Amarillo Gold Corporation is a development-stage mining company that engages in acquiring and exploring gold properties in Brazil.
The company operates Lavras do Sul and Posse Gold Projects, with a production capacity of 100,000 ounces per year, the firm claims. These properties are located in central and southern Brazil.
The mining firm claims that gold properties have been mined in Brazil for several years with the region contributing at least 35,687 arrobas of gold till date.
In addition, Amarillo Gold claims that Brazil is the twelfth largest economy globally, dominated by various industries like clean energy, food, mining, agricultural, steel, and oil and gas.
Amarillo Gold’s portfolio also consists of two development projects: Mara Rosa and Posse Gold Project.
Mara Rosa Project-
As the name suggests, the project is located in Mara Rosa Goiás State, central Brazil. It also hosts Posse Gold Project and is covered in 67,371 hectares. The company is engaged in discovery of satellite deposits and extending the mine life.
The project covers Eastern Greenstone Belt and some portion of Central and Western belts in the region, the mining firm claims.
The company aims to discover gold deposits that could extend Posse’s mine life and can be added to its existing resources and reserves. The property hosts two drilled holes, namely LMR007A, with a depth of 18.7 meters and 20P109 with a depth of 11 meters.
The Brazil-focused firm says that Pastinho property has geological resemblances with the Posse project and is located northeast of the Posse Deposit. The 6,000-hectare property hosts several gold mineralization exploration deposits.
Posse Gold Project
The company aims to develop Posse Gold Project which will use conventional open-pit, carbon-in-leach and dry stack tailings methods.
Through the project, the firm aims to achieve an annual production capacity of 84,000 ounces of gold, with nearly 102,000 ounces per year in the starting four years.
Lavras do Sul
It is an exploration project located in southern Brazil’s Rio Grande state. The 22,000-hectare project hosts epithermal gold mineralization deposits and also consists of 22 exploration targets.
The company claims to have completed a UAV magnetic survey, diamond drilling program, and polarization geophysical survey at the Lavras do Sul Project. In addition, the firm has completed its exploration and three drill campaigns in Butia, located in Lavras do Sul town.