No.24-17
BMM: TSX-V
VANCOUVER, BC, Nov. 19,
2024 /CNW/ - Black Mammoth Metals
Corporation (TSXV: BMM) (OTC: LQRCF) ("Black Mammoth"
or the "Company") is pleased to announce that on November 14, 2024 Antelope Creek Gold Corporation
("Antelope Creek"), a wholly owned subsidiary of Black Mammoth, has
entered an agreement to purchase ("Agreement") the East Reveille
Gold property ("East Reveille") with a private vendor ("Vendor")
providing Antelope Creek with a 100% interest in East Reveille,
Nye County, Nevada.
East Reveille is located 67 miles east of Tonopah and consists of 13 federal mining
claims (108 hectares, 268 acres), administered by the Bureau of
Land Management, covering the east side of the Reveille Mining
District (see Figure 1). Historic drilling has discovered gold
associated with rhyolite dikes and tuffs that contain anomalous
arsenic and antimony mineralization like a Carlin-type gold system, as well as gold
mineralization along the altered contact of silicified siltstone
and limestone sequences (jasperoids) of the underlying Antelope
Valley Formation. Significant molybdenum and copper geochemistry
indicates an associated porphyry target. Gold mineralization occurs
over an area of at least 2,400 meters (7,874 feet) by 1,200 meters
(3,937 feet) with a vertical range of at least 300 meters (984
feet) in the Antelope Valley Formation, a known host for
Carlin-type deposits. Large areas
of jasperoid development have gold and arsenic values in altered
carbonate sediments beneath overlying altered rhyolite tuffs (see
Figure 2). Historical drill holes indicate thick zones of highly
anomalous gold with higher grade gold intercepts of 7.62 meters
(25 feet) of 0.9 g/t and 4.57 meters (15 feet) of 1.25
g/t.
As gold mineralization is associated with the rhyolites, the
entire property can be considered prospective, prompting Black
Mammoth Metals to plan detailed mapping and sampling of the
rhyolite caprock to guide a new phase of drilling in 2025.
Acquisition Terms (in USD):
Under the terms of the Agreement, Antelope Creek may purchase
East Reveille by making a cash payment of $75,000 (paid) at which time a 100% interest will
automatically vest.
Upon the Company declaring a 43-101 compliant maiden resource at
East Reveille, $75,000 will be
payable within 30 days and another $75,000 will be payable within one year. These
payments do not have an expiry date and will not apply to
subsequent resources declared on the Property.
There are no retained royalties, work commitment amount,
finder's fees or share compensation in connection with the
Agreement.
About Black Mammoth Metals Corporation:
In 2024, Black Mammoth Metals has acquired a 100% interest in
the America Mine gold property, San Bernardino, CA, the Quito gold property, Lander County, NV and has consolidated
South Ravenswood and Callaghan gold Districts, also
in Lander County NV.
At the Company's 100% owned, 1,213 hectare (2,997 acre) Happy
Cat gold property, Lander County,
NV, an approximate 4 square kilometre area is identified as
being hydrothermally altered. Structural modelling suggests 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 area.
Black Mammoth also has a 100% interest in the Blanco Creek
gold property in the Elk Creek Mining District, central
Idaho, which hosts three historic
underground mines along 3,550 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
1.70 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 14,
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, a
Qualified Person as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI
43-101") and director of Black Mammoth, has reviewed and
approved the technical content in this release. Historical
information contained in this news release cannot be relied upon as
Mr. Abrams, the Company's Qualified Person, has not prepared or
verified the historical information.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President & CEO
Website: www.blackmammothmetals.com
This press release contains forward-looking statements and
forward-looking information (collectively, "forward looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical fact, included
herein, including statements regarding the Company's completion of
the Transaction and related transactions 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 that the requisite corporate and TSXV for the
Transaction may not be obtained; that the Company or IDA Mining, as
applicable, may be unable to satisfy any or all closing conditions
necessary for the completion of the Transaction; and other risks
that are customary to transactions of this nature. 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.sedarplus.ca and readers are urged
to review these materials, including the latest technical reports
filed with respect to the Company's mineral properties.
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.
SOURCE Black Mammoth Metals Corp
