Mashwa Minerals Ltd. Value to Rise After Latest Bear Mountain Project Test Drill Reports

Mashwa Minerals Ltd.'s value is set to rise after ‘extremely positive' test drill reports were recorded at their Bear Mountain project in Canada.

This latest drilling program, which totaled 26 drill holes, was completed in June and focused on 2 new areas at the site, named Waffle Ridge and Hammer Plains. The drill program was designed to test potential epithermal feeder systems at both of the areas named.

Drill hole MTM-011-24 at Hammer Plains intersected a high-grade interval of 17 metres averaging 12.78 grams of gold per ton, whilst drill hole MTM-005-24 at Waffle Ridge had results of 27.88 grams of silver per ton over an 11 meter interval.

Further test drill results of note from Waffle Ridge were drill hole MTM-016-24 with 14.26 grams of gold over 22 meters and drill hole MTM-019-24 with 15.17 grams of gold over 16 meters.

At Hammer Plains, drill hole MTM-004-24 yielded 21.44 grams of silver over 28 meters and drill hole MTM-012-24 showed 31.11 grams of silver per ton over 19 meters.

The company believes that these high-grade gold and silver mineralization zones extend further than where the test drills were performed and now intend to schedule a new test drill program in the second quarter of this year.

"Our recent results were extremely positive and has increased both the project's value and lifespan. We already forecast an extended lifespan of the project by some 5 to 7 years and an increase in production nearing 7 million Dollars, which will add considerably to our bottom line," said Mr. Philip Waterman, Director of Projects at Mashwa Minerals Ltd.

Mashwa Minerals Ltd. will report further to shareholders as and when the next program of test drill holes at the site have commenced.