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Mega Moly Inc. Options Amarillo Gold Project in Argentina
Mega Moly Inc. Options Amarillo Gold Project in Argentina
About this update from Avanti Gold Corp
[{"type":"text","content":"\nMega Moly Inc. Options Amarillo Gold Project in Argentina\n\n\n Aug. 19, 2010 (Filing Services Canada) -- MegaMoly Inc.  (MGY - TSX Venture), is pleased to announce that it has signed an option agreement with a private consortium of title holders (the \"Vendors\") to earn up to a 100% interest in the \"Amarillo\" property located in the San Juan province of Argentina. The Agreement is subject to regulatory approval.  This is the first step in the realignment and repositioning of the Company as discussed in the press release dated August 18, 2010.The Amarillo gold-copper-silver project is located within the Veladero-El Indio gold belt on the Argentine side of the Andes. This belt is fast becoming an attractive area for major mining companies that are investing substantial funds exploring for world class gold deposits. The Amarillo land-holding covers over 7,200 hectares of intensely altered sedimentary and intrusive rocks that represent the upper levels of two or more large porphyry-related hydrothermal systems. The Company is impressed with the magnitude and intensity of the alteration systems and the highly anomalous gold and copper values from previous explorer's trench sampling. The Company has completed its initial phase of technical and legal due diligence on the property and has initiated a program to compile and analyze earlier data. The Company plans to develop an exploration program for Amarillo which will be announced in the near future.The complete set of previous explorer's significant drilling and trench sampling values has been obtained by the Company.  Highlights from historic work (Minera Argentina Gold S.A. in 1994) include a significant number of high grade results, including:-------------------------------------------------------------HOLE ID    FROM     TO   THICK (M)   AU G/T    AG G/T    CU% -------------------------------------------------------------DDH1        15      16         1     8.37       Na      0.00 DDH1        16    &#x...