Masivo Silver Receives Final Approvals for Nevada Project

Rhea-AI Summary

Masivo Silver Corp. (OTC PINK:GNYPF) announced the receipt of final approvals for the Boston and Montgomery Mine projects in Elko County, Nevada. CEO David Coburn expressed satisfaction with the completion of the due diligence process, paving the way for the commencement of the drill program. The drill program aims to assess historic mineralization at the Boston Mine, where significant silver, gold, and copper grades were reported. The company is also focused on high-grade samples from the Montgomery Tunnel. The projects cover 543 hectares in a prolific mining district.

Positive

• Final approvals received for Boston and Montgomery Mine projects, enabling progress.
• Drill program to test high-grade mineralization with historical results indicating over 10,885 g/t silver.
• Significant surface samples collected from Montgomery Tunnel, enhancing exploration potential.

Negative

• No current financial data or projected timelines for revenue generation from the projects.

VANCOUVER, BC / ACCESSWIRE / November 17, 2021 / Masivo Silver Corp. ("Masivo" or the "Company") (TSXV:MASS)(OTC PINK:GNYPF) today announced it has received the final remaining approvals for the Boston and Montgomery Mine projects ("Projects") in Elko County, Nevada from Great Lakes Exploration Inc. ("GLE") and the TSXV as per the Definitive Agreement outlined in the May 26, 2021 press release.

"We are very happy that this entire due diligence process has been completed and the company can now move towards executing its drill program in this prolific mining district," stated David Coburn, CEO, Masivo Silver Corp. "We are currently in the late stages of permitting and look forward to announcing the drilling start date later this quarter."

Drill Program Objectives

• Boston Mine patent - Test historic mineralization in the mine shaft at a depth of 90 feet grading 2,880 grams per tonne silver (g/t Ag), 25.7 g/t gold (Au) and 32% copper (Cu). 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%)[1].
• Montgomery Tunnel - Drill under and adjacent to the Montgomery Tunnel, where numerous high grade surface samples with abundant visible gold (VG) have been collected. Channel samples taken by Masivo personnel have returned 29.5 g/t Au and 169 g/t Ag over 3 feet and 3.3 g/t Au, 89.8 g/t Ag and 3.1% Cu over 10 feet.

Geology Overview

The Projects covers about nine kilometers of prospective metamorphosed limestones containing silver, gold and copper stratabound skarn mineralization marginal to the contact of a Jurassic aged granodiorite intrusion. Mineralization consists of bornite, chalcopyrite and digenite with silver and gold in calc-silicate hornfels adjacent to faults and altered porphyry dikes, as well as replacement of favourable horizons adjacent to the granodiorite contact.

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. Massivo is currently focused on advancing its exploration projects in the State of Nevada, US, and in the State of Sinoloa, 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. In Mexico, Masivo's mining focus includes silver and gold exploration, development, and ore processing within an aggregate of 14,000+ hectares (35,000+ acres) strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western 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 and vision, is available on the Company's website at www.masivosilver.com or email info@masivosilver.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"David Coburn" Chief Executive Officer

For information, please contact the Company:

Phone: 602-315-1231

E-mail: info@masivosilver.com

Website: www.masivosilver.com

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[1] These reports are not compliant with NI 43-101 reporting standards and all numbers quoted should be considered as historic.

SOURCE: Masivo Silver Corp.

View source version on accesswire.com:
https://www.accesswire.com/673318/Masivo-Silver-Receives-Final-Approvals-for-Nevada-Project

FAQ

What recent approvals did Masivo Silver Corp. receive for GNYPF?

Masivo Silver Corp. received final approvals for its Boston and Montgomery Mine projects in Elko County, Nevada.

What are the objectives of the drill program for GNYPF?

The drill program aims to test historic mineralization at the Boston Mine and assess high-grade surface samples from the Montgomery Tunnel.

What mineral grades are reported from the Boston Mine project by Masivo?

Historic results from the Boston Mine include 2,880 g/t silver and 25.7 g/t gold at a depth of 90 feet.

How large is the area covered by Masivo's Nevada projects?

Masivo's Nevada projects cover approximately 543 hectares (1,342 acres).

What high-grade results were found in the Montgomery Tunnel?

Channel samples from the Montgomery Tunnel returned up to 29.5 g/t gold and 169 g/t silver over 3 feet.