Mammoth Announces Gold Recoveries Of 87% From Bottle Roll Tests On Coarser-Fraction Material From The Large Carneritos Area On Its Tenoriba Gold-Silver Property, Mexico

The February 5, 2026, news release reports highly favorable metallurgical test results from the Carneritos area of the Tenoriba gold-silver property in Mexico. Bottle roll tests on an oxidized composite sample yielded 87% gold and 67% silver recoveries. Critically, these results were achieved on material crushed to -10 mesh, which is approximately 20 times coarser than previous tests. The leaching kinetics were rapid, with most metal recovered within the first 12 hours of a 96-hour test. Reagent consumption was low (Cyanide 0.2 kg/t; Lime 3.8 kg/t).

This news is materially positive for Mammoth Resources for three specific reasons: - Technical De-risking: High recoveries on coarse material are a prerequisite for a low-CAPEX heap leach operation. This reduces the need for expensive fine-grinding infrastructure. - Economic Validation: The rapid leach time and low reagent consumption suggest favorable operating costs (OPEX), essential for the small-scale "pilot" production scenario the company is exploring to generate internal cash flow. - Strategic Alignment: These results justify the recent strategic alliance with RM Mineria, whose principals (the Berlanga family) specialize in Mexican heap leach projects. It confirms their thesis that Tenoriba’s near-surface oxide mineralization is amenable to simple processing.

However, the impact is tempered by the company’s fragile financial state. While the metallurgy is excellent, the company still lacks a formal mineral resource estimate and the capital to build even a pilot facility.

Mammoth Resources is a Canadian-based explorer focused on the Tenoriba gold-silver project in Chihuahua State, Mexico. The project covers 5,333 hectares in the Sierra Madre precious metal belt. Historically, the project has shown a large "2-million-ounce target," but recent efforts have focused on the Carneritos, Moreno, and Masuparia areas for shallow, oxidized mineralization suitable for heap leaching.