Black Mammoth Metals Options the High- Grade Clover Gold Property in Nevada
Black Mammoth Metals Options the High-
Grade Clover Gold Property in Nevada
VANCOUVER, BC
,
Jan. 29, 2025
/CNW/ -
Black Mammoth Metals Corporation
(TSXV: BMM)
(OTC: LQRCF)
("Black Mammoth" or the "Company")
is pleased to announce that Antelope
Creek Gold Corporation ("Antelope Creek"), a wholly owned subsidiary of Black Mammoth, has
entered into an option agreement (the "Agreement") dated
January 8, 2025
, with Nevada Select
Royalty, Inc. (the "Vendor") to acquire a 100% interest in 47 unpatented lode claims and the
Company has recently completed staking of an additional 41 unpatented lode claims (the "Claims")
covering approximately 708 hectares (1750 acres) and is called the Clover Gold property ("Clover"
or the "Property").
Claims:
The Property is located 16 kms west of the town of
Midas
, along the southwest flank of the
Snowstorm Mountains, in
Elko County
,
NE Nevada
. There is good access to the Property by the
graded
Midas
-
Tuscarora
gravel road and the Claims are managed by the Bureau of Land
Management with no difficulties permitting the recent drilling programs.
Mineralization:
Faulting on the Property strike NNW and ENE, including a large reverse fault striking NNW (the
"Structure"), dipping 40-45 degrees east on the surface, containing medium grained quartz-adularia
veins and breccia filings. Most high-grade Au values in drill holes are spatially associated with nearby
quartz veining but in several holes the high-grade intercepts are associated with little or no veining.
Silver-gold ratios in most of the high-grade intercepts are around 1:1 although some holes contain up
to 231 g/t Ag with Au of 0.68 g/t.
Drill Intercepts/Targeting:
Where drill holes have targeted the down-dip extension of the 45 degree east dipping portion of the
Structure, high-grade intercepts in drill holes usually occur immediately below and/or at the base of
the Structure, suggesting that near-vertical, feeder structures may be controlling the high-grade
intercepts.
On the Property, high-grade intercepts along the southern portion of the north-south trending
Structure include:
23.03 g/t Au over 9.75 meters
@ 102 meters
depth
- JK-4C
20.17 g/t Au & 23.6 g/t Ag over 3.0 meters
@ 211 meters depth
–
USCV012
7.15 g/t Au over 7.62 meters @
88 meters depth
- CL-13 discovery hole
Intercepts along the northern portion of the Structure include:
6.59 g/t Au over 3.04 meters @
178 meters depth
- JK-14
2.375 g/t Au and 237.5 g/t Ag over 1.52 meters
@ 143 meters
depth
– JK-23
Towards the northern extent of Claims, and along trend with the Structure, high-grade banded
chalcedonic-
quartz vein boulders assay up to 29 g/t Au and 281 g/t Ag
and are geochemically
similar to the veins being mined in the
Midas
district.
Drilling at Clover in 2008 – Yamana Gold Inc. (CNW Group/Black Mammoth Metals Corp)
Drilling at Clover in 2008 – Yamana Gold Inc.
Past Operators:
Past operators at Clover include Romarco (JK drill holes), Placer Amex,
Echo Bay
(CL drill holes),
Meridian/Yamana (USCV drill holes), Amax,
Nassau
and Atna.
Geology
The Property occurs along the west margin of the Northern Nevada Rift. Other deposits and districts
with a similar regional setting include
Midas
, Ivanhoe and Mule Canyon. The large sediment-hosted
Au deposits at Twin Creeks and Getchell are located 16-24 kms to the west. The Property is
underlain by volcanic rocks of mid-Miocene age. Basaltic andesite flows are recognized along with
the Clover rhyolite and "green" pumice-lithic tuff and lacustrine sedimentary and tuffaceous rocks
that comprise the remaining older units. As mapped by the USGS and confirmed by later detailed
work, these rocks are the time-stratigraphic equivalents to rocks that host bonanza veins in the
Midas
district. High-grade drill intercepts on the Property occur mainly within the Clover rhyolite
which is often moderately to strongly silicified with low level Au over a broad area.
