Mammoth Samples Up to 23.6 Grams Per Tonne Gold at Its Tenoriba Property, Mexico
January 21 2013 - 6:30AM
Marketwired Canada
Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to report that it has
received assay results from samples taken from its first two exploration
campaigns by its geological team exploring the company's Tenoriba Property,
located in the prolific Sierra Madre precious metal belt in south western
Chihuahua state, Mexico (refer to the company's web site
www.mammothresources.ca, for a detailed location map). The best result from this
campaign assayed 23.6 grams per tonne (gpt) gold and 62.1 gpt silver, or 24.84
gpt gold equivalent (using a ratio of 50 gpt silver is equivalent to 1.0 gpt
gold based on current gold and silver prices). This single highest gold assay
was followed by 26 other samples that exceeded more than 2.0 gpt gold
equivalent, 45 results that exceeded 1.0 gpt gold and 85 samples that were
anomalous exceeding 0.3 gpt gold equivalent, of a total of 219 samples
collected. Furthermore, many of these samples came from areas where mapping and
sampling of similarly altered felsic volcanics and breccia with numerous
locations of vuggy silica occurred as much as one kilometre to the northeast and
to the southwest of the area of focused exploration and drilling by the previous
optionor, Masuparia Gold Corporation (Masuparia), where Masuparia assayed up to
45 grams per tonne gold (please refer to press release dated July 3, 2012 for
summary results of the Masuparia work).
Mammoth President and CEO, Thomas Atkins, commented on these assay results,
stating: "I was impressed with the rocks I saw in the field when I visited the
project only a month ago, in December. That we received so many samples with
anomalous values of gold, and some with very impressive values, is very
exciting. Many of these results are coming from areas that extend beyond the
attractive results achieved by Masuparia in their 2007 - 2008 program where
attractively altered and silicified volcanic rocks returned up to 45 grams per
tonne gold. We also expect to receive results shortly from our clay mineral
analysis work wherein 44 samples have been sent for XRF analysis to determine
the nature and relationship of clay minerals to hydrothermal processes in these
rocks. The team are just now returning to the project to continue their field
exploration work and will continue to extend their mapping and sampling as they
step-out further along the trend sampled and reported in this release and
attempt to identify geological controls for this mineralization. I look forward
to reporting on this work in the coming weeks."
The 219 surface rock samples and 7 stream sediments samples taken to date have
been collected over selected accessible portions of an approximate 12 square
kilometre area (an approximate 3 kilometre by 4 kilometre area). In addition, 44
surface and core samples have been selected for Xray Fluorescence analysis to
identify the type of clays present in the altered Tertiary felsic volcanic.
Identification of these clay alteration types will help to identify the type of
mineralization system (high, or possibly low-sulphidation, or porpyritic
epithermal-type) present at Tenoriba.
Overall, the field work to date has confirmed Masuparia's previous geological
observations, including the presence of a large area extending over numerous
square kilometres of altered Tertiary felsic volcanics intruded by diorite,
quartz monzonitic and quartz feldspar intrusives. Unsorted volcanic breccias
have been observed by the Mammoth team to be much more common throughout the
volcanic pile than previously reported.
