
  • 1.33 Au g/t over 17 m core length in Hole 18P062
    ¹Drill core lengths and true widths are indicated in Table 1 below

In May 2018, the Company commenced a 10,000 m drill program at Mara Rosa which included 7,000 m of core drilling and 3,000 m of RC drilling designed to convert the existing 330K ounces from Inferred resources to Indicated resources and to explore for nearby deposits along the 12 km long Posse trend. A total of 5,179 m of diamond drilling from 19 holes have been completed to date (see also results from 11 diamond drill holes in our Press Release dated September 10, 2018).

Please click on the attached link to view the drill hole locations:

https://www.amarillogold.com/W0p23B/wp-content/uploads/2018/10/Mara-Rosa-2018-Drilling-Program-Posse-Mine.jpg

Mike Mutchler, CEO of Amarillo commented, "These latest infill drilling results confirm the grade and thickness continuity in the central to northern sector of the Mara Rosa gold deposit and are expected to contribute significantly towards the conversion from Inferred to Indicated resources. Following the ongoing down dip drilling in the south end of the planned pit, we will begin a step-out, deep exploration drilling program spanning 400 m towards the southwest to test the Mara Rosa resource potential along strike."

 
Table 1: Diamond Drill Hole Assay Results
 
Drill Hole From (m) To (m) Core Length (m) True Width (m) Grade Au g/t Grade Au g/t uncut
18P058 288 292 4.0 3.8 0.64 0.64
18P058 304 317 13.0 12.4 1.81 1.81
18P058 344 348 4.0 3.8 0.58 0.58
18P059 137 140 3.0 2.3 3.21 3.21
18P059 185 204 19.0 15.1 0.74 0.74
18P059 216 236 20.0 15.9 0.65 0.65
18P060 135 137 2.0 1.5 0.53 0.53
18P060 185 207 22.0 16.6 0.80 0.8
18P060 220 239 19.0 14.2 0.82 0.82
18P061 198 209 11.0 7.8 3.54 6.24
18P061 247 252 5.0 3.6 0.47 0.47
18P061 266 268 2.0 1.4 0.58 0.58
18P061 280 286 6.0 4.3 0.43 0.43
18P062 298 300 2.0 1.8 3.08 3.08
18P062 308 325 17.0 15.3 1.33 1.33
18P062 327 334 7.0 6.3 0.49 0.49
18P063 308 321 13.0 11.5 0.90 0.9
18P063 333 335 2.0 1.8 0.70 0.7
18P063 342 345 3.0 2.6 2.33 2.33
18P064 151 158 7.0 0.48 0.48 0.48
18P065 267.5 275 7.5 0.53 0.53 0.53
18P065 267.5 311 43.5 0.72 0.72 0.72
Including 289 294 5.0 0.93 0.93 0.93
Including 297 311 14.0 1.12 1.12 1.12
18P065 320 326 6.0 0.43 0.43 0.43
Notes to Table 1:
Samples of split NQ size core, sampled at 1m intervals, assayed by fire assay at ALS Laboratories an ISO registered laboratory.
Blank, repeat assays, and standards were used and all returned results within compliance.
Gold intervals calculated using a 0.35 g/t cut-off. Intervals of up to 5m below cut-off included for continuity.
Assays greater than 10g/t cut to 10g/t. Grades quoted to two decimal places.
Samples followed a chain of custody protocol.
 
 
Table 2: Diamond Drill Hole Location and Parameters
 
Drill Hole Easting (m) Northing (m) Length (m) Azimuth/Dip
18P047 696794 8454791 253 140°/-61.8
18P048 696845 8454837 251 140°/-58.6
18P049 696897 8454865 242 140°/-70.1
18P050 696910 8454884 250 140°/-69
18P051 696823 8454837 244 144°/-59.9
18P052 696772 8454764
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