Mammoth Resources (TSXV:MTH) has launched its campaign on the Investing News Network’s Resource channel.
Mammoth Resources is a precious metals exploration company developing the Tenoriba gold-silver exploration project in Mexico’s prolific Sierra Madre belt. The Sierra Madre region has historically produced 80 million ounces of gold equivalent and is home to 40 million ounces of recent gold equivalent discoveries led by such well known companies as Pan American Silver Corp. (TSX:PAAS), Agnico Eagle Mines Ltd. (TSX:AEM) and Goldcorp Inc. (TSX:G) (currently being acquired by Newmont Mining (NYSE:NEM), among others.
The company has partnered with Centerra Gold Inc. (TSX:CG), which has the option to earn a 70 percent interest in the Tenoriba property provided they spend US$9 million (C$12.5 million) in exploration expenditures over a maximum seven year period. Mammoth and Centerra are in the process of developing this season’s exploration program, which could include ground IP and magnetic surveys, additional infill mapping and sampling a review of all historical data with the objective of defining drill targets to be drilled in 2019. The objective of this work is to define additional targets for a 2019 drill program planned to commence in the first half of the year. In the long-term, the two companies will be working towards completing a NI 43-101-compliant gold-silver mineral resource estimate and a preliminary economic assessment (PEA) for the property.
Mammoth Resources’ company highlights include the following:
- Flagship project located in the Sierra Madre gold belt, which has historically produced 80 million ounces of gold equivalent.
- 40 million ounces of gold equivalent resources have recently been discovered in the Sierra Madre gold belt by the likes of Pan American Silver, Agnico Eagle and Goldcorp, among others.
- Partnership in place with Centerra for the exploration and development of Tenoriba.
- Large 15 square kilometre footprint of ubiquitous gold-silver mineralization.
- Highest gold and silver values sampled on the property graded 74 g/t gold and 62 g/t silver.
- Mineralization appears amenable to low-cost open-pit mining and heap leach gold recovery.
- Working towards completing a mineral resource estimate and PEA.
- Experienced management team with close to 100 years of combined industry experience.