InPhekTed
1 year ago
HOUSTON, Sept. 8, 2022 /PRNewswire/ -- Tidewater and Big Bend Foundation (the "Foundation"), a 501(c)3 nonprofit foundation dedicated to historical preservation and land conservation, today announced that it seeks to acquire some or all of Aurcana Silver Corporation's ("Aurcana") assets in Shafter, TX. The principal assets of interest are the historical sites, structures and ruins located along Highway 67 in Shafter. In order to effect a transaction, the Foundation will consider the purchase of all of the Aurcana's assets in Texas
basserdan
2 years ago
Aurcana Silver Provides Corporate Update
V.AUN | 50 minutes ago
VANCOUVER, British Columbia, June 24, 2022 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN; OTC: AUNFF) provides the following update:
As first announced in the press release dated March 21, 2022, and further to the Company’s press releases dated April 11, 2022, May 19, 2022, May 31, 2022, June 3, 2022 and June 20, 2022, certain indirect, wholly owned subsidiaries of Mercuria Energy Group (“Mercuria”) entered into certain standstill and restructuring agreements with Aurcana with effect as of March 8, 2022, which agreements included the grant to Aurcana of a waiver of all current events of default and a standstill agreement (a “Waiver and Standstill) under the Company’s five-year, $28 million term loan (and an associated hedging package) until June 23, 2022 in order to allow Aurcana time to achieve certain conditions precedent. Today, Mercuria and Aurcana have agreed to an extension of the Waiver and Standstill from June 24, 2022 until July 1, 2022.
Aurcana continues to evaluate all available alternatives with respect to refinancing the Company and satisfying the conditions precedents contained in the foregoing restructuring agreements with Mercuria and is continuing to actively pursue multiple financial and strategic alternatives that are in the best interests of the Company and its stakeholders. However, the Company has not made any decisions related to any of the foregoing matters at this time, and there can be no assurance that this evaluation of strategic alternatives will result in any transaction (with Mercuria or otherwise).
The Company also announces that David Kaplan and Elliot Rothstein have resigned as directors of the Company, effective June 23, 2022. The Company wishes to thank Mr. Kaplan and Mr. Rothstein for their contributions to the Company and wishes them well in the future.
ABOUT AURCANA SILVER CORPORATION
Aurcana Silver 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
basserdan
2 years ago
Aurcana Silver Provides Corporate Update
VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN; OTC: AUNFF) provides the following update:
As first announced in the press release dated March 21, 2022, and further to the Company’s press releases dated April 11, 2022, May 19, 2022, May 31, 2022 and June 3, 2022, certain indirect, wholly owned subsidiaries of Mercuria Energy Group (“Mercuria”) entered into certain standstill and restructuring agreements with Aurcana with effect as of March 8, 2022, which agreements included the grant to Aurcana of a waiver of all current events of default and a standstill agreement (a “Waiver and Standstill) under the Company’s five-year, $28 million term loan (and an associated hedging package) until June 20, 2022 in order to allow Aurcana time to achieve certain conditions precedent. Today, Mercuria and Aurcana have agreed to an extension of the Waiver and Standstill from June 20, 2022 until June 24, 2022.
Aurcana continues to evaluate all available alternatives with respect to refinancing the Company and satisfying the conditions precedents contained in the foregoing restructuring agreements with Mercuria and is continuing to actively pursue multiple financial and strategic alternatives that are in the best interests of the Company and its stakeholders. However, the Company has not made any decisions related to any of the foregoing matters at this time, and there can be no assurance that this evaluation of strategic alternatives will result in any transaction (with Mercuria or otherwise).
ABOUT AURCANA SILVER CORPORATION
Aurcana Silver 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
https://stockhouse.com/news/press-releases/2022/06/20/aurcana-silver-provides-corporate-update
basserdan
2 years ago
Aurcana Silver Provides Corporate Update
VANCOUVER, British Columbia, May 19, 2022 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: AUNFF) provides the following update:
As outlined in the press releases dated April 11, 2022 and dated March 21, 2022, Aurcana continues to evaluate all available alternatives with respect to refinancing the Company and satisfying the conditions precedents contained in the restructuring agreements entered into with subsidiaries of Mercuria Energy Group. The Company is continuing to actively pursue multiple financial and strategic alternatives that are in the best interests of the Company and its stakeholders and has engaged a financial advisor to assist in identifying and analyzing opportunities. Discussions have also been held with certain parties regarding their participation as a lead order for an equity offering. In addition, the Company is also evaluating potential non-dilutive structures and debt refinancing packages and is in active discussions with potential merger partners. The Board and Management remain focused on reaching a full solution to the Company’s financing needs and remain optimistic as to its prospects. However, the Company has not made any decisions related to any of the foregoing strategic alternatives or transactions at this time, and there can be no assurance that this evaluation of strategic alternatives will result in any transaction or change in strategy.