Summary Table of Assay Results Exceeding 2.0 gpt Gold Equivalent
(a complete table of results assaying above 0.3 gpt gold equivalent are
presented in Table 1 attached to this release)
----------------------------------------------------------------------------
Sample
Interval/
Sample Sample Area Au Ag Au Eq
Number Method (m) (gpt) (gpt) (gpt)
----------------------------------------------------------------------------
330002 chip 0.4 23.60 62.1 24.84
----------------------------------------------------------------------------
330003 chip 0.6 3.74 12.3 3.99
----------------------------------------------------------------------------
330006 grab 8.36 18.4 8.73
----------------------------------------------------------------------------
330014 grab 6.17 7.8 6.33
----------------------------------------------------------------------------
330015 grab 1.0 x 2.5 0.37 235.0 5.07
----------------------------------------------------------------------------
330028 dump 4.33 2.7 4.38
----------------------------------------------------------------------------
330043 chip 0.4 1.05 42.9 1.91
----------------------------------------------------------------------------
330044 chip 1.0 1.16 39.7 1.95
----------------------------------------------------------------------------
330045 chip 1.5 0.53 51.9 1.57
----------------------------------------------------------------------------
330046 chip 1.5 0.70 63.0 1.96
----------------------------------------------------------------------------
330068 chip 1.5 1.04 30.0 1.64
----------------------------------------------------------------------------
330071 chip 1.5 1.67 68.2 3.03
----------------------------------------------------------------------------
330108 chip 1.5 0.62 97.0 2.56
----------------------------------------------------------------------------
330143 grab 0.77 106.0 2.89
----------------------------------------------------------------------------
330149 grab 5.71 4.0 5.79
----------------------------------------------------------------------------
330168 grab 1.61 24.2 2.09
----------------------------------------------------------------------------
330177 chip 1.0 11.90 15.5 12.21
----------------------------------------------------------------------------
330186 chip 1.7 3.50 44.1 4.38
----------------------------------------------------------------------------
330187 chip 1.0 5.10 42.3 5.95
----------------------------------------------------------------------------
330189 chip 1.0 1.75 42.1 2.59
----------------------------------------------------------------------------
330192 chip 1.0 1.40 29.6 1.99
----------------------------------------------------------------------------
330197 chip 1.5 3.84 8.6 4.01
----------------------------------------------------------------------------
330199 chip 1.0 2.16 17.1 2.50
----------------------------------------------------------------------------
330201 chip 1.0 2.17 11.2 2.39
----------------------------------------------------------------------------
330203 chip 0.6 1.21 68.5 2.58
----------------------------------------------------------------------------
330226 chip 1.5 2.12 36.5 2.85
----------------------------------------------------------------------------
TEN-12 chip 1.5 2.83 36.8 3.57
----------------------------------------------------------------------------
Mammoth's mapping has identified additional granodioritic and quartz feldspar
porphyritic intrusive bodies situated south west of Masuparia's previous mapped
area and steeply to moderately dipping north, northeast and northwest striking
structural trends which appear to control the higher gold values. Over the
Metalito and El Moreno areas (areas of small artisanal exploration and mining to
the north and west, respectively of Masuparia's area of focused exploration) and
in the Carneritos area (refer to figure 1. Sample Location Map), rocks with the
strongest silicification exhibit patchy vuggy silica texture which could be
hydrothermal in origin. Numerous areas with a concentration of vuggy silica
float are also observed throughout these areas. In addition, our work has also
identified the presence of minor white clay stringers of apparent hydrothermal
origin in Masuparia's diamond drill core and in two areas (El Moreno and Los
Carneritos), situated 0.7 kilometres west and 1.2 kilometres northeast of
Masuparia's drill area, respectfully. The presence of Alunite and/or Dickite
clay stringers and hydrothermal vuggy silica could be indicative of an
epithermal high sulphidation target exists at Tenoriba such as those hosted at
Alamos Gold's Mulatos deposit (wherein following commercial production in 2006
the asset is estimated to produce on average of approximately 150,000 ounces of
gold per year and still has approximately 2.0 million ounces of gold resource)
and Gold Corp's El Sauzal deposit (which to date has produced approximately 1.5
million ounces of gold).
Mammoth Resources will be at the Cambridge House Vancouver Resource Investment
Conference commencing Sunday, January 20 through Monday, January 21st - Booth
1911. The company will also, along with two other companies be hosting a free
luncheon presentation for those interested in learning more about the company
and its projects. Please visit our website for luncheon details.
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% each of the Urique and the Tenoriba Properties, both of which are
located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State,
Mexico. The company continues to seek other option agreements in the Americas 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
Urique property and is responsible for any technical data mentioned in this news
release. Samples were prepared and analyzed by ALS CHEMEX in their facilities in
Mexico and Canada, respectively or IPL Inspectorate in their facilities in
Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kilograms
of material. Gold analyses were performed by 30 gram fire assay with an Atomic
Absorption 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 one percent copper, lead and zinc were re-analyzed using ore grade
detection limits.
