VANCOUVER, BC -- (Marketwire) -- 10/06/08 -- Amador Gold Corp. (TSX-V: AGX) is pleased to
announce assay results on the Kell Mine property exploration drill program.
The Kell Mine property is located in Corkill Township, approximately 18 km
southeast of Gowganda, Ontario, and hosts silver-cobalt-nickel
mineralization in a series of en-echelon quartz-calcite veins in a
deformation zone averaging three to eight metres wide. The Company
conducted magnetic and electromagnetic surveys across the vein, and drilled
17 holes totalling 2270m, testing the Kell vein along strike and at shallow
depths.
The exploration program successfully identified areas of silver enrichment
along the Kell Mine deformation zone, with drill hole AGKL07-08 returning
2,401 g/t silver over 1.73m, from 36.72m to 38.45m down hole. The silver is
hosted in a quartz-calcite-chlorite vein zone in altered diabase, where
silver is found in both veining and wall rock. The intersection returned a
higher-grade sample of 4,580.4 g/t silver over 0.53m, from 36.72 to 37.25
as well as 3.574.5 g/t silver over 0.40m from 37.25m to 37.65m.
-***-
Drill Hole AGKL07-08
2,401 G/T SILVER OVER 1.73M INCLUDING 0.52M OF 4580.4 G/T
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Drill Hole AGKL07-04
262 G/T SILVER OVER 8.63M INCLUDING 0.92M OF 2410.6 G/T
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Drilling also intersected 262 g/t silver, over 8.63m in drill hole
AGKL07-04, from 57.54m to 66.17m down hole. The silver mineralization is
found in pervasively calcite altered diabase with chlorite in which
veinlets and stringers of calcite-quartz magnetite chlorite up to 36cm in
width host silver-cobalt-nickel mineralization. Native silver grains run to
0.5mm in size, with minor grains of argentite noted as well. This interval
also returned a higher-grade value of 2,410.6 g/t silver over 0.92m from
62.34m to 63.26m down hole. All the silver was within the envelope of
alteration hosted within the envelope of deformation.
"Finding good grade silver in quartz-calcite veins, in the deformation
zone, and in Nipissing diabase wall rock is very encouraging," said Amador
Gold Corp. CEO Richard Hughes, "and we look forward to further detailed
exploration."
Area History
The Kell Mine deformation zone was discovered in 1909. The deformation
zone is hosted in Nipissing diabase, consistent with mineralization at
mines in the Gowganda silver camp, where approximately 60 million ounces of
silver were mined in the early part of the 1900s. In 1920-21, a shaft was
driven to 104 feet, with two exploration levels at the 54-foot and 100-foot
levels. Some 700 feet north of the shaft, a pit was dug, as well as
prospecting pits to the south of the shaft. A small shipment of 1,558 lbs
of rock gave 1,620.9 ounces of silver.
-***-
Complete Assay Results
Drill Hole From To Width Silver Width Silver
(m) (m) (m) (g/t) (ft) oz/T
------------------------------------------------
AGKL07-01 NSV
================================================
AGKL07-02 NSV
================================================
AGKL07-03 77.26 82.80 5.54 5.0 18.2 0.15
================================================
AGKL07-04 57.24 66.17 8.63 262.0 28.3 7.62
including 62.34 63.26 0.09 2410.6 3.0 70.12
================================================
AGKL07-05 50.99 60.23 9.24 12.0 30.3 0.35
including 55.17 58.78 3.61 23.0 11.8 0.67
add 58.08 58.36 0.28 31.0 0.9 0.90
================================================
AGKL07-06 56.99 61.84 4.85 2.0 15.9 0.06
================================================
AGKL07-07 56.05 63.36 7.31 5.0 24.0 0.15
================================================
AGKL07-08 36.72 38.45 1.73 2401.6 5.7 69.85
including 36.72 37.25 0.53 4580.4 1.7 133.23
add 37.25 37.65 0.40 3574.5 1.3 103.97
add 37.65 38.00 0.35 372.2 1.1 10.83
add 38.00 38.45 0.45 370.0 1.5 10.76
================================================
AGKL07-09 62.53 65.34 2.99 15.0 9.8 0.44
================================================
AGKL07-10 54.82 59.08 4.26 136.0 14.0 3.96
and 63.85 68.35 4.50 31.0 14.8 0.90
================================================
AGKL07-11 13.10 23.22 10.12 22.8 33.2 0.66
and 16.57 17.00 0.43 200.2 1.4 5.82
including 19.90 20.15 0.25 55.8 0.8 1.62
including 20.68 21.30 0.62 41.2 2.0 1.20
including 22.73 23.22 0.49 82.1 1.6 2.39
================================================
AGKL07-12 13.19 25.79 12.6 6.0 41.3 0.17
================================================
AGKL07-13 24.36 33.05 8.69 4.1 28.5 0.12
================================================
