Masivo Successfully Drills Hole Number 5 at Promising Skarn Deposit

Rhea-AI Summary

Masivo Silver Corp. (TSXV: MASS, OTC Pink: GNYPF) announced the completion of drilling Hole No. 5 at the Boston Mine project in Elko County, Nevada, targeting a high-grade Gold/Copper Skarn deposit. The 322-foot drill core will be analyzed in a certified lab, with results expected in 6-8 weeks. Drilling of Hole No. 6, aiming for a depth of 300 feet, will commence next week to test historical IP anomalies indicative of sulfide mineralization. Previous drilling (Hole No. 1) yielded significant intercepts, including 55 feet of 0.99% Cu, 1.52 g/t Au, and 30.35 g/t Ag. Phase 1 consists of 6-8 holes, with a potential Phase 2 involving 8-10 additional holes. Masivo holds a $75,000 drill credit in Mexico and is exploring opportunities in Mexico and the USA to complement the Boston Mine project, allowing for winter drilling. Assay results for Holes 2, 3, and 4 are pending.

Positive

• Completion of Hole No. 5 at 322 feet targeting high-grade Gold/Copper Skarn deposit.
• Significant intercepts from Hole No. 1: 55 feet of 0.99% Cu, 1.52 g/t Au, and 30.35 g/t Ag.
• Phase 1 drill program includes 6-8 holes with a follow-up Phase 2 of 8-10 holes.
• $75,000 drill credit in Mexico offers winter drilling opportunities.

Negative

• Pending assay results from Holes 2, 3, and 4.

Vancouver, British Columbia--(Newsfile Corp. - September 27, 2024) - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) ("Masivo" or the "Company") is pleased to announce that it has completed hole No. 5 at 322 feet at the Boston Mine project in Elko County, Nevada where Masivo is targeting its high grade Gold/Copper Skarn deposit. The drill core will be delivered to the certified lab for analysis this week and we expect results in 6-8 weeks.

The commencement of drilling Hole No. 6 will begin early next week where Masivo is targeting a depth of 300 feet. The objective of Hole No.6 is to test the strong 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.

Hole No.1 had significant drill intercepts including 55 feet (drilled width) of 0.99% Cu, 1.52 g/t Au and 30.35 g/t Ag starting at 65 feet down hole.

Phase 1 drill program will be between 6-8 holes with the follow up of a Phase 2 Drill Program of an additional 8-10 holes.

The technical team has started discussions on a Phase 2 drill program, several new target areas are being discussed per the assay results on the Phase 1 program, we have not received assay results from Hole 2,3 or 4 but are expected in the near future.

Masivo holds a $75,000 drill credit in Mexico and is continuing to discuss significant opportunities in Mexico and the USA to compliment the Boston Mine project. The Mexico projects would allow Masivo to drill in the winter months as the Boston mine can be challenging with winter storms.

"We are making great progress drilling here at the Boston mine and looking forward to assay results." Commented David Coburn, President & CEO of Masivo Silver Corp.

Brian Brewer, PGeo, is Masivo Silver's qualified person for the company's project 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 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/224799

FAQ

What is the latest update on Masivo Silver Corp.'s GNYPF drilling activities?

Masivo Silver Corp. completed drilling Hole No. 5 at the Boston Mine project, with the drill core being analyzed. Results are expected in 6-8 weeks.

What were the results from Hole No. 1 at Masivo Silver Corp.'s Boston Mine project?

Hole No. 1 at the Boston Mine project showed significant intercepts, including 55 feet of 0.99% Cu, 1.52 g/t Au, and 30.35 g/t Ag.

When will Masivo Silver Corp. begin drilling Hole No. 6?

Drilling of Hole No. 6 at the Boston Mine project will begin early next week.

What is the depth target for Hole No. 6 at Masivo Silver Corp.'s Boston Mine project?

The depth target for Hole No. 6 is 300 feet.

What are the future drilling plans for Masivo Silver Corp. at the Boston Mine project?

Masivo plans a Phase 2 drill program with 8-10 additional holes, following the current 6-8 holes in Phase 1.