Aurcana Reports Fourth Quarter and 2013 Production Results
February 06 2014 - 1:01PM
Marketwired
Aurcana Reports Fourth Quarter and 2013 Production Results
Provides 2014 Production Guidance
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) -
Aurcana Corporation ("Aurcana" or the "Company")
(TSX-VENTURE:AUN)(OTCQX:AUNFF) is pleased to report the Q4 2013
production results.
"We are pleased to report that La Negra once again delivered
another year of increased silver equivalent production,
outperforming 2012 by 14%. I want to thank our team at La Negra for
their continued efforts in achieving another successful year of
growth in production. La Negra team has also delivered by replacing
and expanding the current reserves through a focused program of
underground development and diamond drilling," commented Mr. Lenic
Rodriguez, Aurcana's President & CEO. "We continue to improve
operations and look to further increase production in 2014 to
between 3.75 to 4.1 million ounces of silver equivalent, a
potential increase of more than 40% over 2013. Looking ahead,
production planning has already commenced for 2015 at La Negra and
the goal is to reach 3,800 tpd production based on continuing
technical and financial studies."
LA NEGRA FOURTH QUARTER AND 2013 PRODUCTION HIGHLIGHTS
- Total silver equivalent production was 727,842 ounces in Q4
2013, a 16% increase over Q4 2012. Total silver equivalent
production was 2,893,235 ounces in 2013, a 14% increase over
2012.
- Total ore milled was 198,427 tonnes in Q4 2013, a 6% increase
over Q4 2012. Total ore milled was 825,013 tonnes in 2013, a 19%
increase over 2012.
- Total ore mined was 212,039 tonnes in Q4 2013, a 7 % increase
over Q4 2012. Total ore mined was 869,027 tonnes in 2013, a 30%
increase over 2012.
- The Company's production guidance for 2014 is between 3.75 and
4.1 million silver equivalent ounces, an increase of between 30% to
42% over 2013. This will be achieved by a maintaining an average
mill head grade of 65 g/t Ag, and by a milling throughput of 3,000
tonnes per day.
LA NEGRA MINE UPDATE
- During Q4 2013, the La Negra mill averaged 2,332 tonnes per day
(tpd). The lower than planned mill throughput during Q4 was the
result of delays in commissioning of the new copper concentrate
filter press that constrained throughput rates and mechanical
breakdowns in the mill, which included a small fire that damaged a
tertiary screen and a failure of one of the three mill motors all
of which impacted operations. The Company has implemented a
rigorous preventative maintenance and inspection program and
identified process component upgrades to significantly reduce
future issues with equipment failure.
- La Negra continued to mine more accessible higher grade copper
and zinc zones during Q4 2013, resulting in increased volumes of
copper and zinc concentrate. A new larger filter press for copper
concentrates was installed during Q4 2013, and is now operational.
The new filter press, together with repairs and upgrades to the
plant equipment, is designed to assist in increasing and
maintaining a production rate of approximately 3,000 tpd,
commencing in Q1 2014, and maintained through 2014. In Q4 2013,
mine development continued accessing new areas that will assist in
sustaining the higher production rates in the future. A larger
proportion of ore was sourced from the new development headings,
which subsequently increased dilution, and lowered overall head
grades processed during the quarter. In 2014, the Company plans to
access the higher silver grade mineralized zones in the upper
levels of the La Negra mine, which will require additional mine
equipment, together with ore pass and ventilation raise development
that will commence upon receipt of raise boring equipment in Q2
2014.
About Aurcana Corporation
Aurcana Corporation is a primary silver producing company with
two properties: the La Negra Mine in Mexico and the Shafter Mine in
Texas, US. The latter was put on care and maintenance in December
2013, in part due to depressed silver prices. The Company continues
to plan further expansion at its La Negra Mine and to focus on
surface exploration on its extensive land holdings in Maconi Mining
District.
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.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President & CEO
NR-14-1
Mr. Andrew Kaczmarek, a qualified person (as defined in
National Instrument 43-101) and the Company's Chief Operating
Officer, has reviewed and approved the scientific and technical
information contained in this release.
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.
This news release contains certain forward-looking
statements, including statements regarding future development and
operational activities at the La Negra Project. These statements
are forward-looking statements that involve various risks and
uncertainties.
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 general economic
conditions, including in particular metals prices, changes in the
availability of funding for mineral exploration and development,
the ability of the Company to pay its debts as they become due,
risks related to international operations, the ability of suppliers
to provide equipment, the availability of skilled labour,
conclusions of economic evaluations and changes in project
parameters as plans continue to be refined, and unanticipated
changes in key management personnel. 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 pursuant to applicable
securities laws. Accordingly, readers should not place undue
reliance on forward looking statements.
Aurcana CorporationLenic RodriguezPresident & CEO(604)
331-9333 or Toll Free: (866) 532-9333(604)
633-9179ir@aurcana.comwww.aurcana.comInvestor RelationsStrataStar
GroupGary Lindsey720-273-6224gary@strata-star.com
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