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Aurcana Corporation Message Board

  • tranthor2004 tranthor2004 Jun 6, 2012 3:36 PM Flag

    Block 3/Gold exploration in Presidio Co.

    Looking at table 1.5 of the feasibility showed a M & I of 196K tons 4 oz cutoff grade in block 3.

    Recent drill report good, obviously.


    From same report:

    .30 oz of gold would be nice. :-)

    The Gleim Property, south of the Presidio mine, has the potential for structural-related silver and gold mineralization. GFMC drill hole SD 264 encountered 7 feet of 10 ounces silver per ton, 0.07 ounces gold per ton, 4 percent lead and 2 percent zinc at 393 feet. Drilling is needed to determine the width and length of this portion of the structure. Samples containing high gold values were reported taken at the east edge of the Gleim Property.

    Shafter Silver Project Aurcana Corporation
    lead-zinc veins (often with some minor gold values) with past production at the Montezuma, Chinati, Perry, Gleirn and MacDaniel workings.
    GFMC never followed up on a large zone of bedded and oxidized zinc mineralization that they discovered during their regional drill program. The north-south drill fence with SD 313, SD 316, and SD 317 intersected 6 feet of 10 percent zinc mineralization extending 1,200 feet down-dip from the Montezuma workings. Drill hole SD 313, located approximately 200 feet south of the old mine, encountered two 6-foot zones with 14 percent zinc and the bottom horizon contained 0.03 ounces gold per ton. A 4 percent to 6 percent zinc zone was also encountered in GFMC’s drill holes along strike in fences 2,000 feet to the east and 3,000 feet to the west from the Montezuma workings. The zinc mineral is described as smithsonite. Metallurgical test work is reported to be able to recover this oxidized mineralization.
    The last 30 years of exploration has encountered numerous gold intercepts of merit, but no follow-up work was undertaken. For instance, GFMC drill hole SD 301 encountered 6 feet at 0.52 ounces gold per ton mineralization at 943 feet near the top of the Permian Mina Grande formation (the main ore-bearing sedimentary horizon for the district). SD 301 was not offset with additional drilling.
    On both the east and west sides of the Red Hills intrusive, detailed chip sampling of mineralized outcrops of the Permian sediments was done by Duval and outlined significant zones of gold and silver anomalies. Twenty-eight sets of samples were taken and 18 of these sets had gold values that ranged from 0.005 ounces per ton to 0.33 ounces per ton. Silver values in 6 samples ranged from 2 to 21.2 ounces silver per ton. The mineralization is generally just below the Permian/Cretaceous contact and often associated with igneous sills and southwest-northeast structures.
    On both sides of the draw hosting the MacDaniel underground workings, drifts have been worked on strong structural mineralization. Sampling by RGMC on the north-dipping N75°W structure indicated plus 6 feet carrying 0.03 ounces gold per ton, 1.2 percent lead, and 13.2 percent zinc at the surface. These workings were driven prior to World War II, when gold was $30 per ounce and zinc was $0.12 per pound.
    Northwest trending structures at the MacDaniel workings and at the Sullivan Mine to the west of Shafter demonstrate values of up to 0.30 ounces gold per ton, 2 to 6 ounces silver per ton, 4 to 20 percent lead, and 3 to 10 percent zinc.

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    • This thread has many interesting and informative links to information about shafter and red hill area.

      Aurcana as the early mover in this area has many opportunities to expand their operations.

      Aurcana will be a cash flow machine for decades after they have consolidated their property rights in this trend. Note that Lenic has consolidated a good area around La Negra.

    • There is a lot of good information and sources in the conversation for new investors

    • Tosca has been in contact with Aurcana, who is developing the silver mine in Shafter.

      Hi Tranth,

      Shenton is still the first and only acting president of Tosca so the validity or relevance of his words still hold some weight,I would think.
      http://www.toscamining.com/s/Management.asp

      Their project lies 11 kms or 7 miles from AUN's Shafter/Presidio site.I said seven kms earlier,so my bad.

      They have a 2.8 m market cap,no infrastructure but a core shack and a D8 with $1m for operating capital.

      The moly/cu deposit is massive and the associated Red Hills properties access option MAY be worth an infusion of AUN capital,alone.

