Key highlights

  • Mammoth Minerals shares were down 8.00% at $0.023 during the 10 November 2026 trading session.
  • RC drilling across the Buster Gold Trend returned 10.67 metres at 3.76 g/t gold from 198.2 metres, including 4.6 metres at 6.86 g/t.
  • Rock chip sampling at the Imperial Prospect returned silver grades of up to 1,631 g/t.

Mammoth Minerals Ltd (ASX:M79) fell 8.00% to $0.023 during the 10 November 2026 trading session. The S&P/ASX 200 was higher by 1.34%, or 121.20 points, at 9,150.90 over the same session. Mammoth is a gold and base metals explorer working on several prospects, including Buster, Blue Dick and Imperial. Its latest update was its quarterly activities report for the period ending 30 September 2026, which set out drilling and sampling results across the project.

Buster Gold Trend drilling

The company completed a Reverse Circulation Drilling program across the Buster Gold Trend. Results included 10.67 metres at 3.76 g/t gold from 198.2 metres, including 4.6 metres at 6.86 g/t, and 22.9 metres at 1.37 g/t gold from 10.7 metres, including 3 metres at 4.15 g/t.

The company said the drilling confirmed shallow gold mineralisation about 700 metres along strike from the Buster prospect.

Blue Dick and Imperial

A maiden RC program at the Blue Dick Prospect has completed 23 holes, with multi-element assays still awaited. The company expects results in the December quarter, and the high-grade samples from Blue Dick are defining priority targets for that drilling.

Rock chip and grab sampling at the Imperial Prospect returned gold, silver, copper and base metal results beyond historic workings, including 22.1 g/t gold and silver grades of up to 1,631 g/t.

Sector context

Exploration companies in the Australian gold sector are assessed on the continuity of their intercepts and the scale of their targets. Silver-rich rock chip results can attract attention, but they are selective samples and not a measure of the whole system. At about two cents, Mammoth trades in Penny Stock territory, and the broader market was higher during the session.

Risks

Rock chip and grab samples are selective and may not represent broader grades. Assays from the Blue Dick program are still pending, and results may differ from the high-grade samples.

The company needs to convert the intercepts into a defined zone of mineralisation through further drilling, which requires funding.

What to watch ahead

Investors will be looking for the Blue Dick assays expected in the December quarter, follow-up work at Buster and the next steps for the Imperial Prospect.

Final Word

Mammoth's Trading session fall came after a Quarterly Report that covered drilling progress and high-grade surface samples. Blue Dick's assay results will be the next key marker for the project.