#Mining #Stock News: Aurcana (TSXV: $AUN.V)
(OTC: $AUNFF) Provides Construction Update for Its Revenue Virginius Mine; @AurcanaC
VANCOUVER, British Columbia - February 18, 2021 (Investorideas.com Newswire) Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN) is pleased to provide a construction update for its Revenue Virginius Mine, (RV Mine) located near Ouray, Colorado.
Aurcana
is fully funded for the RV Mine restart including a robust contingency. Excess
funding will be applied to potential value added activities such as such as
exploration of vein extensions, potential production volume increases,
strategic regional consolidation, and Shafter value added activities.
Read this news,
featuring AUN in full at https://www.investorideas.com/CO/AUN/news/2021/02181Construction-Update.asp
Figure
1. as of Feb. 17, 2021
The
Company remains on track to deliver a ramp up to full production in the second
half of 2021. Please note the following progress milestones:
Staffing:
·
All
management personnel have been hired and are currently in place at the RV Mine
along with Kevin Drover, President and CEO of Aurcana Silver Corporation who
relocated to Ouray at the end of 2020 to directly oversee the restart.
·
The
current complement of employees and contractors working at the site is
approximately 130 people including 110 working directly for the RV Mine.
Surface Facilities Upgrades:
·
The
rail-yard building constructed to provide storage of ore car train sets and
material storage is completed.
·
Foundations
for the reagent building and miners dry room are poured and awaiting structural
steel erection.
Underground Development:
·
Debottlenecking
of underground infrastructure continues allowing for more efficient development
work.
·
Significant
progress has been made on #1 and #2 vertical raises to access the initial
production stopes, and the vertical development sequence has been optimized to
allow horizontal drifting to begin earlier on the lower (closer to rail level)
production levels. #3 raise will commence in April.
·
The
Hubb-Reed raise shown on the drawing below is the main secondary escapeway from
the mine. The opening has been completed and awaiting installation of the
elevator.
A
figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/308f2f1a-eeda-4324-9940-fcd106075b56
Processing Facilities Upgrades:
·
All
major pieces of equipment have been ordered and are either on-site or in
transit.
·
The
mill foundation has been poured for the upgraded main mechanical feeder.
·
Current
expectations remain for mill commissioning and first ore through the mill in
the third quarter of CY2021.
Qualified Person Statement
The
scientific and technical content of this news release was reviewed and approved
by Michael Gross, P. Geo, a “qualified person” within the meaning of NI 43-101
ABOUT AURCANA CORPORATION
Aurcana
Corporation owns the Revenue-Virginius Mine, in Colorado, and the
Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter
and Revenue-Viriginius is silver. Both are fully permitted for production.
ON
BEHALF OF THE BOARD OF DIRECTORS OF AURCANA SILVER CORPORATION
"Kevin Drover"
President & CEO
For further
information, visit the website at www.aurcana.com or contact:
Aurcana
Corporation
850 - 789 West Pender Street
Vancouver, BC V6C 1H2
Phone: (604) 331-9333
Gary
Lindsey, Corporate Communications
Phone: (720)-273-6224
Email: gary@strata-star.com
CAUTIONARY
NOTES
This
press release contains forward looking statements within the meaning of
applicable securities laws. The use of any of the words "anticipate",
"plan", "continue", "expect",
"estimate", "objective", "may", "will",
"project", "should", "predict",
"potential" and similar expressions are intended to identify forward
looking statements. In particular, this press release contains forward looking
statements concerning, without limitation, statements relating to the Private
Placement (including with respect to the timing of closing of the Private
Placement). Although the Company believes that the expectations and assumptions
on which the forward looking statements are based are reasonable, undue reliance
should not be placed on the forward looking statements because the Company
cannot give any assurance that they will prove correct. Since forward looking
statements address future events and conditions, they involve inherent
assumptions, risks and uncertainties. Actual results could differ materially
from those currently anticipated due to a number of assumptions, factors and
risks. These assumptions and risks include, but are not limited to, assumptions
and risks associated with the receipt of regulatory or shareholder approvals,
and risks related to the state of financial markets or future metals prices.
Management
has provided the above summary of risks and assumptions related to forward
looking statements in this press release in order to provide readers with a
more comprehensive perspective on the Company's future operations. The
Company's actual results, performance or achievement could differ materially
from those expressed in, or implied by, these forward looking statements and,
accordingly, no assurance can be given that any of the events anticipated by
the forward looking statements will transpire or occur, or if any of them do
so, what benefits the Company will derive from them. These forward looking
statements are made as of the date of this press release, and, other than as
required by applicable securities laws, the Company disclaims any intent or
obligation to update publicly any forward looking statements, whether as a
result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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