Mammoth Identifies Two by Five Kilometre Area of Anomalous Gold Mineralization Within Its Tenoriba Property, Commences Tenori...
October 18 2012 - 11:52AM
Marketwired Canada
Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to report the preliminary
results of efforts to consolidate the historical data generated from the
Tenoriba Property by the predecessor optioning party Masuparia Gold Corporation.
The Tenoriba Property is located in the state of Chihuahua, Mexico only 100
kilometres south of the company's Urique Property (refer to Figure 1. Mammoth
Resources - Project Location Map and press release dated July 3, 2012 with
regards to terms of the company's option agreement on the Tenoriba Property
http://media3.marketwire.com/docs/MTHFig1.pdf).
The consolidation work highlighted the presence of a large irregular shaped
approximately 5.0 kilometre by 2.0 kilometres, generally east - west striking
soil gold anomaly with numerous surface rock samples assaying greater than 5.0
gram per tonne (g/t) gold up to as high as 23.75 g/t gold (refer to Figure 2. -
Surface Rock Sample and Colour Contoured Gold Soil Map of the Tenoriba Property
http://media3.marketwire.com/docs/MTHFig2.pdf). The consolidation work was
performed mainly from Masuparia's 2007-2008 exploration program which includes
1,893 soil samples, 90 stream samples and 686 rock surface samples.
Mammoth President and CEO, Thomas Atkins, commented on the results of the
consolidation work, stating: "Almost half of the two kilometre by five kilometre
area of anomalous gold in soil results show values in excess of 0.2 parts per
million, or 0.2 grams of gold per tonne, in soil. This anomalous area is very
large and in addition to attractive gold in soil values, is supported throughout
this same area by numerous surface rock samples ranging from five grams per
tonne gold with many in excess of ten grams per tonne gold up to almost 24 grams
per tonne gold. We're very encouraged by such a large geochemically anomalous
footprint on the property and are eager to begin our field program to explore
this area in greater detail with a focus on understanding the geological and
structural controls to this attractive gold mineralization which remains open
along strike to the east and the west."
The gold in soil anomaly is frequently associated with other anomalous elements
such as Silver, Copper, Lead, Zinc and Molybdenum. The consolidation work also
includes the review of Masuparia's (2007 - 2008) 15 diamond drill holes
totalling 2,570.4 metres of HQ & NQ size drill core.
The company would also like to announce commencement of its 2012 surface
sampling and mapping program on the Property. Mammoth's phase one field program
will initially concentrate on re-logging the existing holes and verify the
geology and previously interpreted mineralization controls. An effort will be
made to correlate the surface and diamond drill geology with these same
mineralization controls. Afterwards, the company plans to extend the surface
mapping and sampling to area within the property beyond those explored by
Masuparia in search of additional areas of alteration and/or mineralized with
characteristics similar to those observed in the area of prior exploration. A
camp facility, including historical core storage and core logging facilities
exists on site, left behind by Masuparia.
The phase one program is expected to take approximately three to four months to
complete followed by analysis of results and a discussion on recommendations for
future work. The company is well funded to execute this program. In the coming
months the company looks forward to reporting on results from this 2012 field
program at Tenoriba.
About Mammoth Resources:
Mammoth Resources (TSX VENTURE:MTH) is a mineral exploration company focused on
acquiring and defining precious metal resources in Mexico and other attractive
mining friendly jurisdictions in the Americas. The Company has an option to
acquire 100% of the Urique Property and the Tenoriba Property located in the
Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico and
continues to seek other option agreements on other properties it deems to host
above average potential for economic concentrations of precious metals
mineralization.
Qualified Person / Quality Controls:
Richard Simpson, P.Geo., Vice-President Exploration for Mammoth Resources Corp.
is Mammoth's Qualified Person, according to National Instrument 43-101, for the
Tenoriba property and is responsible for any technical data mentioned in this
news release.
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.
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.
To view "Figure 1. Mammoth Resources - Project Location Map", please visit the
following link: http://media3.marketwire.com/docs/MTHFig1.pdf.
To view "Figure 2. - Surface Rock Sample and Colour Contoured Gold Soil Map of
the Tenoriba Property", please visit the following link:
http://media3.marketwire.com/docs/MTHFig2.pdf.
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