Mammoth Minerals has delivered promising initial diamond drilling results at its Excelsior Gold Project in Nevada, confirming extensive high-grade gold mineralisation and validating its geological targeting model.
- Multiple significant shallow, high-grade gold intercepts in first three drill holes
- Drilling confirms mineralisation open at depth and along strike over 1,100m tested
- Maiden Mineral Resource Estimate and Exploration Target work underway
- Nine additional drill holes pending assay results
- Regional prospecting and geophysical surveys expanding project scope
Strong Start to Maiden Drilling Campaign
Mammoth Minerals Limited (ASX – M79) has announced a robust beginning to its maiden diamond drilling program at the Excelsior Gold Project, located in Nevada’s prolific Walker Lane trend. The first three diamond drill holes have returned multiple significant shallow, high-grade gold intercepts, validating the company’s targeting model developed from an extensive historical drilling database spanning 14.5 kilometres.
Key Intercepts and Geological Validation
Highlights include a 14.4-metre intercept grading 4.33 grams per tonne gold from 117 metres depth in drill hole MEXDD004, featuring a high-grade sub-interval of 3.1 metres at 19.10 grams per tonne. Another hole, MEXDD001, intersected 25.5 metres at 1.05 grams per tonne from just 35.45 metres, including a narrow but very high-grade 0.55-metre section at 26.7 grams per tonne. These results confirm the presence of extensive mineralisation within the Buster Mine Trend, which remains open at depth and along strike.
Extending Known Mineralisation and Resource Potential
The drilling has tested approximately 1,100 metres of the overall 5,000-metre strike length defined to date, confirming mineralisation to depths of at least 250 metres. The intercepts extend known mineralised shoots beyond historical drilling, including down-dip extensions of previously reported high-grade zones. This has given Mammoth confidence to commence work on its maiden Mineral Resource Estimate and Exploration Target, anticipated later this quarter.
Pending Results and Broader Exploration
Assay results from nine additional diamond drill holes, covering 1.3 kilometres of strike, are awaited. These holes target the down-dip potential of the Buster Underground workings and the Buster Open Pit, which extends 350 metres in strike and averages 25 metres in width. Meanwhile, regional prospecting and high-resolution magnetic surveys are underway across Mammoth’s expanded 83-square-kilometre land package, revealing geological similarities to the nearby Goldfield Caldera, a historically prolific high-grade gold district.
Strategic Implications for Mammoth Minerals
Managing Director Glenn Poole emphasized the significance of these early results, noting that the confirmation of the targeting model could rapidly increase the scale and confidence in the shallow mineralisation at Excelsior. The company’s strategic land acquisitions and ongoing exploration programs position Mammoth well to unlock further value from this emerging gold district.
Bottom Line?
With high-grade gold confirmed and resource estimation underway, Mammoth Minerals is poised for a pivotal phase at Excelsior.
Questions in the middle?
- How will pending assay results from the nine additional drill holes impact the overall resource potential?
- What is the expected timeline and scale for the maiden Mineral Resource Estimate release?
- How might regional prospecting results influence Mammoth’s exploration strategy across the broader land package?