The independent assessment was performed by Drs.
Among various observations from this report, it was stated that:
Epithermal deposits in the northern Sierra Madre Occidental ('SMO') are subdivided into two main types: low- to intermediate-sulfidation vein-dominated deposits, and less abundant high-sulfidation, replacement-type deposits. The discovery of significant high-sulfidation epithermal deposits (e.g.,
Features of altered and mineralized rocks at Tenoriba are consistent with a high-sulfidation epithermal style.
Mineralization at Tenoriba occurs in a south-tilted sequence of intermediate lavas, flow breccias, poorly welded ash-flow tuffs, and lesser volcaniclastic sedimentary rocks that are correlated with the regional Lower Volcanic Series of Eocene age and that gold mineralization at Tenoriba occurs near the angular unconformity between Lower and Upper Series volcanic units.
Numerous epithermal deposits in the Sierra Madre Occidental occur in proximity to the regional unconformities developed between Lower and Upper Series volcanic rocks, including the Mulatos and
Tenoriba is a high-quality early to mid-stage exploration project with potential to host an economic high-sulfidation epithermal deposit. Drill-ready targets are present at Masuparia, Carneritos, and
The authors recommend a thorough and consistent exploration program over at least two years to evaluate the main prospect areas and also addresses areas that have to date seen little or no work, particularly to the east and west of the explored areas.
'I'm pleased that Drs. Ressel and Christensen interpret Tenoriba to be a high sulphidation project, similar to Mammoth's own interpretation, based on compelling shared features between Tenoriba and other economical high sulphidation projects in the Sierra Madre. We're encouraged by this interpretation, some of the findings and recommendations and look forward to Mammoth's geological team advancing exploration at Tenoriba in close collaboration with Drs. Ressel and Christensen.'
Drs. Ressel and Christensen made an intriguing observation regarding the inversion of a stratigraphic horizon of rocks favourable to host gold-silver mineralization at Tenoriba from prior mapping. Should this inverted stratigraphy prove correct this could have significant positive implications as far as the abundance and location of this favourable stratigraphy as a host of gold-silver mineralization at Tenoriba.
Mammoth has already begun various activities to advance recommendations from this report, including: Mapping and sample the north-facing exposures on the property to clarify this inverted stratigraphy.
Reassessing the historical induced polarization ('IP') survey data at Carneritos with highly experienced geophysical consultants and perform in-fill IP and ground magnetics geophysics in collaboration with these geophysical consultants to cover the 60% of the 6 kilometre mineralize trend not covered by the initial survey.
Follow-up highly anomalous soils at lower elevations in tuffs and andesitic rocks which may reflect 'leakage' into overlying units together with reconnaissance north-south soil lines from
Follow up on locally sourced coarse gold in the regolith at El Moreno.
The above activities together with the drafting of sections, contour maps and a 3-dimensional model of this geologic, geochemical, and geophysical data are all recommended to be utilized to assess and rank target areas for the Company's upcoming drill program. Drilling is expected to commence around the end of the first quarter of this year, however it should be noted that the timing of the commencement of this program may be somewhat influenced by recent COVID-19 related restrictions that are posing some challenges to the execution of the Company's current exploration activities.
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