Mmmrf - Mammoth Resources Corp (gold Jv With Large Cap)

Discussion in 'Penny Stocks' started by Jon Alba, Jul 27, 2020.

  1. Jon Alba

    Jon Alba Senior Investor

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    MTH.V Due Diligence Report
    Price:$0.045
    Common Shares: 40 million - including recent pp and shares for debt
    Insider Holdings: 15% - Recent pp & shares for debt takes it to 20%
    Institutional Holdings: 25% - As per the 2020 fact sheet
    Insiders and Institutions hold 18 of the 40 million shares or 45%
    Options: 2.9 million exercisable at 6 cents

    Website: http://www.mammothresources.ca/
    Recent Company Presentation(July 2020): http://www.mammothresources.ca/i/pdf/Mammoth-Corporate-Presentation.pdf
    Recent Fact Sheet(July 2020): http://www.mammothresources.ca/i/pdf/factsheet.pdf

    The company has a major project in Mexico with extensive work already done. Their JV partner is Centerra Gold(CG.T) who has already committed millions of dollars and will continue to do so as the results have been quite good. More information of drill results can be found on their July 2020 presentation

    some results from 2017 which were very positive:

    2017 -18 drilling intersected potentially economical grades of gold over 10’s
    of metres. Highlight gold intersections over a 4 km trend of drilling:
     2.3 g/t Au Eq over 43.0 m, including 5.3 g/t Au Eq over 3.7 m;
     1.3 g/t Au Eq over 23.5 m, including 5.0 g/t Au Eq over 5.5 m;
     1.2 g/t Au Eq over 25.0 m, including 1.6 g/t Au Eq over 9.0 m;
     0.6 g/t Au Eq over 45.5 m, including 0.9 g/t Au Eq over 14.7 m and;
     0.5 g/t Au Eq over 126.8 m.
     
  2. Jon Alba

    Jon Alba Senior Investor

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    Brand new company interview below, plus some older ones:


    August 2020 -


    MTH.V starts at the 19 minutes mark


    March 2019 -



    January 2019 -



    March 2018 -



    December 2017 -



    February 2013 - https://www.youtube.com/watch?v=oLmiMtGin6I
     
  3. Jon Alba

    Jon Alba Senior Investor

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    2020-09-22 08:06 MT - News Release


    Mr. Thomas Atkins reports

    MAMMOTH PROVIDES UPDATE ON EXPLORATION ACTIVITIES AT ITS TENORIBA GOLD PROPERTY, ANNOUNCES PARTNER CENTERRA GOLD CEASING EXPLORATION ACTIVITIES IN MEXICO

    Mammoth Resources Corp. has received notification from Minera Centerra SA de CV, the subsidiary company of Centerra Gold Inc., with which Mammoth signed an option agreement to explore Mammoth's 100-per-cent-owned Tenoriba gold-silver exploration project located in southwestern Chihuahua state, Mexico, that Centerra has made the decision to cease exploration activities in Mexico, including at Tenoriba. In a conference call wherein Mammoth was informed of Centerra's decision to cease exploration activities, Centerra expressed their enthusiasm for drilling the Tenoriba project. Furthermore, in the notice letter to Mammoth advising of this decision Centerra noted that the decision to cease exploration was "no reflection upon any of the exploration properties it was involved in, including the Tenoriba property". In mid-August Centerra filed an application for permission to drill up to 139 drill locations at Tenoriba and a response/approval of this permit application is expected within weeks. Under the terms of the Agreement between Mammoth and Centerra there will be a 60-day period from notice to termination of the Agreement.

    Thomas Atkins, President and CEO of Mammoth, commented on Centerra ceasing exploration activities in Mexico, stating: "Mammoth receiving notice that Centerra was ceasing its activities at Tenoriba came as quite a surprise, especially so close to when we believed they would receive approval of their drill permit application and after making numerous preparations to begin drilling, including having had two drill contractors prepare to bid on the program. Mammoth has reviewed more than 30 exploration properties over the past six months looking for an opportunity to option a property where it could advance its own exploration efforts. Now, in addition to Mammoth continuing this search, Tenoriba is returning to the Company as a large, previously drilled gold-silver exploration property that has undergone the scrutiny of a senior company review leading to preparations for the commencement of a significant drill program."

