Since acquiring the Center Star project, which hosts high-grade gold mineralization that was discovered in the early 1900s, in July 2020, Magellan has acquired additional unpatented mining claims adding 320 acres of land to increase its holding to 620 acres along the Center Star gold trend. “Given its historical production, we strongly believe in the potential for this project,” Magellan President Mike Lavigne said. “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.”

Gold mineralization at Center Star is hosted in multiple, parallel steeply dipping quartz veins in a banded gneiss. The gold occurs in high grade veins that trend north-easterly and dip steeply to the southeast. These veins are present in a 75-and 100-ft wide sheer zone hosting quartz veins and breccia. No exploration or development work has been conducted at Center Star for 35 years. Magellan is focused on the exploration and development of precious metals in North America. In addition to the Center Star mine, it also currently controls the Silver District property in Arizona.