Mammoth Resources Reports Initial Results From Diamond Drilling at Its Tenoriba Precious Metal Property, Mexico
24 January 2018 - 12:55AM
Mammoth Resources Corp. (TSX-V:MTH)
, (the
“Company”) is pleased to announce results from the first
two diamond drill holes on its Tenoriba precious metal property in
southwestern Chihuahua State, Mexico. The results are for two of
three planned holes in the El Moreno area, located 1.4 kilometres
west of the only holes previously drilled and reported on the
property and are the first drill holes ever drilled into the El
Moreno area. 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' at the
following link:
http://www.mammothresources.ca/i/pdf/2018-01-23_Drill_Results_Images_PR-1.pdf.
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WeightedAverageGold |
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WeightedAverageSilver |
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WeightedAverageGoldEquivalent* |
Location |
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Hole Number |
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From |
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To |
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Total |
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Grade |
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Grade |
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Grade |
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(m) |
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(m) |
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(m) |
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(g/t) |
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(g/t) |
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(g/t) |
El
Moreno |
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TEN 17-01 |
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169.0 |
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209.0 |
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30.0 |
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0.77 |
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2.0 |
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0.79 |
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(including) |
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198.5 |
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204.5 |
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5.9 |
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3.41 |
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7.2 |
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3.51 |
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TEN 17-02 |
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180.5 |
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260.5 |
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80.0 |
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0.17 |
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0.3 |
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0.18 |
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(including) |
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187.0 |
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196.0 |
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9.0 |
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0.51 |
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5.3 |
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0.52 |
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(including) |
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180.5 |
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196.0 |
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15.5 |
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0.35 |
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8.6 |
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0.36 |
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* Gold Equivalent wherein silver grade is
converted to gold grade at 75 g/t silver = 1 g/t gold.Lengths shown
are core lengths versus perpendicular true length of mineralized
intersection.
Thomas Atkins, President and CEO of
Mammoth, commented on the initial drill results stating:
“We're very pleased with these initial results! The objective of
this drilling is to test for the first time the depth extension of
surface mineralization along a 6 kilometre trend identified by
Mammoth. These initial results begin to confirm the continuity of
potentially economical surface mineralization at depth along this
trend.
"This is the first drilling on the property
following 10 of 15 holes drilled in 2008, reporting potentially
economical mineralization over 0.4 kilometres of the 6 kilometre
trend. These initial intersections of potentially economical gold
at the El Moreno area are located 1.4 kilometres west of the area
previously drilled. Although these intersections occur at
considerable core lengths, vertical depths below surface
mineralization are significantly shallower due to the angle of the
drill hole and the slope of the ground at these locations.
"There remains 50 metres of core still to be
sampled from hole TEN-17-02 and although the grade of
mineralization in hole TEN-17-02 isn't particularly, what's
impressive is the length of the mineralized interval within a suite
of rocks that are commonly associated with High Sulphidation
systems and which continues to support our belief that there's a
robust mineralizing system present at Tenoriba the roots of which
remain to be found."
TEN-17-01
The collar position of hole TEN-17-01 was slightly
modified from the original drill plan for hole M-01. Hole TEN-17-01
was drilled to test a subhorizontal resistive to moderately
chargeable geophysical feature at vertical depths of from 30 to 200
metres below surface which was thought to coincide with the main El
Moreno artisanal mine working consisting of an intensely silicified
volcanic breccia with the presence of Dickite, Kaolinite and Illite
creating to a high ISM index associated with intense hydrothermal
activity. Surface samples of the artisanal mine working at El
Moreno included chip channel lines grading 2.78 grams per tonne
("g/t") gold equivalent ("gold Eq") over 5.8 metres (where silver
is converted to gold at the ratio of 75 g/t silver = 1 g/t gold to
arrive at gold Eq grade) and 4.04 g/t gold Eq over 3.3 metres. The
company believes the mineralized intersection at TEN 17-01 is an
extension of the El Moreno structure extending such structure from
surface to 130 to 150 metres vertical depth.
TEN-17-02
This hole replaces the originally proposed holes
M-02 and M-04 as it was recognized after drilling hole TEN-17-01
that drilling these holes would be complicated by an area of fault
gouging intersected in hole TEN-17-01. TEN-17-02 targeted a large
high resistivity feature at intermediate depths and a chargeable
body towards the end of the hole.
The high resistivity feature intersected from 65.90
to 182.60 metres coincides with a variably weakly to moderately
silicified altered tuff containing 3 to 7 percent disseminated
pyrite and pyrite veinlets. Only a few intervals from this interval
returned less than 0.2 g/t gold Eq. The chargeable feature from
182.60 to 295.80 metres coincide with an altered Feldspar Porphyry
unit generally moderately to weakly silicified and argilized with
local strong silicification containing on average of 3 to 7 percent
disseminated pyrite and pyrite veinlets and locally up to 15
percent pyrite and 3 to 5 percent up to 10 percent disseminated
tourmaline in narrow pyrite bearing veinlets and veins up to 30
centimetres thick. Sampling of this interval assayed 80 metres at
0.18 g/t gold Eq with an interval of 9.0 metres grading 0.52 g/t
gold Eq. Tourmaline alteration zones are common in High
Sulphidation mineralizing systems although they generally tend to
occur in locations more distal to the core of the system and
generally are free of precious metals. This 80 metre thick interval
grading 0.18 g/t gold Eq would therefore appear to indicate the
strength and potential of the mineralizing system present at
Tenoriba and that this system likely occurred over repeated
pulses.
Drilling recommenced at El Moreno following the
holiday break with a third hole collared 100 m east of TEN-17-01
testing this same structure. Following drilling at El Moreno the
company plans to test features near the area previously drilled in
2008 and will then move further east to test targets in the
Carneritos area, in total drill testing approximately 5 kilometres
of the 6 kilometre trend.
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. Samples referenced in this press
release were prepared and analyzed by ALS CHEMEX in their
facilities in Mexico and Canada, respectively. Samples generally
consisted of a minimum of 2 kilograms of material. Drill core is
mostly HQ diameter core with minor lengths of NQ diameter core.
Where samples are taken these are most often 1.0 to 1.5 metres in
length and the core is sawn in half with a rock saw, samples bagged
and ticketed with individual sample bags sealed with a nylon
ziplock and then loaded into grain sacs which are further sealed
with a nylon ziplock and then transported by Mammoth personnel to
Chihuahua, Mexico for preparation. Gold and silver analyses are
performed by 30 gram fire assay with an Atomic Absorption finish.
Silver, copper, lead and zinc were analyzed as part of a
multi-element ICP package using an aqua regia digestion. Over limit
samples with greater than 1% Cu, Pb and Zn were re-analyzed using
ore grade detection limits. Blank and duplicate samples were
inserted randomly at approximately every 20 samples.
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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