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Mammoth Resources Corp V.MTH

Alternate Symbol(s):  MMMRF

Mammoth Resources Corp. is a Canada-based precious metal mineral exploration company. The Company is focused on acquiring and defining precious metal resources in Mexico and other jurisdictions in the Americas. The Company holds a 100% interest in the 5,333-hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. The Company 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. The Tenoriba property is comprised of four concessions, such as Mapy, Mapy 2, Mapy 3 and Fernanda.


TSXV:MTH - Post by User

Bullboard Posts
Post by scissors14on Dec 12, 2016 6:00pm
94 Views
Post# 25588695

Four Year Drill Permit Extension

Four Year Drill Permit ExtensionMAMMOTH RESOURCES ACQUIRES FOUR YEAR DRILL PERMIT EXTENSION TO DRILL ITS TENORIBA PROJECT Toronto, Canada (November 29, 2016) - Mammoth Resources Corp. (TSX-V: MTH), (the Company) is pleased to announce that it has been granted a four year extension to its drill permit to drill from up to 16 drill pad locations with an unlimited number of metres and holes to be drilled from these locations. The company had previously had a two year drill permit which expired this month and had applied for the extension in September in anticipation of its objective of drill testing numerous highly anomalous targets next year within a 15 square kilometre area on its Tenoriba High Sulphidation gold-silver property in the prolific Sierra Madre area of southwestern Chihuahua State, Mexico. In other news the company has recently received the results from its PIMA sampling program wherein it intended to perform a systematic PIMA, X-ray diffraction ground survey whereby company geologists would collect rock samples every 100 metres along lines oriented approximately northsouth, spaced 500 metres apart and covering all of the 15 square kilometres are previously identified as highly anomalous in gold and silver through soil geochemical and channel-chip sampling, mapping and IP and Magnetometer ground geophysics. The company is analyzing the results from this program and is expected to release these results shortly. The company is also negotiating an extension to the surface access agreements with two ejidos that cover the project area, neither of which have yet expired and is optimistic of these extensions and is finalizing terms on a drill contract to drill test targets generated by this PIMA program and other work on the project, such contract to enable Mammoth to compensate the drill contractor half in cash and half in Mammoth shares. Previous work at Tenoriba by Mammoth has included detailed mapping and sampling, and a magnetometer and Induced Polarization surface geophysics program over approximately half of the large 15 square kilometre area of mineralization. Sampling to date has resulted in over 250 gold samples ranging from 0.3 grams per tonne (gpt) gold to as high as 26.9 gpt gold in channel samples from 1.0 to 2.5 metres in length and occasional grab samples. These samples also host geochemical characteristics typical of HS systems, including elevated values of Antimony, Mercury and Arsenic associated with gold. Prior to Mammoths involvement at Tenoriba the property was covered by a soil geochemical sampling program and a small portion of the property, comprising approximately 20% of the 4,200 hectares of the property, was drill tested with 15 diamond drill holes results of which were announced in June 2008. Highlight intersections from this drilling included gold values ranging from as high as 46.9 gpt gold over a 1.9 metre core length, 2.26 gpt gold over a 11.5 metre core length and 1.03 gpt gold over a 34.4 metre core length (the orientation of the geological features in which the good was sampled is unknown at this time). All results of sampling are available in a technical report dated February 20, 2014 on the Companys web site.
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