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(Wallace Refiners) – Aurcana (TSXV: AUN) reported Thursday that it is on track to deliver a ramp up to full production for its Revenue Virginius mine (RV), located in Colorado, in the second half of 2021.
Aurcana said it is fully funded for the RV mine restart including a robust contingency. Excess funding will be applied to potential value-added activities such as exploration of vein extensions, potential production volume increases, strategic regional consolidation, and Shafter value added activities.
According to the company, the current count of employees and contractors working at the site is approximately 130 people including 110 working directly for the RV mine.
The company added that significant progress has been made on #1 and #2 vertical raises to access the initial production stopes, and the vertical development sequence has been optimized to allow horizontal drifting to begin earlier on the lower (closer to rail level) production levels.
As for the processing facilities upgrades, Aurcana noted that all major pieces of equipment have been ordered and are either on-site or in transit. The mill foundation has been poured for the upgraded main mechanical feeder. Current expectations remain for mill commissioning and first ore through the mill in the third quarter of 2021.
Aurcana owns the Revenue-Virginius mine, in Colorado, and the Shafter-Presidio silver project in Texas, US. The primary resource at Shafter and Revenue-Viriginius is silver. Both are fully permitted for production.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
