MMMRF - Mammoth Receives Drill Permit for 139 Drill Locations on its Tenoriba Gold Property Mexico
(TheNewswire)
Toronto, Canada – TheNewswire - January 6, 2021 - Mammoth Resources Corp.(TSXV:MTH), (OTC:MMMRF), (the“Company”, or “Mammoth”) is pleased to announce thatMexican environment ministry ; Secretaríadel Medio Ambiente y Recursos Naturales (SEMARNAT) has approvedCenterra’s previously announced drill permit application onMammoth’s 100% owned Tenoriba gold-silver property located in theprolific Sierra Madre precious metal belt, Mexico. Following thisdrill permit approval and the recently announced two year surfaceaccess agreements (refer to press releases dated November 5, andDecember 21, 2020), Mammoth has all permissions required to drill upto 139 drill hole locations on the eastern half of the 6 kilometretrend of surface gold-silver mineralization (refer to Figure 1 at theend of this release - “Location Map, Geology-Chip/Channel, 2008/2018Drilling and Centerra Proposed Drilling” for the location of these139 drill sites also available on Mammoth’s website, “Projects”,“Maps, Images and Photos”: http://www.mammothresources.ca/s/ProjectImages.asp ).Mammoth is required to transfer the Centerra permit approval to itselfand this transfer is underway and is expected to imminently becompleted.
Thomas Atkins, President and CEO ofMammoth commented on the receipt of this drill permit, stating: “Since the recent announcement two weeks ago wherein Mammothreceived surface access approval from the second of two ejidosenabling surface access on the Tenoriba project, Mammoth is now inreceipt of the drill permit to drill up to 139 locations at itsTenoriba gold-silver property. All permissions are now in hand toenable Mammoth drilling Tenoriba. We’ll soon begin our in-fillgeophysics survey intended to cover most of the 60 percent of thesurface mineralized area mapped, sampled and drill tested over as muchas 6 kilometres of strike length not covered in Mammoth’s initialgeophysics program. Data from this in-fill survey will be integratedinto a 3D interpretation of historical geophysical data which willinclude all surface and drill data and this data will be integratedinto the recently completed third-party PhD geologist review ofTenoriba thus providing Mammoth geologists the best picture of thedrill target opportunities at Tenoriba. With this combined informationMammoth will target its initial 50-hole drill program expected tocommence prior to the end of the first quarter 2021. We feel it’slikely we’ll submit an additional drill permit application to coverdrill targets in the western half of the 6 kilometres trend ofmineralization, not covered in this permit approval, once we’veincorporated all the information from this soon to begin surfaceprogram.”
Having gained surface access approval in late December from the secondof two communities (ejidos) governing surface access at Tenoriba,Mammoth will soon initiate its drill targeting confidence program,including in-fill geophysics and some additional confirmation mappingand sampling. The in-fill IP-Mag geophysics survey is intended tocover most of the 60 percent of the remaining surface mineralized areamapped, sampled and drill tested over an approximate 6 kilometrestrike length of mineralization at Tenoriba, not covered inMammoth’s initial geophysics program. Data from this in-fill surveywill be incorporated into the 3D interpretation of the historicalIP-Mag survey, currently underway. The combination of geophysics,surface and drill data into the 3D model coupled with observations andrecommendations from the recent project review by a third-party PhDgeologist, will enable Company geologists to have the best picture ofthe drill target opportunities along this 6 kilometre strike lengthfrom which the first 50 drill holes of a planned extensive drillingprogram at Tenoriba will be targeted. Mammoth plans to commence thisdrill program before the end of the first quarter 2021. Once all thisinformation is reviewed and additional drill targets identified,it’s likely Mammoth will apply for an extension of the currentlyapproved drill permit enabling the Company to test additional targetsin the western half of the 6 kilometre trend of mineralization atTenoriba.
Mammoth will announce results from these additional activities onceresults are available.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metal mineralexploration Company focused on acquiring and defining precious metalresources in Mexico and other attractive mining friendly jurisdictionsin the Americas. The Company holds a 100% interest (subject to a 2%net smelter royalty purchasable anytime within two years fromcommencement of commercial production for US$1.5 million) in the5,333hectare Tenoriba gold property located in the Sierra MadrePrecious Metal Belt in southwestern Chihuahua State, Mexico. Mammothis seeking other opportunities to option exploration projects in theAmericas on properties it deems to host above average potential foreconomic concentrations of precious metals mineralization.
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.
Figure 1 - Location Map,Geology-Chip/Channel-2008/2018 Drilling and Centerra ProposedDrilling
(permitted drill locations are identified by grey diamonds on the map)
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