Mr. Mike Mutchler reports
AMARILLO PROVIDES UPDATE ON DRILLING RESULTS AT MARA ROSA
Amarillo Gold Corp. is providing additional results from its continuing drilling at its Mara Rosa open-pit gold project in Goias state, Brazil.
Highlights:
1.81 grams per tonne gold over a 13-metre core length in hole 18P058;3.54 g/t Au (or 6.24 g/t Au uncut) over 11 m core length in hole 18P061;1.33 g/t Au over 17 m core length in hole 18P062.
In May, 2018, the company commenced a 10,000-metre drill program at Mara Rosa which included 7,000 m of core drilling and 3,000 m of reverse circulation drilling designed to convert the existing 330,000 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 the company's press release dated Sept. 10, 2018).
Mike Mutchler, chief executive officer 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 stepout, deep exploration drilling program spanning 400 m towards the southwest to test the Mara Rosa resource potential along strike."
DIAMOND DRILL HOLE ASSAY RESULTSDrill hole From (m) To (m) Core length (m) True width (m) Au (g/t) Au uncut (g/t)18P058 288292 4.03.8 0.64 0.6418P058 30431713.0 12.4 1.81 1.8118P058 344348 4.03.8 0.58 0.5818P059 137140 3.02.3 3.21 3.2118P059 18520419.0 15.1 0.74 0.7418P059 21623620.0 15.9 0.65 0.6518P060 135137 2.01.5 0.53 0.5318P060 18520722.0 16.6 0.800.818P060 22023919.0 14.2 0.82 0.8218P061 19820911.07.8 3.54 6.2418P061 247252 5.03.6 0.47 0.4718P061 266268 2.01.4 0.58 0.5818P061 280286 6.04.3 0.43 0.4318P062 298300 2.01.8 3.08 3.0818P062 30832517.0 15.3 1.33 1.3318P062 327334 7.06.3 0.49 0.4918P063 30832113.0 11.5 0.900.918P063 333335 2.01.8 0.700.718P063 342345 3.02.6 2.33 2.3318P064 151158 7.0 0.48 0.48 0.4818P065 267.5275 7.5 0.53 0.53 0.5318P065 267.531143.5 0.72 0.72 0.72Including289294 5.0 0.93 0.93 0.93Including29731114.0 1.12 1.12 1.1218P065 320326 6.0 0.43 0.43 0.43Samples of split NQ size core, sampled at one m intervals, assayed by fire assay at ALSLaboratories 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-offincluded for continuity.Assays greater than 10 g/t cut to 10 g/t. Grades quoted to two decimal places.Samples followed a chain of custody protocol.
Marc Ducharme, chief exploration geologist of the company, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure relating to the drilling results in this news release.
AboutAmarillo Gold Corp.
Amarillo is developing an open-pit gold resource at its Mara Rosa project in the mining-friendly jurisdiction of Goias state in Brazil. Based on the NI 43-101 prefeasibility study 2018 update filed on SEDAR on Sept. 13, 2018, the Posse deposit at the Mara Rosa project contains estimated 513,000 ounces of gold in the proven category from 9.6 million tonnes at 1.65 g/t Au and 574,000 ounces gold in the probable category from 14.2 Mt at 1.26 g/t Au for total estimated reserves of 1,087,000 ounces from 23.8 Mt at 1.42 g/t Au.
Mike Mutchler, president and chief executive officer of the company, is a qualified person as defined by NI 43-101 guidelines, and has reviewed and approved the scientific and technical disclosure relating to the PFS 2018 in this section of the news release.
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