Due to personal health issues, Kevin Drover, President and CEO, has not been readily available for the past few weeks but will have periodic availability and will be more accessible over the coming weeks. Mr. Drover also commented that in light of the recent departure of the Company’s investor relations consultant, “although practically speaking there will be times when we are simply unable to answer all the calls and emails we get, going forward we will endeavor to return to our usual accessibility to our shareholders.”
ABOUT AURCANA SILVER CORPORATION
Aurcana Silver 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
https://stockhouse.com/news/press-releases/2022/05/19/aurcana-silver-provides-corporate-update
basserdan
2 years ago
Aurcana Silver Provides Corporate Update
VANCOUVER, British Columbia, April 11, 2022 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: AUNFF) provides the following update:
As outlined in the press release dated March 21, 2022, Aurcana continues to evaluate all available alternatives with respect to the Company and satisfying the conditions precedents contained in the restructuring agreements entered into with subsidiaries of Mercuria Energy Group in respect of the Company’s outstanding $28 million term loan and associated hedging package. Aurcana is actively pursuing multiple financial and strategic alternatives that are in the best interests of the Company and its stakeholders and has engaged a financial advisor to assist in identifying and analyzing opportunities. The Company remains optimistic as to its prospects, although there can be no assurances that any transaction(s) will occur.
In addition to its focus on the required financing, the Company continues to work to optimize the mine development and restart plan for the Revenue-Virginius Mine to reduce time and capital requirements. The #1 hoist installation remains the critical path followed by finishing the development to have four working faces available and then to resume mining activities on the 1800 level.
ABOUT AURCANA SILVER CORPORATION
Aurcana Silver 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
https://www.globenewswire.com/news-release/2022/04/11/2419759/0/en/Aurcana-Silver-Provides-Corporate-Update.html
basserdan
2 years ago
Aurcana Silver Provides Operations Update
Vancouver, BC – March 8, 2022 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: AUNFF) provides the following update on operations at its wholly owned Revenue-Virginius Mine located in Ouray, Colorado, USA.
Mining and development operations have continued to focus on the completion of the #1 Alimak raise hoist / elevator system (the “#1 Raise Hoist”) throughout January and most of February. As a result of extreme winter weather conditions at the mine site during the second half of February, the site has been periodically inaccessible. Due to the high cost of maintaining the Company’s labor on standby and the higher cost of winter operations in general, the Company has temporarily suspended mining operations in order to ensure the efficient use of the Company’s resources and to conserve cash during the immediate term.
Based on the progress at site to date, the Company’s anticipated plans for resumption of work, the completion of the #1 Raise Hoist remains targeted for the second quarter of 2022. Completion of the #1 Raise Hoist is essential to reducing underground travel time for mine workers and for safe and sustainable access to the upper levels of the Virginius Vein. The Company believes that this hoisting system will have an immediate and long-term positive impact on mining productivity, as well as on subsequent mine development and production and mill production. The improved access to the upper levels of the Virginius and other veins is also expected to enhance future exploration and development activities at the mine.
Operations are anticipated to resume as soon as it is practical and cost effective to do so, with an initial priority focus on activities associated with completion of the #1 Raise Hoist. The Company then anticipates that operations at the mine will ramp to full production as quickly as possible thereafter following the completion of the #1 Raise Hoist.
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 National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
ABOUT AURCANA SILVER CORPORATION
Aurcana Silver 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
https://www.aurcana.com/news/2022/index.php?content_id=494
basserdan
2 years ago
Aurcana Announces Closing of Second Tranche of Non-Brokered Private Placement for Aggregate of $5,972,725
Vancouver, BC – February 28, 2022 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: AUNFF) is pleased to announce it has closed the second and final tranche of the non-brokered private placement offering (the “Private Placement”) announced on February 1, 2022, subject to the approval of the TSX Venture Exchange. The second tranche consists of 1,926,857 Units at a price of C$0.35 per Unit, for a total of $674,399.95. The first and second tranches combined consist of a total of 17,064,928 units for a total of $5,972,724.80 raised.