AGKL07-14 55.84 60.50 4.66 20.0 15.3 0.58
================================================
AGKL07-15 41.97 46.70 4.73 16.0 15.5 0.47
================================================
AGKL07-16 54.10 59.71 5.61 7.0 18.4 0.20
================================================
AGKL07-17 73.60 80.56 6.96 4.0 22.8 0.12
================================================
AGKL07-18 68.19 69.58 1.39 20.0 4.6 0.58
================================================
-****-
-***-
Drill Hole Survey Data
Drillhole Easting Northing Elevation Azimuth Dip Depth(m)
------------------------------------------------------------
AGKL07-01 526559 5261456 413 203 -45.0 150.87
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AGKL07-02 526105 5262104 399 60 -45.7 223.00
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AGKL07-03 526281 5261600 400 59 -45.0 248.00
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AGKL07-04 526303 5261617 407 64 -42.0 125.00
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AGKL07-05 526315 5261596 407 65 -45.0 125.00
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AGKL07-06 526298 5261639 416 59 -45.0 125.00
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AGKL07-07 526270 5261658 411 60 -45.0 124.94
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AGKL07-08 526243 5261714 395 64 43.3 125.00
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AGKL07-09 526311 5261570 419 66.5 -45.0 124.90
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AGKL07-10 526351 5261537 433 60.5 -45.0 123.17
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AGKL07-11 526517 5261411 418 145 -45.0 100.95
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AGKL07-12 526517 5261411 418 120 -45.0 49.84
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AGKL07-13 526520 5261406 414 145 -45.0 49.93
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AGKL07-14 526390 5261512 400 59 -43.0 119.56
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AGKL07-15 526206 5261820 397 60 -45.0 76.67
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AGKL07-16 526413 5261478 416 56.5 43.3 128.80
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AGKL07-17 526300 5261581 402 64.5 -45.0 124.93
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AGKL07-18 526223 5261704 408 51.5 -45.0 124.40
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-****-
The exploration program was conducted by Amador Gold Corp., under the
supervision of Douglas Robinson, P. Eng. Mr. Robinson is the qualified
person for this project. He has read this release and approved its
contents.
Additional Notices
The company has completed an initial evaluation and has decided to
terminate its option agreement related to the Sheridan property.
Further to the Company's private placement news release of September 29,
2008, Amador Gold Corp. (TSX-V: AGX); the financing is amended to consist
of flow-through and non-flow through units priced at $0.10 per unit. Each
of the units will consist of one flow through or 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 a period
of two years at a price of $0.15 per share. In accordance with Exchange
policies, finders' fees may be paid on a portion of the funds raised. The
private placement is subject to regulatory approval.
About Amador Gold
Amador Gold is well positioned to discover and capitalize on world class
gold, silver, platinum, palladium, copper/nickel and diamond deposits.
During the past several years the Company has strategically accumulated
large land packages in existing mining or mineral districts in Ontario
thereby ensuring the Company's assets are entirely within Canada. All of
Amador Gold's properties are close to existing infrastructure and are often
within road access to metallurgical facilities.
CONTACT INFORMATION
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations
(604) 685-2222 or info@amadorgold.com,
or visit our website www.amadorgoldcorp.com for more information.
#711-675 WEST HASTINGS STREET
VANCOUVER, B.C., CANADA V6B 1N2
TELEPHONE: 604-685-2222
FAX: 604-685-3764
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.
Distributed by Filing Services Canada and retransmitted by Marketwire
CONTACT INFORMATION
Corporate Inquiries:
Alan Campbell or Kevin Hull
Investor Relations
(604) 685-2222
Email Contact
www.amadorgoldcorp.com
#711-675 WEST HASTINGS STREET
VANCOUVER, B.C., CANADA V6B 1N2
TELEPHONE: 604-685-2222
FAX: 604-685-3764
WWW.AMADORGOLDCORP.COM
AGORACOM Investor Relations:
Email: Email Contact
Website: http://www.agoracom.com/ir/Amador