Mammoth visits Mexico, talks to communities by Tenoriba
2020-10-19 09:07 MT - News Release
Mr. Thomas Atkins reports
MAMMOTH PROVIDES UPDATE ON ACTIVITIES AT ITS TENORIBA GOLD PROPERTY, MEXICO
Mammoth Resources Corp. has provided an update on its activities related to the transfer of operations and 100-per-cent ownership of the Tenoriba gold-silver project located in the Sierra Madre precious metal belt, southwestern Chihuahua, Mexico. Following the notice given to Mammoth by Minera Centerra SA de CV, the Mexican subsidiary company of Centerra Gold Inc., whereby Mammoth announced on Sept. 22, 2020, that Centerra was ceasing exploration activities in Mexico, including at Tenoriba, Mammoth has been actively transferring project information and surface access agreements to Mammoth. Activities since the date of the Centerra notice include: (1) travel to Mexico to attend a technical review of exploration activities and data produced by Centerra during its 21 months operating the option agreement and the transfer of these data to Mammoth, and (2) reintroduce itself to community members and assure voting members of influence within the ejido and executive/administrators that Mammoth was now managing agreements and activities at Tenoriba following Centerra's departure, that current agreements would be honoured going forward and require transferring to Mammoth. Mammoth also initiated discussions to extend these agreements for a two-year period thereby facilitating surface access for a significant future drill program.
Thomas Atkins, president and chief executive officer of Mammoth, commented on Centerra ceasing exploration activities in Mexico, stating: "Travelling back to the project area, myself and Richard Simpson, VP exploration at Mammoth, received a warm welcome after being absent the region the past 20 months. It was terrific seeing friends and acquaintances, and discussing plans and the importance of our working together going forward for our mutual benefits. I feel confident this message of co-operation was well understood and embraced, and we look forward to returning again shortly as we act on some of our plans to advance Tenoriba to a significant drill program, most likely as soon as we're able in early 2021. We're in frequent contact with the contractor responsible for the drill permit application and have been told that permit approval is advancing well, and we're putting into place other activities to have Mammoth in the best position possible to have a number of drill targets testing numerous areas over the five-kilometre strike length of mineralization at Tenoriba. As we continue to advance these activities, we'll make further announcements to ensure shareholders are apprised of these steps towards commencement of drilling."
Tenoriba technical review
The owner of a diamond drilling company and a third party geologist accompanied Mammoth's vice-president of exploration, Mr. Simpson, to Centerra's Mexican office where a meeting was held to review Centerra's activities during its period working at Tenoriba. Mr. Atkins, president and CEO of Mammoth, attended this meeting by conference link. A number of observations, recommendations and conclusions were presented, and all Centerra data were transferred to Mammoth. Mammoth will, over the next couple of weeks, integrate Centerra's work data with its own and, from this integration and review, Mammoth will make recommendations on any additional work that may be deemed appropriate prior to targeting drill locations and the commencement of drilling. The company expects to announce the results of this review, its recommendations for any future work and timing of any such activities in the next couple of weeks.
Please refer to the projects section, maps, images and photos subsection, of the company website for some slides of Mammoth's trip into the project area, including some course gold samples panned from a location just below the El Moreno area at Tenoriba.
Following the technical meeting, Mr. Simpson and the third party geologist travelled to Chihuahua city where they met Mr. Atkins and the Tenoriba project community relations manager. All four participants travelled to the project area to meet with community members and assured these community members, ejido voting members of influence and executive/administrators of the ejidos that Mammoth was now managing agreements and activities at Tenoriba following Centerra's departure, and that current agreements would be honoured going forward and require transferring to Mammoth. Mammoth also initiated discussions to extend these agreements for a two-year period. Mammoth met with members of both ejidos (community groups) and the district president. A warm welcome was received, and discussions have led to meetings and dates being set in the near future for voting on the transfer and extension of surface access agreements, with the intention that extensions to surface access agreements will be in place before year-end.
Please refer to the projects section, maps, images and photos subsection, of the company website for some slides of Mammoth's trip into the project area, including pictures of various meetings held with community members.
Mammoth looks forward to providing additional information on its activities at Tenoriba as it prepares the project for a significant drill program to commence as early as it is able in 2021.
About Mammoth Resources Corp.
Mammoth 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-per-cent interest (subject to a 2-per-cent net smelter royalty purchasable anytime within two years from commencement of commercial production for $1.5-million (U.S.)) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre precious metal belt in southwestern Chihuahua, 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.
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