The Conversation (0)
Masivo Silver Corp. (TSXV: MASS,OTC:GNYPF) (OTC Pink: GNYPF) ("Masivo" or the "Company") reports that ongoing field operations at its newly optioned Cerro Colorado Project in Sonora, Mexico, will significantly ramp up with field crews, drill crews and equipment mobilizing to the project preparation for its 1500 meters Phase I drill program.
With environmental approvals in place and private property access agreement, current activities include rehabilitation of access routes, construction of drill pads, and site preparation required to support drilling. These steps represent the final stages of preparation prior to commencement of drilling.
Project Advancement Highlights and Ongoing Field Activities
- Masivo is currently undertaking the following activities at Cerro Colorado:
- Mobilized field crews, drill crews and required equipment to site
- Rehabilitation of access routes to priority target areas
- Construction of drill pads for the Phase I program
- Secured drilling contractors and water-supply infrastructure
- Finalizing logistics to support continuous drilling
The Phase I drill program has been designed to test a number of priority targets identified through surface sampling, geological mapping, and review of historical data. The Company's initial drill program is designed to test targets with strong potential for a silver discovery.
Historical Sampling Highlights and Geological Context
Historical records from the Consejo de Recursos Naturales No Renovables (now the Servicio Geológico Mexicano- SGM) document high grade Silver, Gold and base metal values from underground workings on the property.
A historical sample reportedly collected in November 1972 by Ing. Adalberto Vázquez P. from, what is now a collapsed tunnel, on the main mineralized structure returned values of 2,200 g/t silver (Ag) and 4.57 g/t gold (Au).
Approximately 400 meters northeast, a second historical sieve sample taken from mine dump material associated with another collapsed tunnel on the same concession reportedly returned values of 1,840 g/t silver (Ag), 4.8 g/t gold (Au), 3.06% copper (Cu), 4.5% lead (Pb) and 2.92% zinc (Zn).
These historical samples are selective in nature and may not be representative of broader mineralization. However, they provide geological context and support the presence of a multi-metal mineralizing system, which has informed current target selection.
Management Commentary
David Coburn, President and CEO of Masivo Silver Corp., commented:
"We are excited to launch our maiden drill program at Cerro Colorado. After significant effort compiling historical information, completing detailed geological mapping, and carrying out systematic sampling, we have selected what we believe are the most geologically compelling targets. There is scale potential as seen with the historical sampling over a large mineral system footprint. The upcoming drill program is designed to test these targets for the potential to make a Silver discovery."
Senior Geologist Jorge Rafael Gallardo added:
"The historic samples at Cerro Colorado clearly demonstrate that this is a productive mineral system capable of returning high grades over a significant footprint . While these results are selective and historical in nature, they provide invaluable geological insight and strongly support our current targeting strategy. We are confident that the upcoming drill program is designed to properly evaluate the scale and continuity of this mineralized system."
Technical Oversight
The Phase I drill program has been designed and will be carried out under the supervision of Jorge Rafael Gallardo, Senior Geologist, together with Mark Bailey, P.Geo., and Brian Brewer, P.Geo., who is the Qualified Person as defined under NI 43-101 and has reviewed and approved the technical content of this news release.
Stock Option Grant
The Company has granted 2,550,000 stock options to directors, officers, and consultants. The options are exercisable at $0.085 per share for a period of five years, in accordance with the Company's stock option plan and applicable regulatory policies.
About Masivo Silver Corp.
Masivo Silver Corp. is a Canadian junior exploration company focused on the acquisition, exploration, and advancement of Gold, Silver, Copper and base metal projects in Mexico and Nevada (USA). The Company's current portfolio includes the Cerro Colorado Property in Sonora, Mexico, and the Boston Mine Project in Nevada.
For additional information, please visit www.masivosilver.com.
For further information, please contact:
David Coburn
Chief Executive Officer
Masivo Silver Corp.
Phone: +1 (602) 315-1231
Email: davidcoburn@masivosilver.com
Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider 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/280539
