Company Profile: Amarillo Gold Corp

June 7, 2019

Amarillo Gold Corp


Taking a quick look at a mining company which has been in the news recently. 

Amarillo Gold Corp is a Toronto-based gold mining company. They are currently developing two projects in Brazil. An open pit gold resource of 1.27Moz g/t – Mara Rosa, and an advanced exploration project of more than 22 prospects called Lavras do Sul.

Mara Rosa

Mara Rosa Posse cross section looking north.

The Mara Rosa Project is a greenstone belt, shear hosted meso-thermal gold mineralized system of Neo-Proterozoic age located near the village of Mara Rosa in the state of Goias.

Regional Geology
Great future potential for further exploration steps along 12km trend at Mara Rosa.
  • A September 2018 pre-feasibility study using a gold price of £1300,modelled 24m tonnes of reserves at 1.42 g/t for 1.1M ozs.
  • A 15,000m drilling programme was completed in February 2019.
  • Applying for License to Install which is expected mid 2019.
  • Expected to be shovel ready in 2020.
  • The project encompasses aproximately 60,000 hectares of exploration permits and 2,600 hectares of mining permits.
  • Geological, aeromagnetic and ternary radiometric maps illustrate the litho-structural setting host to several existing and historical gold mines across the land package.
  • Several gold soil anomalies along strike from existing and historical gold mines across the land package.

Lavras do Sol Project

Digital elevation in grey, roads in black. Colour image: airborne magnetics showing geology and structure.
  • The project encompasses some 19,000 hectares of exploration permits and private mineral holdings.
  • 100 km perimeter trend along granite intrusion 11 km in diameter host to over 22 gold targets
  • Soil sampling and geological mapping on 22K hectares of exploration concessions ongoing
  • Completed an airborne magnetic survey on Butiá, Caneleira and Matilde targets in December 2018
  • Initiating an environmental baseline study at Butiá property for application for mining concession
  • 3K meter drilling program planned for Butiá, Caneleira, Matilde and Valdo Teixeira in 2019


YouTube video

The company recently overhauled their board, so a more experienced team is now in place.

The shareholder structure is well-balanced, with the board and management holding 9%, institutional investors on 54% and high net worth on 17%

What we like about Amarillo Gold

They are due to close a first tranche of a private placement for $5.1 million to fund the next stage of their projects.

The plan – being focussed on the Mara Rosa project, then to use cash flow from that project to develop Lavras do Sul.

They’re well placed to take advantage of a strengthening gold price as they bring their Mara Rosa project up to production.

Their share price seems very low when compared to their peers.

Find out more at

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MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR