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Mammoth Provides Update on Diamond Drilling at its Tenoriba Gold-Silver Property, Mexico

14.10.2021  |  The Newswire
Toronto, October 14, 2021 - Mammoth Resources Corp. (TSXV:MTH) (OTC:MMMRF), (the "Company", or "Mammoth") is pleased to provide an update on its diamond drilling program at its 100% owned Tenoriba gold-silver property located in the prolific Sierra Madre precious metal belt, Mexico. The drill program is designed to test up to five target zones which measure from hundreds to over a kilometre (km) in strike length along a 4 km, east-west trend of gold-silver mineralization identified in 3-dimensional (3D) modelling incorporating data from over 3,000 soil, chip and channel samples, 26 prior diamond drill holes, geological and structural mapping and the potential continuity at depth of surface mineralization as indicated by an Induced Polarization/Magnetometer (IP/Mag) geophysical survey (please refer to the descriptions of target zones in press releases dated July 22, 2021).

Thomas Atkins, President and CEO of Mammoth commented on the advancement of the drill program stating: "The amount of rain that frequently inundated the project area during much of August and September has, during the end of September and into October, transitioned to less frequent heavy rainfall. The reduction in rain has enabled the drillers more consistent access to the drill sites and the ability to drill. The second drill rig arrived mid September and was operating later in the month.

"Despite the considerable challenges imposed by the weather the past 8 weeks, to date four holes have been completed for a total of 420 metres. This isn't a pace we expect going forward in more favourable weather conditions without the delays caused by the frequent heavy rain of the past weeks. Logging and sampling of core has generally kept pace with drilling with the first shipment delivered to the laboratory on September 25th and the most recent shipment of samples delivered yesterday. A total of 249 samples are now in the process of laboratory analysis.

"We're hoping the drillers will continue to get some breaks in the weather that will allow drill production to be sustained as the rainy season continuers to taper. However, suggesting this Hurricane Pamela is making its way northeast across the adjacent states of Sinaloa and Durango, Mexico on its projected path towards Texas and is again expected to bring heavy rainfall to the project area over the next couple of days. The tapering in rainfall is expected to continue as the Atlantic and Pacific hurricane seasons end in November."

With two diamond drill rigs are on site, Mammoth is aiming to test targets generated over a 4 km trend of surface gold-silver mineralization and 3D modelling of all surface and geophysical data. The Company is also exploring engaging a second drill contractor possibly with another drill rig to make up for the reduced drill production which occurred in August and September due to the heavy rainfall.

As previously discussed, Mammoth intends to initially drill 2 - 4 holes within each target zone then move to another target zone to drill a similar number of holes. Company geologists will await the results from the earlier holes testing the earlier target zones prior to further follow up drilling of these areas. The initial holes, currently being drilled, are testing targets in the Carneritos area in the east of the 4 km trend of gold-silver mineralization and 3D modelling."

The Company remains optimistic it will have some initial results to report from the first drill holes before the end of October, although we cannot be certain of this timing. The Company looks forward to further announcements in the coming weeks, including drill hole assay results any additional weather-related delays and drill rig progress.

Mammoth is in the process of creating a video illustrating some of the activities at the project during the past weeks. Please keep an eye on our website in the "Projects" section, "Maps, Images and Photographs" for this video, expected to be completed and posted next week.

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on 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., or contact Thomas Atkins, President and CEO at: 416 509-4326.

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.

Copyright (c) 2021 TheNewswire - All rights reserved.


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