Aurcana Silver Provides Operations Update
Vancouver, BC – November 23, 2021 – Aurcana SILVER Corporation ("Aurcana" or the "Company") (TSXV: AUN; OTCQF: AUNFF) advises shareholders and the general market of a rock movement event at the Company’s wholly owned Revenue Virginius mine. No fatalities or injuries occurred, but ongoing operations will be temporarily impacted. The rock movement which occurred in the #2 Alimak Raise, which provided access to/from the stoping level for both men/materials as well as ore handing, will create a temporary material productivity limitation to underground production.
Following the incident, underground operations were temporarily suspended while the incident was investigated. Management has decided to use one of two raises solely as an ore/waste pass while using the other raise to provide access for people and materials. Operations have resumed, but this decision reduces the underground vertical transportation capacity by 50% until such time as the hoist in the #1 Raise, which is the long term primary conduit for men and materials, is fully operational.
Due to this change and based on the current cash resources available to the Company, management has decided to temporarily halt ongoing development activities other than those relating to the completion of the #1 Raise hoist and focus on concentrate production from the existing available stopes.
In addition, due to the temporary work curtailment, the Company has provided notice to employees in compliance with the WARN Act of 1988. The Company continues to operate but at a reduced capacity and is retaining personnel consistent with the current objectives.
The Company’s plans to manage operations are continuing to evolve and the Company cannot forecast what production levels may be achieved given the change to underground vertical transportation capacity. The Company will provide an update as soon as possible.
ABOUT AURCANA SILVER CORPORATION
Aurcana Corporation owns the Revenue-Virginius Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary resource at Shafter and Revenue-Virginius is silver. Both are fully permitted for production.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA SILVER CORPORATION
“Kevin Drover”
President & CEO
For further information, visit the website at www.aurcana.com or contact:
Aurcana Silver Corporation
850 – 789 West Pender Street
Vancouver, BC V6C 1H2
Phone: (604) 331-9333
Gary Lindsey, Corporate Communications
Phone: (720)-273-6224
Email: gary@strata-star.com
aurcana.com |
