Mammoth Reports an Additional Two Kilometres of 3D Geophysical Modelling at its Tenoriba Gold-Silver Property, Mexico

2021-04-22 / @thenewswire

(TheNewswire)

Toronto, Canada – TheNewswire - April 22, 2021 - Mammoth Resources Corp. (TSXV:MTH) (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to provide results from an additional two kilometres (km) of the 3-dimensional (3D) drill target modelling from its infill, Induced Polarization/Magnetometer (IP/Mag) geophysical survey recently completed at its 100% owned Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt, Mexico. This 3D modelling shows strong correlation between anomalous surface gold-in-soil, chip and channel samples together with numerous gold intervals in diamond drilling and extends these coincident features over what now totals a 2.4 km trend of a larger 6 km trend of surface gold-silver mineralization at Tenoriba.

For illustrations of the results from this modelling please refer to Figure 1 to this press release - “Location Map of Area of 3D Interpreted Geophysical Survey”, Tenoriba Project, Figure 2 - “Illustrative IP-Chargeability Surface Plan, Line 59100E to 61500E, Tenoriba Project (with anomalous gold-in-soil results)” and Figure 3 - “Illustrative 3D, IP-Chargeability Image, Section 61000E, Looking West, Carneritos Area, Tenoriba Project (with anomalous gold-in-soil results)”.

To view an illustrative animation of the 3D modelling discussed in this press release showing IP-chargeability features coincident with anomalous gold-in-soil results, please refer to the Company’s website: www.mammothresources.ca “Projects” section “Maps, Images and Photographs” section, under today’s date.

Thomas Atkins, President and CEO of Mammoth commented on results from the geophysical modelling, stating: "Mammoth having completed the infill geophysical survey in early April, we continue to work with the Intelligent Exploration geophysicists to compile and model in three dimensions the results from the survey together with other surface and drill data. This compilation and modelling is being undertaken to identify drill targets along the six-kilometre trend of gold-silver mineralization at Tenoriba.

“We’re very pleased with what we’re seeing so far in this modelling. There’s a strong correlation between combinations of chargeability, resistivity, magnetic susceptibility and metal factor in the geophysics with surface gold values in soil, chip and channel sampling, and where the survey has been modelled so far, good extensions of geophysical features around prior drill holes where potentially economical gold-silver intervals were intersected.

“We’re looking forward to the continuation of this modelling as we prioritize drill hole locations from this work over the full six-kilometre strike length of surface mineralization for 2021 drill program to test these targets. We look forward to sharing the results of this targeting work as we advance towards this drilling.”

As part of its first quarter 2021 surface exploration program Mammoth is advancing detailed confirmation geological mapping and expanded sampling with an infill IP/Mag geophysical survey and 3D drill target modelling. The IP/Mag infill geophysical survey is designed to cover most of the 60% of the 6-kilometre trend of surface mineralization not previously covered by the Company’s earlier 2013 IP/Mag survey. This work follows up on activities performed by Centerra Gold during its 21 months on Mammoth’s Tenoriba property (Centerra notified Mammoth it was ceasing its exploration activities in Mexico in September 2020, returning 100% of the Tenoriba property to Mammoth - refer to press release dated September 22, 2020) and based on the recommendations, following a review by PhD geologists Drs. Ressel and Christensen of MDA/RESPEC consulting. The PhD study included a review of all historical data from exploration activities at Tenoriba, including mapping and sampling over 3,000 surface soil and rock samples and 26 drill holes totalling almost 5,000 metres (m) sporadically testing mineralization along 4 km of the 6 km trend of known gold-silver mineralization. The report concluded that “Tenoriba is a high-quality early to mid-stage exploration project with potential to host an economic high-sulfidation epithermal deposit” (refer to press release dated February 18, 2021 and Mammoth’s website: www.mammothresources.ca/s/TechReports.asp.).

A total of 2.4 km of 3D modelling of the geophysical data is now complete. Mammoth is working closely with Intelligent Exploration (IE) geophysicists to model the IP/Mag geophysical characteristics of the rocks in this area employing 3D technology combining a combination of surface and drill data to assist in identifying attractive targets for the continuation of the surface gold-silver mineralization at depth. IE is a geophysical consultancy of highly experienced PhD and P.Geo geophysicists, with years of experience on a variety of deposit types, employing the most modern geophysical techniques to enhance the geophysical evaluation of mineral deposits.

Qualified Persons:

The IP/Mag survey is being conducted by Géophysique TMC (TMC) of Val d’Or Quebec, contracted by Mammoth from TMC’s Mexico office. Chris Hale and John Gilliatt are the principal geophysicists at Intelligent Exploration. Dr. Chris Hale holds a BSc in Earth and Planetary Sciences from Erindale College, University of Toronto, a MA from the University of California and a PhD from the University of Toronto and has 45 years of mineral exploration experience. John Gilliatt holds a BSc in Geophysics from the University of Alberta and is registered as a P.Geoph. (Alberta) and has over 30 years of mineral exploration experience. Both partners hold P.Geo. registration in Ontario and are members of the Canadian Exploration Geophysical Society (KEGS). IE provides consulting services under a Certificate of Authorization from the APGO (Association of Professional Geoscientists of Ontario).

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on 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. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. 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.

Figure 1 - Location Map of Area of 3D Interpreted Geophysical Survey, Tenoriba Project

Click Image To View Full Size

Figure 2 - Illustrative IP - Chargeability Surface Plan, Line 59100E to 61500E, Tenoriba Project

(with anomalous gold-in-soil results)

Click Image To View Full Size

Figure 3 - Illustrative 3D, IP-Chargeability Image, Section 61000E, Looking West, Carneritos Area, Tenoriba Project

(with anomalous gold-in-soil results)

Click Image To View Full Size