VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 24, 2013) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(AUNFF) is pleased to report the results of the La Negra Mine 2012 underground drill program for drill holes that were not associated with the 43-101 Resource Estimate Report released on October 11, 2012.
Drill holes reported in the tables below indicate excellent intersected widths, and continuity of high grades in the Northeast Trend (Breccia Zone,1920 level) as well as the in Northwest Trend (Elia, 2300 level, Virginia, 2280 level). To view a plan of the La Negra ore bodies please visit our website at: http://www.aurcana.com/i/maps/La-Negra-Mine-3D.jpg.
- Hole Dvir-290 intersected 2.9 meters grading 466 gm/t Ag, 3.11% Pb, 4.25% Zn, 0.77% Cu including 15.1 meters grading 180 gm/t Ag, 1.33% Pb, 2.42% Zn, 0.37% Cu.
- Hole Dvir-292 intersected 28.05 meters grading 128 gm/t Ag, 0.49% Pb, 0.93% Zn, 0.85% Cu.
- Hole Dvir-302 intersected 5.15 meters grading 349 gm/t Ag, 1.75% Pb, 2.15% Zn, 0.71% Cu, and 6.6 meters grading 140 gm/t Ag, 0.89% Pb, 1.74% Zn, 0.17% Cu.
Eleven holes tested the continuity of the Virginia Zone below the 2280 level. Drill results indicate silver values range from 93 gm/t Ag to 466 gm/t Ag.
- Hole Dvir -292: 28.05 meters 128 gm/t Ag, 0.49% Pb, 0.93% Zn, 0.85% Cu and
- Hole Dvir - 302: two zones, 6.60 m 140 gm/t Ag, 0.89% Pb, 1,74% Zn, 0.17 % Cu and 5,15 m 349 gm/t Ag, 1,75 % Pb, 2.15% Zn, 0.71 % Cu.
Seventeen holes have defined the Elia Zone below the 2300 level. Intersected widths ranged from 1.15m to 15.75 m. and significant silver values range from 92 gm/t Ag to 180 gm/t Ag.
- Hole Deli - 319: 15.75 meters of 137gm/t Ag, 0.96 % Pb, 4.11 % Zn, 0.34 % Cu and
- Hole 339 - 9.85 m. grading 111 gm/t Ag, 0,42 % Pb, 0.63 % Zn, 1.35 % Cu.
The continuity of the Breccia Zone below the 1920 Level is well supported by the results obtained from eleven holes.
- Hole Lybx -12: 9.30 m. of 107 gm/t Ag, 0.39 % Pb, 1.47 % Zn, 0.51 % Cu.
- Hole Lybx -14:15.55 m. grading 108 gm/t Ag, 0.39 % Pb, 2.39 % Zn, 0.62% Cu.
La Negra Mine 2012 Drill Hole Results
|Virginia 2280 Level|
|Pb %||Zn %||Cu %|
|Elia 2300 Level|
|Pb %||Zn %||Cu%|
|Breccia 1920 Level|
|Pb %||Zn %||Cu %|
|Breccia 2000 Level|
|Pb %||Zn %||Cu %|
|Maravillas 2115 Level|
|Ag %||Pb %||Zn%||Cu %|
Quality Assurance - Quality Control
Cut core samples are registered on a chain of custody form and delivered directly to the reception section of the La Negra Mine Laboratory by the geology department on a daily basis.
Standard QA-QC procedures at laboratory include the use of duplicates, standards, and blank samples. A barren sample, a duplicate and a standard sample are routinely inserted for every 30 samples sent to the lab by the geology department. The mine laboratory also follows an internal verification program by inserting a check pulp sample for every 10 samples.
Gold and silver are analyzed by fire assay. Lead, zinc, copper, arsenic, bismuth, and antimony are assayed by Atomic Absorption. A standard sample from a qualified laboratory in Canada is inserted with every 15 samples for quality control. External analytical controls are maintained by sending 20-30 pulp samples per month to ALS Chemex in Vancouver.
The scientific and technical information contained in this news release has been reviewed by Nils von Fersen, P.Geo., Vice President of Exploration of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
About Aurcana Corporation
Arcana Corporation is an emerging senior silver producer with two operating mines located in Mexico and Texas, United States.
La Negra Mine, Mexico, current installed capacity is 2,500tpd. In order to allow for an increase in future production, La Negra mine is now working to increase mill capacity to 3,000 tpd by the end of Q1, 2013.
La Negra has a NI 43-101 M&I resource of 115.1 million (mm) oz silver, 1,418.7 mm lbs zinc, 539.5 mm lbs lead and 269.5 mm lbs copper and an Inferred Resource of 56.5 mm oz silver, 657.4 mm lbs zinc, 263.0 mm lbs. lead and 132.3 mm lbs copper.
Commissioning and mill testing of the Shafter Mine in Texas commenced on April 1, 2012 and commencement of commercial production was achieved in December 2012. The Shafter Silver Mine, according to the data from the published feasibility study, is expected to produce 3.8 million ounces of silver over 12 months once ramp up to its 1,500tpd capacity is completed.
Shafter has a NI 43-101 M&I Resource of 23.9 mm oz of silver and an Inferred Resource of 22.8 mm oz of silver. (All National Instrument 43-101 technical reserve reports can be found on SEDAR at: www.sedar.com).
Aurcana continues to focus on its future growth.
The Company''s shares are 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President & CEO
The scientific and technical information contained in this news release regarding the Shafter Silver Mine has been reviewed by Dr. Sadek El-Alfy, PhD, Vice President Operations, a Qualified Person ("QP") according to the definitions of NI 43-101.
Baltazar Solano-Rico and Betty Gibbs have reviewed the technical information reported in the National Instrument 43-101 technical reports regarding the La Negra Silver Mine. All National Instrument 43-101 technical reports can be found on the Company''s website at www.aurcana.com or on SEDAR at www.sedar.com.
Baltazar Solano-Rico (M.Sc., Geol. Eng.) and Mrs. Betty Gibbs (E.M., MSc.) of Behre Dolbear are the independent Qualified Persons pursuant to NI 43-101 for the Company. Mr. Nils von Fersen (PGeo), Vice President, Exploration is also certified Qualified Person of the company. The technical contents of this release have also been reviewed by Nils von Fersen for QP technical disclosures.
This news release contains certain forward-looking statements, including statements regarding forecast silver production, silver grades, recoveries, potential mineralization, exploration result, future plans and objectives of the Company and the business and anticipated financial performance of the Company. These statements are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Exploration results that include geophysics, sampling and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classified as a category of mineral resource. A mineral resource which is classified as "inferred" or indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company''s expectations include, among others, risks related to international operations, unsuccessful exploration results, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as 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. Accordingly, readers should not place undue reliance on forward-looking statements.
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