No.24-13
BMM:
TSX-V
VANCOUVER, BC, Aug. 7, 2024
/CNW/ - Black Mammoth Metals Corporation (TSXV: BMM)
(OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased
to announce that Quicksilver Systems of Bend, Oregon has completed and interpreted a
mercury vapor survey (the "Hg Survey") on behalf of the Company at
its Happy Cat gold property (the "Property") in Nevada. Mercury detectors were placed at 335
stations along 6 east – west lines, 30m apart, with lines ranging 122m to 293m
between lines. The Hg Survey was located over the Property's
approximate 4 square kilometer area that is identified as being
hydrothermally altered (the "Alteration") typical to that of
alteration zones present at other Carlin-type deposits in northern Nevada. The Alteration encompasses an area
where northerly trending high-angle faults intersect indicated
NW-trending re-activated faults that are known to be of age and
orientation as ore-controlling faults occurring at other
Carlin-type deposits.
Mercury values ranged from 0 to 108 nanograms with a mean of 11
nanograms. Oxidation of mercury bearing mineralization is
assumed to have produced these anomalous mercury vapor values
through a cover of alluvium and volcanic units. To estimate the
sampling variability, 29 replicate pairs were included. The
variance was comparable to other Hg Surveys at 37%.
The high mercury values occur over structures. These are thought
to be leakage anomalies, where locally higher permeability and the
resultant oxidation of mercury containing minerals releases mercury
to the surface. The perimeter of the moderate to high mercury
values of the Hg survey coincides with the Alteration and the
highest mercury values trend north-easterly through the center of
the Alteration.
The Company has now combined the Hg Survey data with the
Property data, which includes fault locations and their
intersections within the Alteration, to prioritize drill targets.
Drill permitting at Happy Cat is thought to be favorable and
includes the submittal of a Bureau of Land Management - Notice of
Intent.
The Company also continues to acquire non-core exploration
interests in the western US, by purchase and by staking.
Mark J. Abrams, CPG #11451, a
Qualified Person as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI
43-101") and director of Black Mammoth, has reviewed and
approved the technical content in this release. Historical
information contained in this news release cannot be relied upon as
Mr. Abrams, the Company's Qualified Person, has not prepared nor
verified the historical information.
About Black Mammoth Metals Corporation:
In 2024, Black Mammoth Metals has acquired a 100% interest in
the America Mine gold property, San Bernardino, CA, the Quito gold property, Lander County, NV and the Callaghan gold
property also in Lander County,
NV.
At the Company's 100% owned, 1,213 hectare (2,997 acre) Happy
Cat gold property, Lander County,
NV, an approximate 4 square kilometer area is identified as
being hydrothermally altered. Structural modelling suggests the
density of the alteration and its' density contrast relative to the
host rock is typical to that of alteration zones present at other
Carlin-type deposits in northern
Nevada. The alteration encompasses
an area where northerly trending high-angle faults intersect
indicated NW-trending re-activated faults that are known to be of
age and orientation as ore-controlling faults occurring at other
Carlin-type deposits. The Company
intends to prioritize drill targets within the alteration area.
Black Mammoth also has a 100% interest in the Blanco Creek
gold property in the Elk Creek Mining District, central
Idaho, which hosts three historic
underground mines along 3,550 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
1.70 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 14,
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
This press release contains forward-looking statements and
forward-looking information (collectively, "forward looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical fact, included
herein, including statements regarding the Company's completion of
the Transaction and related transactions 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 that the requisite corporate and TSXV for the
Transaction may not be obtained; that the Company or IDA Mining, as
applicable, may be unable to satisfy any or all closing conditions
necessary for the completion of the Transaction; and other risks
that are customary to transactions of this nature. 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.sedarplus.ca and readers are urged
to review these materials, including the latest technical reports
filed with respect to the Company's mineral properties.
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.
SOURCE Black Mammoth Metals Corp
