Vancouver, BC, October 19, 2015 – Aurcana Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF) is pleased to report the Q3 2015 production results of 842,334 ounces silver equivalent compared to 997,530 in Q3 2014, a decrease of 16%. Silver production decreased by 15% to 348,764 in Q3 2015, compared to 412,063 in Q3 2014. Although milling and mining production increased during the third quarter, production occurred in lower grade areas of La Negra mine.
LA NEGRA THIRD QUARTER PRODUCTION HIGHLIGHTS
- Total silver equivalent production was 842,334 ounces in Q3 2015, a 15.6% decrease over Q3 2014.
- Silver production was 348,764 in Q3 2015, compared to 412,063 in Q3 2014, a decrease of 15.4%.
- Average silver grades decreased to 55 g/t in Q3 2015 compared to 65 g/t in Q3 2014, however increased from 52 g/t in Q2 2015.
- Mineralization mined was 244,492 tonnes in Q3, 2015, compared to 217,011 in Q3, 2014, a 12.7% increase. Mineralization milled was 241,382 tonnes in Q3, 2015 compared to 235,485 in Q3, 2014, a 2.5% increase.
- Copper, lead and zinc grades also decreased in Q3, 2015 compared to Q3, 2014 as planned production occurred in lower grade areas of the mine.
RESTRUCTURING TRANSACTION
As follow up to the financial restructuring press release from Friday, October 16, 2015, Kevin Drover, President & CEO of Aurcana Corporation will host a conference call on Wednesday, October 21, 2015 at 11:00 am eastern time. Below is the information for joining the call:
Conference Call Numbers:
Canada & USA Toll Free Dial In:1-800-319-4610
Outside of Canada & USA call: +1-604-638-5340
Callers should dial in 5 – 10 min prior to the scheduled start time and ask to join Aurcana’s conference call.
Conference Call Replay Numbers:
Canada & USA Toll Free: 1-855-669-9658
Outside Canada & USA Call: +1-604-674-8052
Code: 2729 followed by the # sign
Duration: Available for two weeks until end of day Wednesday, November 04, 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.
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
For further information, visit the website at www.aurcana.com or contact:
Aurcana Corporation
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Gary Lindsey, Corporate Relations
Phone: (720)-273-6224
Email: [email protected]
NR-10-15
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. Fforward-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 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. 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, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Original Article: http://www.aurcana.com/news/2015/index.php?&content_id=383
