Mammoth Reports Positive Early Results From Initial Work Program at Urique
February 23 2012 - 8:00AM
Marketwired Canada
Mammoth Resources Corp. (TSX VENTURE:MTH) ("Mammoth" or the "Company") provides
the following update at its Urique property in Mexico. The Company has initiated
its exploration work program focused on mapping and sampling at the San Pedro
target in Urique North and at Urique South in line with the recommendations as
set out in the Urique Project National Instrument 43-101 ("NI 43-101") technical
report dated December 14, 2011 filed on SEDAR. The work program is being
overseen by Richard Simpson, Mammoth's VP of Exploration.
Urique North:
The Company has received assay results from samples taken at the San Pedro
target that identify multiple new zones of gold mineralization and enhance the
potential of known zones based on work previously conducted by Yale Resources
Ltd.. Anomalous gold values (greater than 0.3 g/t Au) have been identified
throughout an area measuring approximately 1,400 metres by 1,000 metres. During
this initial work phase, a total of 121 rock chip samples were taken at the
entrance of small mine workings and seven hand-dug trenches. To date only 50.6
metres have been sampled along selected trenches as sampling concentrated on
quartz veins and the immediate wall rock. A number of trenches require
additional sampling, a focus of continuing work currently underway.
Gold and silver at San Pedro occurs in epithermal low sulfidation style
mineralization made up of widely spaced quartz veins/minor stock work zones and
shear zones associated with felsic dykes hosted in altered volcanic rocks.
Highlights from this sampling are listed below:
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Location metres Au (g/t) Ag (g/t)
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Monse pit 5.90 0.48 4.2
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incl: 0.60 3.65 31.4
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Monse working 2.00 5.52 38.5
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Mina San Pedro 6.40 0.60 13.8
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Area Mirador pit 2 0.60 1.32 42.4
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Trench 1 3.00 0.67 5.8
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incl: 0.50 2.46 22.3
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Eloy pit 1 1.20 0.92 3.4
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Eloy pit 2 1.70 1.24 4.5
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Trench 2 3.90 1.41 3.5
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incl: 2.40 2.24 5.4
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Curva pit 3.60 0.78 1.2
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Trench 4 2.60 1.42 8.4
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incl: 0.80 3.77 13.3
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Trench 6 0.20 18.78 91.9
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and 0.20 1.63 50.7
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Trench 7 1.00 0.53 1.6
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and 0.70 4.07 2.5
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Urique South:
Field work in the southern portion of the property, approximately 9 km southeast
of San Pedro, commenced in mid-January with 93 rock samples taken from
previously identified targets. In preparation for mapping and sampling, the
entrances to various historical mines have been cleared within the 3 km by 2 km
Urique Target Area, including the Mina Feliciano, Rosario and Texcalama
historical mine workings. At La Patricia, mapping and sampling has been
conducted and two hand-dug trenches totaling 138 linear metres have been opened
and sampled across the structure and its interpreted extension.
Ongoing work in Urique South will continue to develop a geological database and
understanding of the Urique Target Area, which contains greater than 20 historic
producing mines, as well as investigate numerous other targets and prospects
located in the southern portion of the property that borders Goldcorp's El
Sauzal property.
Samples from the San Pedro target were prepared and analyzed by IPL Inspectorate
in their facilities in Mexico and Vancouver, respectively. Samples generally
consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire
assay with an AA finish. Silver, copper, lead and zinc were analyzed as part of
a multi-element ICP package using an aqua regia digestion. Over limit samples
with greater than 1% Cu, Pb and Zn were re-analyzed using ore grade detection
limits.
Mr. Richard Simpson, P. Geo., Vice-President of Exploration of the Company, is
the Qualified Person as defined by NI 43-101, and is responsible for the
accuracy of the technical data and information contained in this news release.
About Mammoth Resources Corp.
Mammoth Resources Corp. (TSX VENTURE:MTH) is a mineral exploration company
focused on acquiring and defining gold and silver resources in Mexico. The
Company has an option to acquire 100% of the Urique Project located in the
Sierra Madre Precious Metals Belt, in southwestern Chihuahua State and is
located immediately north of Goldcorp's El Sauzal gold mine and immediately
south of Kimber Resources' Monterde Property.
This news release contains certain forward-looking statements that reflect the
current views and/or expectations of Mammoth with respect to its future events
including statements with respect to its exploration activities. Such statements
are subject to a number of risks, uncertainties and assumptions which may cause
actual results to be materially different from those expressed or implied and
includes uncertainties regarding implementation of the Company's business
strategies and exploration plan and changes in the regulatory environment
affecting the Company. The Company assumes no future obligation to update these
forward-looking statements except as required by applicable securities laws.
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