Mammoth Intersects 10 Metres Grading 2.93 Grams Per Tonne Gold and 7.2 Metres Grading 3.59% Copper in Diamond Drilling at Its...
March 01 2018 - 6:30AM
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'.
|
|
|
|
|
WeightedAverageGold |
WeightedAverageSilver |
WeightedAverageCopper |
WeightedAverageGoldEquivalent* |
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.
Mammoth Resources (TSXV:MTH)
Historical Stock Chart
From Nov 2024 to Dec 2024
Mammoth Resources (TSXV:MTH)
Historical Stock Chart
From Dec 2023 to Dec 2024