SYDNEY – Mammoth Minerals (ASX:M79) announced Wednesday that it has commenced reverse circulation drilling at its Excelsior Springs Project in Nevada, United States, targeting silver and gold mineralisation across four prospect areas.

The drilling rig will initially test geophysical targets along the Buster gold trend before moving to the Blue Dick prospect, which the company identifies as the primary focus of the campaign. Subsequent drilling is planned at the Imperial and Railroad Springs prospects.

Blue Dick hosts multiple silver-gold trends that have not been previously drill-tested or explored using modern methods. Recent mapping and surface sampling have identified mineralisation across more than 6.5 kilometres of cumulative strike length. Rock-chip sampling returned up to 15,336 grams per tonne (g/t) silver, 7.46 g/t gold, 2.53% copper, and 0.31% antimony. A channel sample returned 0.20 metres at 17,582 g/t silver, 0.75 g/t gold, 2.76% copper, and 1.72% antimony.

Managing Director Glenn Poole said the company aims to test a pipeline of targets developed from recent exploration programs. “The bonanza-type grades we are seeing in surface samples at Blue Dick are strong indicators of a metal-rich system, with Mammoth’s maiden drilling program aiming to extend the mineralisation along strike and down-dip, unlocking the true potential of the more than 6.5km of prospective strike we have mapped,” Poole said.

Along the Buster trend, the company will test targets extending over 700 metres from the historical Buster Mine. Mammoth interprets geophysical targets as potential fault structures that may have channelled mineralised fluids into limestone host rocks.

Drilling near the historical Imperial Mine will follow up previous intercepts including 28.96 metres at 2.23 g/t gold from 3.05 metres and 13.72 metres at 4.74 g/t gold from 30.48 metres.

At Railroad Springs, surface sampling returned up to 1,631 g/t silver, 0.3 g/t gold, 0.34% antimony, 3.8% lead, and 1.9% zinc.

Mammoth Minerals is an Australian-based resource exploration and development company targeting gold, copper, and silver across the Americas. The company expects to report assay results progressively and is targeting a maiden mineral resource estimate for the Buster prospect later this quarter.

International Context
The drilling campaign comes amid renewed global interest in precious metals exploration, driven by sustained demand for silver and gold as safe-haven assets and industrial inputs. Nevada is one of the world's premier mining jurisdictions, hosting numerous large-scale gold and silver operations. The project's proximity to established mining infrastructure and its high-grade surface showings could attract further investment in the region.

Verified Analysis
The bonanza-grade surface samples at Blue Dick, while indicative of a mineralised system, require confirmation through drilling. The company's systematic approach covering multiple prospects increases the probability of defining an economic resource. However, exploration carries inherent risks, and investors should await independent assay data from the drilling program.

Future Developments
Assay results from the current program are expected over the coming months. Positive results could lead to an accelerated resource definition at Blue Dick and Buster. The company's targeting of a maiden resource estimate for Buster later this quarter, if successful, may provide a platform for further feasibility studies. Broader trends in precious metals pricing and exploration activity in Nevada will influence the project's development timeline.