Visible Mineralization Allows Masivo to Extend Drilling Depth on Hole For The Third Time
Vancouver, July 16, 2024 - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) ("Masivo" or the "Company") is pleased to announce that after extending the hole target depth three times it has successfully completed drilling 456.05 Feet at hole BM-24-02 or better known as hole No.2 at the Boston Mine, Masivo's high-grade gold, silver and copper project in "Elko County" in the State of Nevada.
"Hole No.2 has shown very positive results, we are very pleased to have completed this hole after our technical team agreed to continue drilling the hole 100 feet beyond the expected depth thanks to the continuous visible high mineralization present on our drill core, this is what allowed us to extend the target depth 3 times, we are very excited to send our core to the lab for assaying," commented David Coburn, President & CEO.
The Drilling team is currently relocating all equipment on to hole BM-24-03 at the Boston Mine, the drilling of hole No.3 will begin by the end of the week or early next week.
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.
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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. These reports are not compliant with NI 43-101 reporting standards and all numbers quoted should be considered as historic.
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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.
Stock Options:
The Company has also issued 250,000 incentive stock options ("Options") to directors, officers, and advisors. Furthermore, the Company wishes to clarify that the Service Provider, Senergy Communications Capital Inc. and Aleem Fidai, does not hold 75,000 stock options as previously stated in the June 18, 2024 news release. This was an error, and this statement serves as a correction.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216741