TORONTO, ONTARIO -- (Marketwire) -- 01/09/13 -- Mammoth Resources Corp. (TSX VENTURE: MTH) is pleased to report that following two tours 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 website www.mammothresources.ca, for a detailed location map), it has extended mapping and sampling of similarly altered felsic volcanics and breccia with numerous locations of vuggy silica to the northeast and south west of the area previously drilled by Masuparia Gold Corporation (Masuparia). The occurrence of these rock types, extending at least one kilometre to the northeast and one kilometre northwest are similar to those drilled by Masuparia in which it intersected up to 45 grams per gold per tonne (please refer to press release dated July 3, 2012 for the results of this work).
Initial activities included re-establishing the Masuparia exploration camp abandoned in 2008, re-logging the 15 drill holes drilled by Masuparia, entering historic drill and mapping and geochemical data into a geological data base, mapping and sampling historic occurrences and exploring other areas, outside of those areas which had undergone extensive exploration by Masuparia, in search for other signs of surface mineralization. To date 219 surface rock samples and 7 stream sediments samples have been collected. In addition 44 surface and core samples have been selected for X-ray 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 deposits) present at Tenoriba, and help to orient future field work.
Mammoth President and CEO, Thomas Atkins, commented on the results of this field work having visited the project in late December, stating: "We walked over much of the ground explored previously by Masuparia and the extended areas to the northwest and northeast. I have to say I don't know if I've ever seen such a package of interesting altered volcanics rocks before as exist at Tenoriba. The abundance of altered and silicified volcanics and volcanic flow breccias with varying amounts of sulphides, plus the abundance and extent of historical workings is very exciting and to me indicative of a project area that represents the flanks of an active volcanic system. That historical work has shown a large footprint of anomalous gold associated with these rocks provides further encouragement of something of significance. I eagerly await the results of the samples sent for analysis both for their gold content and for the type of clay alteration present as a guide to the type of mineralizing system present at Tenoriba."
Overall, the field work to date has confirmed Masuparia's previous geological observations, including the presence of a large area extending over numerous squares kilometres of altered Tertiary felsic volcanics intruded by diorite, quartz monzonitic and quartz feldspar intrusives. Masuparia's reported stratigraphy is being revised based on work performed by Mammoth geologists, in particular their reported dacitic/chaotic breccia, which appear to be a series of unsorted volcanic breccias. This unit is much more common throughout the volcanic pile than previously reported. Mammoth`s initial mapping also identified additional granodioritic and quartz feldspar porphyritic intrusive bodies situated south west of Masuparia's previous mapped area. The alteration present in the felsic volcanic rocks varies from strong to moderate argillic with or without weak to intense silica associated and coincides overall with Masuparia's large in soil polymetalic anomaly where numerous rock chip samples had also returned anomalous gold results (gold greater than 0.1 grams per tonne).
Mammoth's work has also identified steeply to moderately dipping north, northeast and northwest striking structural trends which appear to control the higher gold values reported by Masuparia. Over the Metalito and El Moreno areas (areas of small artisanal exploration and mining) and in the Carneritos area (a geological map will be presented when assay results are available), rocks with the strongest silicification exhibit patchy vuggy silica texture which could be hydrothermal in origin. Numerous vuggy silica floats are also observed throughout the area. In addition our work has also identified the presence of minor white clay stringers of apparent hydrothermal origin. In Masuparia's diamond drill core and in two areas (El Moreno and Los Carneritos), situated 0.7 kilometres west and 1.2 kilometres northeast of Masuparia's drill area, respectfully. The presence of Alunite and/or Dickite clay stringers and hydrothermal vuggy silica could be indicative that an epithermal high sulphidation target at Tenoriba exists/is present.
All sample results are pending, however the company expects to have some results in the coming weeks.
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 property 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 the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Mammothfig1.pdf.
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.
Mammoth Resources Corp.
President & CEO
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