Mammoth Intersects 45.4 Metres Grading 0.63 Grams Per Tonne Gold Equivalent in Diamond Drilling at Its Tenoriba Precious Meta...
April 12 2018 - 6:45AM
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 the Sierra Madre region of southwestern Chihuahua
State, Mexico. The results are for the third hole in the
Masuparia area of the property; TEN 17-04, and the
first hole ever to be drilled at the
Los Carneritos
area of the property; TEN 17-07, located 800 metres
northeast of hole TEN-04. The intersection at Los Carneritos
extends the strike length of gold mineralization on the
property a total of almost four kilometres within a
High Sulphidation system with
mineralization open at least one kilometre both to the east
and west of the four kilometre trend where gold has been
sampled on surface.
Results are shown in the table below. Drill hole
surface locations and drill cross sections illustrating the
location and depth of the mineralized intervals relative to
geophysical and topographic features are available on the Company's
website under the 'Projects' section; 'Maps, Images and
Photographs.'
|
|
|
|
|
WeightedAverageGold |
WeightedAverageSilver |
WeightedAverageGoldEquivalent* |
Location |
Hole Number |
From |
To |
Total |
Grade |
Grade |
Grade |
|
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(g/t) |
Masuparia |
TEN 17-04 |
0.0 |
10.0 |
10.0 |
1.12 |
0.1 |
1.13 |
|
|
45.1 |
90.5 |
45.4 |
0.53 |
0.1 |
0.63 |
|
(including) |
45.1 |
59.8 |
14.7 |
0.61 |
0.2 |
0.86 |
|
(including) |
72.5 |
90.5 |
18.0 |
0.78 |
0.1 |
0.83 |
Los Carneritos |
TEN 17-07 |
11.5 |
50.5 |
39.0 |
0.21 |
0.1 |
0.28 |
* Gold Equivalent where silver grade is
converted to gold grade at 75 g/t Ag = 1 g/t Au 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 the drill results stating: “We're
very pleased with these two holes to have intersected gold
mineralization in the Los Carneritos area almost one kilometer to
the east of any prior drilling on the property and to have extended
mineralization by at least 100 metres to the west of prior drilling
in the Masuparia area.
"Drill hole TEN 17-04 is a step-out hole more
than 100 m west of hole TEN 17-05 in the Masuparia area of the
property where among other intersections announced on March 1st
from hole TEN 17-05 there occurred 0.63 grams per tonne gold
equivalent over 27 metres and 1.32 grams per tonne gold equivalent
over 23.5 metres. Drill hole TEN 17-05 is a 50 metre step out to
the northwest of hole TDH-07 which was drilled in 2008 and which
assayed 2.35 grams per tonne gold equivalent over 47 metres,
including 5.33 grams per tonne gold over 4 metres. 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 an
approximate 500 metre east-west geophysical feature in this
area.
"To intersect 39 metres of a grade that is
almost twice the cut-off grade for economically producing heap
leach gold mines in Mexico in the first drill hole ever drilled
into the Los Carneritos area in hole TEN 17-07 is a terrific
success. Los Carneritos is located almost four kilometers to the
east of the furthest western drill hole from this program at El
Moreno. What's particularly encouraging about this hole was the
abundance of vuggy silica in the core, vuggy silica being a strong
indicator of the elevation for gold mineralization within High
Sulphidation systems.
"Gold mineralization remains open to the east
and west for at least another kilometer in from the Los Carnertitos
and El Moreno areas, respectively. Mammoth expects to drill another
two to three holes within the large one by one and a half kilometre
area of Los Carneritos to test other targets as part of the current
drill program."
TEN-17-04
Drill hole TEN 17-04 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. It is believed the
structure(s) intersected in holes TDH-07, TEN 17-04 and TEN 17-05
can be followed sporadically on surface via old artisanal workings,
trenches and outcrops for a strike length of 800 m to the north and
is part of an approximate 600 metre corridor of mineralization and
geophysical features in this same area. Mineralization in this area
remains open in all directions and is only covered by 600 metres
east to west of geophysics. Additional geophysics is planned as
follow up to the success of these holes.
TEN-17-07
Drill hole TEN 17-07 is the first drill hole
ever drilled into the Los Carneritos area, a larger 1.5 kilometre
by 1.0 kilometre area in the eastern end of the area covered by
geophysics (only 40% of the property has been covered by ground
surveyed magnetic and induced polarization geophysics). Los
Carneritos is located almost four kilometers to the east of the
furthest western drill hole from this program at El Moreno (refer
to surface dril hole location maps for the property available on
the Company's website under the 'Projects' section 'Maps, Images
and Photographs'). What is particularly intriguing about this hole
was the abundance of vuggy silica and crystalline dickite clay in
the core. Both vuggy silica and the development of crystalline
alteration clays are strong indicators of the elevation for gold
mineralization and degree of hydrothermal alteration, respectively
within High Sulphidation systems. Mammoth will be following up with
at least two to three more drill holes testing other targets in the
Carneritos areas as part of the current drill program.
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.
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