- Faults spanning the Property indicated with typical
orientation and age to host Carlin-type deposits.
- Numerous magnetic anomalies indicative of shallow intrusive
structures.
- Significant magnetic anomalies indicated at fault
intersections.
VANCOUVER, BC, Feb. 10, 2022 /CNW/ - Black Mammoth Metals
Corporation (TSXV: BMM) (OTC: LQRCF) ("Black Mammoth"
or the "Company") is pleased to announce that the Company's
completed UAV magnetic survey (the "Mag Survey"), covering the
Company's 1113 hectares (2750 acres) 100% owned Happy Cat gold
property (the "Property"), has indicated significant NW trending
faults (the "NW Faults") substantially spanning the Property and
intersecting the known northerly trending high angle faults (the "N
Faults"). Numerous magnetic anomalies indicative of
shallow intrusive structures are present along the N Faults and the
NW Faults with the most significant magnetic anomalies located near
fault intersections (the "Intersections"). At many of the
Intersections there is a significant magnetic low located along the
fault with corresponding magnetic highs located on each side of the
fault suggesting that magnetite associated with an intrusive
structure may have been destroyed by hydrothermal fluids.
The N Faults, NW Faults and their Intersections warrant
follow-up exploration with the intent to refine drill targets,
testing:
- The contact between the intrusive structures and the Paleozoic
sedimentary strata, which includes the lower plate Roberts Mountain
and upper plate Valmy
formations.
- Areas along faults where hydrothermal fluids may have been
present as these fluids are typically associated with gold
mineralization in Carlin-type
deposits. Faulting on the Property is of the correct orientation
and age to have help formed Carlin-type deposits.
The Mag Survey was conducted by MWH Geo-Surveys of Reno, Nevada and covered a total area of over
24 square kms in the southern Ravenswood Mining District at
50m line spacing bearing either east
or west at an elevation of approximately 31m above ground level. Geophysics–Minerals of
Houston, Texas was contracted to
process and interpret the data.
Mark J. Abrams, CPG #11451,
Non-Independent Qualified Person as defined by NI 43-101 and
Director of Black Mammoth has approved the technical information
contained in this news release.
About Black Mammoth Metals Corporation:
Black Mammoth has 11,376,871 shares issued and outstanding,
11,376,871 shares fully diluted.
Along with the Company's 100% owned Happy Cat Gold Property,
subject to underlying royalties, Black Mammoth has a 100% interest,
subject to underlying royalties, in the Blanco Creek gold property
in central Idaho which hosts three
historic underground mines along 3550 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 1.7 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 14th, 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.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President & CEO
Website: www.blackmammothmetals.com (new website coming
soon)
"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." This press release contains
forward-looking statements and forward-looking information
(collectively, "forward looking statements") within the meaning of
applicable Canadian and United
States securities laws. All statements, other than
statements of historical fact, included herein, including
statements regarding the anticipated content, commencement,
duration and cost of exploration programs, anticipated exploration
program results, the discovery and delineation of mineral
deposits/resources/reserves, the timing of the receipt of assay
results, the visual continuity of certain mineralized intervals and
business and financing plans and trends, the potentially open
nature of the mineralized zones on the property and the potential
for future discoveries of additional mineralization on the property
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 those related to weather, equipment
and staff availability; performance of third parties; timing of
receipt of assay results from third party analytical facilities;
risks related to the exploration stage of the Company's projects;
market fluctuations in prices for securities of exploration stage
companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the
Company's ability to identify one or more economic deposits on the
properties, and variations in the nature, quality and quantity of
any mineral deposits that may be located on the properties; risks
related to the Company's ability to obtain any necessary permits,
consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce
minerals from the properties successfully or profitably. 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.sedar.com and readers
are urged to review these materials, including the latest technical
reports filed with respect to the Company's mineral
properties.
SOURCE Black Mammoth Metals Corp