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 in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. 

Mammoth Resources are preparing to initiate a drill programme at the Tenoriba property. In the Sierra Madre region of Mexico the property is surrounded by multi million ounce deposits owned by multi million dollar companies and Mammoth Resources believes that their project could be another one of these lucrative deposits.

Mammoth Resources acquired the asset in 2012 from another Canadian junior company which had produced some good data from their first few drill holes at the property. Mammoth didn’t do any further work in the first couple of years but has now completed extensive sampling over a 7km trend with 1000 samples, soil geo-chemistry and some drilling.

The previous partner, Centerra Gold has pulled out of Mexico completely as of September 2020, having spent $1.2m on this project. Mammoth Resources has raised and spent $4m and the predecessors spent about $1.5m on the project. Mammoth Resources has a market cap of $6.5m and have spent the last 5-6 years working on this project.

After Centerra left in September, Mammoth has advanced the work on the permit process. They have the drill permit in place, and have surface agreements with two local communities to enable them to drill. They have extended the geo-chemistry for another kilometre and have advanced the infill geo-physics survey leading to the drill targets and have a 50 hole drill programme forthcoming.

They now need to raise some capital to fund the drill programme and are interested in potential mergers with other junior companies or involvement with a major company like Centerra Gold. 

Company Page: http://www.mammothresources.ca/s/Home.asp

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