Vancouver, British Columbia--(Newsfile Corp. - February 28, 2025) - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) ("Masivo" or the "Company"). Per Masivos communication with CIRO, they have requested further clarification on some details per the Masivo Silver News Release dated 02-26- 2025 the re-issue of the News Release should be as follows:
Masivo Silver is pleased to announce the signing of a non-binding LOI to acquire a Gold, Silver and Copper project in the state of Sonora, 28 KM northwest of Alamos, Sonora and 11 KM north of one of the largest private Mexican open pit copper mines in Mexico called Piedras Verdes. This is an arms length non-binding transaction with Minera GoldZone S.A. de C.V. and partners was signed on 02-22-2025. This LOI will become binding within the next 2 or 3 weeks upon the completion of due diligence. There are no material terms to be announced at this point but we expect to announce in the very near future.
The Cerro Colorado Sonora project contains 2 mineral concessions, the El Tacon Dos (Cerro Colorado) concession with 774 Hectares (1911 Acres) and the Valle del Cobre concession with 1875 Hectares (4631 Acres).
The company has completed a program of mapping and sampling, soil geochemistry and a geophysics program - induced polarization in an area of 1200 meters long by 200 meters wide where brecciation with phyllic alteration, mainly sericite and iron oxides, is observed.
In the southwest part of the project, in an old collapsed tunnel in the main structure a historical sample taken from the mineralized zone returned 2200 g/t Ag and 4.57 g/t.Au. This historic sample comes from source: "Consejo de Recursos Naturales No Renovables" (Now Servicio Geológico Mexicano) according to report, this sample was taken on November 1972 by Ing. Adalberto Vazquez P.
Four hundred meters to the NE of the high grade sample in another collapsed tunnel were a selective sample of the old dumps in this mineral concession was assayed and returned values at 1840 g/t Ag, 4.8 g/t Au, 3.06% Cu, 4.5% Pb and 2.92 % Zn, this was a selective sample and may not represent underlying mineralization.
One hundred meters to the northwest from the old dump a hand-made trench was opened obtaining surface samples with strong anomalies that returned 7.2 meters true-wide with 0.75g/t Au, 159 g/t Ag, 0.24% Cu, 0.52 % Pb, 0.29% Zn , these anomalous values confirm the same geochemical sign of the polymethalic mineralization in sulfides found below the surface in the old workings in the leached zone of the breccia outcrop.
Hermosillo,On the surface, the alteration zone is heavily leached; multiple box works of different types of sulfides that were leached are clearly observed. Surface sampling returned values of between 12 to 561 g/t Ag and anomalous values of Gold and Copper. This mineralized area falls on the same trend as the Piedras Verdes mining project, all these mentioned surface samples, trench and dump samples taken in rock chips and channel, were sent to ALS CHEMEX in Sonora, the pulps were analyzed by ALS CHEMEX in Vancouver with the labs strict QA/QC.
Quote from Mexican Senior Geologist Rafael Gallardo, "This is a project with an excellent target that has never been drill-tested at depth, I am happy we are finally ready to move forward, we hope to find similar polymetalic values at depth where a high chargeability anomaly was detected 80 meters below the surface."
Rafael Gallardo is a Senior Geologist with 40 years of experience in exploration, he has been a consultant for Minera Cascabel since 1992, he is currently Senior Exploration Manager of Infinitum Copper Inc.
David Coburn says, "The Masivo technical team lead by Mark Bailey and Brian Brewer QP have been collaborating with the Mexican Geological team led by Rafael Gallardo on the Cerro Colorado drill program. The Masivo team feels that this will be a perfect complement to the Boston Mine project in Nevada which can have some challenging weather in the winter months. The terms of the Cerro Colorado project has very favorable terms and eliminates up front cash risk for our shareholders."
Masivo's QP Brian Brewer has taken some personal time off and is now on his way back to the Boston Mine project, we should expect drill results in the near future.
A series of 8 drill holes are being modeled by Mexican Senior Geologist Rafael Gallardo. Masivo will use its $75,000 drill credit with a Mexican Drill company for this drill program.
Disclaimer: Surface grab samples are selective samples and assay results may not necessarily represent true underlying mineralization
Qualified Person
Brian Brewer, PGeo, is Masivo Silver's qualified person for the company's projects in Mexico and Nevada 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 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, Tel: +1 (602) 315-1231.
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/242901
SOURCE: Masivo Silver Corp.
