|February 26, 2019|
MAMMOTH PROVIDES UPDATE ON EXPLORATION ACTIVITIES AT ITS TENORIBA PRECIOUS METAL PROJECT, MEXICO
|Toronto, Canada (February 26, 2019) - Mammoth Resources Corp. (TSX-V: MTH), (the "Company", or "Mammoth") is please to provide an update on exploration activities at its Tenoriba precious metal, gold-silver property located in the prolific Sierra Madre precious metal belt in southwestern Chihuahua State, Mexico. |
Mammoth announced on December 20, 2018, that it and Centerra Gold Inc. (Centerra) had reached an agreement to option Tenoriba to Centerra whereby Centerra can earn up to a 70% interest in Tenoriba upon total project expenditures and payments of US$9.9 million (approximately C$13.0 million) to be expended over a maximum seven-year period, expenditure amounts which can be accelerated depending on exploration success. On January 20, 2019 Mammoth and Centerra personnel met at Centerra's exploration office in Mexico to plan the 2019 exploration program and soon thereafter Mammoth's Vice President Exploration and Centerra exploration team mobilized to the project area, secured accommodations, began community consultations and introductions and began an initial mapping, sampling and diamond drill core review. Of note, during the early days of the commencement of this work the project was visited by a team of Centerra and consultants to Centerra geologists with specific experience and expertise in High Sulphidation (HS) systems as a first stage review of opportunities and geological potential at Tenoriba.
Early activities since mobilizing to Tenoriba include review and the analysis of infill drill core intervals and samples from an additional two drill holes not yet analyzed from the Mammoth 2017-18, 13-hole diamond drill program. Work has also begun on the initial stages of the Centerra-Mammoth 2019 field exploration program, to include:
Mammoth President and CEO, Thomas Atkins, also a Director of Transition Metals Corp. (XTM), will be at the XTM booth, number 2126 in the Investor Exchange section of the Prospectors and Developers Association Conference (PDAC) in Toronto from Sunday, March 3rd to Wednesday, March 6th and can be contacted there if a meeting is desired.
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., or contact Thomas Atkins, President and CEO at: 416 509-4326.
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. 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. Please refer to the Company's website at the following link: http://www.mammothresources.ca/s/FAQ.asp to review the Company's complete forward looking statement.
You can view the Next News Releases item: Fri Dec 6, 2019, MAMMOTH PROVIDES UPDATE ON ACTIVITIES AT ITS TENORIBA GOLD PROPERTY, MEXICO
You can view the Previous News Releases item: Wed Jan 16, 2019, MAMMOTH POSTS TECHNICAL REPORT ON 2017-18 DIAMOND DRILLING PROGRAM ON ITS WEBSITE WITH RECOMMENDATIONS FOR FOLLOW UP DRILLING
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