Excelsior’s Intrusive Complex Spans 5.5km by 4.2km, Echoing 4.2Moz Goldfield Caldera

Exploration Breakthrough at Excelsior

Mammoth Minerals Limited (ASX, M79) has announced a significant advancement in its exploration efforts at the Excelsior Gold Project in Nevada, USA. A recently completed high-resolution magnetic survey has delineated a substantial 5.5 by 4.2 kilometre intrusive complex north of the known Buster Trend deposits. This newly defined geological feature exhibits considerable lithological and structural variation, suggesting a long-lived magmatic system with multiple intrusion events.

The scale and complexity of this intrusive body bear a striking resemblance to the nearby Goldfield Caldera, located just 35 kilometres to the northeast, which historically produced over 4.2 million ounces of gold. This analogy elevates Excelsior’s prospectivity, positioning it as a potentially significant gold district in its own right.

Field Work and Prospecting Progress

Complementing the geophysical data, Mammoth has conducted extensive prospecting across the margins of the intrusive complex, where a high concentration of historical workings and surface disturbances were identified using LiDAR technology. Approximately 350 rock chip samples have been collected from these priority areas, with assay results currently pending. These samples will be critical in validating the geophysical targets and guiding future drilling campaigns.

Meanwhile, the geological strike length of the Buster Trend has been extended to 7.3 kilometres through preliminary structural interpretation, a notable increase from the 1.1 kilometres previously tested by drilling. This extension underscores the potential for further mineralisation along this trend and informs the company’s ongoing regional targeting strategy.

Advances at Skyline Project in Canada

In parallel, Mammoth has completed magnetics and 3D induced polarization (IP) surveys at its Skyline Copper-Silver-Zinc-Gold Project in Newfoundland, Canada. The magnetics survey identified multiple structural trends characterized by demagnetised zones, which are interpreted as potential conduits for volcanogenic massive sulphide (VMS) mineralisation. The 3D IP survey further delineated coincident chargeability and resistivity anomalies, particularly at the Governor’s Target, which remains open to the east.

These geophysical results, combined with surface copper sampling, provide a robust pipeline of exploration targets for follow-up field investigations and drilling.

Strategic Spinout Plans to Unlock Value

Reflecting its strategic focus on gold exploration and development in the USA, Mammoth’s Board is evaluating a potential spinout of its Blue Dick Silver-Copper-Antimony-Gold Project in Nevada and the Skyline Project in Canada. The proposed demerger and concurrent initial public offering (IPO) aim to create a standalone vehicle dedicated to advancing these base and precious metals assets. This move is subject to shareholder and regulatory approvals and is intended to unlock value by attracting focused investment and funding for these projects.

Managing Director Glenn Poole emphasised the significance of the recent survey results, stating that the scale and complexity of the Excelsior intrusive complex reinforce the company’s strong ground position and exploration potential. He highlighted the importance of the pending assay results and ongoing drilling programs in shaping the next phase of exploration.

Looking Ahead

Mammoth Minerals is poised to deliver further updates as assay results from rock chip sampling and drilling become available. The combination of cutting-edge geophysical techniques and targeted fieldwork is rapidly advancing the understanding of these projects’ mineral potential, setting the stage for what could be transformative discoveries in both gold and base metals domains.