#Mining #Stock News: Aurcana Silver
Corp (TSXV: $AUN.V) (OTC: $AUNFF)
Ships First Concentrate
Production and Announces Management Change; @AurcanaC
NOT
FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
VANCOUVER, British Columbia, December 23, 2021 (Investorideas.com Newswire) AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to announce that it has shipped its first concentrate production from its wholly owned Revenue-Virginius Mine, located in Ouray, Colorado, USA.
Read this news, featuring AUN in full
at https://www.investorideas.com/CO/AUN/news/2021/12231Ships-First-Concentrate-Production.asp
The
Company continues to mine high-grade ore during this time of reduced
underground capacity. The processing system’s capability has been demonstrated
through the mill operating at design capacity and the ability to produce shippable
concentrate. However, the lack of consistent ore feed from the mine has been a
bottleneck to optimizing processing performance.
Going
forward, the near term operating plan is to continue to mine the two available
stopes on the 1800 level and create a stockpile that will help ensure a longer
period of sustained processing run-time. It is expected enough ore will be
stockpiled to enable the processing plant to restart again during the first
week of January.
Although
the delays in specific underground development projects has meant the mine has
been slower to get to full production than originally planned, a number of very
important milestones have been achieved for the Revenue-Virginius Mine restart.
First, the grade on the 1800 level based on assay results from samples taken
from development advance shows the grade is as expected or better when compared
against the geological model. The Company expects to be incorporating these
assay results into future resource work. Second, the mine has proved the resue
mining method works well for this ore-body in both dilution and geotechnical
control features. And third, the processing facility has demonstrated that it
can perform when given suitable ore feed to run at design rates and make
sellable concentrates.
The
Company continues to evaluate its development plan and timeline and will update
shareholders in the new year. The #1 Raise Hoist remains the main bottleneck to
achieving target mining productivities and its completion is a key to the
success of the overall operation. Work on the #1 Raise Hoist continues and is
the number one priority in the mine. Completion is now scheduled for May of
2022.
Aurcana
also announces the resignation of Brian Briggs from the position of Chief
Operating Officer of Aurcana Silver Corp and from the position of Chief
Executive Officer of Ouray Silver Mining Inc (“OSMI”). The responsibilities and
duties of these positions will be shared among existing managers and officers
of the Company and OSMI.
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 SILVER 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-Virginius 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 Silver 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 operational adjustments resulting from the reported rock movement and
the impact of such adjustments on the production and operations of the Company
at the Revenue Virginius mine (including with respect to the timing of closing
of all such matters). 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.
Aurcana
Silver Corporation (TSXV: AUN) (OTC: AUNFF) is a featured Mining stock on
Investorideas.com
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