Business
Magellan Announces Restart of SDA Mill
Magellan Announces Restart of SDA Mill.
About this update from Magellan Copper And Gold Corp.
[{"type":"text","content":"\n\n\n\nMagellan Announces Restart of SDA Mill\n\n\n\n\n\nMagellan Announces Restart of SDA Mill\nPR Newswire\nRENO, Nevada, March 5, 2018\n\n\n\nRENO, Nevada, March 5, 2018 /PRNewswire/ --\n\nMagellan Gold Corporation (OTCQB: MAGE) ('Magellan' or 'the Company') announced that it has rehired employees and is restarting its 100% owned SDA Mill, Nayarit State, Mexico. Initially, operations will reprocess tailings located at the mill site. The tailings are waste products left from previous processing of ore but still contain low values of gold and silver. Recovery of a portion of these remaining precious metals is expected to defray holding costs of the mill while new ore sources are acquired. The mill last operated in November 2017 and processed third-party ore on a toll basis. The Company completed acquisition of the SDA Mill in November 2017.\n\n\"The reprocessing operation will offset holding costs and allow the mill to remain in a fully operational status,\" said Pierce Carson, CEO. \"Meanwhile, we are continuing to focus on securing sources of high-grade gold and silver ore that can be trucked to the mill for processing. We are close to being able to announce the acquisition of an attractive property that will allow us to resume mining operations, build production and increase cash flow.\"\n\nAbout Magellan Gold Corporation \n\nMagellan Gold Corporation (OTCQB: MAGE) is a US public enterprise focused on the exploration and development of precious metals. In November 2017, Magellan completed the purchase of the SDA Mill in the State of Nayarit, Mexico. Magellan also owns an advanced silver exploration property located in Arizona.\n\nThe SDA Mill is a fully operational flotation plant that also includes a precious metals leach circuit and associated assets, licenses and agreements. The mill has the capacity to process ore at a rate of up to 200 tons per day. The mill has a ten-year operating history. Historically, its operation has been based on sales of flotation concentrates to smelters, and payment for precious metals content. The mill lies within the rich Sierra Madre Occidental mineralized belt, which historically has yielded millions of ounces of precious metals and offers multiple high-grade gold and silver epithermal vein opportunities.\n\nThe Company's 100% owned Silver District Property in southwest Arizona compr...