BMM:
TSX-V
VANCOUVER, Oct. 24, 2017 /CNW/ - Black Mammoth
Metals Corporation (TSX-V: BMM / Frankfurt: LQK / OTCBB: LQRCF) ("Black
Mammoth" or the "Company") is pleased to announce results
from its recent rock geochemical sampling program at the Company's
Blanco Creek gold property in central Idaho. Seventeen rock
samples were collected and delivered to ALS Global for analysis, in
an effort to confirm and expand on the property's historical rock
sample results. The samples were collected primarily from
quartz veins located along the Blanco Creek Shear Zone focusing on
three main target areas located near the historic Alberta Mine,
Hercules Mine and the Pasadena Mine.
The recent samples confirm historical gold and silver values
found in 1980's and 1990's vintage data acquired with the
property. The samples lay the groundwork to establish a level
of continuity of precious metal mineralization along the 3550 metre
(11,644 foot) strike length of the Alberta -Hercules-Pasadena vein system. The sample results
also indicate that gold mineralized veins parallel to the main
veins are present on the property.
Gold values ranged to a high of 27.1 grams per tonne (g/t),
while silver values ranged to a high of 290 g/t. Four of the
seventeen samples assayed higher than 5 g/t gold. Gold and
silver values on the property tend to cluster around the old mine
areas, which is partly due to the availability of exposed rock to
sample. Lead is consistently elevated in the mineralized
portions of the veins. Antimony, copper and molybdenum show
erratic weakly anomalous values in the gold/silver mineralized
areas while arsenic and mercury values are low. The following
table highlights the significant gold and silver values from this
recent sampling program:
Sample
|
Gold
≥
|
Silver
≥
|
Description
|
|
0.5
g/t
|
5
g/t
|
|
|
|
|
|
FD01
|
0.919
|
14.7
|
Outcrop chip of milky
quartz vein with pyrite.
|
FD02
|
11.25
|
79.3
|
Outcrop chip of milky
quartz vein with pyrite.
|
FD03
|
0.611
|
|
Outcrop chip of milky
quartz vein with iron oxide in schist.
|
FD04
|
0.697
|
15.6
|
Outcrop chip of milky
quartz vein in the lower Hercules area.
|
FD05
|
1.37
|
|
Outcrop chip of milky
quartz vein.
|
FD07
|
5.75
|
48.5
|
Dump sample of milky
quartz vein.
|
FD09
|
27.1
|
290
|
Trench sample of
milky quartz vein with iron oxide.
|
FD11
|
6.12
|
12.9
|
Outcrop chip of milky
quartz vein.
|
FD16
|
1.075
|
|
Outcrop chip of milky
quartz vein.
|
FD17
|
0.542
|
|
Outcrop chip of milky
quartz vein.
|
Rock sample location maps, sample descriptions and assay
certificates are located on the Company's website along with maps
showing the claim position, veins, workings, roads and proposed
drill holes.
Plan of Operations:
Black Mammoth completed a thorough review of the extensive data
obtained with the property. Field examination of the
mineralized areas was completed concurrently with this review in
order to evaluate potential drill targets. Based on these
reviews, ten drill pad locations were selected to facilitate
drilling multiple holes from each pad location and in early August
a Plan of Operations was filed with the U.S. Forestry Service
office in Grangeville, Idaho
("USFS"). The Company's personnel have met with the USFS
field specialists on the property and the proposed Plan of
Operations is currently under review.
Sampling:
The samples from this program were collected and delivered to
ALS Global in Elko, NV by
Mark J. Abrams, CPG. The
samples were analyzed using Au-ICP21 for gold (30g FA – Gravimetric
Finish) and ME-ICP 41 (35 Multi-element Aqua Regia digestion).
Mark J. Abrams, CPG,
Non-Independent Qualified Person as defined by NI 43-101 and
Director of Black Mammoth prepared and approved the technical
information contained in this news release.
About Black Mammoth Metals Corporation:
Black Mammoth has assumed a long-term lease with option to
purchase for a 100% interest, subject to underlying royalties, in
the Blanco Creek gold property in central Idaho. The Property
has road access and consists of 40 Unpatented Federal Lode Claims
hosting 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 done 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
Black Mammoth Metals Corporation
"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.
All geological information provided on the Blanco Creek
Property has been gathered during the Company's due diligence
process and has not been independently verified by
management.
SOURCE Black Mammoth Metals Corp