#Mining #Stock News: Aurcana Silver (TSXV: $AUN.V) (OTC: $AUNFF)
Provides Operations Update; @AurcanaC
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SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia - November 23, 2021 (Investorideas.com Newswire) AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) advises shareholders and the general market of a rock movement event at the Company's wholly owned Revenue Virginius mine. No fatalities or injuries occurred, but ongoing operations will be temporarily impacted. The rock movement which occurred in the #2 Alimak Raise, which provided access to/from the stoping level for both men/materials as well as ore handing, will create a temporary material productivity limitation to underground production.
Read this news, featuring AUN in full at https://www.investorideas.com/CO/AUN/news/2021/11231Operations-Update.asp
Following the incident, underground operations were temporarily
suspended while the incident was investigated. Management has decided to use
one of two raises solely as an ore/waste pass while using the other raise to
provide access for people and materials. Operations have resumed, but this
decision reduces the underground vertical transportation capacity by 50% until
such time as the hoist in the #1 Raise, which is the long term primary conduit
for men and materials, is fully operational.
Due to this change and based on the current cash resources
available to the Company, management has decided to temporarily halt ongoing
development activities other than those relating to the completion of the #1
Raise hoist and focus on concentrate production from the existing available
stopes.
In addition, due to the temporary work curtailment, the Company
has provided notice to employees in compliance with the WARN Act of 1988. The
Company continues to operate but at a reduced capacity and is retaining
personnel consistent with the current objectives.
The Company's plans to manage operations are continuing to
evolve and the Company cannot forecast what production levels may be achieved
given the change to underground vertical transportation capacity. The Company
will provide an update as soon as possible.
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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