/NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S.
NEWSWIRE/
VANCOUVER, BC, Aug. 8, 2023
/CNW/ - Black Mammoth Metals Corporation (TSXV: BMM)
(OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased
to announce that it intends to raise gross proceeds of up to
$100,000 by way of a private
placement (the "Offering") of up to 1,000,000 common shares of the
Company at a price of $0.10 per Unit
(the "Units"). Each Unit consists of one common share of the
Company and one common share purchase warrant (the "Warrant"), with
each Warrant exercisable into one common share of the Company for a
period of 4 years from the issue date at an exercise price of
$0.15. The Units will be subject to a
four month hold period from the date of closing. A finder's
fee may be payable in accordance with the policies of the TSX
Venture Exchange ("TSX-V").
The Company intends on using the proceeds of the Offering for
its Blanco Creek gold property located in Idaho and its Happy Cat gold property in
Nevada and for general working
capital. The Offering is subject to the approval of the TSX-V.
About Black Mammoth Metals
Corporation:
Black Mammoth has 14,876,871 shares issued and outstanding,
19,771,871 shares fully diluted.
The Company has completed a ground gravity survey that is
now modeled and interpreted in conjunction with the recent UAV
magnetic survey at its 100% owned, 1213 hectare (2997 acre)
Happy Cat gold property, in southern Ravenswood Mining
District, Lander County,
Nevada.
An approximate 4 square kilometre area is identified as a
potential alteration zone where hydrothermal fluids may be present
(the "Alteration"). The structural modelling suggests that the
density of the Alteration and its' density contrast relative to the
host rock is typical to that of alteration zones present at other
Carlin-type deposits in northern
Nevada. The Alteration encompasses
an area where northerly trending high angle faults intersect
indicated NW trending re-activated faults that are known to be of
age and orientation as ore-controlling faults occurring at other
Carlin-type deposits. The Company
intends to prioritize drill targets within the Alteration.
Black Mammoth also has a 100% interest, subject to underlying
royalties, in the Blanco Creek gold property in the Elk
Creek Mining District, 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.
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.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President & CEO
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
