TSX-V
AGX.V
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Horwood Project Update
Publié le 26 juin 2009
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Re: News Releases - Wednesday, June 24, 2009
AMADOR GOLD CORP: HORWOOD GOLD PROJECT EXPLORATION UPDATE
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.. NEW GOLD VEIN DISCOVERIES IN CLOSE PROXIMITY TO BEND ZONE
VANCOUVER, BC -- Amador Gold Corp. (TSX-V:AGX) (the "Company") is
pleased to announce that recent exploration programs have identified
the presence of gold mineralization within a variety of structurally
controlled geological environments at the Horwood Property situated
approximately 75 kilometers southwest of Timmins, Ontario.
Based on results to date, the Company believes the Horwood Property has
significant potential to host economic gold mineralization within both
altered carbonate-silica-pyrite-rich zones within porphyritic phases of
the Horwood Peninsula Pluton (HPP) and quartz veins located close to
the HPP in the footwall mafic volcanic flows. The property also hosts
VMS-style (volcanogenic massive sulphide) mineralization discovered
while testing an airborne VTEM anomaly during the 2008 drilling
program.
More than 90% of the Horwood Property is covered by overburden, which
hindered exploration efforts during the historic gold-mining boom in
the Timmins region. More recent work programs include a 1995 drilling
program by Haddington Resources Ltd., which intersected 11.66
grams/tonne gold over 1.45 meters while testing the updip projection of
an earlier drill intersection of 1.44 grams/tonne gold over 1.0 meter.
.. A Mise A La Masse survey indicates that the gold-sulphide zone
intersected by Haddington's previous drilling program trends in a
general easterly direction parallel to the local metavolcanic
stratigraphy for at least 220 meters. The strike extensions of this
zone are yet to be drill tested.
.. Two grab samples taken from a trench near these drill holes returned
values of 3.33 grams gold per tonne and 3.02 grams gold per tonne
respectively. These occurrences suggest that gold mineralization occurs
within a variety of environments that are structurally controlled.
Amador's initial exploration efforts at Horwood focused on the Bend and
Gabbro Zones discovered in late 2006. More recent sampling programs
have revealed the presence of new gold-vein discoveries in close
proximity to the Bend Zone.
.. Two grab samples spaced five meters apart returned assays of 6.12
grams gold per tonne and 4.92 grams gold per tonne, respectively. These
samples were discovered approximately 50 meters east and 100 meters
south of drill hole AGX-08-17 which returned an assay of 12.35 grams
per tonne gold over 2.4 meters (reported in Feb 29, 2008 press
release).
The recently discovered gold showings are described as occurring within
a series of stacked en echelon quartz veins. Previous drilling in the
area has confirmed the presence of a series of anomalous gold
mineralization in mafic flows and mafic intrusives. Within these wide
zones are stacked en echelon quartz carbonate veins where gold appears
to be more concentrated, however gold mineralization occurs
ubiquitously throughout the altered wallrock as well. Recent sampling
to the south indicates that gold mineralization at Horwood may be more
widespread than previously thought.
Amador plans to continue trenching and/or drill-testing the
gold-bearing zones on strike and at depth in order to identify higher
concentrations of gold in high-grade shoots or extensive low-grade
zones amenable to open-pit mining. Along with the newly discovered gold
showings, the Gabbro and Bend Zones remain important exploration
targets as gold mineralization has not been tested at depth on either
of these zones.
Ongoing exploration will be guided by a newly revised structural
interpretation of the Horwood Peninsula, which proposes that a number
of gold occurrences in the area may be linked to dilatent fracture
systems within large-scale fold noses.
The Company is currently compiling information and will be releasing a
summary map and diagram of the Horwood Gold Project on its website in
the near future.
Charles Hartley, P.Geo and Peter Caldbick, P.Geo. are the qualified
persons for the purposes of National Instrument 43-101 for the
Company's Horwood Project. Project supervision is by Charles Hartley
and the contents of this news release has been reviewed and approved by
Peter Caldbick.
About Amador Gold
Amador has assembled a portfolio of more than 20 properties of
exceptional merit in established mining camps and emerging mineral
districts of Canada, including the Loveland gold-copper-nickel project
which recently completed its spring drill program.
For information on active projects and to see Smartstox interviews with
Company president, Richard Hughes, please visit the Company's website
at www.amadorgoldcorp.com.
Contact Information
Corporate Inquiries: Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
AGORACOM Investor Relations:
Email: AGX@agoracom.com
Website: http://www.agoracom.com/ir/Amador
The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
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Copyright (c) 2009 AMADOR GOLD CORP. (AGX) All rights reserved. For
more information visit our website at http://www.amadorgoldcorp.com/ or
send mailto:info@amadorgoldcorp.com
Message sent on Wed Jun 24, 2009 at 6:52:19 AM Pacific Time
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