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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
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