TORONTO, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Mammoth Resources Corp. (TSX-V: MTH ), (the “Company”) is pleased to announce that all drill equipment and a D6 Caterpillar bulldozer have beenmobilized to its Tenoriba, High Sulphidation gold-silver exploration project in the Sierra Madre region of southwestern Chihuahua State, Mexico. Equipment has arrived by truck in preparation to commence the Company’s previously announced (refer to press release dated October 25, 2017) 8 to 24 hole, up to 3,000 metre diamond drill program to test various high priority gold-silver targets along a 5 km strike length within an approximate 15 square kilometre area of ubiquitous gold mineralization at Tenoriba. The Caterpillar bulldozer will be finalizing previously advanced access to diamond drill stations that were unable to be completed earlier this year. Drilling is expected to begin in the next 7 to 10 days once the diamond drill contractor has completed all preparation work (drill water supply lines, other supplies to drill stations) to enable commencement and continuation of drilling.
Thomas Atkins, President and CEO of Mammoth, commented on the imminent commencement of drilling, stating: “We should begin our first drill hole shortly and although I doubt we’ll finish the entire program before year end, whatever portion continues into the new year there should be a steady supply of drill results flowing beginning in January and continuing for a number of weeks into 2018. Mammoth’s VP Exploration, Richard Simpson, is on site and working with the drill contractor and local labourers to advance this drill program. We believe we’ve been quite diligent in our analysis of all the available information at our disposal to select what we believe are some of the most attractive drill targets on the property coincident with some very compelling features of a High Sulphidation precious metal system observed at the project. This includes abundant gold-silver mineralization in surface sampling and in 10 drill holes covering approximately 15% of the property from a 2008 drill program. Although we have no idea what gold-silver grades we’ll intersect over what intersection intervals we do feel confident we’ll intersect gold-silver mineralization in these holes."
Mammoth has targeted its drill holes based on what it believes is a compelling combination of: (1) surface geology, (2) trace element geochemistry, (3) gold bearing samples from chip and cut channels over a large 15 square kilometre area of gold mineralization, (4) PIMA sampling results indicating proximity to high temperature geothermal activity coincident with surface gold values, and (5) a ground Induced Polarization (IP) and Magnetometer (Mag) geophysics survey which illustrates attractive geophysical features at depth coincident with surface gold mineralization, artisanal workings and in some cases intersected at depth by a predecessor company’s drilling (the highest grade intersection assaying 45.9 grams/tonne gold over 1.9 metres in drill hole 7 and the lengthiest gold intersection assaying 34.4 metres grading 1.03 grams/tonne gold in drill hole 11 and 66 metres grading 0.5 grams/tonne gold in drill hole 14) (for additional information on these results please feel free to reference the technical reports available on the Company’s website at the following link: http://www.mammothresources.ca/s/TechReports.asp ).
Mammoth will be posting a technical report later today which discusses and illustrates the criteria for its drill target selection. This report will be available in the “Technical Reports” section on its website. The Company welcomes anyone interested in acquiring greater understanding or appreciation of the potential of the Tenoriba property and the characteristics of its drill program to visit its website and view this report.
About Mammoth Resources:
Mammoth Resources (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% in 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
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. 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.
