|January 26, 2017|
MAMMOTH RESOURCES REPORTS RESULTS FROM ITS PIMA-XRD SURFACE PROGRAM AT ITS TENORIBA PRECIOUS METAL PROJECT, CHIHUAHUA, MEXICO
|Toronto, Canada (January 26, 2017) - Mammoth Resources Corp. (TSX-V: MTH), (the "Company") is pleased to announce that it has received and interpreted results from its PIMA - X-ray Diffraction (XRD) sampling program and analysis completed in late 2016 at its Tenoriba, High Sulphidation gold-silver property located in the prolific Sierra Madre area of southwestern Chihuahua State, Mexico. Through this PIMA-XRD program the Company believes it has enhanced its understanding and targeting of some of the most attractive areas of gold mineralized along a trend initially identified to occur over a large 15 square kilometre area on the property (refer to the "Geology, ISM & Gold Eq." map posted on the company's web site: |
Thomas Atkins, President and CEO of Mammoth commented on the results from this program stating: "We're pleased with the results from the PIMA-XRD survey. These results provide us with improved recognition of areas within the larger 15 square kilometer area of precious metal mineralization that would appear to be nearer more intense hydrothermal activity. The model for a High Sulphidation precious metal system, as is believed to exist at Tenoriba, suggests that the nearer the source of hydrothermal activity, the nearer one is to identifying the sources of the precious metal mineralization on the property. The results of this program combined with additional indications hydrothermal activity such as hydrothermal breccias, intense silicification and vuggy silica, associated with favourable geochemistry and precious metal mineralization, reinforces and helps better define the most likely source of the mineralization on the property. Based on these encouraging results we'd like to return to the property and tighten the sample spacing in some of the more favourable areas at Los Carenitos and El Moreno to see if we can't better define the proximity to this hydrothermal source in these areas and expand the grid in areas of lesser coverage at Cerro Colorado and to the east of Los Carenitos to see if we can hone-in even further in these areas where the combination of attractive features could make the most attractive drill targets."
The objective of the PIMA - XRD program was to systematically collect and analyze rock samples over the 15 square kilometre (sq km) area of precious metal mineralization to determine the type of alteration clay minerals present in these rocks associated with degrees of alteration and presence of gold and silver, such alteration believed to be the product of hydrothermal activity carrying and depositing the precious metals in these rocks. A total of 202 samples were collected along 14, approximately north-south trending lines averaging from one to two kilometres in length spaced 500 metres apart with samples collected every 100 metres along the lines. Samples were sent to Recursos Geosiences de Mexico S.A de C.V (RGM) in Hermosillo, Sonora State, Mexico for XRD analysis with Terraspec. Thirteen lines cover the majority of the target 15 sq km area previously defined to contain abundant surface gold mineralization via rock chip sampling and an initial diamond drill program which tested approximately 20 percent of this area with 15 drill holes, the highest grade intersection assaying 45.9 grams per tonne (g/t) gold over 1.9 metres and the highest surface sample assayed on the property graded 74 g/t gold.
Various alteration clay minerals associated with silicified rocks, including: dickite, and in some samples pyrophillite, are categorized based on the Index of Smectite Maturity ("ISM" index), which assists in identifying the processes and temperature of formation of various alteration clay minerals. Based on the ISM index, an ISM of greater than 1.6 is believed to be of the highest order of temperature formation and nearest the source of hydrothermal activity while an ISM of greater than 1.0 is of intermediate temperature and believed to be slightly further from the source of hydrothermal activity. A level below 1.0 is thought to be distant from the source. Approximately 60 percent of the samples collected during this program points to very near source or of intermediate distance to the source of hydrothermal activity which combined with attractive gold assays, supportive geochemistry, abundance of silicification, brecciation and vuggy silica meet many of the criteria for an attractive High Sulphidation precious metal mineralizing system.
The map available on the Company's web site via the link:
http://www.mammothresources.ca/i/maps_figures/2017-01-26-pima-sampling-geo-ism-au.jpg.) illustrates (in the areas of cross hatching) an approximate 6 kilometres east, northeast trend from the El Moreno prospect area in the west to the Los Carneritos area in the east where there is an abundance of red and amber diamonds indicative of the sample location of higher order ISM index clays and where red and yellow squares are observed on the map these indicate sample locations with higher gold assay results (from 5 g/t to 74 g/t gold) from surface samples. This trend also overlies the trend established from the Induced Polarization and Magnetometer ground geophysics survey conducted on the property (refer to image in the "Projects" section of the Company's website and the complete geophysics report filed therein).
Next steps in the exploration program includes a tighter line and sample spacing in the areas of the most attractive features, in particular at Los Carenitos and El Moreno, and expand the grid in areas of lesser coverage at Cerro Colorado and to the east of Los Carenitos to try to hone-in even further in these areas where the combination of attractive geological features, gold assay results, attractive geophysical features and these alteration clay minerals make attractive drill targets. With this next round of sampling we'd like to excavate some trenches in the most attractive of these areas for mapping and sampling. With heavy equipment on the property for this trenching we'd like to build roads to areas on the property where roads don't currently exist or need to be rehabilitated and construct drill. Mammoth received a drill permit in November 2016 for up to 16 drill pad locations and an unlimited number of metres of drilling and is expected to renew its surface rights on the property by early February 2017 with the second of the two ejidos which administer the surface rights at the project area, valid for at least the next two years. The Company is optimistic that with the next round of surface work it hopes to commence in mid February that it will be in a position to commence a diamond drill program on a number of attractive targets towards the middle of the year.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company has an option to acquire 100% in the Tenoriba Property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The company continues to seek other option agreements in the Americas on other properties it deems to host above average potential for economic concentrations of precious metals mineralization.
Qualified Person / Quality Controls:
Richard Simpson, P.Geo.,Vice-President Exploration for Mammoth Resources Corp. is Mammoth's Qualified Person, according to National Instrument 43-101, for the Tenoriba project and is responsible for any technical data mentioned in this news release.
To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at www.mammothresources.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.
You can view the Next News Releases item: Tue Feb 7, 2017, MAMMOTH RESOURCES ANNOUNCES $150,000 PRIVATE PLACEMENT FOR TRENCHING, DRILL ACCESS AND IN-FILL PIMA PROGRAM AT TENORIBA PRECIOUS METAL PROJECT, CHIHUAHUA, MEXICO
You can view the Previous News Releases item: Tue Jan 17, 2017, MAMMOTH RESOURCES ANNOUNCES EFFECTIVE DATE OF CONSOLIDATION OF COMMON SHARES ON 4 FOR 1 BASIS
You can return to the main News Releases page, or press the Back button on your browser.