Mammoth Resources Begins Geophysics Survey on Its Tenoriba Project, Mexico
October 24 2013 - 2:41PM
Marketwired Canada
Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to announce that is has
begun a ground Induced Polarization (IP) and Magnetometer (Mag) geophysical
survey over select areas of 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).
The company has selected areas comprising approximately half of the large 15
square kilometre area of the property in which it has mapped and sampled various
high sulphidation gold features with numerous sample values in excess of 0.3
grams per tonne (gpt) gold and silver. The survey also covers the area
previously drilled by Masuparia Gold Corporation In 2007-2008 in which they
reported: "All fifteen drill holes intersected anomalous gold values, often over
wide intervals" with the company highlighting intersections in 10 of 15 drill
holes, the highest grade being a 1.9 metre intersection in drill hole TDH-07
grading 45.9 gpt gold and the longest mineralized intersection being a 66.0
metre intersection in drill hole TDH-14 averaging 0.50 gpt gold (refer to Sedar,
Masuparia Gold Corporation filing June 30, 2008). Total length of surveyed lines
is approximately 32 kilometres (refer to Figure 1. Geophysics Survey Location
Map).
Thomas Atkins, President and CEO of Mammoth Resources commented on these
results, stating: "We've designed the survey to cover approximately half of the
area in which we've mapped and sampled the best precious metal values. However,
as we're testing the application of the geophysics in delineating these surface
features at depth, we've chosen at this time and until we know of the
effectiveness of the geophysics, to refrain from covering the entire 15 square
kilometre area of mineralization. We've included the area previously drilled by
Masuparia in the survey in order that we might determine the extent of the
features Masuparia intersected with their drilling, plus any extensions or
trends to these features, prior to drill testing any such extensions ourselves.
Our hope is that the survey will identify at depth the features we've mapped and
sampled at on the surface at Carneritos and El Moreno, plus those drilled by
Masuparia and allow us to better target such features to be drill tested
following interpretation of the results of the geophysics."
Mammoth expects to complete the survey by the end of November with the
interpretation of survey results to follow soon thereafter. The company will
report on these survey results once available.
In separate news the company has issued another $45,250 in Units of it's
previously announced (refer to press release dated September 10, 2013) private
placement financing bringing the total proceeds from this financing to $599,370
of its $600,000 objective.
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.
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 " Figure 1. Geophysics Survey Location Map", please visit the following
link: http://media3.marketwire.com/docs/Mammoth_Figure1.jpg
FOR FURTHER INFORMATION PLEASE CONTACT:
Mammoth Resources Corp.
Thomas Atkins
President & CEO
tom@mammothresources.ca
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