VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Black Mammoth
Metals Corporation (TSX-V: BMM) (OTC: LQRCF) ("Black
Mammoth" or the "Company") is pleased to announce that it has
contracted MWH Geo-Surveys International Inc. of Reno, Nevada ("MWH") to conduct a Magnetometer
Survey with the use of an Unmanned Aerial Vehicle ("UAV-MAG") at
the Company's 100% owned Happy Cat gold property in Nevada ("the Property"). MWH, a leader in the
UAV space, will also complete Orthophoto/Digital Surface
Modelling.
The main objective of the surveys is to further define drill
targets by identifying zones of favorable lithology, and alteration
features permissive to hosting gold mineralization that may extend
under shallow cover from known areas of near surface
mineralization, and to identify any potentially mineralized faults.
These surveys will also work towards the Company's objective of
identifying the source of the near surface widespread gold
mineralization that occurs in an unconformity exposed at the
surface. This mineralized area lies at the basal contact of
Tertiary volcanic rocks with sedimentary rocks within a 600-metre
diameter circular area, described in the Company's news release
dated November 25, 2020. Although the
Happy Cat property has been drilled and trenched by prior
operators, no known geophysical work has yet to be conducted aside
from the larger regional geophysical surveys. The UAV-MAG is
expected to commence early next week covering the entire Property
area.
The UAV-MAG produces magnetic data of high accuracy and
resolution due to the high data capture rate, slower flight speeds
and lower altitude. The Orthophoto can produce a digital surface
model of the Property with accuracy of approximately 5 cm,
horizontal and vertical. The data will be processed by Integrated
Geophysics Corporation of Houston,
Texas, an independent geophysical firm with extensive
experience handling UAV-MAG data.
MWH Geo-Surveys International Inc. has been conducting gravity
and magnetic surveys and their related topographical surveys since
1980 for projects around the world. While the UAV-MAG is relatively
new, MWH has been a leader in developing a field proven system
integrating the UAV equipment, the magnetic system and flight
controlling software with more than 30,000 flown kilometers. With
UAV-MAG, high resolution magnetic data can now be acquired rapidly,
economically, and safely in any terrain.
The TSX Venture Exchange has accepted for filing with the
effective date of January 26, 2021,
the Happy Cat property transaction described in the Company's news
release dated November 25, 2020 where
Antelope Creek Gold Corporation ("Antelope Creek Gold"), a wholly
owned subsidiary of Black Mammoth Metals Corporation, has entered
into an Assignment and Assumption Agreement dated November 20, 2020 with IDA Gold Corporation
("IDA") pursuant to which IDA has assigned, and Antelope Creek Gold
has assumed, 100% of the rights, title and obligations of the
Assignee for the acquisition of the Happy Cat Gold Property located
in central Nevada.
Mark J. Abrams, CPG #11451,
Non-Independent Qualified Person as defined by NI 43-101 and
Director of Black Mammoth has approved the technical information
contained in this news release.
About Black Mammoth Metals Corporation:
Black Mammoth has 11,081,871 shares issued and outstanding,
11,556,871 fully diluted.
Along with the Company's 100% owned Happy Cat Gold Property,
subject to underlying royalties, Black Mammoth has a 100% interest,
subject to underlying royalties, in the Blanco Creek gold property
in central Idaho which hosts three
historic underground mines along 3550 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 1.7 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 14th, 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.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President, CEO and Corporate Secretary
Website: www.blackmammothmetals.com
"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." This press release contains
forward-looking statements and forward-looking information
(collectively, "forward looking statements") within the meaning of
applicable Canadian and United
States securities laws. All statements, other than
statements of historical fact, included herein, including
statements regarding the anticipated content, commencement,
duration and cost of exploration programs, anticipated exploration
program results, the discovery and delineation of mineral
deposits/resources/reserves, the timing of the receipt of assay
results, the visual continuity of certain mineralized intervals and
business and financing plans and trends, the potentially open
nature of the mineralized zones on the property and the potential
for future discoveries of additional mineralization on the property
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 those related to weather, equipment
and staff availability; performance of third parties; timing of
receipt of assay results from third party analytical facilities;
risks related to the exploration stage of the Company's projects;
market fluctuations in prices for securities of exploration stage
companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the
Company's ability to identify one or more economic deposits on the
properties, and variations in the nature, quality and quantity of
any mineral deposits that may be located on the properties; risks
related to the Company's ability to obtain any necessary permits,
consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce
minerals from the properties successfully or profitably. 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.sedar.com and readers
are urged to review these materials, including the latest technical
reports filed with respect to the Company's mineral
properties.
SOURCE Black Mammoth Metals Corp
