Welcome to Magellan Gold Corporation
Magellan Gold Corporation (OTCQB: MAGE) intends to establish itself as a major player in the precious metals mining field. The Company’s goal is to produce significant cash flow from precious metals holdings while creating a portfolio of quality exploration and development projects that will ensure future revenue growth.
Magellan recently acquired an option to purchase the operating SDA Mill in the State of Nayarit, Mexico. The SDA Mill is a flotation plant with a precious metals leach circuit that has been in commercial operation for ten years. Acquisition of this facility will transform Magellan into a gold production company. Following the purchase, Magellan’s strategy is to increase production and build cash flow, which will make the Company self-supporting and provide the basis for future growth.
Magellan’s flagship advanced exploration project is its 100% owned district-scale Silver District Project in southwest Arizona. Historical drilling delineated 16 million ounces of silver plus fluorspar available for open pit mining. Potential for resource expansion is excellent and the Company intends to carry out additional drilling.
Magellan recently announced a 50% earn-in on the Niñobamba Silver/Gold Project in central Peru owned by Rio Silver Inc. (TSX.V: RYO). The project includes an extensive database comprising geological, geochemical, geophysical and drilling data and exhibits promising potential for discovery of large disseminated precious metals deposits. Initial drilling is planned for 2017.
With an exciting gold production facility in its sights, and two quality advanced silver exploration projects in its control, Magellan is poised for significant growth.
Magellan has a small but experienced management team capable of successfully executing the Company’s goals.