VANCOUVER, BC, Oct 06, 2008 (MARKET WIRE via COMTEX News Network) --
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 ----------------------------------------------------------- Drill Hole AGKL07-04 262 G/T SILVER OVER 8.63M INCLUDING 0.92M OF 2410.6 G/T ----------------------------------------------------------- -****-
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
------------------------------------------------------------
AGKL07-02 526105 5262104 399 60 -45.7 223.00
------------------------------------------------------------
AGKL07-03 526281 5261600 400 59 -45.0 248.00
------------------------------------------------------------
AGKL07-04 526303 5261617 407 64 -42.0 125.00
------------------------------------------------------------
AGKL07-05 526315 5261596 407 65 -45.0 125.00
------------------------------------------------------------
AGKL07-06 526298 5261639 416 59 -45.0 125.00
------------------------------------------------------------
AGKL07-07 526270 5261658 411 60 -45.0 124.94
------------------------------------------------------------
AGKL07-08 526243 5261714 395 64 43.3 125.00
------------------------------------------------------------
AGKL07-09 526311 5261570 419 66.5 -45.0 124.90
------------------------------------------------------------
AGKL07-10 526351 5261537 433 60.5 -45.0 123.17
------------------------------------------------------------
AGKL07-11 526517 5261411 418 145 -45.0 100.95
------------------------------------------------------------
AGKL07-12 526517 5261411 418 120 -45.0 49.84
------------------------------------------------------------
AGKL07-13 526520 5261406 414 145 -45.0 49.93
------------------------------------------------------------
AGKL07-14 526390 5261512 400 59 -43.0 119.56
------------------------------------------------------------
AGKL07-15 526206 5261820 397 60 -45.0 76.67
------------------------------------------------------------
AGKL07-16 526413 5261478 416 56.5 43.3 128.80
------------------------------------------------------------
AGKL07-17 526300 5261581 402 64.5 -45.0 124.93
------------------------------------------------------------
AGKL07-18 526223 5261704 408 51.5 -45.0 124.40
------------------------------------------------------------
-****-
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
Email Contact
www.amadorgoldcorp.com