Vancouver, British Columbia CANADA, December 08, 2008 /FSC/ - Amador Gold Corp. (AGX - TSX Venture, ADRGF - OTCBB_Pink_Sheets), (the "Company") is pleased to announce additional results from an exploration program designed to advance historic nickel-copper zones and further define newly discovered gold targets at its Loveland Project in Loveland Township, about 35 kilometers northwest of Timmins, Ontario.
Recent drilling at the Loveland Project has focused on the Cominco Zone, one of two nickel-copper zones with historic resources on the property.
* Drill hole LL08-22 intersected 1.41% copper and 0.98% nickel, or 2.39% combined copper-nickel, over a drilled width of 4.0 metres from 488.0 to 492.0 metres. This intersection occurred at about 400 metres vertically below surface and is the deepest intersection to date at Loveland. The combined copper-nickel grades of 2.39% are higher than the previously seen average of approximately 1.41% combined copper-nickel.
* Another drill hole, LL08-18, collared about 235 metres southwest of drill hole LL08-22, intersected 0.40% copper and 0.80% nickel over a drilled width of 7.0 metres from 66.80 to 73.80 metres. This intercept occurs at about 50 metres vertically below surface and indicates that mineralization may extend to surface.
Exploration and drilling programs at the Loveland Property are continuing to enhance the potential of the historic Cominco Zone, situated 1.5 kilometers from the historic Hollinger Zone.
* The Cominco Zone*, drilled in the 1970s by Cominco (now Teck), contains a historic resource of 130,000 tons grading 0.73% nickel and 0.68% copper that is non-compliant with NI 43-101 disclosure standards.
* The Hollinger Zone*, drilled by Hollinger Mines prior to 1975, hosts a historic resource of 442,000 tons grading 0.71% nickel and 0.42% copper that is also non-compliant with NI 43-101 disclosure standards.
*A qualified person has not done sufficient work to classify the historical estimate as current mineral resources; therefore the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
The complete results of recent drilling at Loveland are listed in the table (Figure 1) below.
PROSPECTING CONFIRMS GOLD TARGETS
The first gold discovery at the Loveland Property was found below the Cominco Zone earlier this year, when Hole LL08-13 returned 6.37 g/t (grams per tonne) gold over a drilled width of 8.55 metres from 383.25 to 391.80 metres, along with additional intercepts.
Prospecting south of the newly discovered Loveland Zone has located gold mineralization similar to that intersected by Hole LL08-13, within granodiorite with quartz stringers and disseminated sulphide mineralization. Two separate grab samples from this area have returned values of 8.98 g\t gold and 11.48 g\t gold.
More drilling is required to determine if the surface discovery represents a new separate zone of mineralization unrelated to the gold mineralization intersected by Hole LL08-13, or is part of a series of en echelon mineralized zones within the granodiorite. (See Figure 2 below.)
Amador's winter drilling program is designed to further test these gold targets while also advancing the historic nickel-copper zones at the Loveland Property. The project is easily accessible and near existing mining and metallurgical infrastructure in the Timmins Camp.
Charles Hartley, P.Geo and Peter Caldbick, P.Geo. are the qualified persons for the purposes of National Instrument 43-101 for Amador's Loveland 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 quality properties of merit in established mining camps and emerging mineral districts of Canada. For further information and maps of the Loveland Property and other active projects please visit the Company's website at www.amadorgoldcorp.com.
Contact Information
Corporate Inquiries:
Alan Campbell or Kevin Hull,
Investor Relations
Phone: (604) 685-2222
Email: info@amadorgold.com
Website: www.amadorgoldcorp.com
AGORACOM Investor Relations: Email: AGX@agoracom.com
Website: http://www.agoracom.com/ir/Amador
Or visit www.smarstox.com/interview/agx to see interviews with company President, Richard Hughes.
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.
Click here to view chart.
