Amarillo Gold Corp.

Amarillo Gold Corp.

July 14, 2005 12:06 ET

Amarillo Gold Corp.: Drilling Completed and Samples Sent for Assay at San Antonio Project, Brazil

TORONTO, ONTARIO--(CCNMatthews - July 14, 2005) - Amarillo Gold Corp. (NEX:AGC.H)("Amarillo or the Company") announces that the first phase drill program at the San Antonio project in the Goias State, Brazil has been completed and that the core has been logged and split and samples sent off for assay. The drilling was focused on artesanal mining workings located about 50km east of the municipality of Minacu. The workings are now largely abandoned. The previous miners extracted gold from structurally controlled siliceous zones and quartz veins with disjoint pods of sulphide (pyrite, arsenopyrite, chalcopyrite), hosted in stratiform metamorphosed calcareous shales of Proterozoic age. The miners followed these veins to depth using shafts and adits. The gold was extracted by crushing, gravity separation and amalgam. There are no records of the amount of gold extracted.

The drilling conducted by Amarillo was designed to test the down dip extent of the mineralization that was exploited by the artisans. Four drill holes where completed totaling 416m. Three of these intersected zones of, silification, quartz veins, stockworks and sulphide zones similar to the material exploited by the artisans. In total 207 split core samples and 47 soil and rock chip samples where sent to ALS laboratories in Vancouver, Canada. Assays are awaited.

The San Antonio project is on option from Phelps Dodge Do Brasil Mineracao LTDA. ("Phelps Dodge"). Amarillo can earn 50% by completing 1000m of drilling and spending $US250,000 on the property within the first two years of the option. The agreement with Phelps Dodge also allows for Amarillo to earn up to 100% ownership, by spending $US250,000 a year during years 3, 4 and 5, and producing a feasibility study by the end of year 6. In such a case Phelps Dodge would retain a 2% NSR.


Buddy Doyle, President

Vancouver Office: Suite 2833 Three Bentall Centre
595 Burrard St. PO BOX 49057
Vancouver BC Canada V7X 1C4
Tel: 1-604-689-1799
Fax: 1-604-689-1899

Toronto Office: The Exchange Tower
130 King Street West
Suite 3680, Box 99
Toronto, On. M5X 1B1
Tel: 1-416-304-4209
Fax: 1-416-599-4959

The NEX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Vancouver Office:
    Amarillo Gold Corp.
    Buddy Doyle, President
    (604) 689-1799
    (604) 689-1899 (FAX)