Mammoth Reports Initial Drill Targeting at Its Tenoriba GOLD-Silver Property, Mexico
Exchange Tower
410 - 150 York Street
Toronto, Ontario
M5H 3S5 Canada
www.mammothresources.ca
FOR IMMEDIATE RELEASE: May 13, 2021 No. 11/21
MAMMOTH REPORTS INITIAL DRILL TARGETING AT ITS
TENORIBA GOLD-SILVER PROPERTY, MEXICO
Toronto, Canada (May 13, 2021) - Mammoth Resources Corp. (TSX-V: MTH), (the “Company”, or
“Mammoth”) is pleased to provide an update on its drill targeting activities, the combination of results
from the recently announced initial 2.4 kilometres (km) of the 3-dimensional (3D) drill target modelling
from its infill, Induced Polarization/Magnetometer (IP/Mag) geophysical survey recently completed at its
100% owned Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt, Mexico.
This 3D modelling shows drill target opportunities in at least 4 areas (TA-1 to TA-4) plus enhanced
areas (TA-3(a) and (b)) within larger target areas. These target areas suggest attractive geophysical
features at depths of up to 200 metres (m) and often occur within, and along trend from gold-silver
mineralized intervals in prior drilling and coincides with surface gold-silver mineralization in over 3,000
combined soil and rock chip and channel samples. These target areas extend over 100’s of metres (TA-
4) potentially up to the full 2.4 km of the surveyed and modelled interval (TA-3).
For the location of these target areas please refer to Figure 1 – “ Location Map - Drill Target Areas,
Tenoriba Project (over Magnetic geophysics colour contouring - 50 metre survey depth) .” wherein the
combination of anomalously high IP-geophysical resistivity (anomalously high resistivity areas cross
hatched), chargeability (anomalously high chargeability areas cross hatched) and low magnetic
geophysical features (colour contoured base map, green-blue is low magnetic) are observed from the
recent infill geophysics program, in combination with anomalous gold in soil, rock chip and drill hole
intervals (please refer to the General Description of Target Areas, below in this press release wherein
the indications of these geophysical characteristics are discussed in the context of their application to
the hydrothermal system at Tenoriba and other gold-silver mineralized features).
To view illustrative cross sections cutting two of these target areas, please refer to Figure 2 –
“Illustrative 3D, IP - Resistivity Image - Section 261200E, Looking West, Tenoriba Project. ” and Figure
3 – “Illustrative 3D, IP - Resistivity Image - Section 260000E, Looking West, Tenoriba Project. ” wherein
the combination of gold-silver mineralization can be seen in the surface imaging in relation to the
geophysical features at depth. These sections were selected as they are areas in which prior drilling
intersected potentially economical drill intervals and upon which from Figure 1 the lateral extent of these
geophysical features are traced. The lateral extent of these features can also be seen in the animated
passage through the 3D modelling showing IP-chargeability features coincident with anomalous gold-in-
soil results (refer to the Company’s website: http://www.mammothresources.ca/i/maps_figures/2021-04-
22-MTH-View-From-SE.GIF. to view this animation passing east to west, and
http://www.mammothresources.ca/i/maps_figures/2021-04-22-MTH-SW2.gif. to view this animation
passing south to north (also in the “Projects” section “Maps, Images and Photographs” section, dated
April 22, 2021 on the Company website).
Thomas Atkins, President and CEO of Mammoth commented on the drill target areas identified
from this 3D modelling, stating: "We're very pleased to see such a compelling combination of so
many coincident indications of mineral potential in the numerous, extensive trends we see over this
initial 2.4 kilometres of 3D drill target modelling. Within this initial 2.4 kilometres alone we've identified
four significant trends stretching from hundreds of metres in one instance, to the entire 2.4 kilometres in
another. What’s more, a number of these areas remain open to the east and west along the trend of
mineralization in areas where we're only now completing our 3D modelling of the same, recently
completed infill geophysical survey.
