Adding silver mine to the mix and scaling up revenues
Magna is a Canadian gold company engaged in operations, development, exploration, and acquisition in Mexico. Further, its primary asset is the San Francisco Gold Mine in Sonora, Mexico, and exploration stage projects include San Judas, La Pima and Mercedes.
Los Muertos Silver Project
Magna Gold has entered into a definitive agreement to acquire the Los Muertos Silver Project in Sonora, Mexico. The Los Muertos project is in the Sonora-Mojave Megashear tectonic zone which, in fact, runs approximately 700km northwesterly from Los Muertos to near Palm Springs, California. Moreover, the Sonora-Mojave Megashear contains numerous silver-gold deposits, including Magna’s producing San Francisco mine located 300km northwest of Los Muertos. The nearest current producer is Argonaut Gold’s La Colorada silver-gold mine, located 30km northwest of Magna’s Los Muertos project.
Additionally, the Los Muertos silver-gold project is comprised of two claims, covering 1,756 hectares, (approximately 5km by 5km) which are located near Federal Highway 16, 80km southeast of the state capital of Hermosillo, and 30km southeast and on-trend with Argonaut Gold Inc.’s La Colorada mine.
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