Thursday, April 26, 2012

Aurcana One Step Closer to Mid-Tier Status

Aurcana Reports Record Production in Q1. Keep an eye on this one! They've got the Shafter silver mine in Texas coming online very shortly, which will produce 3.8 million ounces of silver in the first 3 years.

All we need to do now is change the name to "Aurcana Silver" !

I am long AUN.
"Thu Apr 26, 2012
Aurcana Reports: Record Silver Production at La Negra Mine

Aurcana Corporation ("Aurcana" or the "Company") is pleased to report silver production for Q1 2012 of 287,486 ounces compared to 240,275 in Q1 2011 , the largest quarter for silver production in Aurcana's history. Silver production for the first quarter of 2012 increased 19.6% compared to Q1, 2011. Silver Equivalent increased 29.3% to 492,864 for Q1 2012, compared to 381,146 in Q1 2011.

The average grade of silver increased 9% to 81 grams per ton in Q1, 2012, compared to 74 grams per ton in Q1, 2011.

Mill feed was 130,570 tonnes in Q1. Fifteen percent (18,948 tonnes) were from NI 43-101 Measured and Indicated Resources and 85% (111,622 tonnes) were from new discoveries or non-compliant resources. La Negra is now applying 43-101 standards in developing new mineralized zones to increase our compliant resources. A new compliant resource estimate will be released in the second quarter. Additionally, new ore zone development initiatives are being carried out on the Northwest Trend."

No comments:

Post a Comment