Each Unit consists of one common share of the Company and one full common share purchase warrant (“Warrant”), with each Warrant entitling the holder thereof to purchase one common share at a price of C$0.525 for a period of 36 months following the closing of the Private Placement, subject to adjustment upon certain customary events.
The net proceeds of the Private Placement will provide contingency funding for the restart of the Company’s wholly owned Revenue Virginius (RV) Mine as well as funding for growth of the resource base at the RV Mine which may enable the Company to grow future production volumes. Net proceeds will also be used for working capital and general and administrative expenses including potential opportunities to advance its wholly owned Shafter Project in light of the current silver price.
The Units have been issued on a private placement basis pursuant to applicable exemptions from prospectus requirements under applicable securities laws. The common shares and Warrants (and any common shares issued pursuant to the Warrants, as applicable) are subject to a statutory hold period of four months and one day from the date of issuance of the Units. The hold period for the first tranche expires on June 2, 2022 and the hold period for the second tranche expires on June 29, 2022.
The Company paid an aggregate of C$243,558 in finder’s fees and issued an aggregate of 695,880 agent’s warrants, (“Agent’s Warrants”) with each Agent’s Warrant entitling the holder thereof to purchase one Common Share at a price of C$0.525 for a period of 36 months from the date of issuance.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
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 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
https://www.aurcana.com/news/2022/index.php?content_id=493
basserdan
2 years ago
Aurcana Silver Provides Operations Updates
Vancouver, BC – January, 10, 2022 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: AUNFF) is pleased to provide an update on current operations at its wholly owned Revenue-Virginius Mine located in Ouray, Colorado, USA.
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.
Figure 1
“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 Silver 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
https://www.aurcana.com/news/2022/index.php?content_id=491
basserdan
2 years ago
Aurcana Silver Corp Ships First Concentrate Production and Announces Management Change
Mr. Kevin Drover reports:
VANCOUVER, British Columbia, Dec. 23, 2021 (GLOBE NEWSWIRE) -- AURCANA SILVER CORPORATION ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: 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.
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
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/525-tsx-venture/aun/113051-aurcana-silver-corp-ships-first-concentrate-production-and-announces-management-change.html
basserdan
2 years ago
Chris Marcus: CFTC suppresses silver manipulation evidence again
Earlier this year, acting CFTC chairman Rustin Benham confirmed that his agency took steps to cap the price of #silver. which is certainly an unusual comment for a regulator to make.
However, in following up with the agency to get clarity, I was able to contact the public media director, and in tonight's video you’ll find out what happened.
So if you want to know the truth about silver manipulation and the CFTC, click to watch the interview now!
https://www.youtube.com/watch?v=Y0ipTCpUqyA&t=7s
basserdan
2 years ago
Aurcana Silver Provides Operations Update
Vancouver, BC – November 23, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: 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.
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 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
https://www.aurcana.com/news/2021/index.php?content_id=489
basserdan
3 years ago
Aurcana Silver Provides Update on Mill Commissioning and Mine Ore Sampling
Vancouver, BC – October 5, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQF: AUNFF) is pleased to provide an update on development progress for the 1800 level stopes and mill operations.
The mill construction is complete and final commissioning of the mill is ongoing. Development ore was stockpiled for processing during the commission period with final commissioning to coincide with stope ore. Mill throughput has been tested as high as 13 tons per hour (tph) 312 tons per day (tpd) without any major issues arising. The targeted mill throughput is 270 tph. Both lead and zinc concentrates are being produced and it is anticipated that the first shipment will occur during the week of October 4th. Although early in the start-up process, metallurgical performance of the mill and flotation circuits appear to be as forecast in the Feasibility Study.
Lateral development on the 1800 level is progressing well; the first stope ore came online from the 1800 level on September 25th. Geological sampling of development headings shows an average weighted silver equivalent grade of 39 ounces per short ton, with grades as high as 196 ounces per short ton (AgEq/ton) compared to the modeled grades in the same area of approximately 27 AgEq/ton.
