AMADOR GOLD CORP. ANNOUNCES RESULTS FROM PHASE ONE OF HORWOOD DRILL PROGRAM, PLANS PHASE TWO
- DRILLING INTERSECTED A NUMBER OF MINERALIZED ZONES THROUGHOUT A LARGER QUARTZ FELDSPAR PORPHYRY
- NEW GEOPHYSICAL DATA AVAILABLE FOR RHB ZONE (PREVIOUS GRAB SAMPLES AS HIGH AS 183.5 G/T GOLD) - A NUMBER OF HIGH-PRIORITY RHB ZONE TARGETS HAVE NOW BEEN IDENTIFIED FOR PHASE TWO DRILLING
- BEND ZONE EXTENDED TO DEPTH; SILICIFIED SHEAR ZONE WITH ANOMALOUS GOLD VALUES EXTEND FAVOURABLE STRUCTURE TO DEPTH
- DRILLING AT LOVELAND PROPERTY CURRENTLY UNDERWAY
"We are happy to report the initial results from the latest drilling on the Horwood Gold Project. Our top priority continues to be the high-grade RHB zone, for which we have new geophysical data to aid in the preparation of the next drill program," comments Company President, Richard Hughes. "A number of targets have since then been identified and will be tested in the upcoming second phase of drilling."
Highlights from the 14 drill hole 1900 meter drill program completed during November and December 2009 include 9.93 g\t gold over 0.50m in drill hole H09-04and 4.89 g\t gold over 0.80m in drill hole H09-06 from the Labbe zone. Earlier grab samples from the Labbe #1 Zone has returned two samples with assays of 28.8 g/t and 26.4 g/t gold. A full table of results is available at the end of the release as well as on the Company's website.
Diamond drilling below an earlier intersection of 12.35 g\t gold over 2.4 meters intersected 1.42 g\t gold over 0.9m,from 204.20 to 205.10 meters and 1.71 g/t over 0.4 meters from 154.30 to 154.70 meters. Both intercepts occur within silicified shear zones. 2008 diamond drilling from AGX-12 within the Gabbro Zone intersected visible gold in a narrow quartz vein and returned 29.4 g\t gold over 0.4m from 24.0 to 24.4m.
Soil gas and MMI test geochemical surveys completed over the Haddington and Labbe showings returned anomalous gold indicators. The porphyry intersected in the Labbe zone possesses widespread, anomalous gold values. A compilation of all drilling down on the Labbe zone is underway to evaluate the structure controlling gold mineralization.
RHB Zone Update:
Geophysical surveys have been completed over the RHB zone. Magnetic VLF-EM and induced polarization (IP) surveys completed and are currently being evaluated and have already identified numerous drill targets. An IP survey has located other anomalies which may host favourable structures mineralization. The geophysical surveys as well as the geochemical survey are also being evaluated for potential targets. The Company expects to release proposed drill plans for the RHB zone in the near future.
A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ size drill core are sawed in half, with one-half sent to a commercial laboratory and the other half retained for future reference. Core samples are routinely analyzed for gold using standard fire assay using 30 gram aliquot with atomic absorption finish.
Peter Caldbick, P.Geo., and Charles Hartley, P.Geo. are the qualified people for the purposes of National Instrument 43-101 for the Company's Horwood Project. Project supervision is by Charles Hartley and the contents of the press release have 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. These projects include the Loveland gold-copper-nickel project program and the Horwood gold project.
Contact Information
Corporate Inquiries: Kevin Hull or Alan Campbell, Investor Relations
Phone: (604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Horwood Project 2009 Diamond Drilling (assays greater than 1.0 g/t Gold)
| Hole No | from | to | length | g\t Gold | Comments |
| H09-01 | 154.30 | 154.70 | 0.40 | 1.71 | Bend Zone, silicified shear zone |
| H09-01 | 204.20 | 205.10 | 0.90 | 1.42 | Bend Zone, silicified shear zone |
| H09-04 | 67.80 | 68.40 | 1.00 | 1.19 | Labbe Zone,silicified QFP |
| H09-04 | 37.90 | 38.40 | 0.50 | 9.93 | Labbe Zone,silicified QFP |
| H09-04 | 47.90 | 48.90 | 1.00 | 1.14 | Labbe Zone,silicified QFP |
| H09-04 | 50.80 | 51.50 | 0.70 | 4.57 | Labbe Zone,silicified QFP |
| H09-05 | 66.80 | 67.20 | 0.40 | 1.08 | Labbe Zone,silicified QFP |
| H09-06 | 14.50 | 15.20 | 0.70 | 1.11 | Labbe Zone,silicified QFP |
| H09-06 | 40.70 | 41.80 | 0.90 | 1.34 | Labbe Zone,silicified QFP |
| H09-06 | 45.20 | 45.80 | 0.60 | 1.28 | Labbe Zone,silicified QFP |
| H09-06 | 49.70 | 50.10 | 0.40 | 1.12 | Labbe Zone,silicified QFP |
| H09-06 | 79.20 | 80.00 | 0.80 | 4.89 | Labbe Zone,silicified QFP |
| H09-07 | 72.00 | 73.00 | 1.00 | 1.29 | silicified, Quartz veining, IP anomaly |
| H09-07 | 73.00 | 74.00 | 1.00 | 1.44 | silicified, Quartz veining, IP anomaly |
| H09-09 | 21.30 | 22.30 | 1.00 | 1.07 | silicified, Quartz veining, IP anomaly |
| H09-09 | 27.30 | 28.30 | 1.00 | 1.23 | silicified, Quartz veining, IP anomaly |
| H09-12 | 73.60 | 74.10 | 0.50 | 1.52 | silicified, Quartz veining, IP anomaly |
| H09-12 | 75.00 | 75.90 | 0.90 | 1.01 | silicified, Quartz veining, IP anomaly |
| H09-14 | 28.90 | 29.90 | 1.00 | 1.11 | silicified, Quartz veining, IP anomaly |
| H09-14 | 86.20 | 86.60 | 0.40 | 1.95 | silicified, Quartz veining, IP anomaly |
AMADOR GOLD CORP. ANNOUNCES STOCK OPTIONS
The Company also announces the resignation of John Keating as a director effective January 22, 2010. The Board of Directors expresses their thanks and appreciation to Mr. Keating for his invaluable contribution and service to the Company.
