MMMRF - Mammoth Receives Additional Drill Permit Expanding Area to be Drilled at its Tenoriba Gold-Silver Property Mexico
(TheNewswire)
Toronto, Canada - TheNewswire - December 2, 2021 - Mammoth Resources Corp.(TSXV:MTH) (OTC:MMMRF) , (the “Company”, or “Mammoth”) is pleased toannounce that the Mexican environment ministry ; Secretaríadel Medio Ambiente y Recursos Naturales (SEMARNAT) has approvedMammoth’s application for an additional drill permit which allowsfor an additional up to 182 drill sites and covers all of theapproximately 6-kilometre (km) generally east–west trend of surfacegold-silver mineralization sampled on Mammoth’s 100% ownedTenoriba gold-silver property located in the prolific Sierra Madreprecious metal belt, Mexico.
Previously Mammoth had announced the transfer of the Centerra GoldCorp. initiated drill permit for 139 drill locations coveringapproximately half of the surface mineralized trend at Tenoriba toMammoth (refer to press release dated January 6, 2021). It was thispermit upon which Mammoth has been conducting its recently announceddrilling. This additional drill permit expands upon this initialpermit both in size of the area to be drilled, plus brings the totalnumber of permitted drill hole locations to 321 over this entireapproximately 6-km trend.
Thomas Atkins, President and CEO ofMammoth commented on the receipt of this drill permit, stating: “Itwould be incorrect to give the impression that Mammoth is at this timepreparing to drill 321 drill locations. In applying for thisadditional permit, the study and submission costs of which areessentially similar whether applying for 50 or 182 additionallocations, we wanted to have the flexibility in the coverage of drillhole locations and expanse of the large surface mineralized trend andas such we applied for the number of holes we did. The drill programcurrently underway will soon be shifting drilling into portions ofthese newly permitted areas, both further west and east of what hadpreviously been permitted by Centerra with the permit transferred toMammoth following Centerra’s decision to exit Mexico in September2020 and returning 100 percent of Tenoriba project to Mammoth.
“Mammoth’s objective is to testvarious anomalously mineralized zones identified from thousands ofsurface soil samples, hundreds of chip and channel samples, 26 priordrill holes and Induced Polarization-Magnetometer geophysics surveysall of which have been integrated into a 3-dimensional model of targetzones at Tenoriba over 4kilometres with select data over up to 6 kilometres of this sametrend. Mammoth looks forward to continued reporting on results fromthis drill program in the weeks and months ahead.”
The drill program is designed to test up to five target zones whichmeasure from hundreds of metres (m) to over one kilometre (km) instrike length along a 4 km, east-west trend of gold-silvermineralization identified in 3-dimensional (3D) modellingincorporating data from over 3,000 soil, chip and channel samples, 26prior diamond drill holes, geological and structural mapping and thepotential continuity at depth of surface mineralization as indicatedby an Induced Polarization/Magnetometer (IP/Mag) geophysical survey(please refer to the descriptions of target zones in press releasesdated July 22, 2021). Beyond this 4 km trend select data (surface soiland chip samples and Magnetometer geophysics) exists which provideinformation upon which additional targets may be developed.
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 up to receivefuture press releases, please visit the company's website at: www.mammothresources.ca ., or contact Thomas Atkins, President andCEO 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.
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