The first stope will be brought into the production sequence in phases, based on the timeline indicated in Figure 1.
Figure 1: 1800 level 980-1450 Stoping Block
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-Virginius is silver. Both are fully permitted for production.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA 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
http://www.aurcana.com/news/2021/index.php?content_id=485
basserdan
3 years ago
Aurcana Starts Producing Silver - CEO Kevin Drover
Tickers - OTCQX: AUNFF - TSX.V: AUN
For the first time in ages, a new American silver mine has started producing silver. It's been a challenge, but they've beaten the odds. Drover expects positive cash flow starting in October. Initial expectations are for approximately 270 tons per day of rock going through the mill and then rising soon to 500 tons per day. Due to inflation, cost per ounce is somewhat above the original estimate of $8, however the initial ore grades are coming in much higher than expected. If it continues this way, annual mine production and profit could increase substantially.
Getting the Texas based Shafter mine into production is next on Drover's list. When all is said and done, Aurcana could eventually be producing 8-9 million silver ounces per year, which would put it firmly in the mid-tier producer camp. He's also exploring a nearby acquisition candidate that includes another 500 ton per day mill. It's just a short distance from the now producing Revenue Virginius mine.
The company has made the transition to silver production. Now it's a matter of leveraging its current position to make sound acquisitions and to get the Shafter mine working. Aurcana's future has never looked brighter.
Website: www.Aurcana.com
https://www.youtube.com/watch?v=gEc6O7oaPWQ&t=10s
basserdan
3 years ago
Join us: Aurcana Silver Corp webinar, Wed, Sept 1, 11:00 AM EDT
Aurcana Silver Corporation live webinar
Wednesday, September 1, 2021
11:00 AM - 12:00 PM EDT
https://mailchi.mp/amvestcapital.com/join-us-aurcana-silver-live-webinar-fri-jan-8-1100-am-est-silver-leverage-near-term-production-q3-10137406?e=8622d71292
CLICK HERE TO REGISTER for the live webinar and alerts to the replay
https://register.gotowebinar.com/register/9191481119214387981?source=mc
basserdan
3 years ago
Aurcana Silver Provides Update on the Restart Progress of Its Revenue Virginius Mine, With First Ore Through the Mill
Vancouver, BC – August 30, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV:AUN; OTCQX:AUNFF) is pleased to provide an update on the restart activities of the Company’s wholly owned Revenue Virginius Mine in Ouray, Colorado.
The Company is pleased to report that the processing plant initiated commissioning with development ore on Friday August 27, 2021. This is an important milestone in the restart of full operations, with stope ore to be processed in the near future. The Company plans to continue to ramp up to the full production rate of 270 short tons per day over the month of September.
The Company is also pleased to report that initial assay results from the 1800 drift level show an average undiluted grade over 78 feet of drift of 54.0 (33.9 diluted to a minimum mining width of 1.5 ft) ounces per ton silver equivalent (AgEq)1 per short ton (ST). The actual measured vein width in this area is 1.19ft as compared to the modeled vein width for the same 78 feet of 0.23 feet and an undiluted grade of 26.9 (4.2 diluted to a minimum mining width of 1.5 ft) AgEq1/ST over for the same drift section. Assay data lags actual development and the Company looks forward to reporting more assay results in the near future, but visual inspections each shift indicate that this strong mineralization continues.
Concentrate shipments are anticipated to begin in the first half of September. Trafigura Trading LLC is the off-taker for 100% of the concentrates and will pay 95% of the contained metals value based on the mine site concentrate assays at the time of shipment, with final settlement based on smelter returns.
Kevin Drover commented “These additional assay results – 15 feet below the first mining stope – which confirm the mineralization is as we expected is the key data validation point we needed to confirm that we can be successful. Mining productivity at the face has been strong and we have some of the best miners in the business working for us. While some logistics issues related to movement of ore and waste in the same underground area slowed our initial development in opening up the production stopes, these short term delays are resolvable as the stope is opened to its full length. With this grade confirmation in hand, the processing plant now moving into commissioning, and with logistics improving rapidly as the first production stope expands both north and south, we are very confident of a successful restart.” 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-Virginius is silver. Both are fully permitted for production.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA 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
http://www.aurcana.com/news/2021/index.php?content_id=484
basserdan
3 years ago
Aurcana Silver nears production as inflation soars
If you believe the silver price is going to have to eventually rise, and probably by a lot, Aurcana Silver (TSX:AUN.V; OTCQX:AUNFF) is a company that you will want to be aware of now.
