Multi-Metal Company Exploiting Prominent Ontario Regions
Significant new gold discovery on surface at Loveland (11.48 g\t gold) over 400 meters away from the only other known gold zone (6.37 g/t over 8.55 m & 10.39 g/t over 3.1 m)
Amador Gold Corp.
Loveland Property - 35 km northwest of Timmins, Ont.
Minerals: Copper, Nickel
-NEW GOLD discovery on its Loveland Nickel Copper project
-Drill hole LL08-22 intersected 1.41% copper and 0.98% nickel, or 2.39% combined copper-nickel, over a drilled width of 4.0 metres from 488.0 to 492.0 metres. This intersection occurred at about 400 metres vertically below surface and is the deepest intersection to date at Loveland. The combined copper-nickel grades of 2.39% are higher than the previously seen average of approximately 1.41% combined copper-nickel.
-Drillhole LL08-13, collared to intersect the downdip extension of the Cominco Zone, intersected 6.37 g/t Au over a drilled width of 8.55 meters from 383.25 to 391.80 meters
-Amador's first three holes drilled at Loveland --- spanning a strike length of 100 meters --- all intersected nickel-copper mineralization. One of the discovery holes returned three intervals within a 45.0-meter wide zone that averages 0.75% copper and 0.70% nickel from 120.6 to 165.6 meters.
-The discovery was made down-dip of a discovery made by Cominco (now Teck Cominco) in the 1970s, beyond the limits of Cominco's historic resource of 130,000 tons at 0.68% copper and 0.73% nickel. (NOTE: This estimate is non-compliant with NI 43-101 standards and should not be relied upon.)
-The property includes the Hollinger occurrence, drilled prior to 1975, which hosts a historic resource of 442,000 tons of 0.42% copper and 0.71% nickel. (This resource is also non-compliant with NI 43-101 disclosure standards.)
-LL08-05 intersected 0.88% Cu and 0.53% Ni over a drilled width of 22.80 meters (160.30 to 183.10 meters) including 1.0% Cu and 0.65% Ni over a drilled width of 11.20 meters (160.30 to 171.50 meters) and 1.92% Cu and 1.0% Ni over 2.70 meters (180.40 to 183.10 meters).
-LL08-13 intersected gold mineralization near the bottom of the hole and returned 6.37 g/t (grams per tonne) gold over a drilled width of 8.55 meters from 383.25 to 391.80 meters.
-Additional intercepts from Hole LL08-13 include: 6.17 g/t gold over 3.0 meters from 403.0 to 406.0 meters; and 10.39 g/t gold over 3.1 meters from 410.30 to 413.40 meters drilled width.
-Follow-up prospecting has led to a second gold discovery south of the Cominco Zone and about 400 meters southeast of the mineralized intercepts in drill hole LL08-13
-Two separate grab samples taken from an outcrop of granodiorite in this area have returned values of 8.98 g/t gold and 11.48 g/t gold.
Horwood Property - 75 km southwest of Timmins, Ont.
For more information on the Horwood Gold property and to listen to a recent interview with Project Geologist, Peter Caldbick, PGeo, please click on the following link:
-Previous exploration programs had confirmed the presence of both gold and volcanogenic massive sulphide-style (VMS) mineralization at the wholly owned project. Previously reported grab samples from quartz veins within gabbros returned values of 17.30 g/t (grams per tonne) gold, 22.72 g/t gold and 19.68 g/t gold.
Recent trenching and stripping activities have exposed a series of narrow, parallel quartz veins hosted within a granodioritic pluton known as the Horwood Peninsula Pluton (HPP) proximal to a granodiorite mafic metavolcanic contact.
Ajax Property - Strathy: 5 km northwest of Temagami, Ont.
Minerals: Copper, Nickel, Gold, Silver and Platinum Group Metals (PGMs)
- Launched a 4,000-meter drilling program at the Ajax Property in early 2008
- Mine was revived in 1974 and produced 1.39 million pounds of nickel and 3.11 million pounds of copper along with by-product gold, silver and PGMs from 278,263 milled tons to 1976
-Remaining resources are estimated at more than 4 million tonnes at combined nickel copper grades ranging from 0.54% up to 1.42%. These historic estimates are non-compliant with NI 43-101 standards, should not be replied upon, and are provided only to indicate geological potential.