New mineralization at La NegraAurcana Discovers New Silver Mineralization at Depth at La Negra Mine
09:00 EST Tuesday, December 13, 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2011) -Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF)(PINKSHEETS:AUNFF)("Aurcana" or the "Company") is pleased to announce that undergrounddrilling at the La Negra Silver-Copper-Lead-Zinc Mine, located inQuerataro State, Mexico, has intersected new deeper mineralization belowthe 1920 m level of the mine. This is the first time Aurcana hasindentified significant amounts of mineralization at this depth.
Strong silver and copper values wereencountered in holes IBX-02, 03, 04, 06, and 07 with the highest gradevalues ranging from 120/t Ag to 405gm/t/Ag and 1.18% Cu to 3.12% Cu.
The La Negra deposits are characterized by chimneyand manto style deposits in skarn zones formed near the contact oflimestone units and a large intrusive body.
One of Aurcana's key objectives at La Negra is tocontinue replacing and expanding the ore resources through a combinationof underground drilling and development. Ten holes were drilled fromfour locations to trace the strike and dip extents of several moderatelydipping, well mineralized beds (mantos) in the Breccia Norte Zone.
Lenic Rodriguez, President & CEO comments,"Annual exploration and development programs have continued tosuccessfully replace ore as it is mined, since the operation wasrestarted, supporting successive mine production expansions from 1,000tpd to 1500 tpd and then to 2000 tpd. Aurcana is modernizing itsdatabase in anticipation of a new 43-101 compliant reserve and resourceestimate in early 2012."
From the following table, multiple intercepts inholes IBX 01, IBX 03, and IBX 05 suggest two to three mineralizedmantos. Additional drilling and development is planned to define theextents of the mineralized mantos. The La Negra operation has adoptedand is applying NI 43-101 standards in order to certify a number ofmineralized zones including the Breccia Norte. Currently only 3 of 28known mineralized deposits have NI 43-101 compliant resources, however,86% of the ore mined in 2011 came from historical resources which arenon-compliant.
Selected intersected mineralized widths rangefrom 2.15m to 51.45m with an average intersected width of 15.00 m and alength weighted average grade of 87gm/t Ag, 0.17% Pb, 2.00% Zn, 1.10%Cu.(table below)
BRECCIA NORTE INTERSECTIONS
|
| DDH |
From-To |
Width
(m) |
Ag
g/t |
Pb
% |
Zn
% |
Cu
% |
| IBX-01 |
5.00-11.10 |
6.10 |
63 |
0.21 |
1.33 |
0.40 |
| " |
19.80-26.10 |
6.30 |
50 |
0.08 |
4.92 |
0.58 |
| " |
45.95-48.90 |
2.95 |
44 |
0.15 |
3.87 |
0.42 |
| IBX-02 |
2.30-14.30 |
12.00 |
69 |
0.13 |
1.71 |
0.89 |
| " |
17.60-24.85 |
7.25 |
43 |
0.01 |
0.16 |
0.97 |
| " |
26.55-28.80 |
2.25 |
405 |
0.55 |
1.08 |
3.12 |
| IBX-03 |
1.45-10.35 |
8.90 |
120 |
0.25 |
2.23 |
1.53 |
| " |
30.20-34.40 |
4.20 |
94 |
0.03 |
0.23 |
1.44 |
| " |
45.65-52.40 |
6.75 |
102 |
0.19 |
1.23 |
0.60 |
| IBX-04 |
0.90-7.00 |
6.10 |
203 |
0.45 |
0.88 |
1.95 |
| IBX-05 |
4.20-10.65 |
6.45 |
80 |
0.21 |
2.88 |
0.99 |
| " |
22.40-29.45 |
7.05 |
91 |
0.19 |
2.06 |
1.38 |
| IBX-6 |
4.05-10.55 |
6.50 |
172 |
0.41 |
2.93 |
1.18 |
| IBX-07 |
4.55-6.70 |
2.15 |
297 |
0.96 |
10.20 |
2.24 |
| IBX-08 |
4.00-55.45 |
51.45 |
56 |
0.07 |
1.02 |
1.11 |
| IBX-09 |
1.70-11.50 |
9.80 |
62 |
0.12 |
2.91 |
0.62 |
| IBX-10 |
21.80-27.70 |
5.90 |
98 |
0.26 |
6.95 |
1.37 |
| 1Intersected widths do not represent true thicknesses |
The underground drilling utilized company owned andoperated drills and core was assayed by the mine laboratory which isoperated by Minera La Negra personnel. Analytical QA-QC controls aremaintained through the use of duplicates, blanks, and commercialstandards.