At peak capacity they’re targeting 8-9 million ounces per year, and they are only months away from going into production.
Of course if the price of silver is reset higher at some point, it quickly gets fun to start thinking about the valuations.
So to find out whether Aurcana Silver might be a good match for you, click to watch the video now!
https://www.youtube.com/watch?v=ClIqoJY_oW4&t=6s
basserdan
3 years ago
Aurcana Silver Provides Initial Assay Results and a Restart Progress Update for Its Revenue Virginius Mine
Vancouver, BC – July 7, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV:AUN; OTCQX:AUNFF) is pleased to provide the results of the first assays after accessing the Virginius Vein on the 1800 level as well an update on progress towards first production.
INITIAL ASSAY RESULTS
The initial samples of the Virginius Vein intersection on the 1800 level assayed 38.611 ounces per ton (opt) (1,323.8 g/t) of silver equivalent1 over a vein width of 2.5 feet, including 85.782 opt (2,941.1 g/t) of silver equivalent1 over 0.6 feet (see below Table 1 and Figure 1 for details). These results compare favorably with the reserve grade in this location of 24.7 opt (846.8 g/t) silver equivalent1 over 1.4 feet as reported in the 2018 feasibility study (the “2018 FS”) prepared in accordance with National Instrument NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A copy of the 2018 FS is posted on the Company’s website www.aurcana.com and is also available on the Company’s profile on SEDAR at www.sedar.com.
RESTART PROGRESS UPDATE
The Revenue-Virginius project remains on track to reach full production (270 stpd) by September 2021.
* Development ore to be delivered to the process plant in July 2021 for commissioning and restart.
* Ore throughput will be ramped up to 110 short tons per day (stpd) during August, and then to full production of 270 stpd during September.
* Concentrate shipments are anticipated to begin in early August. Trafigura Trading LLC is the off-taker for 100% of the concentrates and will pay 95% of the contained metals value based on the mine site concentrate assays at the time of shipment, with final settlement based on smelter returns.
* Payable silver equivalent2 production for the period between August and December 2021 is forecast to be 1,300,000-1,600,000 ounces at an estimated cash operating costs of between US$10.00 to US$12.00/oz silver after by-product credits3.
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-Virginius is silver. Both are fully permitted for production.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA 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
http://www.aurcana.com/news/index.php?content_id=483
basserdan
3 years ago
Aurcana Silver: All American Silver Producer Coming Online To Meet 2x Demand
Kevin Drover, CEO of Aurcana Silver Corp, is bringing their silver mine into full production as soon as September. Jay and Kevin discuss the coming global shortage for industrial silver and how Aurcana's low-cost, long-life silver mines in Colorado and Texas will help meet that demand. Kevin lays out Aurcana's path to becoming a mid-tier silver producer (8-9M Oz/Year) in a few short years.
About Aurcana (TSXV:AUN OTCQX:AUNFF)
Aurcana Silver Corporation is a Vancouver-based company whose shares are listed for trading on the TSX Venture Exchange.
Aurcana acquired Ouray Silver Mines Inc. which owns the Revenue-Virginius polymetallic mine in Ouray, Colorado in December, 2018. A new mill was built in 2011 and the mine was last operated in 2015 before being placed on care and maintenance. Since 2015 more than $20 million has been invested in technical work on the asset. In June 2018 and updated feasibility study was completed and the mine is fully permitted for immediate production. Aurcana is now focused on securing the required financing to put the Revenue-Virginius mine back into production.
Aurcana also owns the Shafter silver project, located in Presidio County, Southwest Texas. The Shafter project was advanced and substantially built prior to being placed on care and maintenance in December 2013. In September 2018, the Company also revised the Preliminary Economic Assessment for Shafter and the project is fully permitted.
https://www.youtube.com/watch?v=J1tg63N3_q4
basserdan
3 years ago
Aurcana Silver Provides Construction Update And Production Outlook For Its Revenue Virginius Mine For The Remainder Of 2021
Vancouver, BC – May 4, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to provide a construction update and a production outlook for the remainder of 2021 for its Revenue Virginius Mine, (RV) located near Ouray, Colorado.
