Mammoth Minerals (ASX:M79) Shares Fall: What's Happening?

Sonal Goyal

05 November 2026 01:55 PM AEDT

Mammoth Minerals (ASX:M79) Shares Fall: What's Happening?

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Key Highlights

Shares traded at A$0.025 during the 5 November 2026 session, down 7.41%.
RC drilling on the Buster Gold Trend returned 10.67 metres at 3.76 g/t gold from 198.2 metres.
Multi-element assays from the Blue Dick maiden drilling are awaited, with results due in the December quarter.

Shares in Mammoth Minerals Ltd (ASX:M79) traded at A$0.025 during the Trading session on 5 November 2026, down 7.41% in the early afternoon. The S&P/ASX 200 was up 1.87%, trading near 9,000 points. Mammoth is a gold exploration company with a portfolio of prospects, including the Buster Gold Trend and the Blue Dick Prospect. Its latest update is a quarterly activities report for the period ending 30 September 2026.

Quarterly activities report for the September 2026 period

Mammoth reported that RC drilling confirmed shallow gold mineralisation 700 metres along strike from Buster. The company completed a program across the Buster Gold Trend, with results including 10.67 metres at 3.76 g/t gold from 198.2 metres, and 22.9 metres at 1.37 g/t gold from 10.7 metres in another hole, including 3.0 metres at 4.15 g/t gold.

A maiden RC drilling program has commenced at the Blue Dick Prospect, with 23 holes completed and multi-element assays awaited. Rock chip and grab sampling at the Imperial Prospect also returned high-grade gold, silver and copper results, which the company said confirm mineralisation beyond historical workings.

Sector context

At midday, the ASX Materials sector was up 6.34%, while Mammoth shares moved lower in the session. The Quarterly Report is not linked to the 5 November price move, and the company's release does not explain the day's movement.

What to watch ahead

Investors will be following the multi-element assays from Blue Dick, which are due in the December quarter, and any further results from Imperial and the Buster Gold Trend.

Risks

Drilling results can vary between holes, and rock chip and grab samples are selective and may not represent wider grades. Assays from Blue Dick are still pending, so the drilling outcome is not yet known. The shares are low-priced and can be volatile.

Final Word

Mammoth has completed a drilling program along the Buster Gold Trend and begun maiden drilling at Blue Dick. The share price fell during the session, and the December quarter assays will be the next key data point.

FAQs

Q: Why did Mammoth Minerals shares fall on 5 November 2026?

A: Shares traded at A$0.025, down 7.41%, during the session. The quarterly report is not linked to the price move.

Q: What did the Buster Gold Trend drilling show?

A: Results included 10.67 metres at 3.76 g/t gold from 198.2 metres, including 4.6 metres at 6.86 g/t gold.

Q: When are the Blue Dick assays due?

A: Multi-element assays are awaited, with results expected in the December quarter.

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