Woolly mammoths could be walking the Earth again in as little as 4 years, according to a Japanese scientist. A technique pioneered in 2008 successfully cloned a mouse from the cells of a mouse frozen for 16 years, and the professor believes he can use the same technique to resurrect the mammoth, which has been extinct for 5,000 years.
"Now the technical problems have been overcome, all we need is a good sample of soft tissue from a frozen mammoth," the professor tells the Telegraph. He plans to travel to Siberia this summer to search for mammoths in the permafrost. When a suitable sample is found, he aims to use an elephant for the surrogate mother. He estimates the elephant can be impregnated within two years, followed by a 600-day gestation period.
If they are able to extract usable DNA from the mammoth then I don't see why it isn't at least a possibility. I don't know any of the details of this experiment though.