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, please visit the following link:
http://media3.marketwire.com/docs/mth0121fig1.pdf.
Table 1.
Assay Results
(all assays above 0.3 gpt Gold Equivalent)
----------------------------------------------------------------------------
Sample
Interval/
Sample Sample Area Au Ag Au Eq
Number Method (m) (gpt) (gpt) (gpt)
----------------------------------------------------------------------------
330002 chip 0.4 23.60 62.1 24.84
----------------------------------------------------------------------------
330003 chip 0.6 3.74 12.3 3.99
----------------------------------------------------------------------------
330004 chip 1.0 0.71 2.8 0.76
----------------------------------------------------------------------------
330006 grab 8.36 18.4 8.73
----------------------------------------------------------------------------
330007 chip 0.7 0.58 8.6 0.75
----------------------------------------------------------------------------
330010 chip 1.6 0.44 3.8 0.52
----------------------------------------------------------------------------
330011 grab 0.5 x 0.4 0.62 32.7 1.27
----------------------------------------------------------------------------
330013 grab 1.29 10.9 1.50
----------------------------------------------------------------------------
330014 grab 6.17 7.8 6.33
----------------------------------------------------------------------------
330015 grab 1.0 x 2.5 0.37 235.0 5.07
----------------------------------------------------------------------------
330016 grab 2.0 x 2.0 0.83 10.4 1.04
----------------------------------------------------------------------------
330017 grab 2.0 x 2.0 0.32 4.6 0.42
----------------------------------------------------------------------------
330019 chip 1.5 0.46 0.5 0.47
----------------------------------------------------------------------------
330028 dump 4.33 2.7 4.38
----------------------------------------------------------------------------
330040 grab 0.7 x 0.7 0.64 10.2 0.85
----------------------------------------------------------------------------
330041 chip 1.0 0.65 36.2 1.37
----------------------------------------------------------------------------
330042 chip 0.4 0.80 38.4 1.57
----------------------------------------------------------------------------
330043 chip 0.4 1.05 42.9 1.91
----------------------------------------------------------------------------
330044 chip 1.0 1.16 39.7 1.95
----------------------------------------------------------------------------
330045 chip 1.5 0.53 51.9 1.57
----------------------------------------------------------------------------
330046 chip 1.5 0.70 63.0 1.96
----------------------------------------------------------------------------
330047 chip 1.5 0.39 1.8 0.43
----------------------------------------------------------------------------
330048 chip 1.5 0.62 1.6 0.65
----------------------------------------------------------------------------
330049 chip 1.5 0.46 2.4 0.51
----------------------------------------------------------------------------
330051 chip 1.7 0.41 16.4 0.73
----------------------------------------------------------------------------
330054 chip 1.0 0.42 0.4 0.43
----------------------------------------------------------------------------
330068 chip 1.5 1.04 30.0 1.64
----------------------------------------------------------------------------
330069 chip 1.5 0.30 17.3 0.65
----------------------------------------------------------------------------
330071 chip 1.5 1.67 68.2 3.03
----------------------------------------------------------------------------
330080 grab 0.57 11.9 0.81
----------------------------------------------------------------------------
330108 chip 1.5 0.62 97.0 2.56
----------------------------------------------------------------------------
330110 chip 1.0 0.32 5.6 0.44
----------------------------------------------------------------------------
330129 chip 1.5 0.35 43.1 1.22
----------------------------------------------------------------------------
330143 grab 0.77 106.0 2.89
----------------------------------------------------------------------------
330149 grab 5.71 4.0 5.79
----------------------------------------------------------------------------
330151 grab 1.04 1.5 1.07
----------------------------------------------------------------------------
330152 chip 0.9 0.58 33.4 1.25
----------------------------------------------------------------------------
330153 chip 0.9 0.57 38.9 1.35
----------------------------------------------------------------------------
330154 chip 1.5 0.56 35.5 1.27
----------------------------------------------------------------------------
330155 chip 1.5 0.41 35.6 1.12
