Reported Drill Intersect of 46.9 g/t Gold over 1.9 metres at Tenoriba, Mexico & Sample of 74 g/t Gold
The Mammoth Resources’ (MTH.V) Tenoriba property consists of over 40 sq km located along the prolific Sierra Madre precious metal belt where over 80 million ounces of gold equivalent (gold and silver) have been produced (a World Class precious metal belt) and over just the past 20 years an additional 40 million ounces of gold equivalent have been discovered.
The project is close to water, roads, village, power, nearby public fixed wing landing strip and contractors with heavy equipment, yet there is no significant population that is resident on the actual property thereby reducing social issues associated with project development.
The project has undergone surface mapping, sampling, soil and rock geochemical analysis and has demonstrated all the attributes of a High Sulphidation, precious metal system - similar to Goldcorp’s El Sauzal mine (3.3 M ounces) and Alamos’ Mulatos mine (4.8 M ounces) located in the same Sierra Madre belt. Gold grades are distributed over a large 15 km2 area of the property; in one of three areas (Los Carneritos) within this 15 km2 area, measuring 1.5 x 0.7 km, 74% of 146 rock chip samples collected (115 samples) produced potentially economical grades of gold with silver and averaged 1.56 grams/tonne (g/t) gold.
The highest-grade surface sample collected was a 1 x 1 metre sample assaying "74 g/t gold" and there are more than 20 samples with grades above 10 g/t gold. Los Carneritos alone given its size could have the potential to host over 1.0 million ounces of gold;
Mammoth performed a geophysics survey over approximately half of the property and saw a strong correlation between areas with gold values on surface and threes same geophysical features extending to depth of more than 100 metres making these features attractive drill targets for the depth extension of what has been sampled on surface;
The project was previously drilled for the first time in 2008 by a predecessor company that forfeited the property to the owners following the global financial crisis and they reported potentially economical results in 10 of the first 15 drill holes with highlight intersections including the highest grade intersect assaying "46.9 g/t gold" over 1.9 metres and the longest continuous intersection assaying 0.5 g/t gold over 66.0 metres;
The project as a drill permit good for 4 years to drill an unlimited number of metres in up to 20 drill locations, and has been granted surface access to drill the project.
In summary, ubiquitous gold occurs over a large 15 sq km area in over 400 samples collected by Mammoth. Gold simply doesn’t occur in this abundance over such a large area if it’s not from a prolific mineralizing system. The Tenoriba project has all the characteristics of a High Sulphidation precious metal system and these systems areas acknowledged, and proven large mineralizing systems. The surface work done has identified attractive drill targets to test the depth extent of the surface mineralization.
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