Toronto, Canada (June 14, 2017) - Mammoth Resources Corp. (TSX-V: MTH), (the "Company") is pleased to announce initial results from its surface channel sampling program at its Tenoriba project in Chihuahua, Mexico. The Company had announced earlier this year a program of infill PIMA sampling, drill road construction and channel sampling to better define drill targets following up on prior surface sampling and an IP and Magnetometer geophysics survey. At present six channels have been cut at Carneritos and the El Moreno areas of the property, areas separated one from the other by approximately three kilometres east to west (refer to Figure 1 - Channel Sample Location Map and Figure 2 - Carneritos and El Moreno Channel Samples) with additional channels being cut and others being excavated along with the drill road construction. Samples are available from one channel cut at El Moreno and two at Carneritos (refer to Table 1 - Channel Sample Results). Results are summarized below:
| Location |
Sample Numbers |
Channel Width (m) |
True Width (m) |
Weighted Average Gold Grade (g/t) |
Weighted Average Silver Grade (g/t) |
Weighted Average Gold Equivalent* Grade (g/t) |
|---|---|---|---|---|---|---|
| El Moreno 1 | 330732 to 330740 | 13.60 | 11.50 | 0.64 | 2.5 | 0.67 |
| Carneritos 1 | 330743 to 330750 and 330754 to 330756 |
15.75 | 15.50 | 0.99 | 6.1 | 1.07 |
| Carneritos 2 | 330757 to 330761 | 7.40 | 7.00 | 1.28 | 8.2 | 1.36 |
* Gold Equivalent wherein silver grade is converted to gold grade at 75 g/t silver = 1 g/t gold
Thomas Atkins, President and CEO of Mammoth commented on the channel sample results stating: "These results are consistent with what we've seen in drill core and surface samples and are typical of High Sulphidation systems. We'd previously collected hundreds of chip samples over the large 15 square kilometre mineralized area on the property with many of these samples assaying from a couple of grams gold per tonne to as much as 75 grams gold per tonne combined with lower grade mineralized intervals. What's impressive with these channel samples is we're seeing attractive potentially economic grades in material over continual widths of 23 to 50 feet with extensions to these mineralized intervals limited only by available outcrop. Being on surface and given gold on the property occurs as free gold and amenable to heap leaching these grades are comparable to numerous economically robust open pit heap leach mines in operation in Mexico."
Results from this channel sampling program correspond well with geophysical features extending at depth with these surface channel samples assisting to confirm attractive drill targets with such drilling aimed at extending the results achieved from these channel samples at depth. Mammoth plans to cut and sample additional channels and expects to report on these over the coming weeks. Results from this trenching will be incorporated into other surface and geophysical data to finalize drill hole locations for a diamond drill program expected to commence shortly after the completion of the drill road construction and this trenching/channel sampling program.
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. Samples referenced in this press release were prepared and analyzed by ALS CHEMEX in their facilities in Mexico and Canada, respectively. Samples generally consisted of over a minimum of 2 kilograms of material. Gold and silver 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 1% Cu, Pb and Zn were re-analyzed using ore grade detection limits. Blank and duplicate samples were inserted randomly at approximately every 20 samples.
About Mammoth Resources:
Mammoth Resources Corp. (TSX-V: 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% of 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.
Table 1 - Channel Sample Results
| Sample No. |
Location |
Sample Length (m) |
Gold Grade (g/t) |
Silver Grade (g/t) |
Gold Equivalent Grade (g/t) |
Weighted Gold Equivalent Grade (g/t) |
| 330732 | Moreno 1 | 1.50 | 0.19 | 1.10 | 0.20 | 0.30 |
| 330733 | " | 1.50 | 0.30 | 1.70 | 0.32 | 0.48 |
| 330734 | " | 1.50 | 2.95 | 5.90 | 3.03 | 4.54 |
| 330735 | " | 1.60 | 0.29 | 3.00 | 0.33 | 0.52 |
| 330736 | " | 1.50 | 0.18 | 0.80 | 0.19 | 0.28 |
| 330737 | " | 1.50 | 0.16 | 1.40 | 0.18 | 0.27 |
| 330738 | " | 1.50 | 0.53 | 1.60 | 0.55 | 0.83 |
| 330739 | " | 1.50 | 0.96 | 5.60 | 1.03 | 1.55 |
| 330740 | " | 1.50 | 0.23 | 1.00 | 0.24 | 0.36 |
| Total | 13.60 | 0.67 | ||||
| True Width | 11.50 | |||||
| 330743 | Carneritos 1 | 1.50 | 0.78 | 10.90 | 0.92 | 1.38 |
| 330744 | " | 1.50 | 0.30 | 0.70 | 0.31 | 0.46 |
| 330745 | " | 1.25 | 7.48 | 45.40 | 8.09 | 10.11 |
| 330746 | " | 1.30 | 0.23 | 1.60 | 0.25 | 0.33 |
| 330747 | " | 1.50 | 0.48 | 1.00 | 0.49 | 0.74 |
| 330748 | " | 1.50 | 0.54 | 0.90 | 0.56 | 0.83 |
| 330749 | " | 1.20 | 0.53 | 4.60 | 0.59 | 0.71 |
| 330750 | " | 1.50 | 0.31 | 0.70 | 0.32 | 0.48 |
| 330754 | " | 1.50 | 0.35 | 0.70 | 0.35 | 0.53 |
| 330755 | " | 1.50 | 0.53 | 4.30 | 0.59 | 0.88 |
| 330756 | " | 1.50 | 0.23 | 1.70 | 0.26 | 0.38 |
| Total | 15.75 | 1.07 | ||||
| True Width | 15.50 | |||||
| 330757 | Carneritos 2 | 1.80 | 0.58 | 1.10 | 0.60 | 1.07 |
| 330758 | " | 1.80 | 0.50 | 1.50 | 0.52 | 0.93 |
| 330759 | " | 1.50 | 0.57 | 6.20 | 0.65 | 0.98 |
| 330760 | " | 1.30 | 2.42 | 18.40 | 2.67 | 3.46 |
| 330761 | " | 1.00 | 3.52 | 5.40 | 3.59 | 3.59 |
| Total | 7.40 | 1.36 | ||||
| True Width | 7.00 |
Figure 1 - Channel Sample Location Map
Figure 2 - Carneritos and El Moreno Channel Samples
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