Mammoth Begins Field Activities At Its Tenoriba Gold-Silver Property, Mexico
Mammoth advances field activities at the Tenoriba project while facing critical liquidity challenges.
Mammoth Resources Corp. has initiated field activities at its 100% owned Tenoriba gold-silver project in Chihuahua, Mexico. The company is currently reviewing 55 prior diamond drill holes across three mineralized areas—Carneritos, Masuparia, and Moreno—while assessing access roads and drill pad locations.
A primary objective of the current work is to collect up to 200 kg of samples from the Carneritos area for advanced production-size leach tests. These tests aim to evaluate gold-silver recoveries and inform the design of initial small-scale leaching operations. This effort follows an April 16, 2026 announcement regarding a low-cost drill quote of approximately US$1.70/oz AuEq, as well as February 2026 metallurgical results that demonstrated an 87% gold recovery from coarse-fraction bottle roll tests.
Additionally, the company highlighted a strategic alliance with RM Mineria S de RL de CV focused on advanced development and near-term production opportunities.
Mammoth Resources Corp. (MTH) released an operational update confirming progress on previously announced metallurgical testing and field preparation for a maiden resource drill program. The company did not introduce new financial data, resource estimates, or financing. The market had already priced in the low drill costs and positive metallurgy from earlier in 2026.
The step is incremental and expected, moving the project closer to Phase 1 drilling and pilot leach validation. It does not materially alter the company's risk profile or liquidity situation. No new strategic investors or capital raises were announced, leaving the company's immediate cash constraints unaddressed.
Mammoth Resources Corp. is a junior exploration company focused on the Tenoriba gold-silver property in southwestern Chihuahua, Mexico. The project covers 5,333 hectares and is hosted in a high-sulfidation geological system with abundant near-surface oxidized mineralization amenable to low-cost open pit mining and heap leaching.
Historical exploration includes 55 diamond drill holes totaling 7,500 meters, identifying a conceptual exploration target of 1.69 to 1.88 million gold equivalent ounces (AuEq). No NI 43-101 resource estimate exists. The company is targeting a maiden Inferred resource in the Oxide-Mixed zone, primarily at the Carneritos area.
The property carries a 2% Net Smelter Royalty (NSR), purchasable for US$1.5 million within two years of commercial production.