Black Mammoth Metals UAV Magnetic Survey Indicates Targets at Happy Cat Gold Property
BMM: TSX-V
VANCOUVER, BC, July 26, 2021 /CNW/ - Black Mammoth Metals Corporation (TSXV: BMM) (OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased to announce the results of the unmanned aerial vehicle magnetic survey (the "Mag Survey") and the interpretation of its data collected at the Company's 100% owned Happy Cat gold property (the "Property"). The Mag Survey suggests that the volume and extent of the volcanic unconformity, based on the faulting indicated by the magnetic survey (the "Faulting"), is extensive on the Property and indicates a deep pluton with associated shallow intrusive structures such as dykes and plugs with various widths and strike lengths. 2D structural models have been interpreted, estimating the depth, and illustrating the configuration of the structures associated with the volcanic unconformity. These intrusive structures are correlated with current gold volume at surface identified by recent and historic sampling, trenching, auger sampling and RC drilling and they represent potential drill targets. The Mag Survey covered the Property's claims position and led to the Company recently expanding the claims position to the North.
The Company contracted MWH Geo-Surveys ("MWH") of Reno, Nevada to conduct the Mag Survey with the intent of further defining drill targets by delineating the Faulting on the Property and to identify zones of favorable lithology, and alteration features permissive to hosting gold mineralization that may extend under shallow cover from known areas of near surface mineralization. Subsequently, Integrated Geophysics Corporation ("IGC") of Houston, Texas was contracted to process and interpret approximately 58.3 line-kilometers of data that was flown at 50m line spacing bearing either east or west at an elevation of approximately 31m above ground level. The IGC summary report, which includes a plan view map and corresponding 2D structural models of the indicated dykes and plugs, is available in the Projects section on the Company's website.
To aid the quality of data and the interpretation of the Mag Survey, MWH conducted Orthophoto/Digital Surface Modelling and The Saskatchewan Research Council Mineral Processing of Saskatoon, Saskatchewan conducted a magnetic susceptibility test on the gold mineralized material containing magnetite taken from the Property's near surface gold anomaly that was recently tested for gold recovery by Met-Solve Laboratories. See the Company's news release dated July 15th, 2021.
Mark J. Abrams, CPG #11451, Non-Independent Qualified Person as defined by NI 43-101 and Director of Black Mammoth has approved the technical information contained in this news release.
About Black Mammoth Metals Corporation:
Black Mammoth has 11,376,871 shares issued and outstanding and 11,376,871 shares fully diluted. There are currently no options or warrants outstanding.
Along with the Company's 100% owned Happy Cat Gold Property, subject to underlying royalties, Black Mammoth has a 100% interest, subject to underlying royalties, in the Blanco Creek gold property in central Idaho which hosts three historic underground mines along 3550 meters (11,644 feet) of strike on the north-east trending regional Blanco Shear Zone. Exploration by two previous operators identified a geological target for the Blanco Creek property in the order of 1.7 to 2.48 million tons, grading 0.20 to 0.33 oz/ton Au (1.54 to 2.24 million tonnes, grading 6.85 to 11.31 g/tonne Au); see the Company's press release dated February 14th, 2017.
Black Mammoth cautions investors to note the potential quantity and grade of the geological target are conceptual in nature. A qualified person has not completed sufficient work to classify the geological target as mineral resources as defined by NI 43-101, and it is uncertain if future exploration will result in the target being delineated as mineral resources.
On behalf of the board,
"Dustin Henderson"
Dustin Henderson, BBA
President, CEO and Corporate Secretary
"Neither 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." This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, the visual continuity of certain mineralized intervals and business and financing plans and trends, the potentially open nature of the mineralized zones on the property and the potential for future discoveries of additional mineralization on the property are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; timing of receipt of assay results from third party analytical facilities; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
SOURCE Black Mammoth Metals Corp
Black Mammoth Metals Corporation, Phone: 604 347 9101, Email: [email protected], Website: www.blackmammothmetals.com
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