- Masivo Silver Corp. (MASS) informs of a non-brokered private placement for up to C$750,000
- Proceeds will be used to complete the 10-hole drill program at the Boston and Montgomery mines in Nevada
- In March, the company completed the drilling of the first hole
- Masivo Silver is a Canadian junior silver and gold mining company, based in Vancouver, B.C. focused on exploration projects in Mexico and Nevada
- Masivo Silver Corp.(MASS) is unchanged on the day trading at C$0.15
Masivo Silver Corp. (MASS) announced a non-brokered private placement in the capital of the company at C$0.13 per unit of up to C$750,000.
Each unit consists of one common share and one non-transferable common share purchase warrant at C$0.20 to purchase an additional common share for three years from closing.
Proceeds will be used to complete the 10-hole drill program at its Boston and Montgomery mines in Nevada.
Earlier, in March, the company had completed the drilling of the first hole.
Brian Brewer, Masivo Silver’s Qualified Person and Advisor states the results. “We drilled 55 feet of one percent copper about one and a half grams of gold and almost one ounce of silver.”
Brewer specifies, that within the 55 feet, “Several intervals of around 5 feet of close to 3 percent copper and almost 3 grams of gold and up to almost 3 grams of silver.”
The results from the first hole will be informing the drill program moving forward.
In regards to the raise, CEO David Coburn stresses the value of its tight share structure, low market cap, and the involvement of key shareholders including Eric Sprott and Ernesto Echavarria.
In addition to its Nevada mines, Masivo has a 300-ton Gravimetric and Flotation Mill in the State of Nayarit, Mexico.
The mill is for sampling materials for independent public and private mining companies. The company has also started servicing and upgrading its equipment at its facility.
About Masivo Silver
Masivo Silver is a Canadian junior silver and gold mining company, based in Vancouver, B.C.
It is currently focused on exploration projects in the El Colomo Mining District in Sierra Madre’s ‘Golden Corridor’ in Mexico and at the Boston and Montgomery mines in the State of Nevada.
Masivo Silver Corp.(MASS) is unchanged on the day trading at C$0.15.
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