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Mammoth samples up to 9.7 grams per tonne gold equivalent at its Tenoriba property, Mexico

Tuesday, Mar 05, 2013

Mammoth Resources Corp. (TSX VENTURE:MTH) is pleased to report that it has received additional assay results from samples taken from 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 most recent campaign, the third campaign mapping and sampling surface outcrops and structures on the property, assayed 9.4 grams per tonne (gpt) gold and 15.7 gpt silver, or 9.7 gpt gold equivalent (using a ratio of 50 gpt silver is equivalent to 1.0 gpt gold based on current gold and silver prices) from a grab sample located within the Moreno prospect on the property. This single highest gold assay was followed by 31 other samples that exceeded more than 3.0 gpt gold equivalent (refer to Table 1. Surface Outcrop Samples for complete assay results assaying greater than 0.3 gpt gold equivalent).

Mammoth President and CEO Thomas Atkins commented on these results, stating: "We continue to encounter anomalous gold and silver results over various target areas, including Los Carneritos, el Moreno and the area previously drilled by the former optioning party Masuparia Gold wherein they intersected 42.9 grams per tonne gold over a 1.9 metre intersection of a 15 hole diamond drill program completed in 2008. These areas plus several others, cover an overall area of at least 15 square kilometres. Clay X-Ray Diffraction analysis together with mineral assemblage and the type of rocks observed appear at this time to indicate a high-sulphidation target at Tenoriba. The gold and silver values reported in this press release continue to expand these areas of mineralization, numerous of which remain open. We continue to map and sample extensions to these areas and additional areas on the property, such mapping and sampling of which to date has covered only 20 percent of the total 8,100 hectares of the property."

As previously reported (press release dated January 18, 2013), at Los Carneritos, El Moreno and within the area drilled by the previous optioning party (Masuparia Gold - 2008 drill program) (refer to Figure 1. Sample Location Map, Tenoriba Property, Chihuahua, Mexico) discreet structural and possibly lithological mineralization controls have been identified along steeply dipping, near vertical northeast, northwest and near north-south trending structures and near flat lying volcanic breccias. The discreet structural controls generally exhibit moderate to strong silica alteration with or without sulphide (most commonly pyrite) and with frequent patchy vuggy silica texture.

Source: Marketwire

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