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Magellan Copper acquires Alaska’s Ophir Creek gold mine to become a near-term producer, pending permits and exploration success.
Magellan Copper and Gold Corp. has signed a letter of intent to acquire the Ophir Creek Placer Gold Mine in Alaska from Village Gold, Inc., gaining access to 620 acres of state mining claims and pending federal claims.
The site, fully permitted by Alaska under APMA #3091, could begin operations in 2026 when seasonal access allows.
A 2025 site visit identified a nearby intrusive-related gold target, suggesting potential for hard rock exploration.
The acquisition aims to position Magellan as a near-term gold producer, leveraging rising metal prices to generate cash flow for other projects.
The company, which also owns the Center Star Gold Mine in Idaho, warns that no reserves have been established under SEC standards and future success depends on market conditions, regulatory approvals, and exploration results.
Magellan Copper adquiere la mina de oro Ophir Creek de Alaska para convertirse en un productor a corto plazo, en espera de permisos y éxito de exploración.