Business
Magellan Gold Enters Joint Venture Agreement With Gold Express Mines
The Companies are targeting a high-grade underground resource at the bottom of the past-producing Clear Creek Mine pit. WALLACE, ID / ACCESSWIRE / April 5, 2023
About this update from Magellan Copper And Gold Corp.
[{"type":"text","content":" The Companies are targeting a high-grade underground resource at the bottom of the past-producing Clear Creek Mine pit. WALLACE, ID / ACCESSWIRE / April 5, 2023 / Magellan Gold Corporation (OTCQB:MAGE) (\"Magellan\" or the \"Company\"), is pleased to announce that the company has entered into a Joint Venture Agreement with Gold Express mines on their Kris Project. The Kris Project is a high-grade underground target located in Plumus County, California. The property package at the Kris Project consists of 79 unpatented mining claims covering about 1580 acres that contain much of the best part of a 10-mile-long gold belt that historically produced over 250,000 ounces of gold from the 1850s to the 1940s. Project logistics are excellent with abundant Forest Service roads and past drill roads. The Project lies very near paved highway, and a few miles to rail siding, and power lines. The Company is targeting a high-grade underground resource at the bottom of the past-producing Clear Creek Mine pit. Surface sampling suggests a mineralized zone 1500' long and 30' wide and unknown depth. Many other similar targets are indicated along the 10-mile-long thrust fault zone. Mineralization is a classic orogenic thrust fault-related or Mother Lode-type deposit with excellent potential for ore-grade mineral to extend thousands of feet below the historical production from the open pit. The newly acquired properties fit perfectly with the Company's focus to acquire, explore, and develop early to mid-stage exploration targets or near-term production plays. The Company continues to remain focused in the State of Idaho and to leverage current managements many years of experience in the mining industry in the state. In the near future the Company will be speaking more specifically about each of the new property acquisitions, and we look forward to updating our current shareholders and the investing public about these new acquisitions and our Center Star Mine project as well. \"The Kris Project represents a tremendous opportunity for Magellan Gold's shareholders\", said Mike Lavigne, Magellan Gold's CEO. \"The Kris Project is a great example of the type of near-term production potential properties we are seeking to add to our portfolio\", he further stated. Mr. John Ryan, CEO and President of Gold Express Mines, said, \"We are pleased to be teaming up...