Mr. Mike Mutchler reports
AMARILLO ANNOUNCES ASSAY RESULTS AND EXPLORATION UPDATE
Amarillo Gold Corp. previously announced on May 23, 2018, that it had commenced a 10,000-metre drill program on its flagship Mara Rosa project. The assay results reported in the table are from four geotechnical holes drilled in 2011, but only now assayed as part of this new campaign.
GOLD FIRE ASSAY RESULTS -- GEOTECHNICAL HOLESDrill holeFrom (m)To (m) Width (m) Au (g/t) True width (m)Comments2011MRP006173 18310 0.907.5190 193 3 1.012.7199 25758 1.75 40.7Includes 1 m @ 10.65 g/t from208 m to 209 m uncut and 4 m @ 6.5 g/t from 231 m to 235 m uncut and2 m @ 6.02 g/t from 240 m to 242 m2011MRP0010 213 25845 1.70 31.0 Includes 7 m @ 7.35 g/t from 226 mto 233 m uncut, 0.52m of core lossin this zone2011MRP0012 118 127.6 9.6 1.176.5142 21472 0.96 47.5Includes 6 m @ 3.30 g/t from 196 to202 m, 1.61 m of core loss2011MRP0013 112 119 7 0.954.7Samples of split NQ size core, sampled at one-metre 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 five m below cut-off included for continuity.Assays greater than 10 g/t cut to 10 g/t. Grades quoted to two decimal places. High-grade intervals in comments are intervals over three g/t over three m width not cut.Samples followed a chain of custody protocol.
Marc Ducharme, Amarillo's chief exploration geologist, commented: "These early assays confirm good orebody thickness and grade continuity as anticipated in our resource block model. We now have three core drills working at Mara Rosa and have mobilized two reverse circulation drills this week. Our program is targeting infill and stepout drilling primarily on the northern, shallower end of the planned pit. In addition, we plan to explore the resource at Mara Rosa down dip with our stepout drilling."
Mike Mutchler, chief executive officer of Amarillo, added: "Our immediate goal for the infill drilling is to convert the 300,000 ounces of inferred ore into indicated ore to be included in next year's feasibility study. This will allow for improved project economics and extension of mine life to at least 10 years. We will also explore the possibility that the orebody extends down dip and beyond the limits of the pit. I would like to congratulate our Brazilian staff on their outstanding efforts to quickly mobilize the drills and restart exploration drilling at Mara Rosa after a seven-year hiatus."
The technical content of this release has been reviewed and approved by Frank Baker, project manager for the company and a qualified person as defined in National Instrument 43-101.
About Amarillo Gold Corp.
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. The Posse deposit at Mara Rosa contains 551,100 ounces of gold measured from 8,568,000 tonnes at 2.00 grams per tonne gold, plus 659,000 ounces of gold indicated from 13,458,000 t at 1.52 g/t Au and 287,700 ounces of gold inferred from 7,119,000 t at 1.26 g/t Au (NI 43-101 technical resource report July, 2016). In addition, Amarillo has an advanced exploration project with excellent grades at Lavras do Sul, Brazil. The initial resource estimate at the Butia prospect reported 215,000 ounces of gold indicated from 6.4 million tonnes at 1.05 grams per tonne gold 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.
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