Oct 25 2013
Mammoth Resources Corp. is pleased to announce that is has begun a ground Induced Polarization (IP) and Magnetometer (Mag) geophysical survey over select areas of the company's Tenoriba property, located in the prolific Sierra Madre precious metal belt in south western Chihuahua state, Mexico (refer to the company's web site www.mammothresources.ca, for a detailed location map).
The company has selected areas comprising approximately half of the large 15 square kilometre area of the property in which it has mapped and sampled various high sulphidation gold features with numerous sample values in excess of 0.3 grams per tonne (gpt) gold and silver. The survey also covers the area previously drilled by Masuparia Gold Corporation In 2007-2008 in which they reported: "All fifteen drill holes intersected anomalous gold values, often over wide intervals" with the company highlighting intersections in 10 of 15 drill holes, the highest grade being a 1.9 metre intersection in drill hole TDH-07 grading 45.9 gpt gold and the longest mineralized intersection being a 66.0 metre intersection in drill hole TDH-14 averaging 0.50 gpt gold (refer to Sedar, Masuparia Gold Corporation filing June 30, 2008). Total length of surveyed lines is approximately 32 kilometres (refer to Figure 1. Geophysics Survey Location Map).
Thomas Atkins, President and CEO of Mammoth Resources commented on these results, stating: "We've designed the survey to cover approximately half of the area in which we've mapped and sampled the best precious metal values. However, as we're testing the application of the geophysics in delineating these surface features at depth, we've chosen at this time and until we know of the effectiveness of the geophysics, to refrain from covering the entire 15 square kilometre area of mineralization. We've included the area previously drilled by Masuparia in the survey in order that we might determine the extent of the features Masuparia intersected with their drilling, plus any extensions or trends to these features, prior to drill testing any such extensions ourselves. Our hope is that the survey will identify at depth the features we've mapped and sampled at on the surface at Carneritos and El Moreno, plus those drilled by Masuparia and allow us to better target such features to be drill tested following interpretation of the results of the geophysics."
Mammoth expects to complete the survey by the end of November with the interpretation of survey results to follow soon thereafter. The company will report on these survey results once available.
In separate news the company has issued another $45,250 in Units of it's previously announced (refer to press release dated September 10, 2013) private placement financing bringing the total proceeds from this financing to $599,370 of its $600,000 objective.
Qualified Person / Quality Controls:
Richard Simpson, P.Geo., Vice-President Exploration for Mammoth Resources Corp. is Mammoth's Qualified Person, according to National Instrument 43-101, for the Tenoriba property and is responsible for and has reviewed any technical data mentioned in this news release.
Press release avilable from http://www.marketwired.com/