      However,as illustrated on page 9 of the June Presentation,it looks like the mineralization that interests AUN is to the immediate west and up there in them hills.
      http://www.toscamining.com/i/pdf/presentation.pdf

      Shenton believes there may be some cooperation between the two companies.
      “We may do work with them, share equipment,” he said. “We’ll see when we get there. It would make sense we’d do something with them.”

      Copper mine in development near Shafter
      March 9th, 2011

      http://bigbendnow.com/2011/03/copper-mine-in-development-near-shafter/

    • Rholl,

      Dr. MeGaw will have sussed out the logical heat source location and already advised AUN to have acquire those lands - if they have not done so, already.

      Guess we will see soon enough as MeGaw is with AUN in part to locate 'the source'.As a 'Big Bend' boy born and raised you have to know he is salivating at the chance to locate the motherlode.

      Good work.

      Matt

      The Red Hills porphyry copper deposit and the Sullivan lead-silver occurrence define the west
      end of the district. However, recent theories about caldera mineral control indicate that potential
      mineralization could exist further to the west. It is believed that possible buried intrusives near
      Red Hills and south and east of Red Hills are the heat source for the hydrothermal solutions
      whose metals formed the currently identified mineral deposits in the district.

    • Hi Matt and Tran,

      This prior thread in June is relevent to the topic of gold and other mineralization in the trend. We noted many occurences of gold,lead,zinc,copper and Moly. These all seem to be to the West.
      In different documents the geological descriptions of the Red Hills trend they talk about a dome type structure with down sloping outer fringes. The Presideo and Shafter deposits seem to fit this description to a "T".
      Shafter being a lateral outflow of a pretty good sized chimney/chimneys system of hydrothermal sources ( probably similar to the chimney structures that make up La Negra and massive enough to send truely large flows of metals). The small mines...Gliem, Mackenzie, etc to the west and north of Aurcana's property are probably small spider veins eminating from the source/sources.

      The biggest heat source is the very large copper/Moly intrusion called the Red Hills. (Tosco optioned the property and some surrounding sections)
      Somewhere around that huge moly deposit (heat source evidence) would seem to be the large chimney feeder system.

      "SHAMELESS PLUG" Aurcana aught to pick up a minority interest at least and possibly a majority interest in Tosco to gain access to their property [note also other sections that we have pointed out in other posts].
      Tosco (total market cap of less than 4.5 million), could be purchased for pretty cheap cash/stock investment and would double Aurcana's property control and facilitate other mineral rights transactions and further exploration for the feeder sources.

      Once you have a commercially viable operation as Aurcana has with Shafter these satelite occurances (around old Gliem, MacKenzie, Sullivan mines, old drill hole results,surface sampling,etc.)of gold,lead, zinc, etc. could become viable supplements to mill feeds. As noted in other posts numerous locations around the trend,have gold samples with .33 and .50ozs gold per ton and associated lead,zinc, etc.
      We get excited about contaminated ore with .001 to .003 gold. There are chip samples, old drill cores and mines from around the trend with over 100 times that.

      • 4 Replies to rholl49oswego
      • New shareholders should read this old thread and follow the sources in various postings.
        My current thinking is that as Aurcana's stock starts to perform here... Lenic will make several acquisitions using a very hot stock.

        Tasco (TSMNF) and several surrounding blocks that Aurcana does not control are probably the hydrothermal sources for the lateral outflows that comprise the Shafter deposit.

        If investers read some of the historical data and information from prior drill results found in many documents they will understand the potential in this area.

        Tasco has a multi billion dollar Moly/Copper resource. Surrounding blocks have many hits for Copper, lead, zinc, silver and gold from widely spaced regional drill holes.

        15-25 million shares would probably buy Tosca and the surrounding blocks with minimal dilution. Billions of Moly and copper plus many exploration targets to feed the Shafter mill.

