TORONTO, March 01, 2018 -
Mammoth Resources Corp. (TSX-V:MTH) (the “Company”) is pleased to announce results from two additional diamond drill holes on its Tenoriba precious metal property in southwestern Chihuahua State, Mexico. The results are for the third hole in the El Moreno area of the property; TEN 17-03, and the first hole at the Masuparia area of the property; TEN 17-05, located 1.3 kilometres west of the El Moreno area. Complete results are still pending for hole TEN-17-04, also in the Masuparia area of the property. Mammoth will be at the Prospector and Developers Convention in Toronto sharing booth number 2344 where President and CEO Thomas Atkins will have core samples illustrating mineralization at some of these intersections and can provide an update following his recent trip to the project (photos from this field trip are available on the Company's web site under the 'Projects' section, 'Maps, Images and Photographs'.
Results are shown in the table below and drill hole locations and sections illustrating the location and depth of the mineralized intervals relative to the geophysical features and topography of the area are available on the Company's website under the 'Projects' section 'Maps, Images and Photographs'.
| | | | | |
Weighted
Average
Gold |
Weighted
Average
Silver |
Weighted
Average
Copper | Weighted
Average
Gold
Equivalent* |
| Location | Hole Number | From | To | Total | Grade | Grade | Grade | Grade |
| | | (m) | (m) | (m) | (g/t) | (g/t) | (%) | (g/t) |
| El Moreno | TEN 17-03 | 85.0 | 92.2 | 7.2 | 0.23 | 36.3 | 3.59 | 4.34 |
| Masuparia | TEN 17-05 | 28.0 | 55.0 | 27.0 | 0.51 | 0.1 | | 0.63 |
| | (including) | 46.6 | 55.0 | 8.4 | 1.30 | 0.1 | | 1.39 |
| | | 70.0 | 93.5 | 23.5 | 1.30 | 1.3 | | 1.32 |
| | (including) | 83.5 | 93.5 | 10.0 | 2.89 | 3.17 | | 2.93 |
| | (including) | 86.5 | 92.0 | 5.5 | 4.92 | 5.15 | | 4.99 |
* Gold Equivalent wherein silver grade is converted to gold grade at 75 g/t silver = 1 g/t gold and 15.3 lbs Cu = 1.0 g/t Au.
Lengths shown are core lengths versus perpendicular true length of mineralized intersections.
Thomas Atkins, President and CEO of Mammoth commented on drill results stating: “We continue to be very pleased with the results from this drill program. I can't stress enough the steep learning curve we're climbing with each hole we drill and as we continue to intersect mineralization we continue to unravel the controls to the mineralization at Tenoriba. The objective of this drill program is to test for the first time the depth extension of various areas of surface mineralization along portions of a 6 kilometre trend identified by Mammoth and how these intersections fit into the large High Sulphidation system at Tenoriba. These results assist the company in identifying characteristics and continuity at depth of potentially economical surface mineralization along this 6 kilometre trend and position us for follow-up drilling to identify a mineral resource at Tenoriba.
"Drill hole TEN 17-03 grading 0.75 grams per tonne gold equivalent and 3.59 percent copper over 7.2 metres is a 100 metre step out to the east of hole TEN 17-01 where 0.79 grams per tonne gold equivalent over 30 metres was announced on January 23rd. What was surprising about this intersection was the presence of high grade copper which we believe is indicative of proximity to a likely porphyry copper source of gold and silver mineralization at shallower elevations elsewhere in the system occurring here representing deeper levels here due to faulting. This intersection follows a geophysics anomaly at El Moreno over the full 200 metres east-west strike length where Mammoth surveyed only 3 geophysical lines. TEN 17-01 and TEN 17-03 remain open both to the east and to the west and Mammoth intends to extend the geophysics coverage in these areas to assist identifying other targets along this trend.
"Drill hole TEN 17-05 is a 50 metre step out to the north of hole TDH-07 drilled in 2008 which assayed 2.35 grams per tonne over 47 metres, including 5.33 grams per tonne gold over 4 metres. Hole TDH-07 was a very good intersection and as such it was an attractive target to test a theory as to its extension and continuity attempt a step-out to demonstrate continuity of this structure. The structure intersected in these holes can be followed on surface for a strike length of 800 metres to the north and may also intersect a roughly east-west geophysical feature in this area. Mammoth intends to test these targets further as part of the current drill program with current drill road access enabling testing approximately 200 metres of these features."
TEN-17-03
Based on the intriguing results from TEN-17-01, the first drill hole ever drilled at El Moreno where 0.79 grams per tonne ("g/t") gold equivalent over 30 metres ("m") was announced on January 23rd, Mammoth made an aggressive 100 m step-out to the east to the edge of the geophysics coverage at El Moreno. Hole TEN-17-03 approached the feature intersected in TEN-17-01 from the south drilling towards the north in order to avoid a fault intersected in hole TEN 17-01. It is believed the presence of high grade copper with gold and silver is indicative of the downward movement of stratigraphy and a deeper sourced feeder from what may well be a porphyry copper source to the gold mineralization at Tenoriba. Mammoth is keen to investigate as part of this program a more strongly conductive unit to the east of hole TEN-17-02 which intersected 80 m grading 0.18 g/t and which is closer to the Cerro Colorado area approximately 1.0 kilometre west of El Moreno where Mammoth sampled the greatest intensity and concentration of alteration clays indicative of proximity to an intense hydrothermal process.
TEN-17-05
Drill hole TEN 17-05 is a 50 m step out to the northwest of hole TDH-07 drilled in 2008 which assayed 2.35 g/t over 47 m, including 5.33 g/t gold over 4 m. The structure intersected in these holes can be followed sporadically on surface via old artisanal workings, trenches and outcrops for a strike length of 800 m to the north. An approximate east-west geophysical feature over at least 300 m occurs in this same area and this too may be contributing to mineralization in this intersection. Mammoth intends to test these targets further as part of the current drill program where current drill road access would permit up to 200 m of these features to be tested.
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. Please refer to the Company's website under the "Projects" section for a description of the Company's complete QA/QC procedures.
About Mammoth Resources:
Mammoth Resources Corp. (TSX-V: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., 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. 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. Please refer to the Company’s website at the following link:
http://www.mammothresources.ca/s/FAQ.asp to review the Company’s complete forward looking statement.
