Mammoth Minerals (ASX:M79) has intersected multiple broad, shallow gold zones at the Lunchbox Ridge prospect within its Excelsior Springs Gold Project in Nevada, US.
Key reverse circulation (RC) drilling results include 22.9m @ 1.37 grams per tonne gold (Au) from 10.7m, including 3.0m @ 4.15g/t Au from 22.9m; 12.2m @ 1.57g/t Au from 32m, including 4.6m @ 3.31g/t Au from 38.1m; and 10.7m @ 1.09g/t Au from 164.6m.
The results extend mineralisation 700m along strike from the historic Buster mine zone, with mineralisation remaining open along strike and down dip.
Managing Director Glenn Poole says the results highlight “significant growth potential” across Excelsior.
“Importantly, the results support our geological model of significant feeder structures introducing gold into favourable host horizons and clearly show that the mineralised system extends well beyond the area that has historically seen the majority of drilling at the Buster gold mine,” Poole says.
Mammoth says drilling has moved to its Blue Dick silver prospect, testing four trends identified in recent field mapping programs.
The company has already completed five RC holes for 1,100m targeting silver-dominant polymetallic mineralisation, with assay results expected within three weeks.
Recent channel sampling at Blue Dick returned up to 0.20m @ 17,582g/t silver (Ag), 0.75g/t Au, 2.76% copper (Cu), and 1.72% antimony (Sb). Meanwhile, rock chip sampling yielded up to 15,336g/t Ag, 7.46g/t Au, 2.53% Cu, and 0.31% Sb.
The 135km² Excelsior Project is located in Nevada’s Walker Lane trend under option agreements with Athena Gold (CSE:ATHA), where Mammoth can earn up to 80% through US$5 million ($7.08 million) in expenditure over five years.
Mammoth intends to continue RC drilling at Excelsior, with 24 additional holes planned across multiple trends over a cumulative strike extent exceeding 6.5km.
The company is also reviewing the potential scope to increase gold mineralisation across the expanded strike length.
“With the intercepts remaining open down dip and along strike, we have a compelling opportunity to systematically expand the broader scale of the Buster gold system,” Poole says.
Mammoth Minerals is a resource developer and explorer with gold and copper assets across North and South America.
Write to Paula Fabe at Mining.com.au
Images: Mammoth Minerals
