MMMRF - Mammoth Commences 2021 Field Exploration Program
(TheNewswire)
Toronto, Canada – TheNewswire - January 27, 2021 - Mammoth Resources Corp.(TSXV:MTH) (OTC:MMMRF) , (the “Company”, or “Mammoth”) is pleased to announce that following thestrong investor enthusiasm for its recent private placement and the$88,500 increase in the gross proceeds from this financing to$688,500, the Company has mobilized crews to the Tenoriba project siteand has begun its 2021 exploration program. Company Vice PresidentExploration, Richard Simpson is at the project site and coordinatingactivities with local crews initially establishing explorationlogistics and installing the grid for the infill geophysics surveyscheduled to commence in early-mid February.
Thomas Atkins, President and CEO ofMammoth commented on the commencement of the 2021 field program,stating: “Following theterrific reception by investors for the recent private placement,Mammoth wasted no time in getting activities rolling at the projectsite despite some of the challenges to operating an internationalexploration program under increasing restrictions related to theCOVID-19 pandemic. Our personnel are following guidelines suggested byleading medical experts while we advance activities at Tenoriba toposition the project for the infill IP/Mag geophysics survey scheduledto commence mid-February. Once completed, the new geophysical datawill be incorporated into the 3D modelling of all historic and newgeophysical data, plus all surface and drill data, to assist inselecting drill targets for the Mammoth’s upcoming 2021 drillprogram. We look forward to reporting on results from the variousproject activities over the coming weeks.”
Once Mammoth has completed thegeophysical grid, a consulting geophysical company is scheduled tocommence the infill IP/Mag survey assuming no issues resulting in anydelays, in mid-February. This consultancy will be working closely withthe consultants the Company has engaged to perform the 3D modelling ofthe historic geophysical, surface and drill data. Additionally,Mammoth will be doing some follow up and infill mapping and samplingto supplement this geophysical survey. All additional data will beincorporated with all historic surface and drill data to assist in 3Dmodelling of surface and subsurface features to target drill holelocations for the Company’s planned 2021 diamond drill program,currently scheduled to commence towards the end of the currentquarter.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metalmineral exploration Company focused on acquiring and defining preciousmetal resources in Mexico and other attractive mining friendlyjurisdictions in the Americas. The Company holds a 100% interest(subject to a 2% net smelter royalty purchasable anytime within twoyears from commencement of commercial production for US$1.5 million)in the 5,333 hectare Tenoriba gold property located in the SierraMadre Precious Metal Belt in southwestern Chihuahua State, Mexico.Mammoth is seeking other opportunities to option exploration projectsin the Americas on properties it deems to host above average potentialfor economic concentrations of precious metalsmineralization.
To find out more about Mammoth Resources and to sign upto 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 RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward Looking Information: This news release maycontain or refer to forward-looking information. All information otherthan statements of historical fact that address activities, events ordevelopments that the Company believes, expects or anticipates will ormay occur in the future are forward-looking statements; examplesinclude the listing of its shares on a stock exchange and establishingmineral resources. These forward-looking statements are subject to avariety of risks and uncertainties beyond the Company's ability tocontrol or predict that may cause actual events or results to differmaterially from those discussed in such forward-looking statements.Any forward-looking statement speaks only as of the date on which itis made and, except as may be required by applicable securities laws,the Company disclaims any intent or obligation to update anyforward-looking statement, whether as a resultof new information, future events or results or otherwise. Althoughthe Company believes that the assumptions inherent in theforward-looking statements are reasonable, forward-looking statementsare not guarantees of future performance and, accordingly, unduereliance should not be placed on these forward-looking statements dueto the inherent uncertainty therein.
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