InvestmentPitch Media Video Discusses Mammoth Resources’ Report of 81.0 Metres Grading 0.48 g/t and 48.0 metres Grading 1.21 g/t AuEq from diamond drilling in Mexico

Rhea-AI Summary

Mammoth Resources Corp. (OTCPink:MMMRF) has announced results from four additional drill holes at its Tenoriba gold property in Mexico. This brings the total length of drilled holes to 2,624 meters out of 3,240 meters planned. Notably, drill hole TEN21-21 intercepted nearly 50 meters of gold-silver mineralization above 1.2 g/t AuEq, among the best results to date. However, drill hole TEN21-18 was abandoned due to poor ground conditions, but indications suggest continued mineralization at greater depths. Results from six more holes are expected soon.

Positive

• Drill hole TEN21-21 intersected almost 50 m of gold-silver mineralization grading above 1.2 g/t AuEq.
• Total of 27 drill holes planned, with 4 holes reported bringing total drilled to 2,624 meters.
• Drill program targets up to 5 zones of gold-silver mineralization over a significant area.

Negative

• Drill hole TEN21-18 had to be abandoned due to poor ground conditions.
• No financial metrics or specific economic valuations provided in the report.

VANCOUVER, British Columbia, Aug. 05, 2022 (GLOBE NEWSWIRE) -- Mammoth Resources Corp. (TSXV:MTH), (OTCPink:MMMRF) released results for an additional four drill holes from its diamond drilling program at its Tenoriba gold property in Mexico. 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, subject to a 2% net smelter royalty purchasable for US$1.5 million anytime within two years from commencement of commercial production.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments from Thomas Atkins, President and CEO of Mammoth Resources. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Mammoth” in the search box.

A total of 27 holes were drilled for a total of 3,240 metres, with 4 holes released today. 17 were previously released, with results from the remaining 6 holes expected to be released in the coming weeks.
The drill program was designed to test up to 5 target zones which measure from 100’s of metres to over one km in strike length along a 4 km, east-west trend of gold-silver mineralization.

The targets were identified in 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 IP/Mag geophysical survey. Today’s 4 holes, TEN21-18 to 21, totalling 389 metres, bring the total reported to date to 2,624 metres.

These holes were all collared in the Carneritos target area where abundant surface gold-silver mineralization occurs within a large 1,400 metre long by up to 500 metre wide area. A summary of potentially economical intervals from the four drill holes reported today are shown in the video.

Drill hole TEN21-18 did not reach its targeted depth as it was abandoned due to poor ground conditions as drill rods tightened and were at risk of being lost. The hole returned potentially economical gold Eq values over the entire core interval and given it had to be abandoned due to poor ground conditions, it is believed that additional potential exist for continued gold-silver mineralization at greater depths.

Drill hole TEN 21-21 was successful in intercepting almost 50 m of higher than 1.2 g/t gold Eq gold-silver mineralization, one of the highest grade-thickness holes drilled at Carneritos to date. Further drilling from 50 to 200 m to the north, west and northwest of this hole is recommended to assist in defining the northcentral limits to gold-silver mineralization at Carneritos.

Richard Simpson, Vice President Exploration, added: “Similar to what Tom is stating, I’m highly encouraged by these results, both the lengthy intervals and intervals at higher grades. Based on surface geology and sampling results we believed there was the potential for these higher grades. It’s terrific to be intersecting them over such interval lengths and we believe this bodes well for future drilling and a robust gold-silver mineral resource at Carneritos.”

For more information on today’s results please refer to today’s news release. 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.

The shares are trading at $0.035. For more information, please visit the company’s website, www.MammothResources.ca, contact Thomas Atkins, President & CEO, at 416-509-4326 or by email at tr_atkins@rogers.com.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Mammoth Resources has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What were the results from Mammoth Resources drill holes at Tenoriba in August 2022?

Mammoth Resources reported additional results from four drill holes at the Tenoriba property, with hole TEN21-21 intercepting almost 50 m of mineralization over 1.2 g/t AuEq.

How many drill holes has Mammoth Resources completed at the Tenoriba property?

As of the latest report, Mammoth Resources has completed a total of 27 drill holes, with 2,624 meters drilled.

What challenges did Mammoth Resources face during drilling at Tenoriba?

Drill hole TEN21-18 was abandoned due to poor ground conditions, although it returned potentially economical gold Eq values.

When can we expect more drill results from Mammoth Resources?

Results from the remaining six drill holes are expected to be released in the coming weeks.

Where is the Tenoriba gold property located?

The Tenoriba gold property is located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico.