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Mammoth samples up to 23.6 grams per tonne gold at its Tenoriba property, Mexico

Tuesday, Jan 22, 2013

Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to report that it has received assay results from samples taken from its first two exploration campaigns by its geological team exploring 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, for a detailed location map). The best result from this campaign 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). This single highest gold assay was followed by 26 other samples that exceeded more than 2.0 gpt gold equivalent, 45 results that exceeded 1.0 gpt gold and 85 samples that were anomalous exceeding 0.3 gpt gold equivalent, of a total of 219 samples collected. Furthermore, many of these samples came from areas where mapping and sampling of similarly altered felsic volcanics and breccia with numerous locations of vuggy silica occurred as much as one kilometre to the northeast and to the southwest of the area of focused exploration and drilling by the previous optionor, Masuparia Gold Corporation (Masuparia), where Masuparia assayed up to 45 grams per tonne gold (please refer to press release dated July 3, 2012 for summary results of the Masuparia work).

Mammoth President and CEO, Thomas Atkins, commented on these assay results, stating: "I was impressed with the rocks I saw in the field when I visited the project only a month ago, in December. That we received so many samples with anomalous values of gold, and some with very impressive values, is very exciting. Many of these results are coming from areas that extend beyond the attractive results achieved by Masuparia in their 2007 - 2008 program where attractively altered and silicified volcanic rocks returned up to 45 grams per tonne gold. We also expect to receive results shortly from our clay mineral analysis work wherein 44 samples have been sent for XRF analysis to determine the nature and relationship of clay minerals to hydrothermal processes in these rocks. The team are just now returning to the project to continue their field exploration work and will continue to extend their mapping and sampling as they step-out further along the trend sampled and reported in this release and attempt to identify geological controls for this mineralization. I look forward to reporting on this work in the coming weeks."

The 219 surface rock samples and 7 stream sediments samples taken to date have been collected over selected accessible portions of an approximate 12 square kilometre area (an approximate 3 kilometre by 4 kilometre area). In addition, 44 surface and core samples have been selected for Xray Fluorescence analysis to identify the type of clays present in the altered Tertiary felsic volcanic. Identification of these clay alteration types will help to identify the type of mineralization system (high, or possibly low-sulphidation, or porpyritic epithermal-type) present at Tenoriba.

Source: Marketwire

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