VANCOUVER, British Columbia, Aug. 05, 2022 (GLOBE NEWSWIRE) -- Mammoth Resources Corp. (TSXV:MTH), (OTCPink:MMMRF) released results for an additional four drill holes from its diamond drilling program at its Tenoriba gold property in Mexico. The company holds a 100% interest in the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico, subject to a 2% net smelter royalty purchasable for US$1.5 million anytime within two years from commencement of commercial production.
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A total of 27 holes were drilled for a total of 3,240 metres, with 4 holes released today. 17 were previously released, with results from the remaining 6 holes expected to be released in the coming weeks.
The drill program was designed to test up to 5 target zones which measure from 100’s of metres to over one km in strike length along a 4 km, east-west trend of gold-silver mineralization.
The targets were identified in 3D modelling incorporating data from over 3,000 soil, chip and channel samples, 26 prior diamond drill holes, geological and structural mapping and the potential continuity at depth of surface mineralization as indicated by an IP/Mag geophysical survey. Today’s 4 holes, TEN21-18 to 21, totalling 389 metres, bring the total reported to date to 2,624 metres.
These holes were all collared in the Carneritos target area where abundant surface gold-silver mineralization occurs within a large 1,400 metre long by up to 500 metre wide area. A summary of potentially economical intervals from the four drill holes reported today are shown in the video.
Drill hole TEN21-18 did not reach its targeted depth as it was abandoned due to poor ground conditions as drill rods tightened and were at risk of being lost. The hole returned potentially economical gold Eq values over the entire core interval and given it had to be abandoned due to poor ground conditions, it is believed that additional potential exist for continued gold-silver mineralization at greater depths.
Drill hole TEN 21-21 was successful in intercepting almost 50 m of higher than 1.2 g/t gold Eq gold-silver mineralization, one of the highest grade-thickness holes drilled at Carneritos to date. Further drilling from 50 to 200 m to the north, west and northwest of this hole is recommended to assist in defining the northcentral limits to gold-silver mineralization at Carneritos.
Richard Simpson, Vice President Exploration, added: “Similar to what Tom is stating, I’m highly encouraged by these results, both the lengthy intervals and intervals at higher grades. Based on surface geology and sampling results we believed there was the potential for these higher grades. It’s terrific to be intersecting them over such interval lengths and we believe this bodes well for future drilling and a robust gold-silver mineral resource at Carneritos.”
For more information on today’s results please refer to today’s news release. 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.
The shares are trading at $0.035. For more information, please visit the company’s website, www.MammothResources.ca, contact Thomas Atkins, President & CEO, at 416-509-4326 or by email at firstname.lastname@example.org.
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