09:45 AM EST - Magma Silver Corp. : Announced the granting of a drill permit to allow drilling on the Joramina zone and also provides an outline of a proposed exploration plan on the advanced Niñobamba silver gold project in Peru. Stephen Barley, Chairman & CEO of Magma stated: "The Niñobamba project is comprised of three contiguous properties now controlled by Magma, totalling 4,100 hectares: the Joramina, Randypata, and the Niñobamba Main. The MINISTERIO DE ENERGÍA Y MINAS in Peru has granted a drill permit to commence drilling on the Joramina zone. This is an important milestone as drill permits are detailed and require a significant effort to obtain. Our Peruvian-based technical team, led by our General Manager, Carlos Agreda (see news release dated July 9, 2025) and supervised by our Senior Technical Advisor, Jeffrey Reeder, has the experience to apply for drilling permits successfully. The recent $5,000,000 private placement financing (see news release dated October 23, 2025) has provided Magma with the necessary funding to substantially increase the initial drill program on the Joramina zone. The Joramina zone was the focus of Newmont Corporation's 2011 non-compliant internal report, which detailed a significant gold and silver resource. The Newmont report was based on US$1,200/ounce gold and US$20/ounce silver, the prevailing market prices at the time of the report." Magma Silver Corp.
shares V.MGMA are trading unchanged at $0.26.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=MGMA%3ACA&qmodStoryID=7954851949184383
