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- Successful rock chip and mapping confirms district-scale potential at Excelsior
- Regional exploration program to define multiple high- priority targets
- Rock chips of up to 1,219 g/t silver obtained from previously untested trend near historical Blue Dick mine.
Mammoth Minerals (ASX: M79) has obtained positive results from extensive rock chip sampling conducted across the entire Excelsior project area in Nevada.
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The work has identified six priority target areas which are currently undergoing a more detailed phase of mapping and sampling in order to advance them to drill-ready status.
MD, Glenn Poole, said the extensive rock chip sampling and mapping program across the combined Excelsior project late last year was designed to evaluate previous mining activities across the tenure.
“Extensive historical shafts, underground development and prospecting pits are evident throughout the project, with a myriad of mineralisation styles,” Mr Poole said.
“The program has already confirmed six priority target areas with highly compelling surface sampling results, with the potential for further prospects to be defined given that significant areas of the claim block are yet to be assessed. Of particular note is the presence of critical minerals including antimony, silver and copper alongside the significant gold results.
“The scale of the individual targets and their high-grade nature warrant immediate follow-up to advance them to drill-ready status. The USA is currently prioritising the exploration and development of potential new domestic supply sources of many of these critical minerals – particularly antimony due to its direct defence-based applications.”
Mammoth’s field crew bus currently on site and has prioritised reconnaissance and drill permitting across Blue Dick, Stantz and Kentucky due to the consistency of high-grade mineralisation and considerable strike lengths.
“We are currently undertaking follow-up mapping and further extensive sampling programs with the aim of being able to drill these targets in coming months, concurrently with extensional drill testing of Buster and initial drilling of the recently acquired Imperial target area.
Rock chip results of up to 45.5 grams per tonne gold (g/t), 126 g/t silver, 1.3% copper were collected from the Reliance targets area associated with a cluster of historical workings.
M79 is up 4.26% to 4.9¢. Mkt cap $26.26M.
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