Mammoth Resources Announces Drill Targets for Upcoming Diamond Drill Program at Its Tenoriba Gold Project, Chihuahua, Mexico
Mammoth Resources Announces Drill Targets for
Upcoming Diamond Drill Program at Its Tenoriba Gold
Project, Chihuahua, Mexico
Toronto, Ontario--(Newsfile Corp. - October 25, 2017) -
Mammoth Resources Corp. (TSXV: MTH
) (
the
"
Company
"
)
, is
pleased to announce a diamond drill program from 8 to 24 high priority targets planned to commence in November 2017 on its
Tenoriba gold-silver property in Chihuahua State, Mexico (the project was drilled by a predecessor company in 2008 which
reported gold intersections in 10 of 15 holes drilled).
Mammoth has targeted its drill holes based on what it believes is a compelling combination of: (1) surface geology, (2) trace
element geochemistry, (3) gold bearing samples from chip and cut channels over a large 15 square kilometre area of gold
mineralization, (4) PIMA sampling results indicating proximity to high temperature geothermal activity coincident with surface
gold values, and (5) a ground Induced Polarization (IP) and Magnetometer (Mag) geophysics survey which illustrates attractive
geophysical features at depth coincident with surface gold mineralization, artisanal workings and in some cases intersected at
depth by a predecessor company's drilling (the highest grade intersection assaying
45.9 grams/tonne gold over 1.9 metres
in
drill hole 7 and the lengthiest gold intersection assaying
34.4 metres grading 1.03 grams/tonne gold
in drill hole 11 and
66
metres grading 0.5 grams/tonne gold
in drill hole 14) (for additional information on these results please feel free to reference
the technical reports available on the Company's website at the following link:
http://www.mammothresources.ca/s/TechReports.asp
.). Mammoth intends to post a technical report on its drill target selection at
the same "Technical Reports" location on the website in the coming days. A number of these drill hole locations are discussed
and illustrated in the following commentary.
Thomas Atkins, President and CEO of Mammoth commented on
the
drill targeting
stating
:
"
We've
completed the
consolidation of
all
surface
results from the various
exploration
activities
on the property
. This
work has enabled Mammoth
to
identify
what we feel are the
most compelling
drill targets
to test
gold
mineralization over an approximate
6
-
kilometre strike
length
of
surface
gold
mineraliz
ation
with
in
the
High Sulphidation
,
precious metal mineralizing system
at Tenoriba
.
"A
unique
feature
to
some
of
the
proposed
targets
is
they
occur as
extensions
or within geological features where prior drilling
intersected gold
over tens of metres
.
A
t the time of th
e
earlier
drilling
,
those
undertaking this
drilling
didn't have the benefit of
the
geophysics
survey
recently completed by Mammoth
. The geophysics
survey which covers half of the property
gives
information on
the characteristics of the
geology below
surface
in areas
wher
e
favourable
surface
geology
and
hundreds of
gold samples
have been collected over a large 15 square kilometre area of mineralization
, the highest grade of which
assayed
74 grams/tonne gold
, with another approximate 10 samples averaging from 10 to 47 grams/tonne gold
.
"Mammoth believes
there is excellent potential for
success in the proposed
drill program
given the
combination of the
surface
geolog
y and
gold values
correlating
with geophysical features at de
pth, and especially where earlier drilling
intersected gold over tens of metres in similar geophysical features as those
targeted in the Company's
proposed program.
"
The Company plans to drill from 3 to 7 diamond drill holes in each of the El Moreno and Masuparia areas and from 5 to 10 drill
holes in the Carneritos area for a total of from 8 to 24 high priority drill holes (refer to drill collar locations; black being top priority
drill locations and grey additional high priority targets in
Figure 1
-
Surface
Plan, Prop
osed Drill
Collar Locations
). The
Tenoriba project is fully permitted with surface access agreements in place for the immediate commencement of drilling. The
drill contractor has been selected and is finalizing details of mobilization to the project area and has elected to accept up to 60%
of the cost of the proposed program (to a maximum of less than 10% of the outstanding shares of the company) in shares of
Mammoth, subject to TSX approval.
Petrographic analysis of gold at Tenoriba indicates its occurrence as free gold. Bottle roll testing on samples collected at
various depths and grades from drill core from the prior drilling resulted in 100% gold recovery in less than 24 hours to a vertical
depth of 60 metres and recoveries of 65% to 70% in 72 hours to depths of 125 metres (the deepest core depth available).
