Mammoth Minerals (ASX:M79) has validated the Excelsior deposit model in Nevada, providing consistency across what mineralised zones are expected to provide, Managing Director Glenn Poole says.
“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,” Poole says.
Reverse circulation drilling is ongoing at the Excelsior Gold-Silver Project in Nevada, following up on last year’s maiden drilling campaign along the 7km Buster Gold Trend.
Assays returned from the current drilling program include 13.72m @ 1.15 grams per tonne gold from 62.5m at MEXRC2601, 7.62m @ 2.1g/t gold from 219.51m at MEXRC2605.
Hole MEXRC2601 has identified a new area of mineralisation, located to the west of previous exploration by 100m.
“The step-out drilling to the west has highlighted an expanding zone of mineralisation well beyond the previously completed drilling – not only providing confidence in the continuity of the mineralisation but also providing a new target we can immediately follow up,” Poole adds.
Meanwhile, hole MEXRC2605 extends mineralisation more than 100m down dip, remaining open below the 180m mark.
Other intercepts returned thus far include 33.54m @ 1.25g/t gold from surface, including 9.15m @ 3.18g/t gold from 18.29m; 16.77m @ 1.84g/t from 44.21m, including 3.05m @ 7.70g/t gold from 51.83m; and 12.20m @ 2.56g/t gold from surface.
“The accelerated assay turnaround timeframes have allowed us to remain dynamic with our drill planning, with follow-up drilling already planned to follow up on these opportunities,” Poole explains.
“Beyond the reverse circulation drilling at Buster, we are continuing to advance the 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 derisked areas will be a priority following the Buster reverse circulation campaign.
“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.”
As reported in this news service’s weekly M&A Monday series, Mammoth entered an exclusive option to acquire the Imperial Gold mine in Nevada through an earn-in agreement last week.
Mammoth Minerals is a gold and copper explorer focused on developing assets in North and South America.
Write to Maddison Elliott at Mining.com.au
Images: Mammoth Minerals
