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Mammoth Receives Updated Drill Quote Illustrating Low US$1.70 Per Gold Equivalent Ounce Cost To Drill Initial 500,000 Ounce Exploration Target At Its Tenoriba, Gold-Silver Property, Mexico
(TheNewswire)     Toronto, Canada ( April 16, 2026 ) - TheNewswire - M...
About this update from Mammoth Resources Corp.
[{"type":"text","content":" Mammoth Receives Updated Drill Quote Illustrating Low US$1.70 Per Gold Equivalent Ounce Cost To Drill Initial 500,000 Ounce Exploration Target At Its Tenoriba, Gold-Silver Property, Mexico\n(TheNewswire)\n\n\n \n \n\n\nToronto, Canada\n(April 16,\n2026) -\nTheNewswire - Mammoth Resources Corp. (TSX-V: MTH),\n(the “Company”, or\n“Mammoth”) is pleased to announce that based upon\nupdated drill contractor quotes, the Company continues to see a\ncompelling cost relative to potential value that could be created by\ndefining up to 500,000 gold equivalent ounces (\"gold Eq\")\n(silver is converted to gold equivalent at ratio of 75 silver to one\ngold), in Phase 1 drilling, within the Carneritos zone of the\npreviously determined 1.8 million gold equivalent ounce Exploration\nTarget (refer to press release dated May 15, 2024 for description of\nthe Exploration Target) at its Tenoriba gold-silver exploration\nproperty in the Sierra Madre precious metal belt, Mexico.\n\n\n \n\n\nThe most competitive drill contractor quote includes an\nall-inclusive cost of US$304/metre (m) drilled (drilling costs are\nquoted in US$ in Mexico), or at today's US:Canadian exchange rate\nC$416/m. This quote includes drilling contractor and consumables\ncosts, access road maintenance, drill pad construction, drill water\nsupply, camp and equipment, all geological staffing, plus sample\ncollection, preparation and analysis, estimates of community costs and\nincludes a 15% contingency on the quoted cost. \n\n\n \n\n\nOf the 1.8 million gold equivalent ounce Exploration\nTarget (the \"Target\") in the three phases of drilling\nplanned to define this resource Target, the first phase of drilling in\nthe Carneritos area, consists of 60 drill holes to depths of 50 m for\na total of 3,000 m drilling. The objective of this first phase is to\ndefine a maiden Inferred mineral resource within the surface to\nshallow depth, oxidized/transition zone (“Oxide-Mixed” zone). This\ninitial phase of drilling is estimated to cost US$910,000/C$1,250,000\nand has the potential to define a maiden gold-silver resource with a Target of\n530,688 gold Eq ounces, or a cost of US$1.71/C$2.34 per gold Eq\nounce. Refer to Table 2. Quoted Drill Cost per\nTarget Gold Equivalent Ounce Drilling - Phase 1 and 2 Drilling, for\nthe...