TORONTO, ONTARIO, Oct 24, 2013 (Menafn – Marketwired via COMTEX) –Mammoth Resources Corp. is pleased to announcethat is has begun a ground Induced Polarization (IP) and Magnetometer(Mag) geophysical survey over select areas of the company’s Tenoribaproperty, located in the prolific Sierra Madre precious metal belt insouth western Chihuahua state, Mexico (refer to the company’s website www.mammothresources.ca, for a detailed location map).
The company has selected areas comprising approximately half of thelarge 15 square kilometre area of the property in which it has mappedand sampled various high sulphidation gold features with numeroussample values in excess of 0.3 grams per tonne (gpt) gold and silver.The survey also covers the area previously drilled by Masuparia GoldCorporation In 2007-2008 in which they reported: “All fifteen drillholes 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-07grading 45.9 gpt gold and the longest mineralized intersection beinga 66.0 metre intersection in drill hole TDH-14 averaging 0.50 gptgold (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 onthese results, stating: “We’ve designed the survey to coverapproximately half of the area in which we’ve mapped and sampled thebest precious metal values. However, as we’re testing the applicationof the geophysics in delineating these surface features at depth,we’ve chosen at this time and until we know of the effectiveness ofthe geophysics, to refrain from covering the entire 15 squarekilometre area of mineralization. We’ve included the area previouslydrilled by Masuparia in the survey in order that we might determinethe extent of the features Masuparia intersected with their drilling,plus any extensions or trends to these features, prior to drilltesting any such extensions ourselves. Our hope is that the surveywill identify at depth the features we’ve mapped and sampled at onthe surface at Carneritos and El Moreno, plus those drilled byMasuparia and allow us to better target such features to be drilltested following interpretation of the results of the geophysics.”
Mammoth expects to complete the survey by the end of November withthe interpretation of survey results to follow soon thereafter. Thecompany will report on these survey results once available.
In separate news the company has issued another 45,250 in Units ofit’s previously announced (refer to press release dated September 10,2013) private placement financing bringing the total proceeds fromthis financing to 599,370 of its 600,000 objective.
Qualified Person / Quality Controls:
Richard Simpson, P.Geo., Vice-President Exploration for MammothResources Corp. is Mammoth’s Qualified Person, according to NationalInstrument 43-101, for the Tenoriba property and is responsible forand has reviewed any technical data mentioned in this news release.
About Mammoth Resources:
Mammoth Resources is a mineral exploration companyfocused on acquiring and defining precious metal resources in Mexicoand other attractive mining friendly jurisdictions in the Americas.The Company has an option to acquire 100% in the Tenoriba Propertylocated in the Sierra Madre Precious Metal Belt in southwesternChihuahua State, Mexico. The company continues to seek other optionagreements in the Americas on other properties it deems to host aboveaverage potential for economic concentrations of precious metalsmineralization.
To find out more about Mammoth Resources and to sign up to receivefuture press releases, please visit the company’s website atwww.mammothresources.ca.
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 referto forward-looking information. All information other than statementsof historical fact that address activities, events or developmentsthat the Company believes, expects or anticipates will or may occurin the future are forward-looking statements; examples include thelisting of its shares on a stock exchange and establishing mineralresources. These forward-looking statements are subject to a varietyof risks and uncertainties beyond the Company’s ability to control orpredict that may cause actual events or results to differ materiallyfrom those discussed in such forward-looking statements. Anyforward-looking statement speaks only as of the date on which it ismade and, except as may be required by applicable securities laws,the Company disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although the Company believesthat the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and, accordingly, undue reliance should not be placed onthese forward-looking statements due to the inherent uncertaintytherein.
To view ” Figure 1. Geophysics Survey Location Map”, please visit thefollowing link: http://media3.marketwire.com/docs/Mammoth_Figure1.jpg
Contacts:
Mammoth Resources Corp.
Thomas Atkins
President & CEO
[email protected]
SOURCE: Mammoth Resources Corp.