    Tenoriba Exploration Highlights:Flagship gold-silver advanced stage exploration project in the prolific Sierra Madre precious metal producing region.Large 15 square km - 5 km x 3 km footprint of ubiquitous gold-silver mineralization in what has all the characteristics of a High Sulphidation - Porphyry precious metal system, remains open along strike.Highest gold and silver values sampled graded 74 grams/tonne (g/t) gold and 62 g/t silver.Various targets over 4 km of the mineralized trend tested by 26 diamond drill holes of which 18 drill holes host tens of metres (m) of potentially economical gold-silver mineralization; drill intersections assayed grading up to 45.9 g/t gold over 1.9 m with lower grades over longer intersection widths, including 2.3 g/t gold over 43.0 m and up to 0.5 g/t gold over 126.8 m.Mineralization appears amenable to low-cost open pit mining and heap leaching processing.Drill ready with permit for up to 139 drill holes covering a 2.25 km x 1.25 km area submitted for approval.Centerra, during its 21 months optioning the project has spent almost C$1.2 million at Tenoriba, with total prior direct project exploration spending at Tenoriba exceeding C$4 million.

    Recent Activities at Tenoriba:

    Over the past six months in preparation for drilling, activities at Tenoriba included:Extensive surface lithological and structural mapping and sampling (137 samples collected and analysed by Centerra in addition to the more than 650 samples collected and analyzed by Mammoth) and drill core mapping and sampling (including Terraspec alteration clay analysis) by Centerra geologists.Reinterpretation of the geophysical data from the Mammoth 2015 IP-Mag geophysics survey.Drill hole targeting, including the creation of numerous cross sections consolidating surface, drill core and geophysical information.Submitted an application for a drill permit for up to 139 drill locations covering a 2.25 km x 1.25 km area of the property.Two drill contractors were preparing bids on the Centerra drill program.

    Steps Forward for Mammoth:

    Numerous options are currently under consideration in order to advance Tenoriba following Centerra's notice and taking into account the project's advanced stage of drill program readiness, these activities include:Review with Centerra geologists their drill targeting assessment, including review of its reinterpretation of the geophysical data, structural and lithological mapping, surface and drill hole sample results and the sections produced from this work.Consult with the two communities (ejidos) that oversee and had granted surface access at Tenoriba regarding continuation of surface access.Potentially commission an independent third party with in-depth experience of High Sulphidation-Porphyry mineralogical systems similar to Tenoriba to review the geological data set and make recommendations for the next phase of exploration.Explore optioning Tenoriba to another well capitalized mining/mineral exploration company.Reach out to individual investors, resource investment funds and royalty companies to source the capital to enable Mammoth to advance its initial assessment of drill targets at Tenoriba, including those identified by Centerra, following up on potentially economic intersections from prior drilling at Tenoriba and/or targets recommended by the aforementioned experienced third party technical review and based on these targets determine the feasibility and source the funds required to advance drilling.Merge Mammoth with another junior exploration company whereby the combination of companies creates enhanced exposure and attractiveness to raise the funds required to advance exploration at Tenoriba.

    On the opportunities for Mammoth and Tenoriba, Thomas Atkins, President and CEO of Mammoth, stated: "I'd be surprised if there are many exploration companies with a small $2 million market value which hold a 100 percent interest in a 5,000 hectare gold-silver exploration property where mineralization is sampled ubiquitously over a large 15 square kilometre area, has undergone two prior successful drill programs and a senior company review leading to the intention to drill over 100 drill targets, and is imminently drill ready. The more Mammoth explored Tenoriba the more excited we became of its potential and this potential attracted a large cap company which was prepared to spend up to C$13 million to earn a 70 percent interest. Mammoth is excited to again have 100 percent of Tenoriba and the numerous opportunities to advance the project's future development."

    Mammoth intends to provide updates as it makes progress advancing various activities to move the Tenoriba project forward.

    About Mammoth Resources:

    Mammoth Resources (TSXV: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.

    We seek Safe Harbor.

    © 2020 Canjex Publishing Ltd. All rights reserved.
     
  4. Jon Alba

    Jon Alba Senior Investor

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    Mammoth Resources touched a 52 week high today temporarily, which might seem strange given the news yesterday. But this is not the case, as the news was actually very positive for the company. When the joint venture deal was struck, this was in 2018 when gold and silver prices were half or what they are today. On top of that, Centerra Gold called all the shots and made it difficult for Mammoth to put out more press releases on a constant basis.

    Now Mammoth Resources owns the property 100% once again and they received $1.2 million in work on that project from Centerra, which makes it more valuable and attractive for either raising funds through a placement, or getting a better joint venture partner.

    This is an ideal gold project with numerous high grade and deep gold drill results that actually go from the surface down. No doubt, Mammoth Resources will get financing in this bull market.
     
