09:45:01 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Masivo Silver Corp (2)
Symbol MASS
Shares Issued 21,907,487
Close 2023-05-15 C$ 0.155
Market Cap C$ 3,395,660
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Masivo Silver to resume drilling at Boston

2023-05-15 11:14 ET - News Release

Mr. David Coburn reports

MASIVO TO RESUME DRILLING WITH UPSIZED PROGRAM

Masivo Silver Corp. will resume drilling operations at the Boston mine project in Nevada where the company has successfully completed its first hole targeting and encountering two projected parallel mineralized zones where significant copper-gold-silver values related to skarn mineralization with strong calc-silicate alteration along with locally pervasive copper sulphide (bornite) mineralization were encountered .

Masivo ceased drilling operations due to the significant winter snow conditions and are preparing to resume now that the project is more readily accessible. All drilling equipment remain on site which will allow for an expedited restart to the drilling program.

Masivo's exploration team has drilled hole No. 2 to a depth of 280 feet and the technical team has approved a 150-foot extension of this hole to test additional projected mineralized targets. Initial drilling was designed to test extensions of the pre-World War II resources. Upon completion of drilling holes No. 2, 3 and 4 in the Boston mine area, Masivo will move onto drilling the Montgomery tunnel target area where historical results include five feet at 26.19 parts per million (ppm) gold (Au), 59.31 ppm silver (Ag) and 1.81 per cent copper (Cu) (RC hole CON-3) and a three-foot channel sample at 29.49 ppm Au, 169.03 ppm Ag and 3.9 per cent Cu (sample 83770).

Brian Brewer, the qualified person for Masivo, stated: "I am excited to resume drilling and complete this first phase drill program comprising 10 holes. This will give us great insight to the mineralized structure that has a strike length of 7.5 kilometres and has previously returned high-grade production."

Masivo is currently raising up to $750,000 at 13 cents per unit in a non-brokered private placement, with each unit consisting of one common share and one non-transferable common share purchase warrant at 20 cents to purchase an additional common share for three years from closing.

Masivo filed for price preservation for up to 5.7 million units at 13 cents per share with a warrant attached at 20 cents per term of three years.

Mr. Brewer, PGeo, is Masivo Silver's qualified person for the company's projects in Nevada and Mexico and has approved this news release.

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 Nevada, United States, and in Sinaloa, Mexico. The Nevada projects are located in the highly prolific mining district of Elko county, covering approximately 543 hectares (1,342 acres), consisting of 65 unpatented land claims, including the historic Boston mine.

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