Mammoth Reports 6.32m at 2.10g/t Au, Expands Blue Dick Silver Zone by 5km

Excelsior Project Enters New Exploration Phase

Mammoth Minerals Limited (ASX, M79) has commenced a significant new phase of Reverse Circulation (RC) drilling at its Excelsior Gold-Silver Project in Nevada, USA. This follows the release of compelling assay results from its maiden diamond drilling campaign, which have reshaped the company’s understanding of the mineralisation potential within the Buster Trend.

The diamond core results have highlighted characteristics consistent with a Carlin-style gold deposit; a type of mineralisation known for its large scale and economic significance. This discovery is particularly notable given the project’s location within the Walker Lane Trend, a region historically dominated by epithermal-style deposits. Mammoth’s geological logging and assay data suggest that the gold mineralisation is hosted in sedimentary rocks with structural features typical of Carlin-type systems, such as fault and collapse breccia zones.

Strategic Shift to Carlin-Type Mineralisation

Managing Director Glenn Poole emphasised the transformative nature of these findings, noting that the Carlin deposit model opens up the possibility of a much larger gold system than previously considered. He referenced recent discoveries by major players like Barrick Mining Corporation to illustrate the potential scale and grade that could be unlocked. Consequently, Mammoth has realigned its exploration strategy to prioritise targets fitting this new deposit model, focusing on the broad limestone sequences that are favourable hosts for Carlin-style mineralisation.

RC drilling has resumed with a contractor experienced on the property, aiming to extend known mineralisation both along strike and at depth. Early results from diamond drilling include intercepts such as 6.32 metres at 2.10 grams per tonne gold and 14 metres at 0.99 grams per tonne gold, with higher-grade zones within these intervals. Despite some challenges with core recovery and assay turnaround times in previous campaigns, Mammoth has appointed new service providers to improve operational efficiency and reporting speed.

Expansion of Blue Dick Polymetallic Zone

Alongside the gold-focused work at Buster, Mammoth has expanded the silver-rich polymetallic Blue Dick Zone by more than 5 kilometres, extending the mineralised trend to over 3.5 kilometres. This expansion was facilitated by new claim staking informed by LiDAR and geophysical surveys, revealing multiple untested parallel trends. Historical and recent sampling in this area has returned exceptional grades, including assays exceeding 5,900 grams per tonne silver and notable gold, copper, lead, and antimony values.

This expanded footprint provides Mammoth with a robust pipeline of prospects to explore in upcoming campaigns, complementing the gold exploration at Buster and enhancing the overall project’s value proposition.

Looking Ahead

Mammoth’s renewed drilling program and refined geological model mark a pivotal moment for the Excelsior Project. The company is well-positioned to deliver further assay results and geological insights in the coming weeks, which will be critical in validating the Carlin-style deposit hypothesis and defining the resource potential. With a substantial land package and multiple high-grade targets, Mammoth Minerals is advancing its exploration with a clear focus on unlocking significant precious metal resources in a globally recognised mining district.