Business
Masivo Signs Option Agreement for The Cerro Colorado Project
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - Masivo Silver Corp.  (TSXV:...
About this update from Masivo Silver Corp.
[{"type":"text","content":"Masivo Signs Option Agreement for The Cerro Colorado ProjectVancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - Masivo Silver Corp. (TSXV: MASS) (OTC Pink: GNYPF) (\"Masivo\" or the \"Company\") is pleased to announce that on April 1, 2025 it completed the signing of an arms-length agreement to acquire the Cerro Colorado Gold, Copper and Silver project in the state of Sonora, Mexico with Jorge Rafael Gallardo Romero, Minera GoldZone S.A. de C.V. and partners. This project is located 28 kilometres from the city of Alamos, Sonora and 11 kilometres north of the Piedras Verdes open pit copper mine, one of Mexico's largest.\"With the option agreement signed and all necessary permits already in hand. We are fully prepared to move forward,\" said David Coburn, CEO of Masivo Silver. \"The drill targets are being carefully defined, being prioritized, and we are mobilizing immediately to begin drilling these high-grade silver zones. This is a significant milestone for the Cerro Colorado Project, and we are excited to start unlocking its full potential.\"Masivo Silver Corp and Minera Goldzone agreed on:Upon signing the definitive agreement, Masivo Silver Corp will grant 300,000 shares and begin discussions with the exploration team for an eight-hole drill program at Cerro Colorado.Upon the first anniversary of completing the eight-hole drill program, Masivo will pay $60,000 USD and a second payment of either 1,000,000 Masivo shares or $100,000 USD.Upon the Second anniversary Masivo will pay $70,000 USD and a second payment of either 1,500,000 Masivo shares or $150,000 USD.Upon the third anniversary Masivo will pay $80,000 USD and a second payment of either 2,000,000 shares or $200,000 USD.Upon the fourth anniversary Masivo will pay $100,000 USD and a second payment of either 2,500,000 shares or $250,000 USD.Where in each selection between shares and cash, Masivo can further elect to settle a cash election using shares based on a 10-day weighted average share price formula calculating the number of shares issued. The 10-day weighted average price would begin 15 trading days before the anniversary date and end 5 trading days before the anniversary date.Upon the 48-month anniversary and all commitments between Masivo Silver Corp and Minera Goldzone and Partners involved have been met at 100%, the concession title an...