Black Mammoth Metals Samples up to 2160 g/t Ag and 20% Pb at Leadore, Idaho
Black Mammoth Metals Samples up to 2160 g/t
Ag and 20% Pb at Leadore, Idaho
VANCOUVER, BC
,
Nov. 25, 2024
/CNW/ -
Black Mammoth Metals Corporation
(TSXV: BMM)
(OTC: LQRCF)
("Black Mammoth" or the "Company")
is pleased to announce silver, lead and
gold values from rock chip sampling at its Leadore Silver-Lead property ("Leadore") in
Lemhi
County, Idaho
. The new samples containing up to 2160 g/t (69.7 opt) silver and over 20% lead are
accompanied by gold grades ranging from hundreds of ppb to 1 g/t (see Table 1). These samples
confirm historical mining and drilling data, and the Company plans to evaluate the Property for a
potentially larger and higher-grade target.
Location:
The
Leadore
property with the historical
Leadville
,
Kimmel and Baby Joe
mines is located in the
Junction Mining District in
Lemhi County
and is situated along the southwestern base of the
Beaverhead Mountains, 80 kms SE of
Salmon
, Idaho (see Figure 1). Leadore has year-long access
and is adjacent to a paved highway.
Claims Position:
The Company has recently expanded the
Leadore
claims position through staking, now totaling 74
Federal lode mining claims (1528 acres, 618 hectares approximately). The claims in the area of
known mineralization and near the three historical mines are administered by the Bureau of Land
Management, with part of the current claims position administered by the US Forest Service.
Past Operators:
The
Leadville
mine was established in 1904, and the first recorded production was in 1907 when a
high-grade shipment was made. The three mines were operated intermittently and on a small scale
until 1930. In 2012, an operator drilled six core holes to confirm historic drill assays and to test the
size and extent of disseminated silver-lead mineralization in the footwall of the
Leadville
fault. The
drilling was successful in achieving these goals and a new high-grade silver-lead mineralized zone
was discovered.
Mineralization:
The silver-lead mineralization appears to be associated with a microbrecciated and sheared
cataclastic granite porphyry along the contact with the underlying carbonate rocks. It is believed that
the main mineralized zone remains open down-dip of this interpreted shear zone with repeated
mineralized parallel structures possible along the range front.
Black Mammoth intends to conduct an Induced Polarization (IP) survey in 2024 and
additional sampling and mapping campaigns to refine drill targets.
Acquisition Terms (in USD):
Black Mammoth optioned 11 federal mining claims (the "Option") from a private vendor (the
"Vendor") in
April 2024
, covering the area of known mineralization around the three historical mines
by making an aggregate of
$100,000
in cash payments in accordance with the following schedule.
The Option was considered a non-core asset:
Cash Payment Payment Date Status
$10
,000 at signing paid
$30
,000 1
st
anniversary -
$30
,000 2nd anniversary -
$30,000
3rd anniversary -
$100,000
Total
There are no royalties, work commitment amounts, finder's fees or share compensation in
connection with the Option.
Sampling Program:
The sampling program consisted of 38 rock chip samples collected and delivered to ALS Global in
Elko, NV
during
October 2024
; and analyzed using the following prep and analytical procedures as
described in the ALS Global 2024 price list: Prep 31Y, Au-ICP22 (Using a 50gram charge, FA ICP-
AES finish), ME MS41 (Ultra Trace ICP-MS). Over limit samples for Ag also were analyzed using
Ag-OG46 and Ag-GRA21(30gram charge FA-Gravimetric finish). Over limit samples for Pb were
analyzed using Pb-0G46.
Figure 1. Location of the Leadore property, Lemhi County, Idaho. (CNW Group/Black Mammoth
Metals Corp)
Table 1. Significant silver, lead and gold values from sampling program at Leadore, 2024. (CNW
Group/Black Mammoth Metals Corp)
Figure 2. Rock samples from the Leadville pit, 2024. (CNW Group/Black Mammoth Metals Corp)
Figure 3. Cross-cutting, oxidized structures (8.48 g/t Ag & 1.63% Pb) in Leadville pit, 2024. (CNW
Group/Black Mammoth Metals Corp)
About Black Mammoth Metals Corporation:
In 2024, Black Mammoth Metals acquired a 100% interest in:
East Reveille Gold property
,
Nye County, NV
,
America Mine Gold
property
,
San Bernardino, CA
,
Quito Gold property
,
Lander County, NV
South Ravenswood
and
Callaghan Gold
districts
,
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
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 13:43e 25-NOV-24