MMMRF - Mammoth Expands Anomalous Gold-In-Soil Footprint Completes Infill Geophysics Survey at its Tenoriba Gold-Silver Property Mexico
(TheNewswire)
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 explorationactivities at its 100% owned Tenoriba gold-silver property located inthe prolific Sierra Madre precious metal belt, Mexico. The early 2021program consists of detailed confirmation geological mapping andexpanded soil and rock sampling combined with an infill InducedPolarization/Magnetometer (IP/Mag) geophysical survey and3-dimensional (3D) drill target modelling. These activities aredirected towards targeting a Phase 3 drill program at Tenoriba testingtargets generated from this work over a 6-kilometre strike length ofgold-silver and copper mineralization. This work follows up onhistorical work carried out by Mammoth and recent activities performedby Centerra Gold during its 21 months optioning Mammoth’s Tenoribaproperty (Centerra notified Mammoth it was ceasing its explorationactivities in Mexico in September 2020, returning 100% of the Tenoribaproperty to Mammoth after having spent $1.2 million - refer to pressrelease dated September 22, 2020) and recommendations by PhDgeologists 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 ispleased to announce that it has extended by one kilometre (km) west ofprevious sampling, an anomalous gold-in-soil footprint (including thehighest-grade sample grading 0.75 grams/tonne (g/t) gold and 7 samplesgrading greater than 0.2 g/t gold). This soil grid covers an area of1,000 by 2,000 metres (m) (refer to Figure 1 -Gold-in-Soil Colour Contour Map Tenoriba Project, Mexico). Samplingwas at 50 m intervals along 5 - 200 m spaced lines. This gridhighlights potential mineralization in rocks (the original source ofthe gold in the soil) at shallow depths below surface soil. Thisextended gold-in-soil footprint is located west of the El Moreno areaat Tenoriba, in the vicinity of where coarse gold nuggets wererecovered from small-scale panning, late last year. Drilling in 2018at El Moreno, following up on surface rock chip, channel and only 200m along trend of IP/Mag geophysics, resulted in 3 of 4 drill holes,testing this short 200 m IP/Mag surveyed area, intersectingpotentially economical intervals of gold-silver mineralization,including: 40 m grading 0.8 g/t gold in hole TEN 17-01 and 7.2 mgrading 3.6% copper in hole TEN 17-03. The Moreno area is also openone km further east of the historic drilling, towards the centralMasuparia area of the project, where 13 of 19 drill holes intersectedpotentially economical intervals of gold-silver mineralization,including: 24.7 m grading 3.9 g/t gold in hole TDH-07 and 23.5 mgrading 1.32 g/t gold in hole TEN 17-05.
Thomas Atkins, President and CEO ofMammoth commented on the extension to the gold-in-soil grid,stating: "We're verypleased by the extension of the gold-in-soil footprint this additionalkilometre further west from prior sampling, especially that we wouldsample potentially economical open pit mine type grades of up to 0.75grams per tonne gold in soil, with numerous other high grades, and anabundance of other more typically anomalous grades, over thisadditional kilometre strike length. These results extend the El Morenoarea to approximately two kilometres of east-west strike andencompasses and area where in the past we’ve had encouraging drillresults over a short two hundred metre interval of this trend andwhere coarse gold nuggets were panned from shallow surface excavationsin 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 plusdrill hole data, with the infill geophysics data. This consolidateddata will assist with 3D modelling for drill target selectioncurrently underway, covering the six-kilometre trend of gold-silverand copper mineralization at Tenoriba.”
The infill IP/Mag geophysics survey, covering the 60 percent of the 6km trend of gold-silver with copper mineralization, not previouslycovered in the original geophysics survey, was completed late lastweek. With the infill geophysical survey now concluded we’re lookingforward to integrating these recent soil results with our geologicalmapping and large database of chip, channel and drill results into the3D modelling. Mammoth will be prioritizing drill targets from thisconsolidated data, 3D modelling over this 6 km trend of gold-silverand copper mineralization in the coming weeks.
Qualified Person /Quality Controls:
Richard Simpson, P.Geo., Vice-President Exploration for Mammoth is theCompany's Qualified Person, according to National Instrument 43-101,for the Tenoriba property and supervised the sample collection and isresponsible for and has reviewed any technical data mentioned in thisnews release. The 123 soils samples were sent to ALS Chemexpreparation facility in Chihuahua, Mexico where pulps were preparedthen sent to ALS Chemex’s facility in Canada for analysis. Thesamples were assayed by fire assay and for 33 multi-elements using ASLChemex’s Au-AA23 and ME-ICP61 methods, respectively.
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-silver property located in theSierra Madre precious metal belt in southwestern Chihuahua State,Mexico. Mammoth is seeking other opportunities to option explorationprojects in the Americas on properties it deems to host above averagepotential for 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 result of new information,future events or results or otherwise. Although the Company believesthat the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and, accordingly, undue reliance should not be placed onthese forward-looking statements due to the inherent uncertaintytherein.
Figure 1 - Gold-in-Soil ColourContour Map Tenoriba Project, Mexico
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