• We are resuming coverage on Mammoth Resources. MTH is exploring the Tenoriba gold-silver project (pre-resource stage) in southwestern Chihuahua state, Mexico. A review by experienced independent geologists confirmed Tenoriba's potential for hosting a high-sulfidation epithermal deposit similar to Alamos Gold’s (TSX: AGI) Mulatos mine, and Agnico Eagle’s (TSX: AEM) La India mine.
  • High sulfidation systems typically host bulk tonnage, low-grade, low-cost, open-pit/heap leach deposits. MTH has identified four initial areas of gold-silver mineralization over a 5.5 km long x 3 km wide trend.
  • Ninety percent of 55 holes drilled to date intersected mineralization, with an average grade of 0.61 g/t AuEq. Management has assigned an exploration target of 1.8 Moz AuEq across three targets. Based on our review of previous drilling results, and the dimensions of the three targets, we believe management’s exploration target is conservative.