Amarillo gold commences pre-feasibility update at mara rosa project – junior mining network

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jan. Silver chart 5 year 9, 2017) – Amarillo Gold Corp. European stock market futures (TSX VENTURE:AGC) (“Amarillo”) is pleased to announce that it has commenced an update of the 2011 Pre-Feasibility Study (PFS) on the Posse deposit at its Mara Rosa Project in central Brazil.

The PFS update will be done NI 43-101 in accordance to NI 43-101 guidelines and based on the recent resource estimate (News Release July 21, 2016). Love quotes for boyfriend SRK Consulting (“SRK”) has been selected to carry out the study, using their Belo Horizonte based team.


Fraction operations ONIX Engineering & Consulting also base in the Belo Horizonte area have been retained to provide cost estimations on the equipment and plant.

Since the PFS on Posse by Coffey Mining (News Release Nov 28, 2011) a number of criteria have changed which the Company considers warrant an updated economic model. Cnn pre stock market futures In addition to renewing external inputs SRK will include a recalculation of the reserve figure given that the resource update increased the combined measured and indicated ounces and the Pit shape will differ due to changes of the pit slope based on the 2013 geotechnical study and other factors. Free format converter Optimization studies will also be carried out, using various equipment types, scheduling and stockpiling scenarios.

Table one summarizes some of the key factors that need to be considered for the new study and how they compare to 2011. Binary to words Some will be positive like the USD:BRL exchange rate and steeper footwall slopes in the planned pit, other factors such as the need to line the tailings dam and higher energy prices will increase costs, whereas the gold price has remained fairly neutral. Euro usd converter We await the results of this study to see how all these factors effect the overall economic model.

New resource statement released September 27 th 2016 by Keith Waterhouse QP prepared in accordance to NI 43-101 compared to the Resource announced in the 2011 PFS by the same QP.

The authorities have requested the tailings facility should be lined as part of the Preliminary License, (LP) this will increase the capital expenditures compared to 2011

SRK have indicated that the base case gold price to be used in the updated economic model will remain at US$1,200 per ounce, this will allow easy comparison between the studies, likewise a spread of gold prices will be given in a sensitivity analysis similar to the 2011 PFS. Fraction calculator online free The same mill throughput of 2.5 million tonnes a year will also be used.

After release of the PFS update, expected in the first quarter of 2017, SRK will be retained to evaluate further measures to reduce CAPEX such as using a smaller plant throughput or staged builds, after which time Amarillo will seek tenders to engineering consulting firms to complete as feasibility study.

This release has been in reviewed and accepted for its technical content by the Qualified Person for the Company, Frank Baker, a metallurgist with over 40 years experience, and a member of the AusIMM and IOM3.

Amarillo Gold Corp. World market futures live is focused on acquisition, discovery, and definition of gold resources in Brazil. Equity meaning of It is the Company’s policy to strive to do this in a sustainable, safe way using best practices whilst benefiting our shareholders and the communities we work in. Binary definition The Company’s principal projects are the Mara Rosa Project in the state of Goias, and the Lavras do Sul Project in the state of Rio Grande do Sul. Exchange rate aus to us The Posse Deposit at Mara Rosa contains 8.887MT @ 1.98 g/t Au Measured, 13.149MT @1.53 g/t Au Indicated and 7.119MT @ 1.26 g/t Au Inferred. Inr to usd today (A NI 43-101 resource as independently determined by Australian Exploration Field Services Pty. Flower quotes tumblr Keith Whitehouse QP July 2016). Usd to cad The Mara Rosa Gold Project has received a positive economic assessment from a Pre-Feasibility study and Amarillo has obtained the LP, the first stage of a three stage permitting process. Usd to cny The Posse Deposit was successfully mined by Western Mining Corporation (WMC) during the 1990s (mined areas are excluded from the above-stated resource figures), and is located in an area of excellent infrastructure: approximately 35 km NE of Yamana’s Chapada open pit Cu-Au operation, some 80 km NE of Yamana’s Pilar Au project (in feasibility), 95 km NW of Votorantim’s Niquelandia Ni laterite mine, 105 km from NE of Serra Grande’s underground Au mine, and 105 km NNW of Anglo American’s Ni laterite project at Barro Alto.

The Lavras do Sul Project is an advanced exploration stage property (190 sq. Us market futures bloomberg km.) comprising of more than 19 prospects centered on historic gold workings, with encouraging gold mineralization discovered and defined by more than 16,000 meters of drilling. Usd to rupee exchange rate today The initial resource estimate at the Butia prospect reported 215,000 ounces of gold Indicated from 6.4 MT at 1.05 g/t Au, 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 in a NI 43-101 resource as independently determined by Atticus Consulting in 2010, Anthony Amberg, QP. Inr to usd Lavras do Sul is also located near excellent infrastructure. Usd trend 2016 The Company also has a portfolio of earlier stage projects and all properties under Amarillo’s management are located in areas of good infrastructure and mining-friendly communities.


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