MGLQF - Magna Gold: Advancing the San Francisco Mine
2024-03-27 17:08:02 ET
Developing the San Francisco Mine in Sonora, Mexico
Magna Gold Corp. is a mineral exploration company focused on acquiring, exploring and developing quality precious metals properties in Mexico. Further, the Company's primary strength is the team of highly experienced mining professionals. They have a proven track record of developing properties in Mexico from discovery to production on budget and on time.
The San Fransico Mine
Magna's President and CEO, Arturo Bonillas was the co-founder of Timmins Gold Corp. where they developed, built and operated the San Francisco Mine for over 10 years.
Additionally, Magna Gold recently announced that it has entered into a definitive purchase agreement with Timmins Gold Corp. to acquire the San Francisco Mine located in Sonora, Mexico.
"We are extremely happy about the deal that we just closed. We developed it from scratch.", says Bonillas.
The operation is comprised of two previously mined open pits (San Francisco and La Chicharra), together with heap leach processing facilities and associated infrastructure located close to the San Francisco pit.
The mine has more than a million ounces in the ground and has a great potential to grow. It's located just next to the Pan-American Highway with all the infrastructure, power grids, water communications and an airport. Additionally, all of the people who work at the mine are living there.
Magna's 2 Projects
Magna Gold currently has two projects. The Mercedes Gold Project is in the Sierra Madre which is a very prolific district where the Company is exploring and drilling.
The other project is San Judas Gold Project. This property is located in a very large trend that hosts numerous deposits.
"The team is back and it is just like coming back and putting gasoline to a car that we left there some time ago. We know the country and we know how to do business there.", says Bonillas.
For more information on Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF) please fill out the form below.