Toronto, Canada – TheNewswire - January 27, 2021 - Mammoth Resources Corp. (TSXV:MTH) (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to announce that following the strong investor enthusiasm for its recent private placement and the $88,500 increase in the gross proceeds from this financing to $688,500, the Company has mobilized crews to the Tenoriba project site and has begun its 2021 exploration program. Company Vice President Exploration, Richard Simpson is at the project site and coordinating activities with local crews initially establishing exploration logistics and installing the grid for the infill geophysics survey scheduled to commence in early-mid February.
Thomas Atkins, President and CEO of Mammoth commented on the commencement of the 2021 field program, stating: “Following the terrific reception by investors for the recent private placement, Mammoth wasted no time in getting activities rolling at the project site despite some of the challenges to operating an international exploration program under increasing restrictions related to the COVID-19 pandemic. Our personnel are following guidelines suggested by leading medical experts while we advance activities at Tenoriba to position the project for the infill IP/Mag geophysics survey scheduled to commence mid-February. Once completed, the new geophysical data will be incorporated into the 3D modelling of all historic and new geophysical data, plus all surface and drill data, to assist in selecting drill targets for the Mammoth’s upcoming 2021 drill program. We look forward to reporting on results from the various project activities over the coming weeks.”
Once Mammoth has completed the geophysical grid, a consulting geophysical company is scheduled to commence the infill IP/Mag survey assuming no issues resulting in any delays, in mid-February. This consultancy will be working closely with the consultants the Company has engaged to perform the 3D modelling of the historic geophysical, surface and drill data. Additionally, Mammoth will be doing some follow up and infill mapping and sampling to supplement this geophysical survey. All additional data will be incorporated with all historic surface and drill data to assist in 3D modelling of surface and subsurface features to target drill hole locations for the Company’s planned 2021 diamond drill program, currently scheduled to commence towards the end of the current quarter.
About Mammoth Resources:
Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.
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., or contact Thomas Atkins, President and CEO at: 416 509-4326.
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 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.
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