Mammoth Resources Reports Average 0.77 Grams per Tonne Gold Equivalent over a Total of 129 Metres in Surface Trenching Channel Sampling Program at Its Tenoriba Precious Metal Property, Mexico
Mammoth Resources Reports Average 0.77 Grams per
Tonne Gold Equivalent over a Total of 129 Metres in
Surface Trenching Channel Sampling Program at Its
Tenoriba Precious Metal Property, Mexico
Toronto, Ontario--(Newsfile Corp. - September 21, 2017) -
Mammoth Resources Corp. (TSXV: MTH
), (
the
"
Company
"
)
is
pleased to announce results from the final 2 surface channels cut and sampled at its Tenoriba precious metal property in
Chihuahua State, Mexico and average grade of the various channels cut during this program. The most recent results are from
the Los Carneritos and the Cerro Colorado areas, two gold-silver mineralized areas at Tenoriba separated approximately 5
kilometres one from the other (refer to Figure 1 - Tenoriba Channel Location Map), results of which are shown in Table 1 -
Channel Sample Results and are summarized in the table below (most recent results shown in
bold text
),
together with
previously reported results from this program. A more detailed image of Carneritos 6 trench location can be seen in Figure 3 -
Los Carneritos Channel Location Map in the press release dated August 22, 2017.
The average grade of the channel samples cut was
0.77 grams/tonne
(g/t) gold
equivalent
(assuming a silver : gold ratio of
75 : 1)
over a total of 129.0 metres
cut at
12 locations
over more than a 5 kilometre strike length throughout the 15 square
kilometre area of precious metal mineralization at Tenoriba, after withholding two low grade channels; Carneritos 5 (11.9 metres
grading on average 0.08 g/t gold equivalent) and Masuparia 3 (12.0 metres grading on average 0.12 g/t gold equivalent).
Thomas Atkins, President and CEO of Mammoth commented on
the channel sample results
stating
:
"
With
all
14
channel sample results reported
we'
re
pleased to be able to report an average grade of 0.77 grams per tonne gold equivalent
over 129 metres of channel sampling in 12
of the 14 channels. Two low grade channels were discarded from this averaging
while the 12
channels
remaining were distributed
over more than a 5 kilometre
strike length within the 15 square kilometre
area of
precious metal
mineralization at Tenoriba. These are excellent results with lengthy channels separated from one
another by hundreds of metres
with
an average
precious metal
grade
as much as 80% above the reserve grade of profitable
open pit heap leach min
es currently operating
in Mexico
.
Based on these results
,
and results from other prior surface work
,
the company is well underway to
prioritiz
ing
diamond drill targets for a drill program planned for later this year.
While t
he
company had previously planned to drill approximately 15 holes totaling
2,500 metres,
given the current relatively weak
share price
it
now plans a smaller, initial program with a capital raise of
approximately
half of its prior objective
. Mammoth
expects to announce
its
various drill targets in a press release and summary internal report in the coming weeks prior to the
initiation of the drill program.
"
The Company announced earlier this year its plans to embark on a program of infill PIMA sampling, drill road construction and
channel sampling to better define drill targets which followed prior surface sampling and an IP and Magnetometer geophysics
survey over a prospective 15 square kilometre area at Tenoriba. Mammoth has sampled gold ubiquitously over the property
reporting results as high as 74 g/ and in numerous intersections in 15 prior drill holes, the highest grade of which was 45.6 g/t
gold over 1.9 metres of drill core. The Company cut 14 channels totaling almost 200 metres in length (samples below 0.18 g/t
gold equivalent at either end of a channel were discarded as being below a potentially reasonable economic cut-off level based
on resource cut-off grades of open pit heap leach mines in Mexico) with 139 samples from this program analyzed for gold, silver
and multi-elements in the Cerro Colorado, El Moreno, Masuparia and Los Carneritos areas on the property (refer to Figure 1 -
Channel Sample Location Map).
Results from this channel sampling program correspond well with geophysical features extending at depth below these channel
samples and this correlation will be used to assist in locating attractive drill targets with the objective of extending surface results
at depth and potentially begin to build a mineral resource at Tenoriba.
