Masivo Announces Drill Program at Cerro Colorado

Rhea-AI Summary

Masivo Silver Corp (TSXV: MASS) (OTC Pink: GNYPF) has announced the completion of its strategic drill program design at the Cerro Colorado property in Sonora, Mexico. The program consists of eight holes totaling 1,300 meters, designed by Senior Mexican Geologist Jorge Rafael Gallardo with guidance from P.Geo Brian Brewer and P.Geo Mark Bailey.

The program includes multiple drill holes targeting various depths and objectives:

• Hole A (130m depth) targets polymetallic sulfides corresponding to high chargeability anomalies
• Hole B (150m depth) aims to test high-grade values previously identified (1,840 g/t silver, 4.82 g/t gold, 3.06% copper)
• Holes C, D & E (150-200m depth) will test high chargeability anomalies
• Holes F & G (150-300m depth) will examine mineralized structure continuity
• Hole H (120m depth) targets a secondary structural system with previous high-grade values exceeding 20 g/t gold

Positive

• Property shows high-grade historical mineral values: 1,840 g/t silver, 4.82 g/t gold, 3.06% copper
• Two distinct structural systems identified, potentially creating high-grade mineralization zones
• Multiple high chargeability anomalies detected through geophysics program

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - April 24, 2025) - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) ("Masivo" or the "Company") is pleased to announce the completion of its strategic drill target program design at the Cerro Colorado property, located in Sonora, Mexico. An eight-hole, 1,300-meter drill program was designed by Senior Mexican Geologist Jorge Rafael Gallardo, with guidance from P.Geo Brian Brewer and P.Geo Mark Bailey.

CEO David Coburn commented: "We're thrilled to launch our highly anticipated drill program at Cerro Colorado. With an exceptional technical team-Mark Bailey, Brian Brewer, and Jorge Rafael Gallardo-who bring a proven history of success in the region, we're confident this program will unlock significant value and advance our understanding of the property's potential."

Masivo's drill program will include:

Hole A

Hole A targets a depth of 130 meters, with the objective of hitting a zone of polymetallic sulfides that may correspond to an anomaly of high chargeability found in the geophysics program or induced polarization ("IP") at a depth of 100 meters below surface. There is strong potential for significantly higher values of silver (Ag), gold (Au), copper (Cu), lead (Pb), and zinc (Zn).

HOLE B

This hole is planned approximately 500 meters northeast of Hole A, targeting a depth of 150 meters. The objective is to test a high chargeability anomaly and follow up on high-grade values identified in sulfide material from the dumps of historic mine workings, which returned assays of 1,840 g/t silver (Ag), 4.82 g/t gold (Au), 3.06% copper (Cu), 4.55% lead (Pb), and 2.92% zinc (Zn).

Holes C, D & E

These holes are planned between Holes A and B, with the objective of testing the high chargeability anomaly within the same mineralized structure. Hole C and E are designed to reach a target depth of 150 meters, while hole D is planned to extend deeper to 200 meters.

Holes F & G

These holes are planned to reach depths of 150 to 300 meters northeast of Hole B. Their objective is to test the high chargeability anomaly and assess the continuity of the mineralized structure along a well-defined southwest-to-northeast (SW-NE) trend.

Holes H

This hole is oriented in a different direction, targeting a southeast-to-northwest (SE-NW) structural system that is perpendicular to the main southwest-to-northeast (SW-NE) trend.

This secondary structural system hosts a gold-copper-silver (Au-Cu-Ag) mineralization style, observed in several near-surface artisanal workings developed by local "Gambusinos." These small-scale mines have returned high-grade values, including over 20 g/t gold (Au), 95 g/t silver (Ag), and 0.8% copper (Cu). The planned depth for these holes is 120 meters.

Cerro Colorado Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7866/249630_3cfb2e3954ba6acc_001full.jpg

Senior Mexican Geologist Jorge Rafael Gallardo commented:

"It's extremely exciting to identify two distinct structural systems on the property-one controlling Ag-Au-Cu-Pb-Zn mineralization and the other hosting Au-Cu-Ag. The intersection of these structures has the potential to create highly fractured and porous zones, ideal pathways for mineralizing fluids. These conditions significantly enhance the potential to discover high-grade 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 or phone: +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/249630

FAQ

What are the key objectives of Masivo Silver's (GNYPF) Cerro Colorado drill program?

The program aims to test high chargeability anomalies, explore polymetallic sulfides zones, and examine two distinct structural systems controlling Ag-Au-Cu-Pb-Zn and Au-Cu-Ag mineralization across eight strategic drill holes.

What are the significant historical mineral grades found at GNYPF's Cerro Colorado property?

Historical mine workings showed high-grade values of 1,840 g/t silver, 4.82 g/t gold, 3.06% copper, 4.55% lead, and 2.92% zinc, with some artisanal workings yielding over 20 g/t gold.

How many drill holes and meters are planned in GNYPF's Cerro Colorado program?

The program consists of eight drill holes totaling 1,300 meters, with individual holes ranging from 120 to 300 meters in depth.

What are the two structural systems identified at GNYPF's Cerro Colorado property?

The property features a SW-NE trending system controlling Ag-Au-Cu-Pb-Zn mineralization and a SE-NW system hosting Au-Cu-Ag mineralization.