Mammoth Commences Diamond Drilling at its Tenoriba Gold-Silver Property, Mexico
Toronto, Canada - TheNewswire - September 14, 2021 - Mammoth Resources Corp. (TSXV:MTH) (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to announce the commencement of its diamond drilling program at its 100% owned Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt, Mexico. The drill program is testing up to five target zones which measure from hundreds to over a kilometre (km) in strike length along a 4 km, east-west trend of gold-silver mineralization identified in 3-dimensional (3D) modelling incorporating 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 Induced Polarization/Magnetometer (IP/Mag) geophysical survey (please refer to the descriptions of target zones in press releases dated July 22, 2021).
Thomas Atkins, President and CEO of Mammoth commented on the commencement of drilling stating: "Mobilizing the first drill rig began in early August according to plan with the second rig arriving late in the month. We knew mobilizing and establishing drill water supply lines to the rigs during the middle of the rainy season was going to be challenging. This challenge was measured against low shareholder support that the Company wait until October, when the rainy season normally ends, to begin this work.
“Like anywhere, it's impossible to predict the weather year-to-year. Last year in the Sierra, rain wasn't particularly heavy during this mid-year hurricane/rainy season. However, this year there's been a large amount of rain, including a recent deluge from Pacific hurricane Nora.
“Every time the project area receives heavy rain, we're having to repair washed-out access roads, the drillers have limited access to the drill rigs and have been challenged to set up and establish the drill water supply line to the second rig. Despite these challenges, when it's been dry the drillers have made sufficient progress such that one drill began drilling intermittently between periods of heavy rain in late August and the second rig is poised to begin drilling this week.
“We're hoping the drillers will continue to get some breaks in the weather that will allow drill production to be sustained as the rainy season tapers, this tapering expected to occur later this month and into October."
Two diamond drill rigs are on site with the objective of testing targets generated by the 3D modelling of surface and geophysical data. The Company intends to initially drill 2 - 4 holes within each target zone then move to another target zone to drill a similar number of holes. Company geologists will await the results from the earlier holes testing the earlier target zones prior to further follow up drilling of these areas. The initial holes, currently being drilled, are testing targets in the Carneritos area in the east of the 4 km trend.
Although it's difficult to accurately predict turnaround time at the laboratory given that whatever the current timeline may be, this may not be the timeline in the weeks ahead when Mammoth delivers its samples. This notwithstanding, the Company remains optimistic it will have some initial results to report from the first drill holes before the end of October. The Company will keep shareholders apprised of progress in the weeks ahead, including any additional weather-related delays and drill rig progress.
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.