Amador Gold Corp. Acquires Extensive Gold Property in West Timmins Camp Along Destor-Porcupine Fault Zone
- Tionaga Gold Property Over 14 Km In Length And Is Contiguous With Company's Horwood Property Where Drilling On Gold Targets Is Currently Underway
- Recent Surface Work On Adjacent Horwood Property Returned Grab Sample Assays As High As 183.5 G/T Gold
- Property Located Approximately 65 Km Southwest Of Lake Shore Gold Discovery Of 12.75 G/T Gold Over 83.4 Meters, Along Porcupine Destor Fault Zone
- Property Covers Prospective Ground Between Past-Producing Tionaga And Orofino Gold Mines
VANCOUVER, BRITISH COLUMBIA--(Dec. 15, 2009) - Amador Gold Corp. (TSX VENTURE:AGX) (the "Company") is pleased to announce, subject to regulatory approval, the acquisition of a 100% interest in the Tionaga property. The Tionaga is the Company's tenth gold project located within the Timmins/West Timmins district.
To view a map of the recently acquired Tionaga Gold property in the West Timmins district please click on the following link or cut and paste the link into your web browser:
http://media3.marketwire.com/docs/tw_map_1215.pdf
"The Tionaga property is an important addition to the Company's extensive gold project portfolio and we look forward to advancing it alongside our Horwood Gold project. Surface work on Horwood has been extremely successful with the discovery of a number of high-grade gold zones, a number of which are currently being tested with diamond drilling. We will be using a similar exploration model as we commence Tionaga's initial work program," comments Company President, Richard Hughes. "Over the past year Amador has been strategically expanding its presence in the West Timmins district, focusing on land along the Destor Porcupine Fault Zone, to increase the Company's exposure to precious metals. Given the number of active projects, we anticipate 2010 to be an exciting year for the Company."
Current Drilling:
Drilling recently commenced on the Company's Horwood Gold project, adjacent to the Tionaga property and the Maskooch Gold/VMS project, located in northwestern Ontario. Drilling is scheduled to begin shortly on the Loveland Gold/Copper/Nickel project located approximately 35 northwest of Timmins, Ontario.
The Tionaga property consists of 14 claims (152 units) in Horwood and Silk Townships, Porcupine Mining Division, adjacent to our Horwood Gold property which we are currently drilling. The property is accessible by road and is approximately 95 km southwest of Timmins. The property occurs along what may be a splay off the prolific gold-bearing Destor Porcupine Fault Zone ('DPFZ'). The DPFZ hosts the world famous Timmins gold camp as well as other gold deposits in the Harker-Holloway area of Ontario.
Consideration for the property consists of $100,000 and 1,000,000 shares, payable over 36 months. There is a 3% net smelter return payable. Up to 1.5% of the NSR may be purchased for $1,000,000 for each 0.5% interest, to a total of $3,000,000 for a 1.5% interest.
About Amador Gold
Amador Gold Corp is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
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.
Visit Amador Gold Corp's web-site: www.amadorgoldcorp.com to see Smartstox interviews with Company Chairman and President, Richard Hughes.
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.
For more information, please contact
Amador Gold Corp.
Kevin Hull or Alan Campbell
Investor Relations
(604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
Or
AGORACOM Investor Relations
Email: AGX@agoracom.com
Website: http://www.agoracom.com/ir/Amador
