8-K
MAGELLAN COPPER & GOLD Corp (MAGE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM8-K
CURRENT REPORT
Pursuantto Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 18, 2020
MAGELLANGOLD CORPORATION(Exact Name of Registrant as Specified in its Charter)
| Nevada | 333-174287 | 27-3566922 |
|---|---|---|
| (State or other jurisdiction of incorporation) | Commission File Number | (I.R.S. Employer Identification number) |
2010A Harbison Drive # 312, Vacaville, CA 95687
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 707-291-6198
______________________________________________________
(Former name or former address, if changed since last report)
| ☐ | Written communications pursuant to Rule 425 under the Securities<br> Act |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange<br> Act |
| ☐ | Pre-commencement communications pursuant to Rule<br> 13e-4(c) under the Exchange Act |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| ITEM 7.01 | REGULATION FD DISCLOSURE |
|---|
On August 18, 2020, Magellan Gold Corporation, a Nevada corporation (the “Company”) issued a press release to announce that it has posted the bond required under its permit from the U.S. Forest Service (USFS) to reopen portals at the Center Star Gold Mine (“Center Star”) in Idaho.
With bond placed, Magellan has hired a contractor to commence work immediately. This includes rehabilitating roads leading to the Center Star Gold Mine and reopening the mine’s main portal and emergency access portal. A copy of the press release is filed herewith as Exhibit 99.1.
The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01, the Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
|---|---|
| Item | Title |
| --- | --- |
| 99.1 | Press Release |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Magellan Gold Corporation | ||
|---|---|---|
| Date: August 18, 2020 | By: | /s/ John C. Power<br><br> <br>Chief Financial<br> Officer |
| 2 |
| --- |
Exhibit 99.1
Magellan Gold Posts Bond and CommencesWork to Reopen the Portals at Center Star Gold Mine in Idaho
WALLACE, Idaho – Aug. 18, 2020 – Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or the “Company”), a precious metals exploration and development company, today announced that the Company has posted the bond required under its permit from the U.S. Forest Service (USFS) to reopen portals at the Center Star Gold Mine (“Center Star”) in Idaho.
With bond placed, Magellan has hired a contractor to commence work immediately. This includes rehabilitating roads leading to the Center Star Gold Mine and reopening the mine’s main portal and emergency access portal.
“We are thrilled to begin development work on Center Star Gold Mine. We are moving very quickly to advance this project, after just recently receiving our permit,” said Mike Lavigne, President of Magellan. “Given its historical production, we strongly believe in the potential for this project. As such, reopening the mine’s portals to understand its underground workings is an important milestone in our progression, and one that would define our future development and strategic direction.”
Center Star, located near the Elk City mining district of Idaho, hosts high-grade gold mineralization that was discovered in the early 1900s, with periodic historic production and development work done under different ownership through the 1980s. It has not had any exploration or development work conducted in the last 35 years.
Since acquiring the Center Star project on July 1, 2020, Magellan acquired additional unpatented mining claims adding 320 acres of land to increase its holding to 620 acres of claims along the Center Star gold trend. Recently, the U.S. Forest Service issued the permit to allow work on the project subject to the posting of a bond with the USFS.
About Magellan Gold Corporation
Magellan Gold Corporation (OTCQB: MAGE) is focused on the exploration and development of precious metals in North America. Magellan’s flagship project is the Center Star Gold Mine in Idaho. We are additionally working to build a collection of interests in operating mines in the Western United States. Our goal going forward will be to achieve production and expand our resource base to achieve greater market recognition for the benefit of our shareholders.
To learn more about Magellan Gold Corporation, visit www.magellangoldcorp.com.
Cautionary Statement
The United States Securities and Exchange Commission permitsmining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract orproduce. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required toreport reserves. Currently we have not delineated “reserves” on any of our properties. We cannot be certain that anydeposits at our properties will ever be confirmed or converted into SEC Industry Guide 7 compliant “reserves.” Investorsare cautioned not to assume that all or any part of any “resource” estimates will ever be confirmed or converted intoreserves or that they can be economically or legally extracted.
Forward Looking Statements
This release contains “forward-looking statements.”Such statements are based on good faith assumptions that Magellan Gold Corporation believes are reasonable but which are subjectto a wide range of uncertainties and business risks that could cause actual results to differ materially from future results expressed,projected or implied by such forward-looking statements. Factors that could cause actual results to differ from those anticipatedare discussed in Magellan Gold Corporation’s periodic filings with the Securities and Exchange Commission.
Contact:
Magellan Gold Corporation
Mike Lavigne, President & Director
contact@magellangoldcorp.com