Mammoth Resources Announces Diamond Drilling Program Results
Mammoth Resources announced results coming from three additional drill holes in its diamond drilling program executed at the company’s Tenoriba gold-silver project in Chihuahua, located in the Sierra Madre precious metal belt.
The Canadian company’s drilling program aimed to test up to five target zones of gold-silver mineralization identified by an Induced Polarization/Magnetometer (IP/Mag) geophysical survey. Using this data, the targets were 3D-modeled based on the surface and other geophysical data. According to the company's statement, it completed three further diamond drill holes for a total of 539.75m, bringing the total of the program to 1,535m in 10 holes.
Mammoth named the new holes drilled in Moreno area TEN 21-10, TEN 21-11 and TEN 21-12.
For the TEN 21-10 hole, it reported a lithic volcanic tuff with 0.25g/t of gold from 120.7m to the bottom of the hole at 244m. TEN 21-13 revealed gold-silver, as well as some copper contained in a silica-dickite clay alteration in the volcanic breccia present on the surface.
“We believed there was always potential to intersect higher grade mineralization, as in hole 21-06 in the Masuparia area. Here, we are again seeing the same higher-grade intervals over tens of meters in the Moreno area with hole 21-13. Combined with gold-silver, as we have seen before in the Moreno area, this mineralization also contains copper,” said Thomas Atkins, President and CEO, Mammoth Resources.
“The combination of both these higher-grade intervals with more modest grade intervals over tens of meters within this large area of mineralization and kilometers of strike length, characterized by geological features typical to large high sulfidation precious metals systems, give the potential to build a substantial mineral resource. I look forward to reporting on additional results in the coming weeks,” Atkins added.
The Tenoriba mine is fully owned by Mammoth Resources. It is located in the southwest of Chihuahua and covers an area of 5,333ha, consisting of four concessions, some of which were Masuparia Gold Corporation’s property before. Mammoth Resources acquired them subject to a 2 percent net smelter return royalty upon commercial production.