Toronto, Canada – TheNewswire - April 15, 2021 - Mammoth Resources Corp. (TSXV:MTH), (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to provide an update on its exploration activities at its 100% owned Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt, Mexico. The early 2021 program consists of detailed confirmation geological mapping and expanded soil and rock sampling combined with an infill Induced Polarization/Magnetometer (IP/Mag) geophysical survey and 3-dimensional (3D) drill target modelling. These activities are directed towards targeting a Phase 3 drill program at Tenoriba testing targets generated from this work over a 6-kilometre strike length of gold-silver and copper mineralization. This work follows up on historical work carried out by Mammoth and recent activities performed by Centerra Gold during its 21 months optioning Mammoth’s Tenoriba property (Centerra notified Mammoth it was ceasing its exploration activities in Mexico in September 2020, returning 100% of the Tenoriba property to Mammoth after having spent $1.2 million - refer to press release dated September 22, 2020) and recommendations by PhD geologists Drs. Ressel and Christensen of MDA/RESPEC consulting, following their review of all historical data at Tenoriba performed (refer to Mammoth’s website: www.mammothresources.ca/s/TechReports.asp.).
As part of the early 2021 program the Company is pleased to announce that it has extended by one kilometre (km) west of previous sampling, an anomalous gold-in-soil footprint (including the highest-grade sample grading 0.75 grams/tonne (g/t) gold and 7 samples grading greater than 0.2 g/t gold). This soil grid covers an area of 1,000 by 2,000 metres (m) (refer to Figure 1 - Gold-in-Soil Colour Contour Map Tenoriba Project, Mexico). Sampling was at 50 m intervals along 5 - 200 m spaced lines. This grid highlights potential mineralization in rocks (the original source of the gold in the soil) at shallow depths below surface soil. This extended gold-in-soil footprint is located west of the El Moreno area at Tenoriba, in the vicinity of where coarse gold nuggets were recovered from small-scale panning, late last year. Drilling in 2018 at El Moreno, following up on surface rock chip, channel and only 200 m along trend of IP/Mag geophysics, resulted in 3 of 4 drill holes, testing this short 200 m IP/Mag surveyed area, intersecting potentially economical intervals of gold-silver mineralization, including: 40 m grading 0.8 g/t gold in hole TEN 17-01 and 7.2 m grading 3.6% copper in hole TEN 17-03. The Moreno area is also open one km further east of the historic drilling, towards the central Masuparia area of the project, where 13 of 19 drill holes intersected potentially economical intervals of gold-silver mineralization, including: 24.7 m grading 3.9 g/t gold in hole TDH-07 and 23.5 m grading 1.32 g/t gold in hole TEN 17-05.
Thomas Atkins, President and CEO of Mammoth commented on the extension to the gold-in-soil grid, stating: "We're very pleased by the extension of the gold-in-soil footprint this additional kilometre further west from prior sampling, especially that we would sample potentially economical open pit mine type grades of up to 0.75 grams per tonne gold in soil, with numerous other high grades, and an abundance of other more typically anomalous grades, over this additional kilometre strike length. These results extend the El Moreno area to approximately two kilometres of east-west strike and encompasses and area where in the past we’ve had encouraging drill results over a short two hundred metre interval of this trend and where coarse gold nuggets were panned from shallow surface excavations in this area. With the infill geophysical survey recently completed, these additional soil results will add to the consolidation of data, including thousands of additional soil, chip and channel samples plus drill hole data, with the infill geophysics data. This consolidated data will assist with 3D modelling for drill target selection currently underway, covering the six-kilometre trend of gold-silver and copper mineralization at Tenoriba.”
The infill IP/Mag geophysics survey, covering the 60 percent of the 6 km trend of gold-silver with copper mineralization, not previously covered in the original geophysics survey, was completed late last week. With the infill geophysical survey now concluded we’re looking forward to integrating these recent soil results with our geological mapping and large database of chip, channel and drill results into the 3D modelling. Mammoth will be prioritizing drill targets from this consolidated data, 3D modelling over this 6 km trend of gold-silver and copper mineralization in the coming weeks.
Qualified Person / Quality Controls:
Richard Simpson, P.Geo., Vice-President Exploration for Mammoth is the Company's Qualified Person, according to National Instrument 43-101, for the Tenoriba property and supervised the sample collection and is responsible for and has reviewed any technical data mentioned in this news release. The 123 soils samples were sent to ALS Chemex preparation facility in Chihuahua, Mexico where pulps were prepared then sent to ALS Chemex’s facility in Canada for analysis. The samples were assayed by fire assay and for 33 multi-elements using ASL Chemex’s Au-AA23 and ME-ICP61 methods, respectively.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold-silver property located in the Sierra Madre precious metal belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.
To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at: www.mammothresources.ca., or contact Thomas Atkins, President and CEO at: 416 509-4326.
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 Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.
Figure 1 - Gold-in-Soil Colour Contour Map Tenoriba Project, Mexico
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