----------------------------------------------------------------------------
330156 chip 1.4 0.31 2.6 0.36
----------------------------------------------------------------------------
330166 chip 1.5 0.55 5.7 0.67
----------------------------------------------------------------------------
330167 grab 0.85 15.2 1.16
----------------------------------------------------------------------------
330168 grab 1.61 24.2 2.09
----------------------------------------------------------------------------
330169 chip 1.0 1.11 10.8 1.33
----------------------------------------------------------------------------
330170 chip 1.0 1.11 8.0 1.27
----------------------------------------------------------------------------
330177 chip 1.0 11.90 15.5 12.21
----------------------------------------------------------------------------
330182 chip 1.5 0.32 2.8 0.37
----------------------------------------------------------------------------
330183 chip 1.0 0.44 2.9 0.50
----------------------------------------------------------------------------
330185 chip 1.8 0.58 6.5 0.71
----------------------------------------------------------------------------
330186 chip 1.7 3.50 44.1 4.38
----------------------------------------------------------------------------
330187 chip 1.0 5.10 42.3 5.95
----------------------------------------------------------------------------
330188 chip 1.0 0.86 3.8 0.94
----------------------------------------------------------------------------
330189 chip 1.0 1.75 42.1 2.59
----------------------------------------------------------------------------
330190 chip 1.0 0.54 15.6 0.85
----------------------------------------------------------------------------
330191 chip 1.0 0.41 4.5 0.50
----------------------------------------------------------------------------
330192 chip 1.0 1.40 29.6 1.99
----------------------------------------------------------------------------
330193 chip 1.5 0.41 3.5 0.48
----------------------------------------------------------------------------
330194 chip 1.0 0.85 4.7 0.94
----------------------------------------------------------------------------
330195 chip 1.0 1.02 7.6 1.17
----------------------------------------------------------------------------
330196 chip 1.0 1.40 7.3 1.54
----------------------------------------------------------------------------
330197 chip 1.5 3.84 8.6 4.01
----------------------------------------------------------------------------
330198 chip 1.2 1.01 9.0 1.19
----------------------------------------------------------------------------
330199 chip 1.0 2.16 17.1 2.50
----------------------------------------------------------------------------
330201 chip 1.0 2.17 11.2 2.39
----------------------------------------------------------------------------
330202 1.0 0.60 2.6 0.65
----------------------------------------------------------------------------
330203 chip 0.6 1.21 68.5 2.58
----------------------------------------------------------------------------
330205 chip 1.4 0.32 1.1 0.35
----------------------------------------------------------------------------
330206 chip 2.0 0.47 1.0 0.49
----------------------------------------------------------------------------
330208 chip 1.0 0.48 3.5 0.55
----------------------------------------------------------------------------
330209 chip 2.0 0.49 1.1 0.51
----------------------------------------------------------------------------
330221 grab 0.39 14.4 0.67
----------------------------------------------------------------------------
330222 chip 1.0 0.88 39.3 1.67
----------------------------------------------------------------------------
330223 chip 1.5 0.31 17.2 0.65
----------------------------------------------------------------------------
330224 chip 1.5 1.10 21.5 1.53
----------------------------------------------------------------------------
330226 chip 1.5 2.12 36.5 2.85
----------------------------------------------------------------------------
TEN-10 grab 3.0 x 4.0 0.52 5.0 0.62
----------------------------------------------------------------------------
TEN-12 chip 1.5 2.83 36.8 3.57
----------------------------------------------------------------------------
TEN-3 chip 0.8 0.45 1.9 0.48
----------------------------------------------------------------------------
TEN-5 grab 0.46 5.9 0.58
----------------------------------------------------------------------------
TEN-9 chip 1.5 0.32 3.8 0.40
----------------------------------------------------------------------------
FOR FURTHER INFORMATION PLEASE CONTACT:
Mammoth Resources Corp.
Thomas Atkins
President & CEO
(416) 479-0887
(416) 363-4567 (FAX)
tom@mammothresources.ca
www.mammothresources.ca
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