Results

Mammoth Resources Corp.

03/03/2021 | Press release | Distributed by Public on 03/03/2021 06:22

Mammoth Begins Infill Geophysics Survey At Tenoriba Gold-Silver Property, Mexico

Toronto, Canada (March 3, 2021) - Mammoth Resources Corp. (TSX-V: MTH), (the 'Company', or 'Mammoth') is pleased to announce that it has begun the Induced Polarization/Magnetometer (IP/Mag) geophysics survey designed to infill most of the approximate 60% of the 6-kilometre trend of gold-silver and copper mineralization not covered by the previous geophysics survey over its 100% owned Tenoriba project, located in the prolific Sierra Madre precious metal belt in southwestern Chihuahua State, Mexico.

Thomas Atkins, President and CEO of Mammoth commented on the commencement of the geophysics program, stating:'Results from our 2018 drill program proved that IP/Mag could be an effective tool to help identify attractive drill targets at Tenoriba, having intersected potentially economical grades and widths of gold-silver and copper in 8 of 11 holes drilled during the program sporadically testing features across a 4-kilometre trend of the larger 7-kilometre trend of surface mineralization. As we prepare to identify drill hole target locations for our 2021, 50-hole drill program to further test at depth abundant surface mineralization over this trend, we wanted to have a more complete picture of potential mineralized features at depth and as a result we viewed it as essential that we perform this infill survey to close off large gaps in the geophysics across much of this 6-kilometre trend. Mammoth has also engaged the services of Intelligent Exploration and its highly experienced principal geophysicists to assist in the design of this survey. The expertise of Intelligent Exploration's geophysicists will help assist in maximizing the survey's potential output and to assist in interpreting results in order to assist in identifying attractive drill targets along the trend of surface mineralization. We look forward to reporting on results from this work over the coming weeks, including illustrating drill targets derived from this infill geophysics survey.'

A total of approximately 70 kilometres of ground IP/Mag geophysics is to be performed over areas to the east, west and gaps in between what had previously been surveyed at Tenoriba over portions of 6-kilometre trend of surface mineralization in the high sulphidation stratigraphy mapped and sampled at Tenoriba (refer to Figure 1 - Layout of Geophysics Grid, 2021 Infill IP/Mag Geophysics Survey, which illustrates the location and extent of the additional geophysics lines to be performed over areas of mapped surface geology, chip and channel sampling and prior drilling). In addition to the new survey lines Mammoth is also repeating three lines over the Carneritos area in the eastern portion of the trend, having adjusted the methodology of the survey measurements in an attempt to enhance the observed features in this highly prospective portion of the trend where drill hole TEN 17-06 intersected 126.8 metres grading 0.52 gram/tonne gold equivalent (including 7.2 gram/tonne silver converted to gold equivalent at 65:1 silver:gold ratio) and including a higher grade interval of 58.2 metres grading 0.81 gram/tonne gold equivalent section (including 3.9 grams/tonne silver converted to gold at a similar silver:gold ratio).

Mammoth intends to also perform follow up and infill mapping and sampling to supplement the information from this geophysical survey. All additional data will be incorporated with all historic surface and drill data to assist in 3D modelling of surface and subsurface features to be performed by Intelligent Exploration to target drill hole locations for the Company's planned 2021, 50-hole diamond drill program.

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.

Figure 1 - Layout of Geophysics Grid, 2021 Infill IP/Mag Geophysics Survey