"It’s impossible to show 3D modelling in a 2D press release. However, from the work we’ve performed
it's apparent in all of the target areas identified we have a strong correlation between elevated
chargeability and resistivity geophysical features often combined or adjacent to low magnetic
geophysical features. The high chargeability and resistivity features tend to point to areas of potential
mineralizing hydrothermal activity, while the low magnetic features point to areas of potential depletion
of magnetic minerals a result of hydrothermal destruction by the heat source responsible for the
mineralizing system at Tenoriba. These geophysical characteristics are made even more compelling
where, in two areas prior drilling intersected potentially economical gold-silver grades over tens of
metres, and these target areas remain open along trend where an abundance of surface gold-silver
occurs in soil, chip and channel sampling.
"Next steps in this drill location targeting will be to complete the combined surface, drill and 3D
geophysical modelling over the remaining approximate two kilometres of the infill geophysical surveyed
area and then to perform this same targeting exercise over this area. From this modelling and target
area generative work final drill location selection, for what we hope to be up to a 50-hole diamond drill
program, will be assessed in the field for the best accessible drill sites. Mammoth intends to drill these
targets with a portable drill rig which facilitates relatively easy drill rig access. Drilling within this 2.4-
kilometre area is fully permitted and surface access permits exist for what is expected to be the duration
of this initially planned, up to 50-hole program."
Description of Target Areas:
Mammoth is selecting drill targets based on a number of criteria available as a product of its field
activities mapping, sampling, performing geophysics and drilling at Tenoriba over a 7 km trend of gold-
silver and copper mineralization. The Company is planning to drill up to 50 drill holes in an upcoming
exploration program to test target areas over this trend with the intention to specifically spot drill holes
following field verification of location and surrounding surface attributes. Initially Mammoth envisages
drilling an initial 2 to 4 holes in each target area and upon completion of these initial holes in each area,
logging and sampling these holes while another target area is drilled in order to determine the results of
these initial 2 to 4 holes prior to returning to further test each individual area. Target areas are defined
by a combination of the following features:
Total of almost 3,000 gold in soil samples covering over 7 km of the mineralized trend - highest
grade sample assaying 6.3 grams per tonne (g/t) in soil (refer to press release dated April 15,
2021).
Surface rock chip and occasional grab samples which total over 750 samples covering an east-
west, 6 km trend of surface gold-silver mineralization - highest grade sample assaying 74 g/t gold.
A total of 151 m along 14 cut surface channels - best interval totalling 13.5 m grading 1.5 g/t
gold
Ubiquitous artisanal mine workings over the 7 km trend of surface mineralization.
Prior diamond drilling in 26 holes dispersed over approximately 4 km of the surface mineralized
trend – refer to Figure 1 - Location Map - Drill Target Areas, Tenoriba Project (over Magnetic
geophysics colour contouring), including 25 m grading 4.0 g/t gold equivalent (silver converted to
gold whereby 75 g/t silver = 1.0 g/t gold) and 127 m grading 0.5 g/t gold equivalent
High IP-resistivity areas potentially indicative of presence of highly resistive hydrothermally
emplaced silica, including Vuggy silica, high IP-chargeability areas potentially indicative of gold-
silver and/or gold-silver mineralizing sulphides and low magnetic areas potentially indicative of
heat destruction of magnetic minerals due to the heat source responsible for the hydrothermal the
mineralization at Tenoriba.
Anomalous ISM (Index of Smectite Maturity) samples, wherein the hydrothermal destruction of
certain minerals within the rocks at Tenoriba have been altered in such a manner that they have
produced certain clay minerals of which various types (dickite, pyrophyllite, alunite) are indicative of
high temperature alteration and assist in vectoring to the most active areas of the hydrothermal
system at Tenoriba.
Target Area 1:
This target area appears to extend for at least 1 km east-west and open further to the west. This target
area is characterized by a combination of:
1) presence of silicified volcanic breccia host rocks,
2) high IP- resistivity and chargeability features,
3) is near a geophysical magnetic low adjacent to magnetic high, potentially indicating proximity to
hydrothermal heat source, and
4) numerous gold-silver mineralized artisanal workings.