      • Here is some of the relevent info from the feasibility study:
        The Gleim Property, south of the Presidio mine, has the potential for structural-related silver and
        gold mineralization. GFMC drill hole SD 264 encountered 7 feet of 10 ounces silver per ton,
        0.07 ounces gold per ton, 4 percent lead and 2 percent zinc at 393 feet. Samples containing high gold
        values were reported taken at the east edge of the Gleim Property.
        Although the original drill core has been lost, the paper drill logs indicate that there is a zone on
        the east edge of the porphyry, which grades 6 percent copper over a vertical distance of 110
        feet.
        The Red Hills porphyry copper deposit and the Sullivan lead-silver occurrence define the west
        end of the district. However, recent theories about caldera mineral control indicate that potential
        mineralization could exist further to the west. It is believed that possible buried intrusives near
        Red Hills and south and east of Red Hills are the heat source for the hydrothermal solutions
        whose metals formed the currently identified mineral deposits in the district.
        These solutions traversed along regional structures trending N70°E which bound the Shafter-
        Presidio deposit. This regional fabric also hosts a bedded zinc deposit and several high-grade
        lead-zinc veins (often with some minor gold values) with past production at the Montezuma,
        Chinati, Perry, Gliem and MacDaniel workings.
        GFMC never followed up on a large zone of bedded and oxidized zinc mineralization that they
        discovered during their regional drill program. The north-south drill fence with SD 313, SD 316,
        and SD 317 intersected 6 feet of 10 percent zinc mineralization extending 1,200 feet down-dip
        from the Montezuma workings. Drill hole SD 313, located approximately 200 feet south of the
        old mine, encountered two 6-foot zones with 14 percent zinc and the bottom horizon contained
        0.03 ounces gold per ton. A 4 percent to 6 percent zinc zone was also encountered in GFMC’s
        drill holes along strike in fences 2,000 feet to the east and 3,000 feet to the west from the
        Montezuma workings.
        The last 30 years of exploration has encountered numerous gold intercepts of merit, but no
        follow-up work was undertaken. For instance, GFMC drill hole SD 301 encountered 6 feet at
        0.52 ounces gold per ton mineralization at 943 feet near the top of the Permian Mina Grande
        formation (the main ore-bearing sedimentary horizon for the district). SD 301 was not offset with
        additional drilling.
        On both the east and west sides of the Red Hills intrusive, detailed chip sampling of mineralized
        outcrops of the Permian sediments was done by Duval and outlined significant zones of gold
        and silver anomalies. Twenty-eight sets of samples were taken and 18 of these sets had gold
        values that ranged from 0.005 ounces per ton to 0.33 ounces per ton. Silver values in 6 samples
        ranged from 2 to 21.2 ounces silver per ton. On both sides of the draw hosting the MacDaniel underground workings, drifts have been
        worked on strong structural mineralization. Sampling by RGMC on the north-dipping N75°W
        structure indicated plus 6 feet carrying 0.03 ounces gold per ton, 1.2 percent lead, and 13.2
        percent zinc at the surface. These workings were driven prior to World War II, when gold was
        $30 per ounce and zinc was $0.12 per pound.
        Technical Report on Shafter Feasibility Northwest trending structures at the MacDaniel workings and at the Sullivan Mine to the west of
        Shafter demonstrate values of up to 0.30 ounces gold per ton, 2 to 6 ounces silver per ton, 4 to
        20 percent lead, and 3 to 10 percent zinc.

      • Rholl,

        You are definitely on top of it.

        Tosca expressed an open interest from the outset to partner up with AUN in some fashion to assist in expediting their project.
        Tosca hit seven cents this week-why not just scoop up the property or extend a few million for a percentage?

        I know of an industry insider that will interview Lenic this week and I sent him the following as per your suggestions:

        Hi again xxxxxxxxxxx,

        Could you please ask Lenic Rodriguez if AUN has any interest in picking up the moly/copper project just 7 kms west of Presidio?
        The deposit is owned by Tosca Mining but has drifted to a low of 7 cents with just 40 million shares o/s.
        Tosco has- from their inception- expressed a positive attitude to and possible synergy combo with Aurcana.
        Why not just buy out the majority of shares or make an offer and buy up the deposit and the associated lands that Tosca retain?
        It would be an inexpensive,viable acquisition that will also provide what may prove to be valuable exploration land in and around Presidio/Shafter/Red Hills.
        Many thanks,
        Matt

    • Just interesting that someone bought 100,000 shares at the open today.
      $9,000 no big deal.
      If a few million shares change hands in the future that might mean something.
      this is all pure speculation on potential situations developing as Tasco has to finance their feasability and mine developement over the next few years.

