Aurcana Corp.

Published : December 14th, 2011

Discovers New Silver Mineralization at Depth at La Negra Mine

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discovers new silver

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discovers new silver

 


Aurcana Discovers New Silver Mineralization at Depth at La Negra Mine


VANCOUVER, BRITISH COLUMBIA - (Marketwire - December 13, 2011) - Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) ("Aurcana" or the "Company") is pleased to announce that underground drilling at the La Negra Silver-Copper-Lead-Zinc Mine, located in Querataro State, Mexico, has intersected new deeper mineralization below the 1920 m. level of the mine. This is the first time Aurcana has indentified significant amounts of mineralization at this depth.

Strong silver and copper values were encountered in holes IBX-02, 03, 04, 06, and 07 with the highest grade values ranging from 120/t Ag to 405gm/t/Ag and 1.18% Cu to 3.12% Cu.

The La Negra deposits are characterized by chimney and manto style deposits in skarn zones formed near the contact of limestone units and a large intrusive body.

One of Aurcana's key objectives at La Negra is to continue replacing and expanding the ore resources through a combination of underground drilling and development. Ten holes were drilled from four locations to trace the strike and dip extents of several moderately dipping, well mineralized beds (mantos) in the Breccia Norte Zone.

Lenic Rodriguez, President & CEO comments, "Annual exploration and development programs have continued to successfully replace ore as it is mined, since the operation was restarted, supporting successive mine production expansions from 1,000 tpd to 1500 tpd and then to 2000 tpd. Aurcana is modernizing its database in anticipation of a new 43-101 compliant reserve and resource estimate in early 2012."

>From the following table, multiple intercepts in holes IBX 01, IBX 03, and IBX 05 suggest two to three mineralized mantos. Additional drilling and development is planned to define the extents of the mineralized mantos. The La Negra operation has adopted and is applying NI 43-101 standards in order to certify a number of mineralized zones including the Breccia Norte. Currently only 3 of 28 known mineralized deposits have NI 43-101 compliant resources, however, 86% of the ore mined in 2011 came from historical resources which are non-compliant.

Selected intersected mineralized widths range from 2.15m to 51.45m with an average intersected width of 15.00 m and a length weighted average grade of 87gm/t Ag, 0.17% Pb, 2.00% Zn, 1,10% Cu. (table below)

BRECCIA NORTE INTERSECTIONS

DDH

From-To

Width (m)

Ag
g/t

Pb
%

Zn
%

Cu
%

IBX-01

5.00-11.10

6.10

63

0.21

1.33

0.40

"

19.80-26.10

6.30

50

0.08

4.92

0.58

"

45.95-48.90

2.95

44

0.15

3.87

0.42

IBX-02

2.30-14.30

12.00

69

0.13

1.71

0.89

"

17.60-24.85

7.25

43

0.01

0.16

0.97

"

26.55-28.80

2.25

405

0.55

1.08

3.12

IBX-03

1.45-10.35

8.90

120

0.25

2.23

1.53

"

30.20-34.40

4.20

94

0.03

0.23

1.44

"

45.65-52.40

6.75

102

0.19

1.23

0.60

IBX-04

0.90-7.00

6.10

203

0.45

0.88

1.95

IBX-05

4.20-10.65

6.45

80

0.21

2.88

0.99

"

22.40-29.45

7.05

91

0.19

2.06

1.38

IBX-6

4.05-10.55

6.50

172

0.41

2.93

1.18

IBX-07

4.55-6.70

2.15

297

0.96

10.20

2.24

IBX-08

4.00-55.45

51.45

56

0.07

1.02

1.11

IBX-09

1.70-11.50

9.80

62

0.12

2.91

0.62

IBX-10

21.80-27.70

5.90

98

0.26

6.95

1.37

1 Intersected widths do not represent true thicknesses

The underground drilling utilized company owned and operated drills and core was assayed by the mine laboratory which is operated by Minera La Negra personnel. Analytical QA-QC controls are maintained through the use of duplicates, blanks, and commercial standards.

About Aurcana Corporation:

The Company's shares are now also traded in the United States on OTCQX under the symbol "AUNFF". Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.

About Aurcana Corporation:

The Shafter Silver Mine is scheduled to start production within 6 months and it is estimated to produce 3.8 million ounces silver in the first year of operation. It has an NI 43-101 Measured and Indicated Resource of 24.6 million ounces of silver and an Inferred Resource of 22.8 million ounces of silver using a 4.0 ounce per ton cut off. The 92% owned La Negra silver-lead-zinc-copper mine has produced 1 million ounces of contained silver over the last 4 quarters.

The reader should be cautioned that the Company has not completed a feasibility study to confirm the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable.

This scientific and technical information contained in this news release has been reviewed by Andy Nichols, P.Eng., of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION

Lenic Rodriguez, President & C.E.O.

For further information, visit the website at www.aurcana.com.

NR-12-11

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

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.

Contact Information

Aurcana Corporation
(604) 331-9333
Toll Free: (866) 532-9333
(604) 633-9179 (FAX)
www.aurcana.com

Gary Lindsey
Corporate Relations
(720)-273-6224
gary@strata-star.com


 
 

discovers new silver

discovers new silver

discovers new silver

discovers new silver

 

Aurcana Corp.

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CODE : AUN.V
ISIN : CA0519185064
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Aurcana is a silver development stage company based in Canada.

Aurcana produces silver, copper, lead and zinc in Mexico, and holds various exploration projects in Mexico.

Its main assets in production are LA NEGRA and SHAFTER in Mexico.

Aurcana is listed in Canada and in United States of America. Its market capitalisation is CA$ 847 400 as of today (US$ 677 541, € 593 526).

Its stock quote reached its highest recent level on October 31, 1997 at CA$ 9.92, and its lowest recent point on November 03, 2022 at CA$ 0.01.

Aurcana has 84 740 000 shares outstanding.

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In the News and Medias of Aurcana Corp.
1/7/2010Aurcana Corp. (Tsxv: Aun): New Recommendation
Annual reports of Aurcana Corp.
2008 Annual Report
2007 Annual Report
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6/14/2013Amends Warrants Expiring June 30, 2013
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5/18/2010Appoints Chief Financial Officer
3/4/2010Appoints Financial Advisor
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12/18/2008Appointment of Director
5/16/2008Appoints Vice President of Operations
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4/12/2013Reports Year End Financial Results and Provides Operational ...
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12/2/2009Reports Positive Third Quarter Results
9/3/2009Reports Positive Second Quarter Results
12/3/2008Reports Third Quarter Results
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7/11/2012(La Negra)Reports: Record Silver Production, up 54% at La Negra Mine; ...
3/31/2012(La Negra)to Commission Plant at Shafter Mine and Completes Mine Expan...
12/14/2011(La Negra)Discovers New Silver Mineralization at Depth at La Negra Min...
4/8/2011(La Negra)Announces Record Silver Production, La Negra Production Expa...
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6/30/2009(Shafter)Positive Pre-Feasibility for Shafter Silver Mine 7.75 Millio...
6/3/2009(La Negra)Takes Control of Operations at the La Negra Mine: Expansion ...
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12/16/2014Aurcana Board Update
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2/6/2014Reports Fourth Quarter and 2013 Production Results
11/4/2013(Shafter)Shafter Update - Aurcana Appoints David Drips General Manage...
10/31/2013Provides Update
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5/16/2013Adopts Advance Notice Policy
4/15/2013Announces Share Consolidation Effective Apr 30, 2013
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