2013-02-25 16:16:32 -
TORONTO, ONTARIO -- (Marketwire) -- 02/25/13 -- Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to announce that it has received results from the X-Ray Diffraction (XRD) analysis performed on 72 samples collected on a portion of its 8,100 hectare Tenoriba project, located in southwestern Chihuahua State, Mexico. The XRD analysis identified the presence of numerous alteration minerals, which when combined with the presence of vuggy silica, silicic, advanced to intermediate argillic alteration, in rocks covering an approximate 15 square kilometer area, provide further compelling evidence that the Tenoriba project hosts a high-sulphidation precious metal target. The association of Kaolinite and Dickite in particular identifies almost complete acid attack of an advanced argillic alteration system, which is a compelling observation indicating a strong and active epithermal system. Refer to Figure 1. - Sample Location Map of XRD Samples, Tenoriba Project.
Mammoth President and CEO Thomas Atkins commented on the results from these samples, stating: "The XRD analysis has identified the presence of various alteration minerals throughout an approximate three by five kilometre area in the project. These minerals combined with the numerous surface samples containing gold and silver, the highest of which assayed 23.6 grams per tonne gold and 62.1 grams per tonne silver, provide further compelling evidence of a large, favourable, precious metal mineralized system at Tenoriba. The company looks forward to results of ongoing mapping and sampling on the property to help assist in better understanding controls to this mineralization as we advance the project towards the selection of targets to be drill tested later this year."
A total of 72 samples were collected and sent to Recursos Geosiences de Mexico S.A de C.V (RGM) in Hermosillo, Sonora State, Mexico for XRD analysis with Terraspec. Approximately half of the samples were analyzed in at least two and sometimes three places to identify the presence of different minerals, taking into account the presence of vein or veinlets and the alteration in the host rock, yielding a total of 104 spectral analysis. The XRD analysis confirms the field observations, that the approximately 15 square kilometre area of moderately to strongly argillic and weakly silicified Tertiary felsic volcanic rocks appear to represent the alteration footprint of a high-sulphidation epithermal mineralizing system.
Recent field work has also identified irregular, patchy, vuggy silica, often pyrite rich and anomalous in gold (greater than 0.1 grams per tonne gold) in outcrops and over areas of angular rock float. In addition, minor clay stringers were located in these same rocks. These alterations features were generally hosted by strongly to moderately argillic and frequently weakly to strongly silicified tertiary felsic volcanic rocks which are similar to the high-sulphidation epithermal systems responsible for Goldcorp's El Sauzal mine (approximately 2.0 million ounces of gold) and Alamos Gold's Mulatos mine (approximately 2.0 million ounces of gold ), located approximately 50 kilometres north, northeast and 300 kilometres northwest, respectively from the Tenoriba project.
To date, mapping and sampling by company geologists, led by the company's Vice President of Exploration, Richard Simpson, have highlighted two major target areas where anomalous gold and silver plus alteration clays (Dickite, Kaolinite and Alunite) are present. The areas include El Moreno and Los Carneritos situated east and west, respectively of the area of historic drilling by the previous optioning party, Masuparia Gold (drilled in 2007 and 2008). Recent reconnaissance work has also identified the Arroyo Verde area as a third area where clays (Dickite and Kaolinite) and vuggy plus opaline-silica are present. Refer to Figure 1. - Sample Location Map of XRD Samples, Tenoriba Project.
In addition discreet structural and possible lithological mineralization controls have been identified within the 3 by 5 kilometres geochemically anomalous area, including near vertical northeast, northwest and north-south trending structures and near flat lying volcanic breccias. The discreet structural controls generally exhibit a moderate to strong silica alteration with or without sulphide (pyrite) and with frequent patchy vuggy silica texture present. The best channel sample results from these discreet structures assayed 23.6 grams per tonne (gpt) gold and 62.1 gpt silver, or 24.84 gpt gold equivalent (using a ratio of 50 gpt silver is equivalent to 1.0 gpt gold based on current gold and silver prices), over 0.4 metres and 11.9 gpt gold and 15.5 gpt silver, or 12.2 gpt gold equivalent over 1.0 metre and were previously reported (press release dated January 18, 2013).
Additional detailed mapping is programmed in all three areas to better understand the controls to mineralization. Induced polarization and magnetic geophysics surveys are also being considered later in the first half of the year to assist with the interpretation of mineralization controls at depth as an aid in target identification prior to drill testing.
About Mammoth Resources:
Mammoth Resources (TSX VENTURE:MTH) is a mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company has an option to acquire 100% of the Urique Property and the Tenoriba Property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico and continues to seek other option agreements on other properties it deems to host above average potential for economic concentrations of precious metals mineralization.
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 project and is responsible for any technical data mentioned in this news release.
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.
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.
To view "Figure 1. Sample Location Map of XRD Samples, Tenoriba Project, Chihuahua State, Mexico", please visit the following link: media3.marketwire.com/docs/MTH225-Figure1.pdf
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