|June 17, 2021|
MAMMOTH REPORTS ADDITIONAL 1.7 KILOMETRES OF 3D GEOPHYSICAL MODELLING AT ITS TENORIBA GOLD-SILVER PROPERTY, MEXICO
Toronto, Canada (June 17, 2021) - Mammoth Resources Corp. (TSX-V: MTH), (the "Company", or "Mammoth") is pleased to provide results from an additional 1.7 kilometres (km) of the 3-dimensional (3D) drill target modelling from its infill, Induced Polarization/Magnetometer (IP/Mag) geophysical survey completed in the first quarter of this year at its 100% owned Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt, Mexico. This additional 3D modelling shows similar strong correlation between IP/Mag geophysical features and anomalous surface gold-in-soil, chip and channel samples together with numerous gold intervals in diamond drilling and extends these coincident features over this additional 1.7 km of a total of 4.0 km of IP/Mag coverage over a larger 6 km east-west trend of surface gold-silver mineralization at Tenoriba.
For illustrations of the results from this modelling please refer to Figure 1 to this press release - "Location Map of Area of 3D Interpreted Geophysical Survey", Tenoriba Project, Figure 2 - "Illustrative IP-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 of the 3D modelling discussed in this press release showing IP-chargeability features coincident with anomalous gold-in-soil results, including the potential extension of these features east and west along the gold-silver mineralized trend, please refer to the Company's website: www.mammothresources.ca "Projects" section "Maps, Images and Photographs" section, under today's date.
Thomas Atkins, President and CEO of Mammoth commented on results from the geophysical modelling, stating: "A total of 4 kilometres along the mineralized trend at Tenoriba was covered by ground Induced Polarization geophysics and 6 kilometres of ground Magnetometer geophysics. The 3D modelling incorporates the 4 kilometres of Induced Polarization combining all surface and drill data showing strong correlation between extensive areas of chargeability and resistivity in the Induced Polarization geophysics with elevated gold and silver values in the surface and drill data.
"Beyond that there's so many attractive geophysical features correlating closely with gold-silver values on surface and in prior drill holes along this 4-kilometre trend of 3D modelling, what's equally exciting is that at both the eastern and western ends of the survey, attractive geophysical features remain strong. That the geophysics features remain strong at these boundaries and that surface gold-silver values continue beyond these limits suggests excellent opportunities to extend the potential mineralization that may be producing these surface and geophysical features beyond the 3D modelled, 4 kilometre trend.
"Having recently closed its $2.8 million private placement, Mammoth is keen to identify drill targets within this additional 1.7 kilometres for the total 4 kilometres of the trend and advance towards drilling these various targets. The drill contractor has begun preparations to mobilize drill equipment to site and we intend to illustrate additional drill targeting along the entire 4-kilometre trend with updates on both activities as we move towards commencing drilling in the weeks ahead."
As part of the first quarter 2021 surface exploration program Mammoth advanced detailed confirmation geological mapping and expanded sampling together with an infill IP/Mag geophysical survey and 3D drill target modelling. The IP/Mag infill geophysical survey covered an expanded 4-km trend of surface mineralization not previously covered by the Company's earlier 2013 IP/Mag survey. An additional 2-km of Mag geophysics was performed in addition to covering the 4-km trend of the IP survey. This work follows on activities performed by Centerra Gold during its 21 months on Mammoth's Tenoriba property (Centerra notified Mammoth it was ceasing 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 geologists Drs. Ressel and Christensen of MDA/RESPEC consulting. The PhD study included a review of all historical data from exploration activities at Tenoriba, including mapping and sampling over 3,000 surface soil and rock samples and 26 drill holes totalling almost 5,000 metres (m) sporadically testing mineralization along 4 km of the 6 km trend of known gold-silver mineralization. The report concluded that "Tenoriba is a high-quality early to mid-stage exploration project with potential to host an economic high-sulfidation epithermal deposit" (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 now complete. Mammoth is working with Intelligent Exploration (IE) geophysicists to identify drill targets along this 4 km trend employing 3D modelling technology encompassing a combination of the IP/Mag geophysical characteristics of the rocks in this area in combination with surface and drill data to assist in identifying attractive targets for the continuation of the surface gold-silver mineralization at depth. IE is a geophysical consultancy of highly experienced PhD and P.Geo geophysicists, with years of experience on a variety of deposit types, employing the most modern geophysical techniques to enhance the geophysical evaluation of mineral deposits.
The IP/Mag survey was performed by Géophysique TMC (TMC) of Val d'Or Quebec, contracted by Mammoth from TMC's Mexico office. Chris Hale and John Gilliatt are the principal geophysicists at Intelligent Exploration. Dr. Chris Hale holds a BSc in Earth and Planetary Sciences from Erindale College, University of Toronto, a MA from the University of California and a PhD from the University of Toronto and has 45 years of mineral exploration experience. John Gilliatt holds a BSc in Geophysics from the University of Alberta and is registered as a P.Geoph. (Alberta) and has over 30 years of mineral exploration experience. Both partners hold P.Geo. registration in Ontario and are members of the Canadian Exploration Geophysical Society (KEGS). IE provides consulting services 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 metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.
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. 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.
Figure 1 - Location Map of Area of 3D Interpreted Geophysical Survey, Tenoriba Project
Figure 2 - Illustrative IP - Chargeability Surface Plan, Line 57900E to 61900E, Tenoriba Project
Figure 3 - Illustrative 3D, IP-Chargeability Image, Section 61000E, Looking West, Carneritos Area, Tenoriba Project
(with anomalous gold-in-soil results)
You can view the Next News Releases item: Thu Jul 22, 2021, MAMMOTH REPORTS FOLLOW UP DRILL TARGETING AT ITS TENORIBA GOLD-SILVER PROPERTY, MEXICO AND PROVIDES PROJECT UPDATE
You can view the Previous News Releases item: Wed Jun 9, 2021, MAMMOTH ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING OF UNITS FOR GROSS PROCEEDS OF $2.85 MILLION
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