  5. Jon Alba

    Jon Alba Senior Investor

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    Mammoth visits Mexico, talks to communities by Tenoriba

    2020-10-19 09:07 MT - News Release


    Mr. Thomas Atkins reports

    MAMMOTH PROVIDES UPDATE ON ACTIVITIES AT ITS TENORIBA GOLD PROPERTY, MEXICO

    Mammoth Resources Corp. has provided an update on its activities related to the transfer of operations and 100-per-cent ownership of the Tenoriba gold-silver project located in the Sierra Madre precious metal belt, southwestern Chihuahua, Mexico. Following the notice given to Mammoth by Minera Centerra SA de CV, the Mexican subsidiary company of Centerra Gold Inc., whereby Mammoth announced on Sept. 22, 2020, that Centerra was ceasing exploration activities in Mexico, including at Tenoriba, Mammoth has been actively transferring project information and surface access agreements to Mammoth. Activities since the date of the Centerra notice include: (1) travel to Mexico to attend a technical review of exploration activities and data produced by Centerra during its 21 months operating the option agreement and the transfer of these data to Mammoth, and (2) reintroduce itself to community members and assure voting members of influence within the ejido and executive/administrators that Mammoth was now managing agreements and activities at Tenoriba following Centerra's departure, that current agreements would be honoured going forward and require transferring to Mammoth. Mammoth also initiated discussions to extend these agreements for a two-year period thereby facilitating surface access for a significant future drill program.

    Thomas Atkins, president and chief executive officer of Mammoth, commented on Centerra ceasing exploration activities in Mexico, stating: "Travelling back to the project area, myself and Richard Simpson, VP exploration at Mammoth, received a warm welcome after being absent the region the past 20 months. It was terrific seeing friends and acquaintances, and discussing plans and the importance of our working together going forward for our mutual benefits. I feel confident this message of co-operation was well understood and embraced, and we look forward to returning again shortly as we act on some of our plans to advance Tenoriba to a significant drill program, most likely as soon as we're able in early 2021. We're in frequent contact with the contractor responsible for the drill permit application and have been told that permit approval is advancing well, and we're putting into place other activities to have Mammoth in the best position possible to have a number of drill targets testing numerous areas over the five-kilometre strike length of mineralization at Tenoriba. As we continue to advance these activities, we'll make further announcements to ensure shareholders are apprised of these steps towards commencement of drilling."

    Tenoriba technical review

    The owner of a diamond drilling company and a third party geologist accompanied Mammoth's vice-president of exploration, Mr. Simpson, to Centerra's Mexican office where a meeting was held to review Centerra's activities during its period working at Tenoriba. Mr. Atkins, president and CEO of Mammoth, attended this meeting by conference link. A number of observations, recommendations and conclusions were presented, and all Centerra data were transferred to Mammoth. Mammoth will, over the next couple of weeks, integrate Centerra's work data with its own and, from this integration and review, Mammoth will make recommendations on any additional work that may be deemed appropriate prior to targeting drill locations and the commencement of drilling. The company expects to announce the results of this review, its recommendations for any future work and timing of any such activities in the next couple of weeks.

    Please refer to the projects section, maps, images and photos subsection, of the company website for some slides of Mammoth's trip into the project area, including some course gold samples panned from a location just below the El Moreno area at Tenoriba.

    Community consultations

    Following the technical meeting, Mr. Simpson and the third party geologist travelled to Chihuahua city where they met Mr. Atkins and the Tenoriba project community relations manager. All four participants travelled to the project area to meet with community members and assured these community members, ejido voting members of influence and executive/administrators of the ejidos that Mammoth was now managing agreements and activities at Tenoriba following Centerra's departure, and that current agreements would be honoured going forward and require transferring to Mammoth. Mammoth also initiated discussions to extend these agreements for a two-year period. Mammoth met with members of both ejidos (community groups) and the district president. A warm welcome was received, and discussions have led to meetings and dates being set in the near future for voting on the transfer and extension of surface access agreements, with the intention that extensions to surface access agreements will be in place before year-end.

    Please refer to the projects section, maps, images and photos subsection, of the company website for some slides of Mammoth's trip into the project area, including pictures of various meetings held with community members.

    Mammoth looks forward to providing additional information on its activities at Tenoriba as it prepares the project for a significant drill program to commence as early as it is able in 2021.

    About Mammoth Resources Corp.

    Mammoth is a precious metal mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other attractive mining-friendly jurisdictions in the Americas. The company holds a 100-per-cent interest (subject to a 2-per-cent net smelter royalty purchasable anytime within two years from commencement of commercial production for $1.5-million (U.S.)) in the 5,333-hectare Tenoriba gold property located in the Sierra Madre precious metal belt in southwestern Chihuahua, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above-average potential for economic concentrations of precious metals mineralization.

    We seek Safe Harbor.
     
  6. Jon Alba

    Jon Alba Senior Investor

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