Vancouver, British Columbia, April 1, 2024 - Masivo Silver Corp. (“Masivo” or the “Company”) (TSXV: MASS) (OTC:GNYPF) is pleased to announce that it will resume drilling at the Boston Mine, a high-grade gold, silver and copper project in “Elko County” in the State of Nevada in the month of April. The property was previously in production pre-World War II where it produced high grades of gold, silver and copper.
“With Precious Metal prices continuing to move consistently higher and our pre-World War II production numbers being 25.7 g/t Au (gold), 2,880 g/t Ag(silver), and 3.2% Cu (copper), as well as a $100,000 drill credit in Mexico we are very excited about the drill programs.”Commented David Coburn, President and CEO.
Results from the first drill hole indicate that Masivo´s geological model and projected target zones appear to be accurate. The hole encountered two projected mineralized zones. Significant drill intercepts include 55 feet (drilled width) of 0.99% Cu, 1.52g/t Au and 30.35 g/t Ag starting at 65 feet down hole.
Masivo´s exploration team has drilled hole number 2 to a depth of 280 feet and the technical team has approved a 150-foot extension on this hole to test additional projected mineralized targets.
Nevada Drill Program Highlights:
The Boston Mine area drilling program will be comprised of 8 holes totaling approximately 1,000 meters to test the main mineralized zones, as well as historical Induced Polarization (IP) anomalies.
- Boston Mine patent – 4 holes will test historic mineralization including the pre-World War II high-grade producing area. An additional report stated that there was a six-inch vein at this same depth that assayed 10,885 g/t Ag (i.e. more than 1%). These reports are not compliant with NI 43-101 reporting standards and all numbers quoted should be considered as historic.
- IP anomalies - At least four holes are planned to test historical IP anomalies that are interpreted to reflect sulfide mineralization that is part of the skarn geology. Based upon the results, a decision will be made as to expanding the IP survey over the rest of the property.
Masivo is currently evaluating and negotiating with several mining companies to toll process ore at its 300 ton-per-day processing facility in the State of Nayarit, Mexico.
Masivo plans to do an equity financing in order to raise up to $500,000 to fund the drill program and for general working capital. The non-brokered private placement would be comprised of Units priced at $0.05 per Unit and consisting of one common share and one full warrant. Each warrant would be exercisable at a price of $0.15 for a term of two years.
Masivo has a $100,000 drill credit with its previous drill company in Mexico and is analyzing different drill opportunities at its Mexico properties as well as several new properties that have been presented to Masivo in 2024.
Masivo announces the resignation of Thomas Quigley as a Director of the Company. Mr. Quigley will continue working with the Company as a technical advisor.
About Masivo Silver Corp.
Masivo is a Canadian junior silver and gold mining exploration company based in Vancouver, Canada. Masivo is currently focused on advancing its exploration projects in the State of Nevada, US, and in the State of Sinaloa, Mexico. The Company’s mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day. Additional information on Masivo’s current operations is available on the Company’s website at www.masivosilver.com or email davidcoburn@masivosilver.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“David Coburn” Chief Executive Officer
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
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