8-K
MAGELLAN COPPER & GOLD Corp (MAGE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of theSecurities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 15, 2020
MAGELLANGOLD CORPORATION****(Exact Name of Registrant as Specified in its Charter)
| Nevada | _333-174287 | 27-3566922 |
|---|---|---|
| (State or other jurisdiction<br><br> of incorporation) | Commission File<br><br>Number | (I.R.S. Employer Identification number) |
2010A Harbison Dr., #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 Act |
|---|---|
| ___ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ___ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ___ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section12(b) of the Act:
| Title of each Class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| N/A | N/A | N/A |
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 [ X ]
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 |
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On July 15, 2020, Magellan Gold Corporation, a Nevada corporation (the “Company”), issued a press release announcing the acquisition of additional unpatented mining claims in proximity to the unpatented claims comprising the historic Center Star Gold Mine near Elk City, Idaho which was acquired effective July 1, 2020. The Company has added an additional 320 acres of land to increase its holding to a total of 620 acres of claims along the Center Star gold trend. The new claims are located in proximity to the previously acquired claims and were staked to fortify the land position around Center Star Mine. 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: July 17, 2020 | By: /s/ John C. Power<br><br> <br>President |
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Exhibit 99.1
Magellan Gold Doubles the Size of itsCenter Star Gold Property in Idaho
New claims increase holdings to a totalof 620 acres of land at historic gold mine near Elk City, Idaho
Reno, Nevada
- July 15, 2020 – Magellan Gold Corporation ( OTCQB:MAGE ) (“Magellan” or the “Company”), a precious metals exploration and development company, is pleased to announce that the company has acquired additional unpatented mining claims in proximity to the unpatented claims comprising the historic Center Star Gold Mine near Elk City, Idaho which was acquired effective July 1, 2020. The company has added an additional 320 acres of land to increase its holding to a total of 620 acres of claims along the Center Star gold trend. The new claims are located in proximity to the previously acquired claims and were staked to fortify the land position around Center Star Mine.
“The acquisition of additional lode mining claims around the Center Star Mine strengthens our land position and is the next step of a strategic plan to advance and develop this project,” stated John Power, Interim President of Magellan Gold. “I’m pleased with our early data review, and with our planning for the further development of this project.”
“We are focused on building a gold-centric company and pursuing additional opportunities for growth with a goal of becoming a gold producer in the western United States. With the recent appreciation of gold, which continues to demonstrate resilience despite market volatility, we believe in the upside of our business sector and the value proposition for our newly acquired Center Star gold project,” added Power.
The Center Star Mine hosts high grade gold mineralization that was discovered in the early 1900’s, with periodic historic production and development work done under different ownership through the 1980s. With the high-grade gold mineralization present, Magellan will be evaluating the historic mine data to assess the resource potential present at Center Star. The property is located 45 miles from Grangeville, Idaho and near the town of Elk City, Idaho.
Gold mineralization at Center Star Mine is hosted in multiple parallel quartz veins in a banded gneiss. Like many of the historic mines in the Elk City area the gold is present is steeply dipping quartz veins. The gold at the Center Star Mine occurs in high grade veins that trend north-easterly and dip steeply to the south east and are present in a 75’ to 100’ wide sheer zone hosting quartz veins and breccia. The gold-bearing veins were reported to vary from inches to 20 feet in width and contain gold from .35 ounce per ton gold to multi ounce per ton gold based on historic mine data. The Center Star Mine has not had any exploration or development work conducted in the last 35 years and has the potential for significant ore reserves.
About Magellan Gold Corporation
Magellan Gold Corporation ( OTCQB:MAGE ) is focused on the exploration and development of precious metals in North America. Magellan controls two projects: The Center Star Gold Mine in Idaho and The Silver District Property in Arizona.
To learn more about Magellan Gold Corporation, visit www.magellangoldcorp.com.
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Cautionary Statement
The United States Securities andExchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a companycan legally extract or produce. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibilitystudy is required to report reserves. Currently we have not delineated “reserves” on any of our properties. We cannotbe certain that any deposits at our properties will ever be confirmed or converted into SEC Industry Guide 7 compliant “reserves.”Investors are cautioned not to assume that all or any part of any “resource” estimates will ever be confirmed or convertedinto reserves or that they can be economically or legally extracted.
Forward Looking Statements
This release contains “forward-lookingstatements.” Such statements are based on good faith assumptions that Magellan Gold Corporation believes are reasonable butwhich are subject to a wide range of uncertainties and business risks that could cause actual results to differ materially fromfuture results expressed, projected or implied by such forward-looking statements. Factors that could cause actual results to differfrom those anticipated are discussed in Magellan Gold Corporation’s periodic filings with the Securities and Exchange Commission.
Contact:
Magellan Gold Corporation
John Power, Director
contact@magellangoldcorp.com
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