Location
Sample
Numbers
Channel
Width
(m)
True
Width
(m)
Weighted
Average
Gold Grade
(g/t)
Weighted
Average
Silver Grade
(g/t)
Weighted
Average Gold
Equivalent*
Grade
(g/t)
El Moreno 1
330732 to 330740
13.6
11.5
0.64
2.5
0.67
El Moreno 2
330789 to 330800
16.5
16.0
0.38
4.3
0.44
El Moreno 3
330656 to 330659
6.0
5.0
0.28
0.6
0.29
El Moreno 4
330685 to 330673
12.0
11.0
0.23
9.7
0.36
Carneritos 1
330743 to 330750 &
330754 to 330756
15.7
15.5
0.99
6.1
1.07
Carneritos 2
330757 to 330761
7.4
7.0
1.28
8.2
1.36
Carneritos 3
330762 to 330770
13.5
13.5
1.50
3.4
1.55
Carneritos 4
330695 to 330700 &
330801
10.0
10.0
0.42
7.2
0.51
Carneritos 5
330802 to 330811
11.9
11.9
0.05
0.01
0.08
Carneritos 6
330812 to 330816
6.2
6.2
0
.88
4.4
0
.94
Masuparia 1
330677 to 330685
13.1
13.1
0.66
0.9
0.67
Masuparia 2
330689 to 330694
6.4
6.4
0.47
10.0
0.61
Masuparia 3
330819 to 330826
12.0
9.7
0.11
1.0
0.12
Cerro Colorado
330827 to 330831
6.8
6.4
0.54
1.9
0.57
TOTAL LENGTH
:
151.1
WEIGHTED
AVERAGE
GRADE
:
0.6
6
Any gold samples assaying greater than 10 g/t gold were reduced ("cut") to 10 gpt gold in any averaging.
* Gold Equivalent wherein silver grade is converted to gold grade at 75 g/t silver = 1 g/t gold.
Qualified Person / Quality Controls:
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 reviewed any technical data
mentioned in this news release. Samples referenced in this press release were prepared and analyzed by ALS CHEMEX in
their facilities in Mexico and Canada, respectively. Samples generally consisted of over a minimum of 2 kilograms of material.
Gold and silver analyses were performed by 30 gram fire assay with an Atomic Absorption finish
.
Silver, copper, lead and zinc
were analyzed as part of a multi-element ICP package using an aqua regia digestion. Over limit samples with greater than
1% Cu, Pb and Zn were re-analyzed using ore grade detection limits.
Blank and duplicate samples were inserted randomly at
approximately every
20
samples.
About Mammoth Resources:
Mammoth Resources Corp.
(TSXV:
MTH)
is a mineral exploration company focused on acquiring and defining precious metal
resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company has an option to acquire
100% of the Tenoriba Property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The
Company continues to seek other option agreements in the Americas on other 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
.
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.
Table 1 - Channel Sample Results
Sample No.
Location
Sample
Length
(m)
Gold
Grade
(g/t)
Silver
Grade
(g/t)
Gold Equivalent
Grade
(g/t)
Weighted Gold
Equivalent
Grade
(g/t)
330812
Carneritos 6
0.85
0.23
8.40
0.33
0.29
330813
"
1.50
0.14
0.60
0.16
0.23
330814
"
1.50
2.92
9.70
3.11
4.60
330815
"
0.80
0.60
3.40
0.63
0.52
330816
"
1.50
0.11
1.00
0.13
0.19
Total
6
.
1
5
0.
94
True
Width
6.
1
5
330827
Cerro Colorado
1.50
0.33
6.30
0.42
0.58
330828
"
1.50
0.35
3.60
0.40
0.58
330829
"
1.50
0.47
0.75
0.48
0.72
330830
"
1.50
1.14
1.65
1.16
1.73
330831
"
0.80
0.29
0.72
0.30
0.
25
6.80
0.
57
True
Width
6.40
Figure 1
-
Tenoriba
Channel
Location Map
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/3798/29164_a1505978828877_34.jpg
For more information please contact:
Thomas Atkins
Tel: 416-509-4326