#Mining #Stock
News: Aurcana Silver (TSXV: $AUN.V) (OTC: $AUNFF) Provides Operations Update; @AurcanaC
Current drifting on 1800 level north track has
exposed mineralization of high-grade silver dominant tetrahedrite along
footwall contact of vein. Pay streak averages 154 Ag eq opt for 50', with an
average width of .35ft. This mineralization shows an 83% increase to original
model forecast grades and is currently open ended to the north.
NOT FOR
DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
VANCOUVER, British Columbia - January 10, 2022 (Investorideas.com Newswire) AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to provide an update on current operations at 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/2022/01101Operations-Update.asp
Map 1
Operations are continuing to focus on the
completion of the #1 Alimak raise hoist / elevator system which will enable
efficient movement of men and materials between the 2000 level and the four
levels being developed above 2000. Operations also continue stoping on the 1800
level of the Virginius Vein, and making ongoing improvements to the process
plant.
It is anticipated that the mill will resume
operations in mid-January and will run as stope ore is available. Significant
improvement in concentrate quality was realized in the most recent mill run in
December and is expected to continue once the mill is back in operation.
Completion of the #1 Alimak
raise hoist / elevator project remains targeted for May 2022. The #1 Raise
Hoist is the key to safe, efficient, and sustainable travel for men and
materials to the upper levels of the Virginius mine. This hoisting system will have
an immediate positive impact on mining productivities and subsequent mine
development & production and mill production. The improved access to the
upper levels of the Virginius and other veins is expected to also enhance
future exploration and development activities at the mine.
Mining operations have
continued to focus on the optimization of 1800 level stope mining. Stope ore
has been stockpiled underground in anticipation of the resumption of milling.
Currently, the mine has two stopes available on the 1800 level to supply the
mill with high grade silver ore with a third stope partially completed. Assays taken from on vein development openings
continue to demonstrate strong mineralization in support of the geologic model.
The figure below depicts a graphical representation of the grades encountered
while drifting north on the Virginius Vein on the 1800 level.
Assays taken from on vein
development openings continue to demonstrate strong mineralization in support
of the geologic model. The figure below depicts a graphical representation of
the grades encountered while drifting north on the Virginius Vein on the 1800
level.
Map 1 is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5348ede0-4ef2-4c5a-b864-79bb45b69fc1
"We are
very pleased with the grades we are encountering, and the fact these grades are
significantly higher (83%) when compared to the geologic model; this gives us
great confidence in our ore body," said Kevin Drover, President and CEO of
Aurcana.
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 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
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