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Amarillo Gold Trenching Results at Posse North Gold Trend

Mining News - Published on Tue, 15 Sep 2020

Image Source: Amarillo Gold Posse North Gold Trend
Amarillo Gold Corporation said that results from a surface exploration program support the theory that there are additional near-surface gold deposits along the Posse North Gold Trend. Since February 2020, surface work at the Company’s Mara Rosa Property in Brazil has focused on trenching and auger drilling to delineate the higher-grade zones of anomalous gold on surface along the trend. The ongoing aim is to identify potentially economic gold deposits that could add to existing resources and reserves, which could enhance the production profile of the Posse Gold Project. Amarillo’s Chief Executive Officer Mike Mutchler said “We are starting to realize the district scale potential of the Posse trend. These exciting results are consistent with the results of our successful November 2019-February 2020 drill program, which showed the potential for satellite gold deposits at Mara Rosa. A new resource would give us the option to extend the planned life of the Posse Mine, expand the plant throughput, or some combination of both. This would significantly increase the project’s expected returns.”

The surface exploration program focused on three targets. Pastinho, Lambari, and Estrela are located 3.5 kilometres, 4.5 kilometres, and 8.0 kilometres northeast of the Posse Gold Deposit along the Posse North Trend.

Posse North is a northeast trending potassium-radiometric anomaly with coincident gold in soil anomalies greater than 50 parts per billion defined by previous work. Structural features found by airborne magnetics were also useful guides for targeting.

A mechanical back-hoe loader dug three-metre-deep trenches generally at every 200 metres. Chip channel samples were taken at one-metre intervals for each trench, which were oriented in a northwest-southeast direction and perpendicular to the main trend of the gold deposits.

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Posted By : Yogender Pancholi on Tue, 15 Sep 2020
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