Mammoth Minerals has finalized its acquisition of two promising US gold projects and revamped its leadership to spearhead a high-grade gold drilling campaign.
- Completed acquisition of Excelsior Gold Project (Nevada) and Bella Gold Project (South Dakota)
- Appointment of Kevin Puil, experienced US resources financier, as Non-Executive Director
- Rob Jewson transitions to Executive Chairman to lead next growth phase
- Maiden drilling program imminent at Excelsior to define initial gold resource
- Ongoing exploration and data reprocessing at Bella to refine drill targets
Strategic US Gold Acquisitions Completed
Mammoth Minerals Limited (ASX, M79) has taken a decisive step into the US gold sector with the completion of its acquisitions of the Excelsior Gold Project in Nevada and the Bella Gold Project in South Dakota. These projects are situated in historically significant gold regions, with Excelsior located in the prolific Walker Lane trend and Bella near the famed Homestake Gold Mine.
The acquisitions mark a transformational milestone for Mammoth, positioning the company to rapidly advance exploration and resource definition activities in two distinct and potentially high-grade gold districts.
Leadership Changes to Drive Growth
Alongside these acquisitions, Mammoth has strengthened its board with the appointment of Kevin Puil as a Non-Executive Director. Based in Texas, Mr. Puil brings over 25 years of experience in resource investment and corporate governance, including his role as an Independent Director of NYSE-listed Dakota Gold. His expertise and North American network are expected to enhance Mammoth’s market presence and strategic execution in the US.
Simultaneously, Rob Jewson has transitioned from Non-Executive Chairman to Executive Chairman, underscoring his commitment to leading the company through this pivotal growth phase. His new role will focus on steering the company’s exploration and development programs as Mammoth accelerates its US gold strategy.
Exploration Plans and Next Steps
Mammoth is poised to commence its maiden drilling program at Excelsior Springs imminently, targeting the Buster trend with the goal of defining a maiden gold resource. The company already has a significant number of metres drilled, providing a solid foundation for advancing its high-grade gold ambitions.
At Bella, exploration efforts continue with a focus on reprocessing geophysical data to better correlate historic high-grade drill results with magnetic and electromagnetic signatures. This refined targeting approach aims to optimize upcoming drill campaigns and unlock further resource potential.
Managing Director Glenn Poole highlighted the transformational nature of these developments, expressing confidence in the company’s ability to rapidly progress its US portfolio and deliver value to shareholders.
Broader Portfolio and Outlook
While the US gold projects take centre stage, Mammoth continues to advance its district-scale Skyline copper-zinc-silver project in Newfoundland, Canada, and its copper-gold exploration in Peru. These diversified assets complement the company’s growth strategy and provide multiple avenues for future value creation.
Investors will be watching closely as Mammoth transitions from acquisition to active exploration and resource delineation, with upcoming drilling results likely to be key catalysts.
Bottom Line?
Mammoth’s US gold acquisitions and leadership overhaul set the stage for a critical exploration phase that could redefine its growth trajectory.
Questions in the middle?
- What initial results will the maiden drilling at Excelsior reveal about the gold resource potential?
- How will Kevin Puil’s North American connections influence Mammoth’s capital and market access?
- What timeline and budget has Mammoth allocated for advancing exploration at Bella and other assets?