Target Area 2:
This target area appears to extend for at least 1 km east-west in a northeast-southwest trend and is
open to the east. This target area is characterized by a combination of:
1) follow up on successful drilling at TEN 17-06 - 127 m grading 0.52 g/t gold equivalent (including 7.2
g/t silver), which may not have intersected the best geophysical features now evident in this area.
2) Very good surface geology and surface gold-silver samples (rock and soil samples) with presence
of silicified volcanic breccia host rocks to the east,
3) high IP-chargeability open to the east and weak but anomalous IP-resistivity geophysical features,
4) is near a geophysical magnetic low adjacent to magnetic high, potentially indicating proximity to
hydrothermal heat source, and
5) association with attractive ISM anomalous features further supporting thesis of proximity to
hydrothermal heat source.
Target Area 3:
This large target area has the potential to extend for the entire 2.4 km area of modelling and is open to
the east and west beyond the modelled area. Within this larger overall trend there appears areas of
heightened concentration of attractive attributes, including prior diamond drill results. Broken into its
smaller sub-areas, this target area is characterized by:
Area 3(a) extending 1.5 km east-west:
1) Many high grade to highly anomalous prior drill results, including: TDH-07 assaying 4.0 g/t gold
equivalent (with 6.8 g/t silver) over 25 m, TDH-11 assaying 0.9 g/t gold over 41 m, TDH-15 assaying
0.7 g/t gold equivalent (with 4.6 g/t silver) over 12 m, TDH-04 assaying 0.8 g/t gold over 18 m, and
TEN 17-05 assaying 1.3 g/t gold over 23 m sporadically testing a 500 m interval within this target
area and open to the south, east and west,
2) Numerous very high gold in soil samples with sporadic anomalous rock chip samples,
3) high IP- resistivity and chargeability features,
4) follows the north flank of a magnetic low potentially indicating proximity to hydrothermal heat source, and
5) association with attractive ISM anomalous features further supporting thesis of proximity to
hydrothermal heat source.
Area 3(b) extending 0.4 km east-west and open to the east:
1) Numerous high gold in soil samples with sporadic anomalous rock chip samples,
2) high IP- resistivity and chargeability geophysical features,
3) combination of magnetic low and high features with IP-resistivity and chargeability indicating
proximity to hydrothermal heat source, and
4) associated with attractive ISM anomalous features further supporting thesis of proximity to
hydrothermal heat source.
Target Area 4:
This area extends for 0.3 km and is open to the east. It is characterized by numerous artisanal workings
and high IP-resistivity and chargeability geophysical features. This area hasn’t undergone as much
study as other areas, however the geophysical features remain open to the east and should undergo
further evaluation once the geophysical modelling, currently underway, is extended further east.
As part of its first quarter 2021 surface exploration program Mammoth completed detailed confirmation
geological mapping and expanded soil sampling with an infill IP/Mag geophysical survey and 3D drill
target modelling. The IP/Mag infill geophysical survey is designed to cover most of the 60% of the 6-
kilometre trend of surface mineralization not previously covered by the Company’s earlier 2013 IP/Mag
survey. This work follows up 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 2.4 km of 3D modelling of the geophysical data is now complete. Mammoth is working closely
with Intelligent Exploration (IE) geophysicists to model the IP/Mag geophysical characteristics of the
rocks in this area employing 3D modelling to integrate a combination of surface and drill data to assist in
identifying attractive targets to identify the continuity of 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.
Qualified Persons:
The IP/Mag survey was conducted 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 - Drill Target Areas, Tenoriba Project (over Magnetic geophysics colour contouring - 50 metre survey depth)
Figure 2 - Illustrative 3D, IP - Resistivity Image - Section 261200E, Looking West, Tenoriba Project.
Figure 3 - Illustrative 3D, IP - Resistivity Image - Section 260000E, Looking West, Tenoriba Project.