Black Mammoth receives drill permit for Leadore

Executive Summary

• Black Mammoth Metals Corp. has obtained final approval for a drill permit to test priority targets at its 100%-owned Leadore silver-lead-rare-earth-element (REE) property in Idaho.
• The upcoming drilling program will target up to 12 sites on Bureau of Land Management lands, focusing on expanding known oxide mineralization, testing a new sulphide target identified by induced polarization (IP) surveys, and delineating the extent of oxide REE placer layers.
• The project features three distinct targets: an oxide silver-lead zone centered on historic mines (Kimmel, Leadville, Baby Joe), a sulphide target beneath the Kimmel mine, and a newly identified oxidized REE placer layer at the Leadville mine.

Key Details

• Drill Permit Status: Final approval received to drill test priority targets at the Leadore property.
• Drill Plan: Up to 12 drill sites selected on Bureau of Land Management lands.
• Target 1: Oxide Silver-Lead:
  • Goal: Expand the known oxide mineralized area.
  • Historical Context: A prior operator drilled six shallow core holes (max depth 105m) in 2012, encountering significant silver-lead mineralization near historic mines (Kimmel, Leadville, Baby Joe) and discovering a new disseminated zone in brecciated granite.
  • Historical Survey: 2011 soil survey identified an extensive silver-lead zone (~4.5 sq km) centered on the three historic mines.
• Target 2: Sulphide Silver-Lead:
  • Goal: Test the sulphide target identified by recent IP survey.
  • Geophysics: IP survey delineated a large chargeability anomaly with coincident low resistivity in carbonate host rocks underlying the historic Kimmel mine.
  • Dimensions: Maximum east-west width of the anomaly is estimated at 400 meters; depth from surface to top of anomaly is estimated at 200–250 meters.
  • Geology: The anomaly is situated at the base of the Beaverhead mountains below pediment cover, overlain by silver-lead oxide and REE placer layers. Three major fault intersections are adjacent to the anomaly on the south side.
  • Historical Data: Kimmel was the most productive historic mine; historical data suggests sulphide-bearing ores remain open along the northwest-trending fault and at adjacent intersections.
• Target 3: Rare Earth Elements (REE):
  • Goal: Test the extent of oxide REE placer layer.
  • Discovery: Recent rock chip sampling (2025) identified REE mineralization in a placer/laterite horizon atop the fault-hosted lead and silver mineralization near the historic Leadville mine.
  • Characteristics: The REE mineralized area is an oxidized layer that does not continue at depth.
• Property Interest: Black Mammoth holds a 100% interest in Leadore with no royalties.
• Qualified Person: Mark J. Abrams, CPG No. 11451, reviewed and approved the technical content.

Notable Quotes

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