Black Mammoth Metals Acquires East Reveille Gold Property No.24-17 BMM: TSX-V
Black Mammoth Metals Acquires East Reveille
Gold Property
No.24-17
BMM: TSX-V
VANCOUVER, BC
,
Nov. 19, 2024
/CNW/ -
Black Mammoth Metals Corporation
(TSXV: BMM)
(OTC: LQRCF)
("Black Mammoth" or the "Company")
is pleased to announce that on
November
14, 2024
Antelope Creek Gold Corporation ("Antelope Creek"), a wholly owned subsidiary of Black
Mammoth, has entered an agreement to purchase ("Agreement") the East Reveille Gold property
("East Reveille") with a private vendor ("Vendor") providing Antelope Creek with a 100% interest in
East Reveille,
Nye County, Nevada
.
East Reveille is located 67 miles east of
Tonopah
and consists of 13 federal mining claims (108
hectares, 268 acres), administered by the Bureau of Land Management, covering the east side of
the Reveille Mining District (see Figure 1). Historic drilling has discovered gold associated with
rhyolite dikes and tuffs that contain anomalous arsenic and antimony mineralization like a
Carlin
-type
gold system, as well as gold mineralization along the altered contact of silicified siltstone and
limestone sequences (jasperoids) of the underlying Antelope Valley Formation. Significant
molybdenum and copper geochemistry indicates an associated porphyry target. Gold mineralization
occurs over an area of at least 2,400 meters (7,874 feet) by 1,200 meters (3,937 feet) with a
vertical range of at least 300 meters (984 feet) in the Antelope Valley Formation, a known host for
Carlin
-type deposits. Large areas of jasperoid development have gold and arsenic values in altered
carbonate sediments beneath overlying altered rhyolite tuffs (see Figure 2). Historical drill holes
indicate thick zones of highly anomalous gold with higher grade gold intercepts of
7.62 meters (25
feet) of 0.9 g/t and 4.57 meters (15 feet) of 1.25 g/t.
As gold mineralization is associated with the rhyolites, the entire property can be considered
prospective, prompting Black Mammoth Metals to plan detailed mapping and sampling of the rhyolite
caprock to guide a new phase of drilling in 2025.
Acquisition Terms (in USD):
Under the terms of the Agreement, Antelope Creek may purchase East Reveille by making a cash
payment of
$75,000
(paid) at which time a 100% interest will automatically vest.
Upon the Company declaring a 43-101 compliant maiden resource at East Reveille,
$75,000
will be
payable within 30 days and another
$75,000
will be payable within one year. These payments do not
have an expiry date and will not apply to subsequent resources declared on the Property.
There are no retained royalties, work commitment amount, finder's fees or share compensation in
connection with the Agreement.
Figure 1. Location of the East Reveille project in Nye County, Nevada. (CNW Group/Black Mammoth
Metals Corp)
Figure 2. Silicified and gold-mineralized carbonates at East Reveille. (CNW Group/Black Mammoth
Metals Corp)
About Black Mammoth Metals Corporation:
In 2024, Black Mammoth Metals has acquired a 100% interest in the
America Mine gold property
,
San Bernardino, CA
, the
Quito
gold property
,
Lander County, NV
and has consolidated
South
Ravenswood
and
Callaghan gold Districts
, also in
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 prioritize drill
targets within the alteration area.
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 08:45e 19-NOV-24