    • The Shafter district lies on the southern edge of a Caldera (core of an old volcano)This whole area has volcanic intrusions (moly, copper,Rhenium,etc)and hydrothermal penetration along faulting ( silver lead,zinc, gold)
      Lenic's team has the resources and technical knowledge to develop the potential of this whole area. (They just need to lockup ownership rights)

      My speculation... is that either stock or stock/cash takeover would double Aurcana's mineral rights in this potentially prolific area.[In May's presentation Lenic was not happy with stocks performance (more valuable currency)]

      Then in addition... Montazuma's section (west #319)and State owned and MacDonald owned mineral rights sections (south #1&6 [6 is next to Gliem I think])will probably be looked at acquiring, Sections 3 and 7 also. (Note Tasco has options to Blocks 3 and 7)

      I know the current climate is a little negative on commodities... however if you subscribe to Rheinhart/Rogoff's thesis... countries ultimately need to inflate their debt away. Inflation is good for our investments.

    • <<<Tasco needs money to get to the feasability and financing stage of developement.
      Speculation... Lenic might provide some financing for equity stake and mineral interests in some of their blocks. ( would still want the Montezuma block and others we noted)
      There are a great many occurances in this area and old high grade small mines. They may be all connected to the same plumbing system.>>>

      Rholl,

      You beat me to them, lol. I was planning to purchase shares with some profits from Aurcana. I figure Toscana would drift down with the funds required to continue exploration. 5.2M I think I read was recquired. Dilution with a negative price bias but perhaps positive price appreciation with the project moving forward.

      Red Hills Copperr acquired the property from RGMC before Lenic came aboard. Too bad.
      I think you are spot on with the Lenic thinking. Good way for him to get his foot in the door. Your suggestion is what was perculating in my mind higher up this thread. I thought I read somewhere that Lenic had thoughts of Barrick grandeur.

      I noticed also that Rhenium was in high concentrations 0.5-1.0 ppm of 500 ft. vertical thickness throughout.

      http://en.wikipedia.org/wiki/Rhenium

      As far as Montezuma...does that include the Gleim mine? High concentrations of gold there from historic exploration. Let's lock it up.

    • <<<Gold Fields identified a silver “resource” at the Shafter silver deposit adjacent to the Presidio mine of 29.68 million ounces of silver with a grade of 7.6oz Ag/ton at a cutoff of 3oz Ag/ton
      plus a ****“potential open-pit resource” of about 3 million ounces of silver averaging about 6oz Ag/ton**** (Rio Grande Mining Co., 1998a).>>>

      <<<From the feasability report...
      "Drilling in 1998 by RGMC explored shallow mineralization immediately east of the Mina Grande Fault based on mineralization of surface outcrops."

      Table 12-1
      Aurcana Corporation - Shafter Silver Mine Exploration Drill Hole Summary
      Drill Hole Type, Number Of Holes, Total Footage, Number Of Samples

      Block Groups III, IV & V
      RG (RGMC surface holes) 89 6,208 783
      The 89 holes averaged 70 Feet deep.
      It appears that the 3 million silver ozs reference came from these drill results.
      This is all non compliant ore not in the Shafter resources and feasability report numbers.>>>

      I was thinking about those drill results, so I went back and saw the Gold Fields potential of 6oz average for 3M oz's of silver. My mind saw 60 not 6 because of the oz. 36 oz is a far cry from the the combined avg. of 2.2 recently pulled out. That just seems awfully high. But, the man said they were extremely excited about what was coming up out of the pit. 70 feet deep drill holes. They could not be below that yet. I wonder if he was talking about core section that averaged 36 oz while I was talking about the open pit? He mentioned something about pillars...being mixed in? Trying to remember. Does that make any sense?

      Regardless, he did confirm the gold was still there and like you say while non-compliant it still extends mine life. I think P&P is going to be a big upside surprise when all is said and done.

    • From the feasability report...
      "Drilling in 1998 by
      RGMC explored shallow mineralization immediately east of the Mina Grande Fault based on mineralization of surface outcrops."

      Table 12-1
      Aurcana Corporation - Shafter Silver Mine Exploration Drill Hole Summary
      Drill Hole Type, Number Of Holes, Total Footage, Number Of Samples

      Block Groups III, IV & V
      RG (RGMC surface holes) 89 6,208 783
      The 89 holes averaged 70 Feet deep.
      It appears that the 3 million silver ozs reference came from these drill results.
      This is all non compliant ore not in the Shafter resources and feasability report numbers.

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