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Madoro Metals Corp. has announced promising exploration results from its Yautepec project. Following the discovery of a 7-kilometer epithermal trend, the company identified a new skarn-hornfels area with significant mineralization. Preliminary rock chip samples showed values of up to 1,200 g/t silver and 3.97 wt% copper. The skarn complex may indicate a large, economically viable deposit. CEO Dusan Berka noted the potential this discovery holds for future mining opportunities. Additionally, the company acknowledged the retirement of board member Paul Smith, recognizing his 9 years of service.
Madoro Metals Corp. has filed for three additional mining concessions adjacent to its Yautepec Project in Oaxaca, Mexico. These new concessions, totaling 1,550 hectares, enhance exploration potential for gold, silver, and base metals. Madoro's exploration efforts have indicated a promising trend of epithermal and skarn alteration, similar to nearby producing mines. The company is awaiting assay results to further refine its drilling targets. Additionally, 1,500,000 stock options have been granted to officers and directors at $0.11 per share, vested over three years.
Megastar Development Corp. announces the effective date for its name and symbol change to Madoro Metals Corp. (TSXV:MDM) starting March 29, 2021. The company has not changed its capital structure. A new corporate website has been launched to provide investors with updated information on business activities and mineral assets. Additionally, Megastar has amended an option agreement with DeepRock Minerals, reducing the final cash payment and extending the deadline for payment regarding the Ralleau Property.
Megastar Development Corp. (OTC PINK:MSTXF) announced the resumption of exploration activities in Oaxaca after pandemic-related restrictions. The geologic team has identified new areas of interest showcasing favorable features akin to existing projects. Recent findings include ferruginous carbonate sinters and quartz veining at the Yautepec project, supporting the potential for significant Au-Ag mineralization. This expansion builds on earlier positive results and enhances the exploration drilling target list, indicating promising prospects for the company in the Au-Ag belt.
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