Toronto, Canada (October 18, 2016) – Mammoth Resources Corp. (TSX-V: MTH), (the "Company") is pleased to announce that it has commenced exploration activities at its Tenoriba precious metal project in the prolific Sierra Madre region of Chihuahua State, Mexico. The Company had previously announced as a partial use of proceeds from its recent $200,000 capital raise, that it intended to perform a systematic PIMA, X-ray diffraction ground survey. The program is now underway and company geologists are collecting samples every 100 metres along lines oriented approximately north-south, spaced 500 metres apart which will be analyzed for the presence of various alteration clay minerals typically found in association with a High Sulphidation (HS) precious metal system as is believed to exist at Tenoriba.
The purpose of this program is to assist the Company in better understanding the most attractive areas of hydrothermal alteration within the large 15 square kilometre area in which it has mapped HS alteration assemblages in surface rocks, sampled gold and silver, and on occasion, as a confirmation of their presence with highly silicified structures, sampled these same alteration clay minerals. Based on consultation with various respected geologists with discovery experience in HS systems, a systematic PIMA program is an integral component of the definition of areas of potential occurrence of the hydrothermal alteration associated with gold and silver mineralization in HS systems. At this time it is uncertain when the program will be concluded, its conclusion being dependent upon initial results obtained and the time required to collect and to analyze the samples collected, however it is hoped that some sample results will be available in approximately the next 30 days. Results from this PIMA program will be used with prior surface mapping and chip/channel/grab sample results, soil geochemistry and surface geophysics to enhance drill hole selection for an approximate 15 hole, 2,500 metre diamond drill program planned to commence early next year. The diamond drill program will test attractive areas of surface mineralization and alteration at depth.
Previous work at Tenoriba by Mammoth has included detailed mapping and sampling, and a magnetometer and Induced Polarization surface geophysics program over approximately half of the large 15 square kilometre area of mineralization. Sampling to date has resulted in over 250 gold samples ranging from 0.3 grams per tonne (gpt) gold to as high as 26.9 gpt gold in channel samples from 1.0 to 2.5 metres in length and occasional grab samples. These samples also host geochemical characteristics typical of HS systems, including elevated values of Antimony, Mercury and Arsenic associated with gold. Prior to Mammoth's involvement at Tenoriba the property was covered by a soil geochemical sampling program and a small portion of the property, comprising approximately 20% of the 4,200 hectares of the property, was drill tested with 15 diamond drill holes results of which were announced in June 2008. Highlight intersections from this drilling included gold values ranging from as high as 46.9 gpt gold over a 1.9 metre core length, 2.26 gpt gold over a 11.5 metre core length and 1.03 gpt gold over a 34.4 metre core length (the orientation of the geological features in which the good was sampled is unknown at this time). All results of sampling are available in a technical report dated February 20, 2014 on the Company's web site.
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.
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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.