Mine Development
* Underground mine development is proceeding on schedule with three raises being driven vertically from the 2000 main haulage level 800 feet to the 1200 level (See Figure 1 below).
* The #1 Alimak Raise is advancing vertically at an average rate exceeding 16 feet per day and is scheduled to be complete by late May, after which the hoist and shaft timber will be installed for permanent men and material access.
* The #2 Alimak Raise has progressed up to the 1500 Level and is temporarily being used for men and materials transport from the 2000 level to the 1800 and 1500 level pending completion of #1 Alimak Raise.
* The #3 Alimak Raise vertical development began in May and is scheduled to reach the 1800 level by the third week of May.
* On completion of #1 Alimak Raise, the #2 and # 3 Alimak raises will be dedicated ore and waste raises.
* Level (horizontal) development has commenced on the 1800 level to intersect the Virginius vein, which is scheduled to occur during the third week of May. Following this, development will continue by driving drifts both north and south on vein for over 1000 feet to prepare for stope development.
* Stope development on the 1800 level is estimated to begin in late June with first ore to the mill in early July.
* Ore development on 1800 level is on schedule to deliver initial ore to the processing plant in July. Two stopes (mining blocks) on the 1800 level will provide the initial ore supply while stopes on the 1500 level are developed.
* It is anticipated that four stopes will be available by year end 2021 (two stopes per level) to supply the processing plant.
However only two stopes are required to provide the 270 tons per day as specified in the 2018 feasibility study (the “2018 FS”) prepared in accordance with National Instrument NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A copy of the 2018 FS is posted on the Company’s website www.aurcana.com and is also available on the Company’s profile on SEDAR at www.sedar.com.
Processing Plant Preparation
* All processing plant upgrades including installing additional flotation capacity, replacing cyclones with sizing screens, installing a rod mill, installing crushers and conveyors along with a new instrument control system will be completed by mid-June. Processing plant commissioning with water is scheduled for the last week of June with first ore through the processing plant in the second week of July.
* Final work on the transition chute from the coarse ore bin to the new primary pan feeder is scheduled to be completed by July 10th, 2021 and will enable full processing plant operation.
* Throughput will be ramped up over the course of July to reach 111 ton per day (tpd) during August, and then to the full production level of 270 tpd during September.
* Concentrate shipments will be in 100 ton lots and are anticipated to begin in early August. Trafigura Trading LLC is the off-taker for 100% of the concentrates and will pay the value of 95% of the contained metals based on the mine site concentrate assays at the time of shipment, with final settlement based on smelter returns.
* Payable silver equivalent1 production for the period between August to December 2021 is anticipated to be 1,300,000-1,600,000 ounces at an estimated cash operating costs of between USD10.00 to USD12.00/oz silver after by-product credits2.
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-Virginius is silver. Both are fully permitted for production.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA 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
http://www.aurcana.com/news/2021/index.php?content_id=481
basserdan
3 years ago
Aurcana Silver Corporation live webinar Monday, April 26, 4:05 PM EDT
Remains on track to deliver a ramp up to full production in the second half of 2021
Aurcana Silver Corporation (TSX-V: AUN, OTCQX: AUNFF) is the 100% owner of a fully permitted, prior producing Revenue-Virginius silver mine located in Colorado, US. The mine value is underpinned by the strong economics contained in an SRK-authored 2018 Definitive Feasibility Study. The known southerly extension of the Virginius vein holds the potential to more than double the existing resource base.
CLICK ON LINK TO REGISTER for the live webinar and alerts to the replay:
https://mailchi.mp/amvestcapital.com/join-us-aurcana-silver-live-webinar-fri-jan-8-1100-am-est-silver-leverage-near-term-production-q3-10136894?e=8622d71292
basserdan
3 years ago
Aurcana Silver Provides Construction Update for Its Revenue Virginius Mine
Vancouver, BC – February 18, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN; OTCQX: AUNFF) is pleased to provide a construction update for its Revenue Virginius Mine, (RV) 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.
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.
http://www.aurcana.com/_resources/news/nr-20210218-figure1-tn.jpg
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 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
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.
http://www.aurcana.com/news/2020/index.php?content_id=477
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