|Thu Feb 4, 2010|
Drilling at La Negra Intercepts New Copper Rich Zones With Up To 1.88% Copper
|Aurcana Corporation ("Aurcana" or the "Company") is pleased to announce that underground drilling at the La Negra silver-copper-lead-zinc Mine, located in Querataro State, Mexico, has intersected several new mineralized zones. Eleven holes, for a combined total of 1,460m, were drilled to trace the strike and dip extents of three well mineralized mantos that have now been collectively named the Cobriza Zone. Intersected widths (see table below) range from 2.05m to 20.05m with an average intersected width of 9.40m and a length weighted average grade of 0.82% Cu. High copper values up to 1.88% Cu and low lead-zinc content are more common in two of the mantos, while the third exhibits excellent silver values up to 301 g/t Ag and somewhat lower copper grades. |
COBRIZA ZONE -- DIAMOND DRILL INTERSECTIONS
2 Penoles historical drill holes
Multiple intercepts in the holes suggest down dip continuity of mineralization within the three mantos over 70-80m and a lateral strike extent ranging from 40-70m with substantial intersected widths as indicated in the table above. Additional drilling is necessary to further define the extents of the mineralized mantos in order to calculate a resource, however the potential for delineating an additional 200,000-300,000 tonnes of well mineralized material using a more conservative average width of 7.5 m grading between 0.6-1.0% Cu appears reasonable. Cobriza mineralization is already contributing to daily production.
Initial drilling was designed to follow up high copper values in several historic Penoles drill holes (BNO Series). The La Negra deposits are composed of chimney and manto type deposits in skarn zones formed at the contact with limestone units and intrusive rocks. Drilling at La Negra by Aurcana continues to define new mineralized zones. Since acquisition of the La Negra Mine, the operation has identified the following four new zones which are currently in production; Trinidad mantos, Luisa Breccia, Sofia mantos, and most recently the Cobriza mantos. The La Negra Mine area is now host to 27 deposits.
The underground drilling was conducted with a drill owned and operated by Minera La Negra, and core was assayed by the mine assay laboratory which is operated by Minera La Negra personnel. Analytical QA-QC controls are maintained through the use of duplicates, blanks, and commercial standards.
The reader should be cautioned the potential quantity and grade as disclosed herein is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource
About Aurcana Corporation:
The Shafter silver mine, upon completion of financing and permitting is scheduled to start up production in 2011 at 3.9 million ounces silver per year has a NI 43-101 measured and indicated resource of 24.6 million ounces of silver and an inferred resource of 22.8 million ounces of silver (using a 4.0 ounce per ton cut off), The 92% owned La Negra silver-lead-zinc-copper mine is on target to increase production to over 2 million ounces Silver Equivalent annually when expansion to 1,500 tpd is completed this year. The reader should be cautioned the Company has not completed a feasibility study confirming the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable. Ron Nichols, P.Eng. a Director and Senior Vice President for Aurcana, and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Lenic Rodriguez", President
For further information, visit the website at www.aurcana.com or contact:
Jack Barnes, Corporate Relations
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Caution Regarding Forward-Looking Statements -- This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, 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.
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.
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