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Amador Gold Corp.: Amador Gold Corp: Horwood Gold Project Exploration Update

^{Published on 2009-06-24 06:43:10, Last Modified on 2009-06-24 06:44:09 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - Amador Gold Corp. (TSX VENTURE:AGX) (the "Company") is pleased to announce that recent exploration programs have identified the presence of gold mineralization within a variety of structurally controlled geological environments at the Horwood Property situated approximately 75 kilometers southwest of Timmins, Ontario.

Based on results to date, the Company believes the Horwood Property has significant potential to host economic gold mineralization within both altered carbonate-silica-pyrite-rich zones within porphyritic phases of the Horwood Peninsula Pluton (HPP) and quartz veins located close to the HPP in the footwall mafic volcanic flows. The property also hosts VMS-style (volcanogenic massive sulphide) mineralization discovered while testing an airborne VTEM anomaly during the 2008 drilling program.

More than 90% of the Horwood Property is covered by overburden, which hindered exploration efforts during the historic gold-mining boom in the Timmins region. More recent work programs include a 1995 drilling program by Haddington Resources Ltd., which intersected 11.66 grams/tonne gold over 1.45 meters while testing the updip projection of an earlier drill intersection of 1.44 grams/tonne gold over 1.0 meter.

- A Mise A La Masse survey indicates that the gold-sulphide zone intersected by Haddington's previous drilling program trends in a general easterly direction parallel to the local metavolcanic stratigraphy for at least 220 meters. The strike extensions of this zone are yet to be drill tested.

- Two grab samples taken from a trench near these drill holes returned values of 3.33 grams gold per tonne and 3.02 grams gold per tonne respectively. These occurrences suggest that gold mineralization occurs within a variety of environments that are structurally controlled.

Amador's initial exploration efforts at Horwood focused on the Bend and Gabbro Zones discovered in late 2006. More recent sampling programs have revealed the presence of new gold-vein discoveries in close proximity to the Bend Zone.

- Two grab samples spaced five meters apart returned assays of 6.12 grams gold per tonne and 4.92 grams gold per tonne, respectively. These samples were discovered approximately 50 meters east and 100 meters south of drill hole AGX-08-17 which returned an assay of 12.35 grams per tonne gold over 2.4 meters (reported in Feb 29, 2008 press release).

The recently discovered gold showings are described as occurring within a series of stacked en echelon quartz veins. Previous drilling in the area has confirmed the presence of a series of anomalous gold mineralization in mafic flows and mafic intrusives. Within these wide zones are stacked en echelon quartz carbonate veins where gold appears to be more concentrated, however gold mineralization occurs ubiquitously throughout the altered wallrock as well. Recent sampling to the south indicates that gold mineralization at Horwood may be more widespread than previously thought.

Amador plans to continue trenching and/or drill-testing the gold-bearing zones on strike and at depth in order to identify higher concentrations of gold in high-grade shoots or extensive low-grade zones amenable to open-pit mining. Along with the newly discovered gold showings, the Gabbro and Bend Zones remain important exploration targets as gold mineralization has not been tested at depth on either of these zones.

Ongoing exploration will be guided by a newly revised structural interpretation of the Horwood Peninsula, which proposes that a number of gold occurrences in the area may be linked to dilatent fracture systems within large-scale fold noses.

The Company is currently compiling information and will be releasing a summary map and diagram of the Horwood Gold Project on its website in the near future.

Charles Hartley, P.Geo and Peter Caldbick, P.Geo. are the qualified persons for the purposes of National Instrument 43-101 for the Company's Horwood Project. Project supervision is by Charles Hartley and the contents of this news release has been reviewed and approved by Peter Caldbick.

About Amador Gold

Amador has assembled a portfolio of more than 20 properties of exceptional merit in established mining camps and emerging mineral districts of Canada, including the Loveland gold-copper-nickel project which recently completed its spring drill program.

For information on active projects and to see Smartstox interviews with Company president, Richard Hughes, please visit the Company's website at [ www.amadorgoldcorp.com ].

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.