Mammoth Samples Up to 15.2 Grams Per Tonne Gold Equivalent at Its Tenoriba Project, Mexico
October 10 2013 - 9:50AM
Marketwired Canada
Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to announce grab sample
assay results for its most recent and its seventh exploration campaign on 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).
Of 66 surface rock samples collected during this campaign in which company
geologists continued to map and sample various areas at Tenoriba, 59 percent of
all samples collected assayed greater than 0.3 grams per tonne gold equivalent
(taking into account a silver : gold ratio of 50:1) and in two instances samples
assayed in excess of 10 gpt.
Highlights from the sampling are summarized below and referenced in Table 1 -
Sample Results.
Cerro Colorado Area:
-- 15.24 gpt gold equivalent with 7.00 gpt gold and 412.0 gpt silver from a
grab sample;
-- 9.72 gpt gold equivalent with 9.39 gpt gold and 16.7 gpt silver over a
1.0 metre channel sample;
-- 6.23 gpt gold equivalent with 5.49 gpt gold and 37.1 gpt silver over a
1.1 metre channel sample;
-- 4.07 gpt gold equivalent with 3.49 gpt gold and 29.2 gpt silver over a
1.5 metre channel sample.
Los Carneritos Area:
-- 13.05 gpt gold equivalent with 5.97 gpt gold and 354.0 gpt silver from a
grab sample;
-- 5.81 gpt gold equivalent with 5.06 gpt gold and 37.3 gpt silver over a
1.2 metre channel sample;
-- 4.33 gpt gold equivalent with 3.56 gpt gold and 38.6 gpt silver over a
1.2 metre channel sample.
Thomas Atkins, President and CEO of Mammoth Resources commented on these
results, stating: "The Cerro Colorado area is located approximately half a
kilometre west of the area in which we'd previously been performing most of our
mapping and sampling. What is of particular interest at Cerro Colorado is the
field crew was able to trench across some of the highly silicified structures
which assayed an average of 4.52 grams per tonne gold equivalent over a width of
4.1 metres in one trench while another assayed an average 1.75 grams per tonne
gold over 6.0 metres. These are a continuation of terrific grades we've achieved
elsewhere over 15 square kilometres of the project and in particular, these
results occur over good intersection widths. With the recent results from bottle
roll tests indicating this material could be amenable to heap leach extraction
of gold, values like this are very encouraging."
Los Carneritos Area:
At the Los Carneritos target area the presence of silicified volcanic, chaotic
breccia with local vuggy silica has been further extended an additional 200
meters to the southwest of the area previously sampled by Mammoth geologists,
giving a total strike length of this structure of almost two kilometres by 800
metres, with favourable host rock (chaotic breccia) plus alternation (silica,
Dickite). Sample results continue to return highly anomalous values of gold and
silver (greater than 0.30 gpt gold equivalent) (refer to figure 1). In addition
three samples (sample numbers 330489, 330490 and 330491) of the four samples
taken in highly argillized volcanic tuff interstratified with the volcanic,
chaotic breccia returned gold values of from 0.095 to 0.151 gpt gold (these
samples are not reported in Table 1. Such values illustrate that these highly
argillized felsic tuffs are not sterile and could still host at depth a
mineralized vuggy silica body related to a feeder zone or a late enriched
structure.
Cerro Colorado Area:
At the Cerro Colorado area two hand-dug trenches exposed highly silicified
volcanic rocks with vuggy silica texture. Samples of these trenches returned
highly anomalous assay results (refer to the table below). These trenches are
from an approximate 50 square metre area where previous surface samples had
returned various results assaying greater than 1.0 gpt gold (refer to Figure 1 -
Sample Location Map, Tenoriba Project, Mexico, Seventh Exploration Campaign).
Average
Average Gold
Trench Average Silver Equivalent
Number Sample Number Width Gold Grade Grade Grade
---------- ---------------- ------------ ----------- ----------- -----------
(from - to) (metres) (gpt) (gpt) (gpt)
1 330624 - 330626 4.1 3.90 31.2 4.52
2 330627- 330630 6.0 1.46 14.6 1.75
In addition, west of Cerro Colorado sample 330641 returned 9.39 gpt gold and
16.7 gpt silver over 1.0 metre. What is unique about this sample is that it
occurred within a tourmaline bearing granodiorite breccia within what is
interpreted as the contact between younger volcanic units and the older
granodiorite. Mineralization of this type is different from the epithermal high
sulphidation model that company geologists have seen in other areas of the
property. However, a high sulphidation model is frequently reported to host a
sterile tourmaline alteration zone distal from the vuggy silica mineralized
core. Either way, this sample and area will be further investigated when company
geologists return to the field to further map and sample the property.
Sample 330633 returned 7.0 gpt gold and 412 gpt silver from a large sub in-place
highly silicified float - sub crop located approximately 140 metres northwest of
a series of small artisanal pits where local artisanal miners are reported to
pan for free gold from dirt and highly argillized young felsic volcanic soil.
This area also warrants further investigation.
To date mapping and sampling has covered no more than 60 percent of the 8,100
hectares contained within the property concessions.
Current activities:
Company staff recently mobilized to site after a period of inactivity during the
later portion of July, all of August and a portion of September due to intense
rain in the Sierra region. Since mobilizing, activities have included the
re-opening of the field camp, road repair due to the heavy rain and establishing
a grid for a ground-based geophysical survey. It is the company's intention to
engage a contract geophysics firm to conduct a ground Induced Polarization (IP)
and Magnetometer (Mag) geophysical survey over select areas of the property. The
company is hopeful that readings from this survey will assist company geologists
in better interpreting at depth the extent and orientation of mineralized
features observed at surface. It is hoped that with a better sense of the extent
and orientation of such features at depth geologists will be able to improve the
targeting of drill holes to test these features at depth.
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, including the BCSC edits. Samples referenced in
this press release 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.
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.
To view "Table 1 - Sample Results" and "Figure 1 - Sample Location Map, Tenoriba
Project, Mexico, Seventh Exploration Campaign", please visit the following link:
http://media3.marketwire.com/docs/mammoth_resources_oct10.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Mammoth Resources Corp.
Thomas Atkins
President & CEO
tom@mammothresources.ca
www.mammothresources.ca
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