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Mammoth Minerals (ASX:M79) has grown the Buster gold trend at the Excelsior Springs project in Nevada, the company told its shareholders in a release on Wednesday, with new high-grade assay results delivering the hike.
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Initial assays from reverse circulation drilling have built on the results from the company’s maiden diamond drilling program completed in December CY25.
The current RC drilling campaign is designed to validate, in-fill and extend the more than 16 kilometres of drilling completed historically across the project, with significant historical results including 51.8 metres at four grams per tonne (g/t) gold from 39.6 metres, including 6.1 metres at 16.30 g/t from 42.7 metres and 33.5 metres at 5.35 g/t from 41.2 metres, including 10.7 metres at 15.99 g/t from 41.2 metres.
MD, Glenn Poole, said drilling is continuing along strike and down-dip to increase confidence and continuity while targeting further extensions of the known footprint of mineralisation at Buster.
“The latest drilling results from Excelsior have validated our deposit model and are consistent with what we are expecting to see across the mineralised zones, with some areas intersecting the interpreted high-grade ‘feeder’ zone.
“The thick, shallow intercepts we are seeing from surface support the working geological model and, with most of the drilling completed to date only targeting the top 150m, Buster remains very much open both down-dip and along strike,” Mr Poole said.
He told shareholders the step-out drilling to the west has highlighted an expanding zone of mineralisation well beyond the previously completed drilling. “It is not only providing confidence in the continuity of the mineralisation but also providing a new target we can immediately follow up,” he explained.
Additionally, Mammoth’s deeper drill intercepts have confirmed the continuity of the orebody down-dip is still open below 180 metres, with one of the deepest intercepts recorded to date across the prospect. “The accelerated assay turnaround timeframes have allowed us to remain dynamic with our drill planning, with follow-ups already planned to follow up on these opportunities,” said Mr Poole today.
The current Excelsior Springs drilling was designed to validate, extend, and provide resolution on historical drilling results, infill areas of lower density drilling, and extend the known areas of mineralisation which remain open along strike and down-dip.
RC drilling has been able to effectively target and intersect these highly altered zones along with the higher-grade “feeder” structures.
In the meantime, Mammoth is defining targets at the newly-acquired Imperial project with detailed mapping and further surface sampling to delineate the potential of the mineralised trends extending beyond the acquisition ground onto the newly staked claims.
“As two of the three Imperial targets are already drill advanced, drilling to further expand on these de- risked areas will be a priority following the Buster RC campaign,” Mr Poole said.
“The Blue Dick prospect is also advancing with surface sampling and mapping campaigns underway to delineate the extents of the parallel trends and linking structures of the gold and silver-rich polymetallic system to a drill-ready status later this year.”
M79 is down -1.45%, to 6.8cps today.
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