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Aurcana plans to process first ore at Revenue Virginius in July

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(Kitco News) - Aurcana (TSXV: AUN, OTCQX: AUNFF) today provided a construction update and a production outlook for the remainder of 2021 for its Revenue Virginius Mine located near Ouray, Colorado.

According to the company’s statement, underground mine development is proceeding on schedule with three raises being driven vertically from the 2000 main haulage level 800 feet to the 1200 level.

Level (horizontal) development has commenced on the 1800 level to intersect the Virginius vein, which is scheduled to occur during the third week of May.  Following this, development will continue by driving drifts both north and south on vein for over 1000 feet to prepare for stope development. 

The company said that it is anticipated that four stopes will be available by year end 2021 (two stopes per level) to supply the processing plant. 

Aurcana noted that all processing plant upgrades will be completed by mid-June. Processing plant commissioning with water is scheduled for the last week of June with first ore through the processing plant in the second week of July.

Payable silver equivalent production for the period between August to December 2021 is anticipated to be 1,300,000-1,600,000 ounces at an estimated cash operating costs of between USD10.00 to USD12.00/oz silver after by-product credits.

Aurcana 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.

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