Magellan Gold Corporation
Magellan Gold Corporation was formed and organized in September 2010 under the laws of the State of Nevada. We are an exploration stage company and our principal business is the acquisition, exploration and if warranted, development of mineral resources.
Magellan controls three projects: the SDA Mill, Mexico; the El Dorado Gold-Silver Project near the SDA Mill; and the Silver District Property, Arizona.
In November 2017, we completed the purchase of the SDA Mill in the State of Nayarit, Mexico. The SDA Mill is a fully-functional, permitted and staffed flotation plant with a precious metals leach circuit that has operated commercially for ten years. We anticipate that acquisition of this facility will be a key step in transforming Magellan into a gold production company. Magellan’s strategy is to develop ore feed from several nearby sources and to build production and cash flow. We believe that successful execution of this strategy will make the Company self-supporting and provide the basis for future growth.
In July 2018, we executed an option agreement to acquire the El Dorado Gold-Silver Project, located 50 kilometers south of the SDA Mill and within easy trucking distance. We believe the mineralized material identified in previous drilling has the potential to support a small-scale underground mining operation that could supply feed to the SDA Mill for several years. We have obtained quotes from mining contractors and are applying for the necessary permits to begin mining operations with the objective of initiating production in 2019.
Our flagship advanced exploration project is the 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.
With ownership of an exciting gold processing facility and control of an initial source of mineralized material to feed the plant, as well as ownership of an exciting advanced silver exploration project, Magellan is poised for significant growth.
Magellan has a small but experienced management team capable of successfully executing the Company’s strategy.