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Magma Silver ( (TSE:MGMA) ) just unveiled an announcement.
Magma Silver Corp. has obtained a drill permit for the Joramina zone within its Niñobamba silver-gold project in Peru, marking a significant milestone for the company. The permit, granted by the Peruvian Ministry of Energy and Mines, allows for extensive drilling operations, which are expected to validate previous findings by Newmont Corporation. With a recent $5 million private placement, Magma is well-positioned to expand its exploration efforts, potentially enhancing its resource estimates and strengthening its market position in the precious metals sector.
More about Magma Silver
Magma Silver Corp. is a natural resources exploration company focused on acquiring, exploring, developing, and operating precious metal mining projects. It is listed on the TSX Venture Exchange, OTCQB, and Frankfurt Exchange. The company’s primary focus is on the Niñobamba silver-gold project in Peru, which is located in a prolific geological belt known for its high-sulphidation epithermal system. Magma Silver is leveraging modern geological modeling and strategic development plans to advance this project, supported by strong local community relationships and a regional technical team with extensive mining experience.
Average Trading Volume: 425,755
Technical Sentiment Signal: Buy
Current Market Cap: C$8.6M
For an in-depth examination of MGMA stock, go to TipRanks’ Overview page.