Aurcana Silver Corp V.AUN.H

Update on Aun

[Banman17]

I just talked with Ron Nichols to inquire how the scoping study has been progressing and he filled me in as follows.  Previous owners had the Shafter mine permitted already for production of 900 tons/day using shaft extraction of the ore.  Aurcana didn't have the contact number for these previous owners who I assume sold to Silver Std, but they are in Phoenix, and just contacted Aurcana to tell them about this information.  So Ron Nichols and a few others are flying down to Phoenix to get the details on the permitting that occured in the past, and although it cannot be use directly, (they had permitted for 900 tons/day originally via a shaft whereas Aurcana is permitting for 1500 tons/day) it will give a good basis for background information, especially when it comes to the tailings dam construction.  Aurcana does not want to overspend on that, but make a realisitc sized dam instead, and doing this correctly with as much background information as possible  will save money in the long run, by not overspending.   So they'll be going to Phoenix Thurs & Friday, and will be back next week.  After that, they'll get more of the info. to the engineer finishing up the scoping study so that they can get some accurate estimates as to how much they'll need to raise to finance the startup of Shafter.   The scoping study should then be out Mid-March.  I'll update again after I talk to Ron again next week.