Black Mammoth Metals' Magnetic Survey Results at Happy Cat Gold Property
- Faults spanning the Property indicated with typical orientation and age to host Carlin-type deposits.
- Numerous magnetic anomalies indicative of shallow intrusive structures.
- Significant magnetic anomalies indicated at fault intersections.
VANCOUVER, BC, Feb. 10, 2022 /CNW/ - Black Mammoth Metals Corporation (TSXV: BMM) (OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased to announce that the Company's completed UAV magnetic survey (the "Mag Survey"), covering the Company's 1113 hectares (2750 acres) 100% owned Happy Cat gold property (the "Property"), has indicated significant NW trending faults (the "NW Faults") substantially spanning the Property and intersecting the known northerly trending high angle faults (the "N Faults"). Numerous magnetic anomalies indicative of shallow intrusive structures are present along the N Faults and the NW Faults with the most significant magnetic anomalies located near fault intersections (the "Intersections"). At many of the Intersections there is a significant magnetic low located along the fault with corresponding magnetic highs located on each side of the fault suggesting that magnetite associated with an intrusive structure may have been destroyed by hydrothermal fluids.
The N Faults, NW Faults and their Intersections warrant follow-up exploration with the intent to refine drill targets, testing:
- The contact between the intrusive structures and the Paleozoic sedimentary strata, which includes the lower plate Roberts Mountain and upper plate Valmy formations.
- Areas along faults where hydrothermal fluids may have been present as these fluids are typically associated with gold mineralization in Carlin-type deposits. Faulting on the Property is of the correct orientation and age to have help formed Carlin-type deposits.
The Mag Survey was conducted by MWH Geo-Surveys of Reno, Nevada and covered a total area of over 24 square kms in the southern Ravenswood Mining District at 50m line spacing bearing either east or west at an elevation of approximately 31m above ground level. Geophysics–Minerals of Houston, Texas was contracted to process and interpret the data.
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 11,376,871 shares issued and outstanding, 11,376,871 shares 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
Website: www.blackmammothmetals.com (new website coming soon)
"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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