Magellan drilled two (PA-01 / 336 total depth & PA-02 / 380 total depth) core holes to test its Papago target and one (RC-01/ 244 total depth) to test its Red Cloud target. Our consulting geologist selected 52 samples that were delivered to ALS Labs in Reno, NV for analysis.
"The inclusion of zinc and lead (at current prices) potentially doubles the value of the historical intercept in silver equivalents to over 12 OPT," said John Power, President & CEO of Magellan.
The new drill results will be incorporated into the existing historic drill database for use in planning additional drilling of the immediate project area. Geologic evaluation of the entire district continues as Magellan develops additional drill targets in and around the multiple satellite deposits in the Silver District land package.
THE RESULTS OF THE DRILLING PROGRAM DO NOT CONSTITUTE A RESOURCE OR RESERVE ESTIMATE. THERE CAN BE NO ASSURANCE THAT THE SUBJECT PROPERTY CONTAINS COMMERCIALLY RECOVERABLE MINERALS.
QA/QC Procedures
Drill samples were stored on-site inside a locked, guarded facility until selected samples were transported by the project geologist to a similar facility in Sparks, Nevada. There they were photographed, sawed and sampled under his direct supervision and then transported by him to ALS Minerals laboratory for analysis. Duplicates, blanks and standards were inserted at appropriate intervals for QA/QC purposes. The project geologist is a Licensed Professional Geologist in the State of Utah.
ABOUT MAGELLAN GOLD CORPORATION
Magellan Gold Corporation (OTCBB: MAGE) is a Nevada corporation engaged in the acquisition and exploration of precious metals mineral properties.
Magellan Gold's primary exploration property, The Silver District Property consists of 94 unpatented lode mining claims, 4 patented lode claims, an Arizona mining lease of 154.66 acres and 23 unpatented mill site claims, totaling over 2,000 acres. The property covers the heart of the historic Silver District in La Paz County, approximately 80 kilometers (50 miles) north of Yuma in southwest Arizona. Magellan has an option to purchase the Silver District land package until December 31, 2014.
Magellan is also developing exploration targets on its "Sacramento Mountains Project" which comprises 50 lode claims totaling over 1,000 acres located near Needles, California.