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11 square kilometres total claims position, 100% owned
UAV magnetic survey covering over 6 kms of high angle faults complete
Structural and stratigraphic setting similar to that of Carlin and Cortez deposits
VANCOUVER, BC, Jan. 24, 2022 /CNW/ - Black Mammoth Metals Corporation (TSXV: BMM) (OTC: LQRCF) ("Black Mammoth" or the "Company") is pleased to announce that the Company, through its 100% owned subsidiary Antelope Creek Gold Corporation, has staked an additional 104 lode mining claims totalling 870 hectares (2150 acres) at its 100% owned Happy Cat gold property (the "Property"). The Property now consists of 134 lode mining claims managed by the Bureau of Land Management (the "BLM") covering a surface area of more than 1113 hectares or over 11 square kilometres (2750 acres), with 116 lode claims being contiguous. Black Mammoth now owns one of the largest claims positions in the southern Ravenswood Mining District ("Ravenswood") located at the southern end of the Rabbit Creek Gold Trend, Lander County, Nevada.
The Company has completed a UAV magnetic survey (the "Mag Survey") of the newly staked ground which hosts three high angle faults, covering a combined distance of over 6 kms trending N, NW and NE, which are of the correct orientation and age to have helped form Carlin-type deposits. The main purpose of the Mag Survey is to identify potential intrusive host structures along these faults and to identify any major cross-trending faults. Interpreted results of the Mag Survey will be available for release shortly along with an updated Projects section on the Company's new website that is currently under construction.
At Ravenswood, including the Property, there is a structural and stratigraphic setting similar to areas containing the Carlin and Cortez deposits. Adjacent to the Property, near the historic Maloy Gold Mine area, Cretaceous granodiorite crops out and intrudes Paleozoic sedimentary strata, including the lower plate Roberts Mountain and upper plate Valmy formations with gold mineralization occurring in the Paleozoic strata and in the granodiorite. Carbonate rocks of the Roberts Mountains Formation are exposed below the Roberts Mountains Thrust. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
The Property claims were located in strict accordance with all state and federal rules and regulations and are in the filing process with the Lander County Recorder's office and the BLM's Nevada State office in Reno, NV.
Brian T. Brewer, CPG (#11508), M.Sc. and Independent Qualified Person as defined by NI 43-101, located the claims and 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, 11,376,871 shares fully diluted.
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, BBA
President & CEO
"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
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