Vancouver, British Columbia--(Newsfile Corp. - May 22, 2024) - Mammoth Resources Corp. (TSXV: MTH) (OTC Pink: MMMRF) 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, reported results from an internal study conducted by company geologists.
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The report covers the company's the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico, which is subject to a 2% net smelter royalty purchasable for US$1.5 million anytime within two years from commencement of commercial production.
CDN$6.5 million has been spent on the property to date, including 55 diamond drills holes totalling 7,500 meters, 48 of which were potentially economical, testing areas along a 4 km trend to 150 m depth. Results ranged from 24.7 m grading 4.0 g/t gold to 126.8 m grading 0.52 g/t gold, with an average grade of 0.65 g/t gold equivalent, using a 75 to 1 ratio.
Richard Simpson, Vice President Exploration and the company's Qualified Person, added: "This study acts as a guide in determining the risk-reward to further investment at Tenoriba to define this resource. We initially began looking at a global, oxidized-mixed oxidized/sulfide domain together with all sulfide mineralized intervals in determining the Exploration Target. It too was a large number of gold equivalent ounces. However, when we saw the high recoveries of gold-silver in the near surface, oxidized-mixed oxidized/sulfide material from the preliminary bottle roll tests, we felt it would be better to separate mineralization into the two domains. We believe there's excellent potential to define a sizeable mineral resource in low-cost, near-surface drilling of the oxidized horizon, especially in our initial phase drilling at Carneritos."
For more information please refer to the company's news release. Mammoth is seeking other opportunities in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.
The shares are trading at $0.025. 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 tr_atkins@rogers.com.
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