Amarillo Engages Whittle Consulting for Mara Rosa Gold Project Optimisation Study
January 31 2018 - 12:01AM
Amarillo Gold Corporation (“
Amarillo” or the
“
Company”) (TSX.V:AGC), is pleased to
announce that it has engaged Whittle Consulting (WCPL) to conduct
an Enterprise Optimisation study for the Company’s flagship Mara
Rosa Gold Project in Brazil.
WCPL’s technical experts plan to model the
complete value chain of the Mara Rosa Project. Their internal
proprietary optimisation tool will then be used to maximise the
flow of net cash through the bottleneck(s) in the system, to
generate life-of-mine business plans that excel in terms of
economic value and any other strategic imperatives including
social, political and environmental considerations. WCPL has
demonstrated in many such studies that the comprehensive
application of their “Whittle Integrated Strategic Planning”
approach and concepts can yield improvements in Net Present Value
(NPV) of 5% - 35% or substantially more in any mine, even when a
number of conventional optimisation approaches have already been
applied.
Mr. Rolly Uloth, Executive Chairman, commented,
“WCPL identified the Mara Rosa Gold Project as an ideal candidate
to apply their methods and proprietary software and we are hopeful
that their study will generate additional NPV at the Mara Rosa Gold
Project as demonstrated at other mines. This study marks the first
step in a series of initiatives that we are planning for Mara Rosa
including a Feasibility Study leading up to the application for the
Installation Permit (LI).”
We will be touring major cities to introduce our
new President & CEO, Mr. Mike Mutchler. We will be visiting the
following cities:Vancouver, January 31, 2018London, February 5 and
6, 2018 Zurich, February 7, 2018.
If you are interested in meeting Mr. Mutchler,
please email us to schedule a meeting to hear the strategy for
Amarillo.
ABOUT
AMARILLO
Amarillo is developing a highly economic, open
pit gold resource at its Mara Rosa deposit in the mining friendly
jurisdiction of the Goias State in Brazil. In addition, Amarillo
has an advanced exploration project with excellent grades at Lavras
do Sul, also in Brazil. Both projects have excellent nearby
infrastructure. The Mara Rosa project was awarded the main permit
(LP) that gives social and environment permission to mine. This has
allowed Amarillo to move forward and work on the installation
permit (LI).
For further
information, please
contact:
Mike Mutchler President &
CEO416-294-0736mike.mutchler@amarillogold.com
or
Karen MateConsultant416-230-6454karen.mate@amarillogold.com
32 Richmond St. East Suite 201 Toronto, ON Canada, M5C
1P1Website: www.amarillogold.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING STATEMENTS: -
This news release contains Forward Looking
Statements regarding our intentions and plans. Forward Looking
Statements in this news release include that our projects have
potential for commercialization. Various factors may prevent or
delay our plans, including but not limited to, the Company being
unable to raise funds from investors, contractor availability and
performance, weather, access, mineral prices, and success and
failure of the exploration and development carried out at various
stages of the program. Permission from the Government and community
is also required to proceed with future mining production. Readers
should review risk factors applicable to junior mining exploration
companies generally to understand the variety of risks that can
affect the Company. The Company undertakes no obligation to update
publicly or otherwise revise any Forward Looking Statements whether
as a result of new information or future events or otherwise,
except as me be required by law.
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