San Francisco

Magna Gold Corp.




2020 / 11 / 30




3,300 oz Au over the first 4 years; 1.0% NSR thereafter

The San Francisco mine property covers more than 47,000 hectares located in the north central portion of the state of Sonora, Mexico, approximately 150 km north of the state capital city of Hermosillo. The project is comprised of two previously operated open pit mines, together with heap leach processing facilities and associated infrastructure. Operations at San Francisco commenced in 2010 and the mine produced more than 820,000 ounces of gold between 2010 and 2020, achieving yearly production of more than 100,000 ounces on several occasions.

In May 2020, Magna Gold Corp. closed the acquisition of the San Francisco mine and commenced a mine operational improvement plan, which includes a full review and update to the mine design and production plan, metallurgy and processing, workforce management, and local and regional exploration.

In September 2020, Magna Gold announced the results of a Pre-Feasibility Study (“PFS”) on the San Francisco mine, which estimates annual gold production of 69,000 ounces per year from 2021 to 2027. The PFS contemplates a 16,875 tpd heap leach operation using existing processing capacity of 22,000 tpd. Ore placed on the existing leach pad will be sourced primarily from open pits over the initial mine life of eight years, supplemented by a small portion of underground ore. Given the mine, processing plant, and infrastructure are all existing at San Francisco, there are no significant capital investments required to realize the production outlined in the PFS. Commercial production at San Francisco was achieved on June 1, 2021.

As of August 8, 2020, the Proven and Probable Reserves at San Francisco were 752.0 kozs of gold contained in 46.8 Mt at a grade of 0.5 g/t based on a 0.14 g/t cut-off grade.

Recent Activity

    July 2021

    Magna reported Q2 2021 gold production of 11,713 ounces at the San Francisco Mine and reiterated full year production guidance of 55,000 to 65,000 ounces of gold.

    June 2021

    Magna announced that commercial production at San Francisco was achieved on June 1, 2021. The Company stated that it is on track to achieve its earlier stated 2021 guidance of 55,000–65,000 ounces of gold production. Magna anticipates a production run rate of ~6,000 gold ounces per month in Q3 2021 and looks to exit the year at a run rate of ~7,500 gold ounces per month.

    March 2020

    Magna Gold Corp. announced the acquisition of the San Francisco mine from Timmins Gold Corp.

Use the link below to browse a list of available technical reports for the projects within Sandstorm’s portfolio. For the most up-to-date information on each project, please refer to the project operator or developer.

Investor Presentation

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Asset Handbook

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Annual Report

Our 2023 Annual Report includes our annual Financial Statements and Management Discussion & Analysis and a letter from Sandstorm’s President & CEO.


Sustainability Report

Learn more about Sandstorm’s approach to sustainability including our due diligence process, mining partnerships, and employee engagement.