Subject to more extensive testing and verification it would appear from these results that gold at Tenoriba may be recoverable by
low cost heap leaching methods implying the potential that should an economic resource be discovered at Tenoriba this
resource may be amenable to low cost open pit mining and heap leach gold recovery.
Masuparia Area Drill Targets
:
From 3 to 7 drill holes are targeted in the Masuparia area located near the middle of the approximate 6-kilometre trend of gold
mineralization at Tenoriba (refer to Figure 1). Section 259800E - IP resistivity geophysics section (refer to
Figure 2
-
Masuparia Area IP Resistivity
Section with
Historical and Proposed Drillin
g
), illustrates the trace of the proposed drill hole
MAS-01 together with prior drilling (another 2 high priority drill holes are planned for this area). The areas of highest initial
interest within the 600 metres east-west area covered by the geophysics survey is focused on gaps near prior drilling within and
along an approximate 750 m long northwest trending corridor of gold mineralization and where there are a number of artisanal
workings, portions of which were intersected by 7 prior drill holes, including TDH 11 and 15 along this section in which TDH 11
intersected
39.7 metres grading 0.44 g/t gold
and
34.4 metres grading 1.03 g/t gold
and TDH 15 intersected
12 metres
grading 0.64 g/t gold
in areas indicated by high resistivity in the IP geophysics.
El Moreno Area Drill Targets
:
From 3 to 7 drill holes are targeted in the El Moreno area located approximately one kilometre east of the western end of the 6-
kilometre trend of gold mineralization at Tenoriba (refer to Figure 1). Section 258400E - IP resistivity geophysics section (refer
to
Figure 3
— El Moreno
Area IP Resistivity
Section with
Historical
Sampling
and Proposed Drilling
), illustrates the
trace of proposed drill holes M-01, M-02 and M-04 testing high resistivity (white through light blue to light yellow colours on
section) targets to depths of in excess of 100 to 200 metres where surface geology, sampling results, including
5.8 metres
grading 2.78 g/t gold, 3.3 metres grading 4.04 g/t gold and an 8.5 metre long channel which averaged 0.86 g/t gold
and extensive artisanal workings are prominent. Another diamond drill hole 100 metres east of these holes will result in a total of
200 metres of strike length being tested in this area, the surface and geophysical features remain open to the east towards the
Masuparia area while to the west these features could extend at least one kilometre to the Cerro Colorado area where gold has
also been sampled on surface.
Los Carneritos
Area Drill Targets
:
From 5 to 10 drill holes are targeted in the Los Carneritos area located at the eastern end of the 6- kilometre trend of gold
mineralization at Tenoriba (refer to Figure 1). Section 261200E - IP resistivity geophysics section (refer to
Figure 4
- Los
Carneritos
Area IP Resistivity
Section with
Historical
Sampling
and Proposed Drilling
), illustrates the trace of proposed
drill hole CAR-01 testing high resistivity (white through light blue to light yellow colours on section) from surface to a vertical depth
of approximately 150 metres where favourable surface geology and sampling results, including:
15.75 metres grading 1.07 g
/t
gold,
7.2 metres grading 1.6
g/t gold and
a 5 by 5 metre 67 sample grid
averaged 0.56
g/t gold
.
Another 4 top priority
diamond drill holes are targeted for this area and another 5 high priority targets are planned to test an area approximately 600
by 1,200 metres in this area to depths of in excess of 100 metres.
Richard Simpson, P.Geo., Vice-President Exploration for Mammoth Resources Corp. is Mammoth's Qualified Person,
according to National Instrument 43-101, for the Tenoriba property and is responsible for and has approved all scientific and
technical data mentioned in this news release.
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 tel:416-509-4326, or:
.
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
-
Surface
Plan, Proposed Drill
Collar
Locations
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/3798/29944_a1508946408361_94.jpg
Figure 2
- Masuparia Area IP Resistivity
Section with
Historical and Proposed Drilling
To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/3798/29944_a1508946408642_75.jpg
Figure 3
-
El Moreno
Area IP Resistivity
Section with
Historical
Sampling
and Proposed Drilling
To view an enhanced version of Figure 3, please visit:
http://orders.newsfilecorp.com/files/3798/29944_a1508946408861_94.jpg
Figure 4
-
Los Carneritos
Area IP Resistivity
Section with
Historical
Sampling
and Proposed Drilling
To view an enhanced version of Figure 4, please visit:
http://orders.newsfilecorp.com/files/3798/29944_a1508946409079_74.jpg