Masivo Signs Option Agreement for The Cerro Colorado Project

Core Viewpoint - Masivo Silver Corp. has signed an agreement to acquire the Cerro Colorado Gold, Copper, and Silver project in Sonora, Mexico, marking a significant milestone for the company as it prepares to initiate drilling operations [1][2]. Acquisition Details - The agreement involves Masivo Silver Corp. acquiring the Cerro Colorado project from Jorge Rafael Gallardo Romero and Minera GoldZone S.A. de C.V. [1] - The project is strategically located 28 kilometers from Alamos, Sonora, and 11 kilometers from the Piedras Verdes open pit copper mine [1]. Financial Commitments - Upon signing the definitive agreement, Masivo will issue 300,000 shares and commence discussions for an eight-hole drill program [2]. - Payments are structured over four anniversaries, starting with $60,000 USD and escalating to $100,000 USD by the fourth anniversary, alongside options for additional shares [3][4]. Project Specifications - The Cerro Colorado project consists of two properties: El Tacon Dos (Cerro Colorado) covering 774 hectares and Valle Del Cobre covering 1,875 hectares [6]. - Masivo Silver is responsible for environmental impacts and all duties and taxes related to the mining concession during operations [6]. Drilling Program - The drilling program is being designed by senior geologists and is expected to commence in May 2025, utilizing a $75,000 USD drill credit [7]. - Historical samples from the project have shown high assay values, including 2,200 g/t Ag and 4.57 g/t Au, indicating significant mineralization potential [8]. Sample Analysis - Recent assays from various locations within the project have returned notable values, such as 1,840 g/t Ag and 4.8 g/t Au from a selective sample [9]. - Surface sampling has shown values ranging from 12 to 561 g/t Ag, confirming the presence of mineralization consistent with the nearby Piedras Verdes Project Mine [11].