Amador Gold Corp. Acquires Extensive Gold Property in West Timmins Camp Along Destor-Porcupine Fault Zone
15 Diciembre 2009 - 7:30AM
Marketwired
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.
Contacts: Amador Gold Corp. Kevin Hull or Alan Campbell Investor
Relations (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
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