MMMRF - Mammoth Reports Additional 1.7 Kilometres of 3D Geophysical Modelling at its Tenoriba Gold-Silver Property Mexico
(TheNewswire)
Toronto, Canada – TheNewswire - June17 , 2021 -Mammoth Resources Corp. (TSXV:MTH), (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to provide results from an additional 1.7kilometres (km) of the 3-dimensional (3D) drill targetmodelling from its infill, InducedPolarization/Magnetometer (IP/Mag) geophysical survey completed in thefirst quarter of this year at its 100% owned Tenoriba gold-silverproperty located in the prolific Sierra Madre precious metal belt,Mexico. This additional 3D modelling shows similar strong correlationbetween IP/Mag geophysical features and anomalous surfacegold-in-soil, chip and channel samples together with numerous goldintervals in diamond drilling and extends these coincident featuresover this additional 1.7 km of a total of 4.0 km of IP/Mag coverageover a larger 6 km east-west trend of surface gold-silvermineralization at Tenoriba.
For illustrations of the results from this modellingplease refer to Figure1 to this press release - “ Location Map of Area of 3D InterpretedGeophysical Survey”, Tenoriba Project , Figure 2 - “ IllustrativeIP-Chargeability Surface Plan, Line 57900E to 61900E, Tenoriba Project(with anomalous gold-in-soil results)” and Figure 3 - “ Illustrative 3D,IP-Chargeability Image, Section 61000E, Looking West, Carneritos Area,Tenoriba Project (with anomalous gold-in-soil results) ” .
To view an illustrative animation ofthe 3D modelling discussed in this press release showingIP-chargeability features coincident with anomalous gold-in-soilresults, including the potential extension of these features east andwest along the gold-silver mineralized trend, please refer to theCompany’s website: www.mammothresources.ca “Projects” section “Maps, Images and Photographs” section,under today’s date.
Thomas Atkins, President and CEO ofMammoth commented on results from the geophysical modelling,stating: "A total of 4kilometres along the mineralized trend at Tenoriba was covered byground Induced Polarization geophysics and 6 kilometres of groundMagnetometer geophysics. The 3D modelling incorporates the 4kilometres of Induced Polarization combining all surface and drilldata showing strong correlation between extensive areas ofchargeability and resistivity in the Induced Polarization geophysicswith elevated gold and silver values in the surface and drill data.
“Beyond that there’s so manyattractive geophysical features correlating closely with gold-silvervalues on surface and in prior drill holes along this 4-kilometretrend of 3D modelling, what’s equally exciting is that at both theeastern and western ends of the survey, attractive geophysicalfeatures remain strong. That the geophysics features remain strong atthese boundaries and that surface gold-silver values continue beyondthese limits suggests excellent opportunities to extend the potentialmineralization that may be producing these surface and geophysicalfeatures beyond the 3D modelled, 4 kilometre trend.
“Having recently closed its $2.8million private placement, Mammoth is keen to identify drill targetswithin this additional 1.7 kilometres for the total 4 kilometres ofthe trend and advance towards drilling these various targets. Thedrill contractor has begun preparations to mobilize drill equipment tosite and we intend to illustrate additional drill targeting along theentire 4-kilometre trend with updates on both activities as we movetowards commencing drilling in the weeks ahead.”
As part of the first quarter 2021 surface exploration program Mammothadvanced detailed confirmation geological mapping and expandedsampling together with an infill IP/Mag geophysical survey and 3Ddrill target modelling. The IP/Mag infill geophysicalsurvey covered an expanded 4-km trend of surface mineralization notpreviously covered by the Company’s earlier 2013 IP/Mag survey. Anadditional 2-km of Mag geophysics was performed in addition tocovering the 4-km trend of the IP survey. This work follows onactivities performed by Centerra Gold during its 21 months onMammoth’s Tenoriba property (Centerra notified Mammoth it wasceasing its exploration activities in Mexico in September 2020,returning 100% of the Tenoriba property to Mammoth - refer to press release dated September 22, 2020)and based on the recommendations following a review by PhD geologistsDrs. Ressel and Christensen of MDA/RESPEC consulting. The PhD studyincluded a review of all historical data from exploration activitiesat Tenoriba, including mapping and sampling over 3,000 surface soiland rock samples and 26 drill holes totalling almost 5,000 metres (m)sporadically testing mineralization along 4 km of the 6 km trend ofknown gold-silver mineralization. The report concluded that“Tenoriba is a high-quality early to mid-stage exploration projectwith potential to host an economic high-sulfidation epithermaldeposit” (refer to press release dated February 18, 2021 and Mammoth’s website: www.mammothresources.ca/s/TechReports.asp .) .
A total of 4.0 km of 3D modelling of the geophysical data is nowcomplete. Mammoth is working with Intelligent Exploration (IE)geophysicists to identify drill targets along this 4 km trendemploying 3D modelling technology encompassing a combination of theIP/Mag geophysical characteristics of the rocks in this area incombination with surface and drill data to assist in identifyingattractive targets for the continuation of the surface gold-silvermineralization at depth. IE is a geophysical consultancy of highlyexperienced PhD and P.Geo geophysicists, with years of experience on avariety of deposit types, employing the most modern geophysicaltechniques to enhance the geophysical evaluation of mineral deposits.
QualifiedPersons:
The IP/Mag survey was performed byGéophysique TMC (TMC) of Val d’Or Quebec, contracted by Mammothfrom TMC’s Mexico office. Chris Hale and John Gilliatt are theprincipal geophysicists at Intelligent Exploration. Dr. Chris Haleholds a BSc in Earth and Planetary Sciences from Erindale College,University of Toronto, a MA from the University of California and aPhD from the University of Toronto and has 45 years of mineralexploration experience. John Gilliatt holds a BSc in Geophysics fromthe University of Alberta and is registered as a P.Geoph. (Alberta)and has over 30 years of mineral exploration experience. Both partnershold P.Geo. registration in Ontario and are members of the CanadianExploration Geophysical Society (KEGS). IE provides consultingservices under a Certificate of Authorization from the APGO(Association of Professional Geoscientists of Ontario).
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.
Figure 1 - LocationMap of Area of 3D Interpreted Geophysical Survey, TenoribaProject
Figure 2 - Illustrative IP -Chargeability Surface Plan, Line 57900E to 61900E, TenoribaProject
(with anomalous gold-in-soil results)
Figure 3 - Illustrative 3D,IP-Chargeability Image, Section 61000E, Looking West, Carneritos Area,Tenoriba Project
(with anomalous gold-in-soil results)
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