The Company also announces that it has assessed the merits of the East Breccia property and has determined not to proceed further with it at this time.
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. These projects include the Loveland gold-copper-nickel project program and the Horwood gold project.
Contact Information
Corporate Inquiries: Kevin Hull or Alan Campbell, Investor Relations
Phone: (604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release
AMADOR GOLD CORP. COMMENCES DRILLING ON LOVELAND GOLD/COPPER/NICKEL PROJECT WEST OF TIMMINS
• ALL KNOWN MINERALIZED ZONES ON THE PROPERTY HAVE COINCIDING VTEM CONDUCTORS
• 30 OF 33 CONDUCTORS IDENTIFIED IN 7 KM AREA HAVE NOT BEEN DRILL TESTED
• PROPERTY CONTAINS TWO HISTORIC, NON 43-101 NICKEL/COPPER RESOURCE ESTIMATES
VANCOUVER, BC - Amador Gold Corp. (TSX-V: AGX) (the "Company") is pleased to announce it has commenced diamond drilling on its wholly owned Loveland Property, located approximately 35 kilometers northwest of Timmins, Ontario. The initial program consists of approximately 1500 meters of diamond drilling on a number of VTEM targets with similar characteristics to those associated with the historic Hollinger and Cominco Zones.
The Cominco Zone contains a non-compliant NI 43-101 resource of 130,000 tons grading 0.68% Ni and 0.73% Cu and is located approximately 1.5 km northwest of the Hollinger Zone which contains a non-compliant 43-101 resource of 422,000 tons grading 0.71% Ni and 0.42% Cu.
To view a map of the Loveland Property showing VTEM anomalies and target locations please click on the following link:
http://www.brmstatpack.com/track/1001/1005
On May 21, 2009 the Company announced results on drilling of VTEM conductor clusters similar to those found above the Cominco Zone and Hollinger Zones. Conductor B had an intercept of 1.02% combined Ni/Cu over 5.4 meters and Conductor C returned anomalous nickel and copper values. Both clusters remain open downdip and on strike.
A qualified person has not done sufficient work to classify the Cominco and Hollinger historical estimates as current mineral resources. The Company is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon.
Peter Caldbick, P.Geo. is the qualified person for the purposes of National Instrument 43-101 for the Company's Loveland Project. The technical 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. These projects include the Loveland gold-copper-nickel project program and the Horwood gold project.
Contact Information
Corporate Inquiries: Kevin Hull or Alan Campbell, Investor Relations
Phone: (604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
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.
AMADOR GOLD CORP. INCREASES PRIVATE PLACEMENT
The financing consists of flow through or non-flow through units priced at $0.08. Each of the flow-through units consists of one flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.10 per share. Each of the non flow-through units consists of one non flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for five years at a price of $0.10 per share in years one and two, $0.15 per share in year three and $0.20 per share in years four and five. In accordance with Exchange policies, finders' fees may be paid on the funds raised.
Proceeds from the private placement will be used for exploration expenditures on the Company's Ontario mineral properties as well as for general working capital.
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. These projects include the Loveland gold-copper-nickel project program and the Horwood gold project.
Contact Information
Corporate Inquiries: Kevin Hull or Alan Campbell, 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.
AMADOR GOLD CORP. ANNOUNCES PRIVATE PLACEMENT
Proceeds from the private placement will be used for exploration expenditures on the Company's Ontario mineral properties as well as for general working capital.
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. These projects include the Loveland gold-copper-nickel project program and the Horwood gold project.
Contact Information
Corporate Inquiries: Kevin Hull or Alan Campbell, 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.