S&P Capital IQ Initiates Coverage on Magellan Minerals Ltd in Standard & Poor′s Factual Stock Reports
S&P Capital IQ announced today that it has commenced Standard
& Poor′s Factual Stock Report coverage on Magellan Minerals Ltd.
Magellan Minerals Ltd. (TSX-V: MNM; Pinksheets: MAGNF) engages in the
exploration and development of gold properties primarily in Brazil. The
company's principal properties consist of the Cuiu Cuiu project that
covers approximately 47,000 hectares and is located southwest of
Itaituba city, northern Brazil; and the Coringa gold project, which
covers 19,093 hectares and is located in the state of Para, Brazil.
MNM's Cuiu Cuiu property holdings consist of two exploration licenses,
four license applications and 76 artisanal mining claims. Exploration
drilling is currently in progress at Cuiu Cuiu with three rigs, working
to expand the current resources. The 43-101 compliant resource estimate
from March 2011 reported 0.1 Moz Indicated and 1.2 Moz inferred with an
average grade of 1.2 g/t gold. Two of the eight major anomalies on this
property are the Central and Moreira Gomes deposits. The Central Deposit
has 68 drill holes totaling 20718.79 meters, extending over
approximately 1100 meters of strike and up to 450 meters depth. The
Moreira Gomes deposit contains 42 drill holes totaling 11213.89 meters,
extending over approximately 1800 meters of strike length and to a
vertical depth of up to 350 meters.
The company announced on October 20, 2011 that it had staked an
additional 57,000 ha of ground within the Tocantinzinho Trend of the
Tapajos Gold Province. This trend is a belt of mineralization roughly
300km in strike length that has published resources totaling over five
million ounces of gold in several deposits, one of which is the Cuiu
Cuiu property.
Standard
& Poor′s Factual Stock Report coverage on Magellan Minerals Ltd.
will also be accessible on an ongoing basis to the investment community
by scores of buy-side institutions and sell-side firms that utilize S&P
Capital IQ research and information platforms daily. Millions of
self-directed investors also have access to the report via their
e-brokerage accounts. Please visit www.magellanminerals.com
for additional information.
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Magellan Minerals Limited
Jennifer Duthie, 778-370-0519
Corporate
Communications Manager
Jennifer@magellanminerals.com
or
S&P
Capital IQ
Customers:
Richard Albanese, 212-438-3647
richard_albanese@standardandpoors.com
or
Media
Relations:
Michael Privitera, 212-438-6679
michael_Privitera@standardandpoors.com