No.25-01
BMM: TSX-V
VANCOUVER, BC, January 3,
2025 /CNW/ - Black Mammoth Metals
Corporation (TSXV: BMM) (OTC: LQRCF) ("Black Mammoth"
or the "Company") is pleased to announce that it intends to
commence a drill program this month at its 100% owned Happy Cat
property in Lander County, Nevada
(the "Property"). The Company has received confirmation from the
Bureau of Land Management that the required permit and bond are in
place.
Reverse circulation drilling of approximately 1500 meters will
allow the Company to further understand the structure and
stratigraphy at Happy Cat. The results are expected to refine drill
targets for a more significant follow-up drill program.
The drilling will take place within the approximate 4 square
kilometer main area of interest where hydrothermal fluids may have
been present (the "Alteration") under the relatively thin layer of
volcanics that the Company has identified through its past work-up
activities which include:
The 2022 UAV magnetic survey results indicate significant
NW trending faults (the "NW Faults") substantially spanning the
Property and intersecting the known northerly trending high angle
faults (the "N Faults"). Numerous magnetic anomalies
indicative of shallow intrusive structures are present along the N
Faults and the NW Faults with the most significant magnetic
anomalies located near fault intersections. Areas along these
faults and at their intersections, where hydrothermal fluids may
have been present, are prospective drill targets as these fluids
are typically associated with gold mineralization in Carlin-type deposits. Faulting on the Property
is of the correct orientation and age to have help formed
Carlin-type deposits.
The 2023 gravity survey results indicate the density of
the Alteration and its' density contrast relative to the host rock
is typical to that of alteration zones present at other
Carlin-type deposits in northern
Nevada.
The 2024 mercury vapor survey results confirm that
significantly elevated mercury values occur over interpreted
structures. These are thought to be leakage anomalies, where
locally higher permeability and the resultant oxidation of mercury
containing minerals releases mercury to the surface. The perimeter
of the moderate to high mercury values of the Hg survey coincides
with the Alteration and the highest mercury values trend
north-easterly through the center of the Alteration.
Mercury vapor surveys are used to identify drill targets with
the mercury anomalies being an excellent proxy for the location of
gold and other mineral deposits.
About Black Mammoth Metals Corporation:
In 2024, Black Mammoth Metals acquired a 100% interest in:
- Leadore Silver-Lead property, Lemhi County, ID,
- East Reveille Gold property, Nye County, NV,
- America Mine Gold
property, San Bernardino,
CA,
- Quito Gold property, Lander
County, NV,
- South Ravenswood District, Lander County NV,
- Callaghan Gold District, Lander County NV.
At the Company's 100% owned, 1,213 hectare (2,997 acre) Happy
Cat Gold property, Lander County,
NV, an approximate 4 square kilometre area is identified as
being hydrothermally altered. Structural modelling suggests the
density of the alteration and its' density contrast relative to the
host rock is typical to that of alteration zones present at other
Carlin-type deposits in northern
Nevada. The alteration encompasses
an area where northerly trending high-angle faults intersect
indicated NW-trending re-activated faults that are known to be of
age and orientation as ore-controlling faults occurring at other
Carlin-type deposits. The Company
intends to prioritize drill targets within the alteration area.
Black Mammoth also has a 100% interest in the Blanco Creek
Gold property in the Elk Creek Mining District, central
Idaho, which hosts three historic
underground mines along 3,550 meters (11,644 feet) of strike on the
north-east trending regional Blanco Shear
Zone. Exploration by two previous operators identified a
geological target for the Blanco Creek property in the order of
1.70 to 2.48 million tons, grading 0.20 to 0.33 oz/ton Au (1.54 to
2.24 million tonnes, grading 6.85 to 11.31 g/tonne Au); see the
Company's press release dated February 14,
2017.
Black Mammoth cautions investors to note the potential
quantity and grade of the geological target are conceptual in
nature. A qualified person has not completed sufficient work to
classify the geological target as mineral resources as defined by
NI 43-101, and it is uncertain if future exploration will result in
the target being delineated as mineral resources.
Mark J. Abrams, CPG #11451, a
Qualified Person as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI
43-101") and director of Black Mammoth, has reviewed and
approved the technical content in this release. Historical
information contained in this news release cannot be relied upon as
Mr. Abrams, the Company's Qualified Person, has not prepared or
verified the historical information.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President & CEO
Black Mammoth Metals
Corporation
Website: www.blackmammothmetals.com
This press release contains forward-looking statements and
forward-looking information (collectively, "forward looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical fact, included
herein, including statements regarding the Company's completion of
the Transaction and related transactions are forward-looking
statements. Forward-looking statements are typically identified by
words such as: believe, expect, anticipate, intend, estimate,
postulate and similar expressions or are those which, by their
nature, refer to future events. Although the Company believes that
such statements are reasonable, there can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking
statements by the Company are not guarantees of future performance,
and that actual results may differ materially from those in
forward-looking statements. Important factors that could cause
actual events and results to differ materially from the Company's
expectations include that the requisite corporate and TSXV for the
Transaction may not be obtained; that the Company or IDA Mining, as
applicable, may be unable to satisfy any or all closing conditions
necessary for the completion of the Transaction; and other risks
that are customary to transactions of this nature. Trading in the
securities of the Company should be considered highly speculative.
All of the Company's public disclosure filings may be accessed
via www.sedarplus.ca and readers are urged
to review these materials, including the latest technical reports
filed with respect to the Company's mineral properties.
Neither 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.
SOURCE Black Mammoth Metals Corp