Black Mammoth Metals Begins UAV-MAG Airborne Geophysics at Happy Cat Gold Property
VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Black Mammoth Metals Corporation (TSX-V: BMM) (OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased to announce that it has contracted MWH Geo-Surveys International Inc. of Reno, Nevada ("MWH") to conduct a Magnetometer Survey with the use of an Unmanned Aerial Vehicle ("UAV-MAG") at the Company's 100% owned Happy Cat gold property in Nevada ("the Property"). MWH, a leader in the UAV space, will also complete Orthophoto/Digital Surface Modelling.
The main objective of the surveys is to further define drill targets by identifying zones of favorable lithology, and alteration features permissive to hosting gold mineralization that may extend under shallow cover from known areas of near surface mineralization, and to identify any potentially mineralized faults. These surveys will also work towards the Company's objective of identifying the source of the near surface widespread gold mineralization that occurs in an unconformity exposed at the surface. This mineralized area lies at the basal contact of Tertiary volcanic rocks with sedimentary rocks within a 600-metre diameter circular area, described in the Company's news release dated November 25, 2020. Although the Happy Cat property has been drilled and trenched by prior operators, no known geophysical work has yet to be conducted aside from the larger regional geophysical surveys. The UAV-MAG is expected to commence early next week covering the entire Property area.
The UAV-MAG produces magnetic data of high accuracy and resolution due to the high data capture rate, slower flight speeds and lower altitude. The Orthophoto can produce a digital surface model of the Property with accuracy of approximately 5 cm, horizontal and vertical. The data will be processed by Integrated Geophysics Corporation of Houston, Texas, an independent geophysical firm with extensive experience handling UAV-MAG data.
MWH Geo-Surveys International Inc. has been conducting gravity and magnetic surveys and their related topographical surveys since 1980 for projects around the world. While the UAV-MAG is relatively new, MWH has been a leader in developing a field proven system integrating the UAV equipment, the magnetic system and flight controlling software with more than 30,000 flown kilometers. With UAV-MAG, high resolution magnetic data can now be acquired rapidly, economically, and safely in any terrain.
The TSX Venture Exchange has accepted for filing with the effective date of January 26, 2021, the Happy Cat property transaction described in the Company's news release dated November 25, 2020 where Antelope Creek Gold Corporation ("Antelope Creek Gold"), a wholly owned subsidiary of Black Mammoth Metals Corporation, has entered into an Assignment and Assumption Agreement dated November 20, 2020 with IDA Gold Corporation ("IDA") pursuant to which IDA has assigned, and Antelope Creek Gold has assumed, 100% of the rights, title and obligations of the Assignee for the acquisition of the Happy Cat Gold Property located in central Nevada.
Mark J. Abrams, CPG #11451, Non-Independent Qualified Person as defined by NI 43-101 and Director of Black Mammoth has approved the technical information contained in this news release.
About Black Mammoth Metals Corporation:
Black Mammoth has 11,081,871 shares issued and outstanding, 11,556,871 fully diluted.
Along with the Company's 100% owned Happy Cat Gold Property, subject to underlying royalties, Black Mammoth has a 100% interest, subject to underlying royalties, in the Blanco Creek gold property in central Idaho which hosts three historic underground mines along 3550 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 1.7 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 14th, 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 and Corporate Secretary
Website: www.blackmammothmetals.com
"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." This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, the visual continuity of certain mineralized intervals and business and financing plans and trends, the potentially open nature of the mineralized zones on the property and the potential for future discoveries of additional mineralization on the property 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 those related to weather, equipment and staff availability; performance of third parties; timing of receipt of assay results from third party analytical facilities; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. 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.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
SOURCE Black Mammoth Metals Corp
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