Mammoth Intersects 58.2 Metres Grading 0.8 Grams Per Tonne Gold Equivalent in Diamond Drilling at Its Tenoriba Precious Metal Property, Mexico
TORONTO, April 26, 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. Mammoth is also restating and supplementing results for hole number TEN 17-07 which had previously been announced on April 12, 2018.
Results are for the two additional holes in the Los Carneritos area of the property; holes TEN 17-06 and TEN 17-08. These diamond drill holes 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 this four kilometre trend where gold has been sampled on surface. Drill hole TEN 17-06 averaged 126.8 metres grading 0.52 grams per tonne (“g/t”) gold equivalent (“gold Eq”), including a higher grade intersection of 58.2 metres grading 0.80 g/t gold Eq of which 25 metres of this interval averaged 1.21 g/t gold Eq.
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'.
Thomas Atkins, President and CEO of Mammoth commented on these results stating: “We again have intersected some very impressive lengths and grades of gold mineralization at Tenoriba. In the Carneritos area, holes TEN 17-06, 07 and 08 test different targets separated by 180 to as much as 750 metres one from another.
“Hole TEN 17-06 had the best intersection among the three holes drilled at the Carneritos area with an impressive 126.8 metres grading 0.52 gram per tonne gold equivalent of which within this interval assayed a lengthy 58.2 metre interval grading 0.80 grams per tonne gold equivalent.
"Hole TEN 17-08 is located 750 metres east of TEN 17-06 and although the hole had to be abandoned due to technical difficulties at 102 metres of a planned 200 metres to test the target at this location, the portion of the core recovered assayed 14.9 metres grading 0.62 grams per tonne gold equivalent.
“We believe the potential to step-out and extend mineralization from any of these holes is high based on surface geology and gold in samples collected in the vicinity of these holes. The Carneritos area is on the eastern end of a four kilometre approximate east-west oriented trend of gold with minor silver mineralization at Tenoriba tested in this drill program and represents an approximate one kilometre extension to the prior, eastern-most drilling on the property."
| 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) | ||
| Carneritos | TEN 17-06 | 43.7 | 170.5 | 126.8 | 0.47 | 7.2 | 0.52 |
| (including) | 70.7 | 129.0 | 58.2 | 0.73 | 3.9 | 0.80 | |
| (including) | 70.7 | 95.7 | 25.0 | 1.10 | 2.7 | 1.21 | |
| (including) | 95.7 | 111.0 | 15.0 | 0.51 | 0.4 | 0.54 | |
| TEN 17-07 | 11.5 | 53.5 | 42.0 | 0.21 | 5.0 | 0.28 | |
| 65.5 | 78.0 | 12.5 | 0.33 | 2.4 | 0.36 | ||
| TEN 17-08 | 52.5 | 67.4 | 14.9 | 0.58 | 3.1 | 0.62 |
* 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.
TEN-17-06
Drill hole TEN 17-06 is located 160 metres (“m”) north and 100 m west of hole TEN 17-07 which assayed 0.28 g/t gold Eq. over 42.0 m and 0.36 g/t gold Eq over 12.5 m. Hole TEN 17-06 was collared near Carneritos channel T3, which assayed 1.07 g/t gold Eq over 15.7 m. Mineralization in this hole is within a fractured and occasionally brecciated and vuggy textured crystalline lithic tuff with presence of remnant alteration clays and from 3 to 5% pyrite in numerous shallow to high angle micro. TEN 17-06 has a 126.8 m interval assay 0.52 g/t gold Eq of which within this interval there was a 58.2 m section assaying 0.8 g/t gold Eq. This intersection remains open in all directions. Additional geophysics is planned as follow up to the success of the holes drilled in the Los Carneritos area with the survey to extend east of the current geophysics survey where gold has been sampled in various outcrops. Please refer to the Company's website under the 'Projects' section; 'Maps, Images and Photographs’ for a drill hole locations and drill sections.
TEN-17-08
Drill hole TEN 17-08 is located 750 m from the collar of hole TEN 17-06 (400 m west and 400 m south) and 700 m (500 m west and 200 m south) of hole TEN 17-07 which assayed 0.28 g/t gold Eq. over 42.0 m and 0.36 g/t gold Eq over 12.5 m. Hole TEN 17-08 was abandoned early and shallower than originally planned due to technical difficulties and as such failed to fully test the geophysical feature at this target area, however did still report a 14.9 m interval assaying 0.62 g/t gold Eq. Mineralization occurred within fractured iron oxide stained weak to moderately silicified and brecciated feldspathic phyric tuff. Mammoth expects to return to this area in the future to attempt another hole at a slightly different orientation to further test this target and attempt to extend the mineralization encountered at this location. Please refer to the Company's website under the 'Projects' section; 'Maps, Images and Photographs’ for a drill hole locations and drill sections.
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.