Mammoth Minerals Limited (ASX: M79), a resource development and exploration company with a portfolio of gold and copper assets across the Americas, has announced a significant 340% increase in its strategic landholding at the Excelsior Gold-Silver Project in Nevada, USA. The expansion, achieved through strategic staking, brings the total project area to 83.6 square kilometers. This expanded tenure includes several previously identified mineralised occurrences according to the US Geological Survey MRDS database.
The newly acquired land contains multiple historical workings and prospects. These include the Old Buster Mine, Kentucky Mine, and Lidia Queen Mine, all past producers of gold and silver. Other notable sites are the Mattmueller Mine, an antimony occurrence, and the Palmetto Mine, a former silver producer. Additionally, several gold and copper prospects, such as the Nevada Prospect, California Prospect, Paymaster Prospect, Helpmeet Claim, and Reliance Prospect, are located within the staked ground.
Extensive ground disturbances, including shafts, pits, and costeans, have been mapped from LiDAR imagery across the additional tenure, with many occurrences located outside of those already identified in the MRDS database. Prospecting activities have commenced, focusing on mapping and rock chip sampling of MRDS occurrences and large groupings of ground disturbances with no open file coverage of the target description. The company has completed a high-resolution magnetics survey across the entire project area, and results are pending.
Glenn Poole, Managing Director of Mammoth Minerals, stated that the expansion aims to understand the extent and controls on high-grade gold mineralisation previously intersected. He highlighted the potential of a large circular feature identified from satellite imagery and the abundance of associated mineral occurrences on its margin. The company is committed to the commercialisation of its portfolio to support the development of its USA gold assets, and further updates will be provided as exploration programs progress.
