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Message: NR from 5/10...Peru lost
May 10, 2011 (TheNewswire.ca) --
Rancho Santa Margarita, CA, May 10, 2011 - Amarok Resources Inc. (OTCBB: AMOK) Amarok Resources Inc. (the "Company" or "Amarok") updates shareholders on company activities.
Rodeo Creek Gold property, Nevada: The company previously announced drilling had resumed on its Rodeo Creek project however wet spring break up conditions have slowed progress. Current weather conditions show a marked improvement and the company expects to to complete hole AMK 10-04 in the coming weeks. The objective of AMK10-04 is to test the potential for a deep-seated high-grade auriferous structure believed to be the source of gold mineralization found at shallow depth in the nearby Flower area. Upon completion of AMK 10-04, drilling will begin on the second hole of this phase, AMK 11-05. AMK11-05 will be an offset of AMK10-02 which was drilled in 2010 in the southwest portion of the property. AMK11-05 is a follow up hole located southwest of the more than 400ft of silicified Popovich Formation found in AMK10-02. Silicified Popovich Formation is one of the main hosts for gold mines along the Carlin Trend.
The Rodeo Creek property is located in the northern portion of the prolific gold-producing Carlin Trend which hosts as many as 30 past and currently producing gold mines, on which more than 100 million ounces of gold production and inventory had been identified to 2003, including the world class Goldstrike, Meikle and Carlin mines.
McNeil Property, Ontario Canada: The company is in the final stages of completing the transfer and closing documents with Warrior Ventures for the acquisition of the McNeil property. The company intends to implement an aggressive exploration and development program on the property over the summer months. The McNeil Gold Property includes 256 claim units, approximately 10,100 acres (4100 hectares), and consists of numerous high-grade shafts and past showings along with many new discoveries made through past work programs. Throughout the approximate 5.2 mile by 3.7 mile McNeil property, there are extensive gold mineralization occurrences and zones. The Isadore-MicMac zone covers an area of 1.2 miles by 0.6 miles and has numerous gold showings. Given the size and extent of the Isadore-MicMac zone, the potential exists for a large tonnage, "Super-Pit" style gold enrichment similar to those being currently mined near Timmins Ontario such as the Porcupine Gold Mines. Porcupine Gold Mines is owned by GoldCorp (NYSE:GG) and consists of the Hoyle Pond and Dome underground mines.
Cueva Blanca Peru: The company received notification from St. Elias in late April, 2011 that it had terminated the letter agreement entered in to between the parties dated April 16, 2010. Amarok has been working towards the signing of a formal operating agreement on this property over the past year. The company is currently considering its options surrounding this situation.
Amarok Resources is a US based exploration and development Company, focusing on the acquisition and development of Gold and Silver projects which demonstrate high probability for near term production. Amarok is a fully reporting public company quoted on the OTCBB under the symbol AMOK.
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