MAGELLAN GOLD CORPORATION (OTCMKTS:MAGE) Files An 8-K Regulation FD Disclosure
ITEM 7.01
On December 17, 2018, Magellan Gold Corporation, a Nevada corporation (the “Company”) issued a press release announcing it has reached preliminary agreement to toll treat mineralized material utilizing the Company’s SDA Mill at Acaponeta, Nayarit State, Mexico. A private third-party supplier will be responsible for sourcing the mineralized material and delivering it to the mill. Test processing of an initial bulk sample of approximately 1,000 tons is expected to commence during December, 2018. If the initial test is successful in yielding a marketable concentrate, the parties intend to proceed with processing at a rate of up to 3,000 tons per month. A copy of the Press Release is filed herewith as Exhibit 99.1.
In addition, the Company has continued to advance its El Dorado Gold-Silver Project, which lies 50 kilometers south of the SDA Mill. The Company plans to truck ore from El Dorado to the mill for processing. Quotes have been obtained for contract mining and applications for environmental and blasting permits are in progress.
The Company also announced that over the past two months it has repaid approximately $381,000 to third-party lenders in retirement of convertible debt instruments.
The information in this Current Report on Form 8-K furnished 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 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 |
MAGELLAN GOLD Corp Exhibit
EX-99.1 2 magellan_8k-ex9901.htm PRESS RELEASE Exhibit 99.1 Magellan Conducts Bulk Test at SDA Mill for Toll Milling Contract Provides Update on El Dorado Gold-Silver Project FOR IMMEDIATE RELEASE December 17,…
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