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“Based on these results Mammoth has already graduated to testing a coarser fraction of this same material for added confidence in the recovery of gold and silver in these zones and is also investigating recoveries in the sulfide zone which lies at depth, below the oxidized and mixed zones.
“As part of Mammoth’s efforts to better understand the target mineral resource at Tenoriba and its recovery potential, during the past months since the conclusion of the 2022 drilling and receipt of all assay results, Mammoth’s technical team has been investigating a combination of metal recoveries and resource target potential and expects to have furtherannouncements on this work over the coming weeks.
“Mammoth believes it is important to establish the scope of economic potential at Tenoriba in order to validate and justify strong leverage to exploration success for its shareholders. Preliminary results and estimates from this work, are suggesting that once this work is completed, the results will demonstrate future drilling with excellent leverage to cost effectively identify a sizable, potentially economical precious metal resource.”
Cyanide Bottle Roll Test Results, Conclusions and Recommendations for Future Work:
The selection of samples for cyanide bottle roll tests were prioritized based upon the extent to which they would: (1) provide a good distribution over the extent of the Carneritos area as it had been defined by geological mapping, sampling, geophysics and drilling, (2) comprise, what was observed through drill core logging, to be both oxidized (samples B and C) and mixed oxidized-sulfide/transition zone mineralized intervals (sample A), and (3) the composite of such samples would comprise an average grade, as best could be achieved by sample collection means, to approximate the current weighted average grade of all mineralized drill hole intervals from all 57 historical drill holes at Tenoriba, which approximates 0.65 g/t gold equivalent (gold with silver wherein silver is converted to a gold equivalent at a gold : silver ratio of 1 : 75) utilizing a 0.18 g/t gold cut-off grade for assembling potentially economical intervals of open pit mineable and heap leach recoverable precious metals at Carneritos
Of the 559 coarse rejects which existed from the 2021-22 drill core sampling within the Carneritos area, 125 samples were selected to form six composite samples. Three of these samples were sent to SGS laboratory in
Results of the cyanide bottle roll tests are illustrated in Table 1 - Dissolution Kinetics and Results. Gold dissolution (amount of gold dissolved/potentially recoverable relative to the assayed grade) from the oxidized material at Carneritos (Samples B and C) is very rapid at 92% and 88% dissolution in the first 12 hours, respectively while after 96 hours reached 94% and 91%, respectively. The silver dissolution is also very rapid and reaches approximately 55% for both samples in the first 12 hours and 59% for both samples after 96 hours.
Results of the cyanide bottle roll tests for mixed oxidized-sulfide/transition material (Sample A) is also very rapid with 72% of the total gold dissolved in the first 12 hours while 75% gold dissolution occurs in 96 hours. The total silver dissolution for sample A is also very rapid at 61% dissolved in the first 12 hours and reached 64% dissolution after 96 hours.
Table 1 - Dissolution Kinetics and Results:
(hours under agitation and resultant percent dissolved (recoverable) gold (Au) and silver (Ag)
Time(hours) | Sample A Au % Ag % | Sample B Au % Ag% | Sample C Au % Ag% | |||
0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
2 | 70.3 | 54.7 | 86.0 | 49.7 | 86.1 | 48.0 |
6 | 72.0 | 60.2 | 91.9 | 53.4 | 89.5 | 53.8 |
12 | 72.3 | 60.7 | 92.3 | 54.7 | 87.7 | 54.6 |
24 | 73.3 | 63.2 | 92.0 | 56.9 | 88.8 | 56.8 |
48 | 74.3 | 63.1 | 93.1 | 57.0 | 90.3 | 58.3 |
72 | 73.8 | 64.1 | 94.7 | 58.3 | 89.4 | 58.4 |
96 | 74.7 | 64.1 | 94.0 | 58.8 | 91.1 | 58.9 |
Based on results from this work, and to further enhance confidence in the gold and silver dissolution and potential recovery of oxidized and mixed oxidized-sulfide material at Carneritos, additional metallurgical test work is recommended and should include: (1) additional bottle roll tests utilizing coarser granulometry material, and (2) sulfide bearing gold and silver core intervals should also be tested. Following successful dissolution of gold and silver in coarser granulometry material (moving towards 3/8-inch diameter material), further testing of similar granulometry material should be studied by cyanide column leach tests. Following initial testing, sulfide bearing gold and silver core intervals should also be tested by various granulometry bottle roll tests and if warranted followed by column testing. These tests would further validate and determine the metallurgical recoveries of gold by heap leaching.
Based on the success from these initial bottle roll tests, Mammoth has commenced testing a coarser fraction of the oxidized and mixed oxidized-sulfide zone material and preliminary tests of a sulfide sample and looks forward to reporting on these results in the near future.
Mammoth intends to post to its website (“Projects”, “Technical Reports” section) in the coming days a technical report detailing this metallurgical study.
Quality Assurance and Quality Control (QA/QC):
Samples were selected from sample rejects of drill core recovered by
The selection of the samples to be analyzed were prioritized based upon the extent to which they would: (1) provide a good distribution over the extent of the Carneritos area as it had been defined by geological mapping, sampling, geophysics and drilling; (2) comprise, what was observed through drill core logging, to be both oxidized (samples B and C) and mixed oxidized-sulfide/transition zone mineralized intervals (sample A); and (3) the composite of such samples would comprise an average grade, as best could be achieved by sample collection means, to approximate the current weighted average grade of all mineralized drill hole intervals from all 57 historical drill holes at Tenoriba, which approximates 0.65 g/t gold equivalent (gold with silver wherein silver is converted to a gold equivalent at a gold : silver ratio of 1 : 75) utilizing a 0.18 g/t gold cut-off grade for assembling potentially economical intervals of open pit mineable and heap leach recoverable precious metals at Carneritos.
Coarse reject samples from the 2021-2022 drill program, which assayed greater than 0.1 g/t gold, are stored in 54 nylon rice bags sealed with plastic tie wraps and kept under lock and key in a storage room located at the ranch of
Of the 559 coarse rejects which existed from the 2021-22 drill core sampling within the Carneritos area, 125 samples were selected to form six composite samples of which three of these samples were sent to SGS laboratory in Durango for a 96-hour cyanide bottle roll test. The other 3 samples were sent to Dr.
Sample selection and preparation for cyanide bottle roll testing was performed by Mammoths personnel under the supervision of
Qualified Person / Quality Controls:
Dr.
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Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.
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