Mammoth Intersects 45.4 Metres Grading 0.63 Grams Per Tonne Gold Equivalent in Diamond Drilling at Its Tenoriba Precious Metal Property, Mexico
TORONTO, April 12, 2018 (GLOBE NEWSWIRE) -- 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.'
| Weighted Average Gold | Weighted Average Silver | Weighted Average Gold Equivalent* | |||||
| 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
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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.