Mammoth Resources Announces Mobilization of Diamond Drill Equipment to Tenoriba Gold-Silver Project, Chihuahua, Mexico in Pre...
23 November 2017 - 12:30AM
Mammoth Resources Corp. (TSX-V:MTH),
(the
“Company”) is pleased to announce that all drill equipment
and a D6 Caterpillar bulldozer have beenmobilized to its Tenoriba,
High Sulphidation gold-silver exploration project in the Sierra
Madre region of southwestern Chihuahua State, Mexico. Equipment has
arrived by truck in preparation to commence the Company’s
previously announced (refer to press release dated October 25,
2017) 8 to 24 hole, up to 3,000 metre diamond drill program to test
various high priority gold-silver targets along a 5 km strike
length within an approximate 15 square kilometre area of ubiquitous
gold mineralization at Tenoriba. The Caterpillar bulldozer will be
finalizing previously advanced access to diamond drill stations
that were unable to be completed earlier this year. Drilling is
expected to begin in the next 7 to 10 days once the diamond drill
contractor has completed all preparation work (drill water supply
lines, other supplies to drill stations) to enable commencement and
continuation of drilling.
Thomas Atkins, President and CEO of
Mammoth, commented on the imminent commencement of drilling,
stating: “We should begin our first drill hole shortly and
although I doubt we’ll finish the entire program before year end,
whatever portion continues into the new year there should be a
steady supply of drill results flowing beginning in January and
continuing for a number of weeks into 2018. Mammoth’s VP
Exploration, Richard Simpson, is on site and working with the drill
contractor and local labourers to advance this drill program. We
believe we’ve been quite diligent in our analysis of all the
available information at our disposal to select what we believe are
some of the most attractive drill targets on the property
coincident with some very compelling features of a High
Sulphidation precious metal system observed at the project. This
includes abundant gold-silver mineralization in surface sampling
and in 10 drill holes covering approximately 15% of the property
from a 2008 drill program. Although we have no idea what
gold-silver grades we’ll intersect over what intersection intervals
we do feel confident we’ll intersect gold-silver mineralization in
these holes."
Mammoth has targeted its drill holes based on
what it believes is a compelling combination of: (1) surface
geology, (2) trace element geochemistry, (3) gold bearing samples
from chip and cut channels over a large 15 square kilometre area of
gold mineralization, (4) PIMA sampling results indicating proximity
to high temperature geothermal activity coincident with surface
gold values, and (5) a ground Induced Polarization (IP) and
Magnetometer (Mag) geophysics survey which illustrates attractive
geophysical features at depth coincident with surface gold
mineralization, artisanal workings and in some cases intersected at
depth by a predecessor company’s drilling (the highest grade
intersection assaying 45.9 grams/tonne gold over 1.9
metres in drill hole 7 and the lengthiest gold
intersection assaying 34.4 metres grading 1.03 grams/tonne
gold in drill hole 11 and 66 metres grading 0.5
grams/tonne gold in drill hole 14) (for additional
information on these results please feel free to reference the
technical reports available on the Company’s website at the
following link:
http://www.mammothresources.ca/s/TechReports.asp).
Mammoth will be posting a technical
report later today which discusses and illustrates the
criteria for its drill target selection. This report will be
available in the “Technical Reports” section on its website. The
Company welcomes anyone interested in acquiring greater
understanding or appreciation of the potential of the Tenoriba
property and the characteristics of its drill program to visit its
website and view this report.
About Mammoth Resources:
Mammoth Resources (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% in 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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