Aurcana Delivers Highest Quarterly Production in History in Q4 2014
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 13, 2015) - Aurcana Corporation ("Aurcana" or the "Company") (TSX VENTURE:AUN)(AUNFF) is pleased to report the Q4 2014 production results of 1,000,214 ounces silver equivalent compared to 698,665 in Q4 2013, an increase of 43%, resulting in 3.7 million ounces of silver equivalent produced in 2014. Silver production increased 33% to 374,507 in Q4 2014, compared to 281,558 in Q4 2013.
"Mr. Kevin Drover, Aurcana's President & CEO, said. "With the price of metals dropping this year, we have focused on significant cost reduction programs to improve profitability at La Negra. Yet even with the cost reduction focus our team has achieved the best year ever in silver production reaching 3.7 million ounces of silver equivalent for 2014."
LA NEGRA FOURTH QUARTER PRODUCTION HIGHLIGHTS
* Total silver equivalent production was 1,000,214 ounces in Q4 2014, a 43.2% increase over Q4 2013 and the first time Aurcana has produced a million ounces of silver equivalent in one quarter, a significant milestone.
* Silver production was 374,507 in Q4 2014, compared to 281,558 in Q4 2013, an increase of 33%.
* The company produced 3.7 million ounces of silver equivalent in 2014, compared to 2.9 million in 2013, an increase of 29%.
* Milled tonnes per day during 2014 averaged 2,844 compared to 2,537 in 2013 a 12% increase.
* Silver grades increased slightly in Q4 2014 to 59 g/t compared to 58 g/t in Q4 2013.
* Strong production increases in 2014 versus last year for base metals, including 50.7% for Zinc, 31.7% for Copper and 23.8% for Lead.
LA NEGRA MINE OPERATIONS UPDATE
This past quarter represents a significant milestone for La Negra and Aurcana producing over one million ounces of silver equivalent in one quarter. Production controls have steadily improved including: grade control, dilution control and mining of higher grade areas of the mine.
Significant progress at the La Negra Mine continues to be made in safety.
Cost control measures, (workforce reduction, capital expenditure controls, inventory and direct purchase controls) implemented early in the 3rd quarter and continued through the 4th quarter have begun to show benefits. Continued cost reduction will occur in Q1, 2015.
Corporate
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
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with two properties: the La Negra Mine in Mexico and the Shafter Silver Project in Texas, US. The latter was put on care and maintenance in December 2013, in part due to depressed silver prices. The Company is developing new mining plans for both properties as it continues to work to improve margins and shareholder value. For further information, visit the website at aurcana.com
The technical information in this release has been reviewed by Jerry Blackwell (PGeo.), a Director and technical advisor to the Company and a Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
AURCANA CORPORATION
Kevin Drover
President & CEO
Contact:
Aurcana Corporation
(604) 331-9333
Toll Free: (866) 532-9333
(604) 633-9179
www.aurcana.com
Gary Lindsey, Corporate Relations
(720)-273-6224
gary@strata-star.com
ca.finance.yahoo.com
Dan  |
