Thursday, February 18, 2021

#Mining #Stock News: Aurcana (TSXV: $AUN.V) (OTC: $AUNFF) Provides Construction Update for Its Revenue Virginius Mine; @AurcanaC

#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.

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Aurcana Silver Corporation is a featured mining company on InvestorIdeas. Please read our full disclaimer and disclosure regarding specific compensation Additional info regarding BC Residents: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

Aurcana Silver Corporation (TSXV: AUN) (OTC: AUNFF) is a featured Mining stock on Investorideas.com

 

Visit profile page

 


Get more mining stock investor ideas- news, articles, podcasts and stock directories

 

 

 

 

 

 

No comments: