Mammoth Minerals has intensified its exploration at the Excelsior Gold-Silver Project with a second drill rig, aiming to deliver its first resource estimate by Q4 2025. A comprehensive magnetics survey further sharpens targeting across multiple mineralised trends.
- Second diamond drill rig operational at Excelsior Project, Nevada
- Initial drilling targets extensions of high-grade Buster Mine mineralisation
- Property-wide magnetics survey completed, including maiden coverage of Blue Dick trend
- Maiden Mineral Resource Estimate targeted for Q4 calendar year 2025
- Company exploring commercialisation options including sale and joint ventures
Accelerated Drilling at a High-Grade Nevada Gold-Silver Project
Mammoth Minerals Limited has significantly stepped up its exploration efforts at the Excelsior Gold-Silver Project in Nevada, USA, with the arrival of a second diamond drill rig. This move accelerates the company’s maiden drilling campaign, which targets a maiden Mineral Resource Estimate by the end of 2025.
The initial drill hole, completed by the first rig, focused on extending known high-grade mineralisation at the Buster Underground Mine, a historically productive site that yielded 19,200 ounces of gold at an impressive 41 grams per tonne. Drilling progress has been efficient, averaging 30 metres per shift, and further holes are planned to better define the mineralisation’s extent and controls.
Following Up on Historical High-Grade Intercepts
The second rig is now drilling twin holes designed to infill and extend mineralisation intersected in previous reverse circulation drilling campaigns. These holes are also intended to clarify the orientation and structural controls of the mineralisation, which is crucial for refining exploration models and targeting.
Historical intercepts in the area have shown promising grades, including intervals such as 51.8 metres at 4.00 grams per tonne gold and narrower high-grade zones exceeding 15 grams per tonne. The company’s geological team is particularly interested in validating a targeting model that suggests two intersecting high-grade orientations, northeast and northwest, which could indicate multiple repetitions of mineralised zones along the 5-kilometre Buster Trend.
Enhanced Geological Understanding Through Geophysics
Complementing the drilling program, Mammoth has completed a property-wide heli-magnetic survey covering the Buster, Ghost, and Porphyry trends, as well as maiden geophysical coverage of the Blue Dick trend. This is the first time modern geophysics has been applied across these areas, which have historical silver, gold, copper, and antimony mineralisation.
The magnetics data will be integrated with drill core observations and surface mapping to refine structural and lithological interpretations, thereby improving targeting precision. This multidisciplinary approach aims to unlock further high-grade domains and support the upcoming resource estimate.
Strategic Focus on US Gold Assets and Commercialisation
Mammoth Minerals is positioning itself as a committed US-focused gold explorer. Beyond advancing exploration, the company is actively considering commercialisation pathways for its portfolio, including potential sales, joint ventures, or spin-out opportunities. This strategic flexibility could unlock value for shareholders as the company progresses its projects.
With additional projects under exploration in South Dakota, Newfoundland, and Peru, Mammoth is building a diversified portfolio of precious and base metal assets across the Americas. However, the immediate spotlight remains firmly on the Excelsior Project and its maiden resource milestone.
Bottom Line?
As Mammoth pushes to define a maiden resource by year-end, the market will be watching closely for assay results that could validate its high-grade targeting model and unlock significant value.
Questions in the middle?
- Will the upcoming assay results confirm the high-grade extensions suggested by initial drilling?
- How might the magnetics survey data reshape Mammoth’s exploration strategy across the Excelsior Project?
- What commercialisation route will Mammoth prioritize to maximise shareholder value?