Amarillo Gold to acquire Rio Tinto Au property
Bnamericas Published: Thursday, September 21, 2006
Toronto's Amarillo Gold (TSX-V: AGC) signed a letter of intent to acquire the Lavras do Sul gold property in Brazil's Rio Grande do Sul state from Anglo-Australian mining group Rio Tinto (LSE: RIO), the former said in a statement. The 9,122ha property has churned out gold off and on since the late 1800s. Exploration by Rio Tinto at Lavras do Sul identified a possible 3Moz in gold deposits, the statement said. Drill results on the property include gold values of 0.75g/t over 175m, 0.87g/t over 181m and 0.93g/t over 184m at the Butiá and Cerrito zones on the property, according to the statement.
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