Mammoth Posts Complete Geophysics Report From the Survey Performed on Its Tenoriba Project on Its Website, Report Illustrates...
April 09 2014 - 11:22AM
Marketwired
Mammoth Posts Complete Geophysics Report From the Survey Performed
on Its Tenoriba Project on Its Website, Report Illustrates Numerous
Attractive Features at Depth
TORONTO, ONTARIO--(Marketwired - Apr 9, 2014) - Mammoth
Resources Corp. (TSX-VENTURE:MTH) has posted the complete
geophysics report, with recommendations, various surface plans and
geophysical survey cross sections from the Induced Polarization and
Magnetic ground geophysics survey performed in late 2013. The
company announced on January 16, 2014 the completion of the survey,
which covered approximately one-third of the large 15 square
kilometre target area of gold and silver mineralization at its
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).
Thomas Atkins, President and CEO of Mammoth Resources commented
on results from the survey, stating: "Initially, when the company
received the written report and some surface plans discussing
results of the geophysical survey, we were impressed by the number
of targets identified by the survey. The coincidence of these
geophysical targets with where we'd mapped attractive precious
metal enriched rocks, with good assay results, was encouraging.
Now, viewing the complete survey information, in particular the
survey line cross sections, the company is very excited by the
coincidence of these precious metal enriched rocks at surface and
the extent to which we see these same features extending to depth
in these sections. The extension of these features at depth was
exactly what we'd hoped for from this survey. Our next steps are to
design a drill program to test these features at depth. We
anticipate a first phase drill program consisting of 15 to 20 drill
holes totalling 2,500 to 3,000 metres and expect to report on the
results of this planning and the nature of these targets in the
coming weeks. The company has been seeking quotations for such a
program and it's likely no surprise that high drill rig
availability offers terrific economies for drilling at this time.
The company is also advancing the permitting process, including
having consulted with those involved in the process at the state
ministry office and is optimistic of receiving permits with little
issue."
Ground Induced Polarization / Magnetic Geophysical Survey:
The geophysical surveys were performed over three grids, each
grid consisting of north-south oriented lines spaced at 100 metre
intervals. Line lengths varied from 1.2 kilometres to 2.5
kilometres, often depending on topography and ease of access in
which to conduct the ground survey. A total of 32.2 linear
kilometres were surveyed. The complete report, including all maps,
plans and sections available in the appendices section following
the written report, is available on the company's website, at:
www.mammothresources.ca, Projects Section, Technical Reports.
Numerous cross sections, including: section 58400E in the El
Moreno geophysical grid, section 59800E and 59900E in the Masuparia
grid and sections 60500E and 61300E in the los Carneritos grid,
which can be seen in the appendices section of the report, are good
illustrations of intriguing geophysical features in particular in
the Resistivity-True Depth interpretative section portion in these
survey sections where such features are indicated as occurring near
surface (where the company has mapped and sampled elevated precious
metal values in attractive host rocks) and extending to depths
greater than 100 metres.
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 and has reviewed any technical data mentioned in
this news release.
The company would also like to announce that it has issued to
certain directors and officers of the company 379,000 stock options
to purchase shares in the company exercisable at a price of $0.05
per share for a period of five years, pursuant to the rules of the
company's stock option plan.
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% in the Tenoriba
Property 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.
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.
Neither the 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.
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.
Mammoth Resources Corp.Thomas AtkinsPresident & CEO(416)
479-0887(416)
363-4567tom@mammothresources.cawww.mammothresources.ca
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