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Black Mammoth Metals Leases Blanco Creek Gold Property
Black Mammoth Metals Leases Blanco Creek Gold Property Canada NewsWire VANCOUVER...
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[{"type":"text","content":"\n\n\n\nBlack Mammoth Metals Leases Blanco Creek Gold Property\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 14, 2017\n\n\n\nBMM: TSX-V\n\n\n\nVANCOUVER, Feb. 14, 2017 /CNW/ - Black Mammoth Metals Corporation (TSX-V: BMM / Frankfurt: LQK / OTCBB: LQRCF) (\"Black Mammoth\" or the \"Company\") is pleased to announce that Black Mammoth Gold Corporation (\"Black Mammoth Gold\"), a wholly owned subsidiary of Black Mammoth Metals Corporation, has entered into an Assignment and Assumption Agreement dated February 13, 2017, with IDA Gold Corporation (\"IDA\") pursuant to which IDA has assigned, and Black Mammoth Gold has assumed, all of the rights and obligations of the Lessee under a long-term lease (the \"Lease\") of the Blanco Creek mineral property (\"Blanco Creek\") or the (\"Property\") located in central Idaho. The Lease is subject to an underlying two percent (2%) production royalty in favour of the landlord and a one percent (1%) production royalty in favour of IDA. The Assignment and Assumption Agreement is subject to the approval of the TSX Venture Exchange (\"TSX-V\").\n\nThe Blanco Creek Property consists of 40 Federal Unpatented Lode Claims totalling approximately 826 acres (334 hectares) and includes three historic underground, vein hosted, gold mines: the Hercules, the Pasadena, and the Alberta. During the early 1940s, the #1 and #2 adits, along with an intermediate level, were established at the Hercules, with timber and equipment for mill construction hauled to the Property. The onset of World War II stopped all construction work.\n\nThe Property lies along a 3658 metre (12,000 feet) strike length of the regional Blanco Creek Shear Zone in the Elk City Min...