Acquisition Terms (in USD):
Under the terms of the Agreement, Antelope Creek may purchase a 100% interest in the Property
by making an aggregate of
$185,000
in cash payments in accordance with the following schedule:
Payment Date Cash Payment Status
At signing $7,500 Paid
1
st
anniversary
$15
,000 -
2
nd
anniversary
$30
,000 -
3
rd
anniversary
$65,000
-
4
th
anniversary $67,500 -______
Total:
$185,000
The Vendor will retain a 2.5% NSR and the Optionee will reimburse the Vendor for claims staking
costs in addition to the associated BLM and County filing fees (paid).
There are no work commitment amounts, finder's fees or share compensation in connection with
Clover Agreement.
About Black Mammoth Metals Corporation:
In the past 12 months, Black Mammoth Metals acquired a 100% interest in:
Coleman Canyon property,
Elko County, NV
,
Leadore Silver-Lead property
,
Lemhi County, ID
,
East Reveille Gold property
,
Nye County, NV
,
America Mine Gold
property
,
San Bernardino, CA
,
Quito Gold property
,
Lander County, NV
South Ravenswood
District
,
Lander County NV
,
Callaghan Gold District
,
Lander County NV.
At the Company's 100% owned, 1,213 hectare (2,997 acre)
Happy Cat Gold property
,
Lander
County, NV
, an approximate 4 square kilometre area is identified as being hydrothermally altered.
Structural modelling suggests the density of the alteration and its' density contrast relative to the
host rock is typical to that of alteration zones present at other
Carlin
-type deposits in northern
Nevada
. The alteration encompasses an area where northerly trending high-angle faults intersect
indicated NW-trending re-activated faults that are known to be of age and orientation as ore-
controlling faults occurring at other
Carlin
-type deposits. The Company intends to drill approximately
1500m
in
January 2025
to further understand the structure and stratigraphy. The required permit and
bond are in place.
Black Mammoth also has a 100% interest in the
Blanco Creek Gold property
in the Elk Creek
Mining District, central
Idaho
, which hosts three historic underground mines along 3,550 meters
(11,644 feet) of strike on the north-east trending regional
Blanco Shear Zone
. Exploration by two
previous operators identified a geological target for the Blanco Creek property in the order of 1.70
to 2.48 million tons, grading 0.20 to 0.33 oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85 to
11.31 g/tonne Au); see the Company's press release dated
February 14, 2017
.
Black Mammoth cautions investors to note the potential quantity and grade of the geological target
are conceptual in nature. A qualified person has not completed sufficient work to classify the
geological target as mineral resources as defined by NI 43-101, and it is uncertain if future
exploration will result in the target being delineated as mineral resources.
Mark J. Abrams
, CPG #11451, a Qualified Person as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
("
NI 43-101
") and director of Black Mammoth, has
reviewed and approved the technical content in this release. Historical information contained in this
news release cannot be relied upon as Mr. Abrams, the Company's Qualified Person, has not
prepared or verified the historical information.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson
, BBA
President & CEO
This press release contains forward-looking statements and forward-looking information
(collectively, "forward looking statements") within the meaning of applicable securities laws. All
statements, other than statements of historical fact, included herein, including statements regarding
the Company's completion of the Transaction and related transactions are forward-looking
statements. Forward-looking statements are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature,
refer to future events. Although the Company believes that such statements are reasonable, there
can be no assurance that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements. The Company cautions
investors that any forward-looking statements by the Company are not guarantees of future
performance, and that actual results may differ materially from those in forward-looking
statements. Important factors that could cause actual events and results to differ materially from
the Company's expectations include that the requisite corporate and TSXV for the Transaction may
not be obtained; that the Company or IDA Mining, as applicable, may be unable to satisfy any or
all closing conditions necessary for the completion of the Transaction; and other risks that are
customary to transactions of this nature. Trading in the securities of the Company should be
considered highly speculative. All of the Company's public disclosure filings may be accessed via
www.sedarplus.ca
and readers are urged to review these materials, including the latest technical
reports filed with respect to the Company's mineral properties.
Neither 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.
SOURCE
Black Mammoth Metals Corp
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For further information:
Black Mammoth Metals Corporation, Phone: 604 347 9101, Email:
[email protected], Website:
www.blackmammothmetals.com
CO: Black Mammoth Metals Corp
CNW 09:15e 29-JAN-25