VANCOUVER, BRITISH COLUMBIA -(Marketwire - July 21, 2011) - Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) ("Aurcana" or the "Company") is pleased to report record silver production for Q2 of 2011 of 257,508 contained silver ounces. This is a 7% increase over the 240,275 silver ounces produced in Q1 of 2011, and a 41% increase over Q2 of 2010.
Total mill feed of 133,700 tonnes increased 31% compared to 94,201 tonnes for Q2 of 2010. Daily throughput averaged 1,504 tonnes per day for 89 mill days, an increase of 7 operating days over Q2 of 2010.
This is the third consecutive quarter that the mill average daily throughput has exceeded the 1,500 tonnes per day design capacity of the plant, confirming the success of the 2010 expansion.
Of 133,700 mill feed tonnes, 14% (19,196 tonnes) were from NI 43-101 Measured and Indicated Resources and 86% (115,504 tonnes) were from new discoveries or non-compliant resources. La Negra is now applying 43-101 standards in developing new mineralized zones to make more resources compliant. New ore zone development is initially focusing on the Northwest Trend.
Decline portal steel sets and concrete structure completed in July 2011
Crushing and screening plant to be delivered in July 2011
Ball Mill foundations to be complete in August 2011
Ball Mill to be delivered in August 2011
Fine ore reclaim tunnel to be completed in August 2011
Six leach tank foundations complete, and leach tanks to be delivered in August 2011
Evaporation pond civil work to be completed in July 2011 and pond liner to be installed in August 2011
MSHA Quarterly Inspections commenced in July 2011
Modification to existing permits continues on schedule
During Q2 of 2011 Aurcana made further improvements at its La Negra Mine, with higher production, improved copper concentrate quality and the addition of a lead circuit. The Company advanced the permitting process at Shafter and continued construction of the Shafter mine on schedule. Aurcana continues to focus on its future growth.
On April 19, 2011, Aurcana commenced trading on the OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
The Company trades in the United States on OTCQX under the symbol "AUNFF".
About Aurcana Corporation:
The Shafter Silver Mine is scheduled to start production within 9 months and will produce 3.8 million ounces silver in the first year of operation. It has an NI 43-101 Measured and Indicated Resource of 24.6 million ounces of silver (2,900,000 tons at 8.48Ag opt) and an Inferred Resource of 22.8 million ounces of silver (2,167,000 tons at 10.52 Ag opt) using a 4.0 ounce per ton cut off. The 92% owned La Negra silver-lead-zinc-copper mine has produced 1 million ounces of contained Silver over the last 4 quarters.
The reader should be cautioned that the Company has not completed a feasibility study to confirm the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President & CEO
For further information, visit the website at www.aurcana.com.
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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