Black Mammoth Metals Consolidates Claims at St. Elmo High-Grade Gold and Diamond Jim Silver-Lead-Zinc-Antimony Properties, NV BMM: TSX-V
Black Mammoth Metals Consolidates Claims
at St. Elmo High-Grade Gold and Diamond Jim
Silver-Lead-Zinc-Antimony Properties, NV
BMM: TSX-V
VANCOUVER, BC
,
April 8, 2025
/CNW/ -
Black Mammoth Metals Corporation
(TSXV: BMM)
(OTC: LQRCF)
("Black Mammoth" or the "Company")
is pleased to announce that it has staked
47 federal unpatented claims at the Company's St. Elmo property ("St. Elmo") and Diamond Jim
property ("Diamond Jim") collectively (the "Properties") which now consists of 85 contiguous federal
unpatented claims (approximately 681 hectares or 1684 acres) (the "Claims Position").
The Properties are both historic producers located in the Island Mountain mining district which is on
the NE side of the Midas Trough trend, 100 km N of
Elko, Nevada
. The Company owns significant
data related to the Properties from past operators' exploration since the mid 1980's, which include:
Homestake, Newmont,
Harrison Western
,
Columbus Mines
, Mason Exploration and Golden
Predator.
St. Elmo Property
The St. Elmo is a large, high-grade to bonanza-grade gold, outcropping epithermal vein and breccia
system with lower-grade bulk tonnage mineralization that can be traced for 2.9 kms and is open on
strike and at depth, with four subparallel vein-breccia structures where the veins are up to
12m
thick
and breccia bodies are up to
21m
thick. Past exploration was of limited scope and duration with the
last drilling campaign completed in 2009. Drilling was focussed on the upper levels of the St. Elmo
historic underground (U/G) mine, over a limited strike length and vertical depth.
Highlights Include:
Best drill intercept:
3.0m
@ 16.8 g/t Au & 41.50 g/t Ag from
68.6m
-
(GPSE-011) Golden Predator 2009.
Best drill intercept of the down dip extension of St. Elmo workings (
32.6m
wide composite vein):
2.0m
@ 15.62 g/t Au & 10.93 g/t Ag from
133m
and
2.6m
@ 5 g/t Au & 2.34g/t Ag from
121m
– (GC-01) Mason Exploration 1999.
Bulk sample – U/G:
1360 tonnes with average grade 10.3 g/t Au,
Harrison Western
1990. Subsample sent to Hazen
Research, CO in 1991 for metallurgical testing – 360 kg with head grade of 73.75 g/t Au &
35.93 g/t Ag resulted in
85% to 90% of the gold recoverable with a combination of gravity
and floatation.
Rock chip sampling up to:
639.60 g/t Au
– U/G grab sample - Newmont 1988
Priority Targets at St. Elmo include:
Along-strike and down-dip extensions to the high-grade St. Elmo historic workings.
Strike extension suggested by an induced polarization survey ("IP") showing a resistivity
high.
Along the three other subparallel vein-breccia structures.
Deeper bonanza-grade feeder zones.
Rosebud historic U/G mine (west of St. Elmo historic mine) along-strike and down-dip
extensions to the historic workings where Homestake Mining sampled up to 54.1 g/t Au and
987.5 g/t Ag (U/G rock chip sample).
Gold-bearing jasperoids and spatially associated antimony occurrences indicate potential
Carlin
-
type gold mineralization.
Geology and Mineralization:
St. Elmo geology includes a thick section of Paleozoic sedimentary rocks and the Prospect Mountain
Quartzite proximal to the Coffeepot stock, a Cretaceous-age quartz monzonite stock, situated north
of the Claims Position. Epithermal gold mineralization at St. Elmo is hosted in a N to NE trending,
1.8m
to
9m
wide, structural zone containing quartz veins and hydrothermal breccias which have
undergone multiple mineralizing events. The district scale, structural trends at St. Elmo may have
formed over a deeper porphyry intrusion, perhaps related to the Coffeepot stock. Free gold occurs
within sulfide minerals and as easily visible particles in the quartz vein and in hematite-cemented,
hydrothermal breccias. Gold is associated with pyrite and copper-bearing sulfide minerals such as
chalcopyrite, digenite, covellite and enargite which are minerals typical of a high-sulfidation
epithermal environment.
Acquisition Terms (in USD):
Black Mammoth optioned 33 federal mining claims (the "St. Elmo Option") from Nevada Select
Royalty Inc. ("Nevada Select") in
November 2024
by making an aggregate of
$75,000
in cash
payments in accordance with the following schedule. The St. Elmo Option was considered a non-
core asset:
Cash Payment
Payment Date
Status
$5,000
at signing
paid
$5,000
1
st
anniversary
paid
$20,000
2nd anniversary
-
$45,000
3rd anniversary
-
$75,000 Total
Nevada Select will retain a 2.5% NSR.
There are no work commitment amounts, finder's fees or share compensation in connection with the
St. Elmo Option.
Diamond Jim Property
The Diamond Jim occupies the NW portion of the Claims Position, is directly west of Rosebud
Mountain and consists of hydrothermal fissure veins and shear zone mineralization that contain silver
and lead sulfides, in addition to zinc, copper, gold and antimony hosted predominantly in phyllite. The
high-grade epithermal mineralization is reported to be along imbricated thrust faults that occur at
right angles to the main contact vein. The silver mineralization occurs as argentiferous galena,
sphalerite and tennantite as cavity filing, minor replacement pockets, stringers and replacement
lenses. Historic mining took place intermittently both U/G starting in the 1950's and open pit during
the 1980's. Minimal modern exploration has occurred at Diamond Jim which is structurally complex
and so it remains poorly understood.
Highlights Include:
Shallow low-grade bulk tonnage mineralization and U/G high-grade mineralization are targets at
Diamond Jim.
Historic estimated resources have been reported but don't comply with NI
43-101 requirements.
The main structure is a NE trending strongly silicified and brecciated vein that dips steeply to the
west with a strike length of at least
2073m
.
The Rosebud Mountain area with historic surface rock chip samples up to 15.4 g/t Au and 3.4
g/t Ag while IP shows a S-SE trending resistivity high.
Acquisition Terms (in USD):
Black Mammoth optioned 5 federal mining claims (the "Diamond Jim Option") from a private vendor
in
April 2024
by making an aggregate of
$28,500
in cash payments in accordance with the following
schedule. The Diamond Jim Option was considered a non-core asset:
Cash Payment
Payment Date
Status
$5,000
at signing
paid
$23,500
90 days from signing
paid
$28,500 Total
There are no royalties, work commitment amounts, finder's fees or share compensation in
connection with the Diamon Jim Option.
The Company also continues to acquire non-core exploration interests in the western US, by
purchase and by staking.
About Black Mammoth Metals Corporation:
In the past 16 months, Black Mammoth Metals has acquired a 100% interest in:
Clover High-Grade Gold property,
Elko County, NV
,
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 consolidated
,
Lander County NV
,
Callaghan Gold
– district consolidated
,
Lander County NV.
Drill results pending at Rast
and Cottonwood targets.
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 drilled approximately
1600m
in
January 2025
to further understand the structure and stratigraphy. Results are pending.
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
Website:
www.blackmammothmetals.com
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:
CO: Black Mammoth Metals Corp
CNW 09:15e 08-APR-25