Aurcana Silver Corporation

Description

Aurcana Silver Corporation is a publicly traded mining and exploration entity based in Vancouver.

Its shares are listed on the TSX Venture Exchange under the symbol ‘AUN’.

Aurcana Silver Corporation owns and operates the Revenue-Virginius mine and the Shafter Silver mine Project.

The exploration company acquired the Revenue-Virginius mine in December 2018, when it acquired Ouray Silver Mines Inc.

The fully owned project was last operated in 2015.

Revenue-Virginius mine is located in Colorado, 5.5 miles southwest of Ouray. It is accessible via Country Road 361 and Montrose Airport.

The operations on this project are year-round and the infrastructure is efficient since there is access to local housing facilities for miners in nearby communities.

The firm says that the Revenue-Virginius mine was operated in 1880s till 1915. It further mentions that the closure of the project was due to a mill burndown.

Federal Resources and the Ranchers Exploration Groups conducted a sporadic exploration work in the 1930s, 40s, 60s and 80s.

The mine was acquired by the Sunshine Mining & Refining for extensive exploration work.

The property went through an ownership change a few times when Star Resources acquired it followed by Fortune Minerals. Both the owners reported to have heavily invested in the project.

Another significant metal producing site owned by Aurcana Silver Corp is the Shafter silver project in Texas. The project lies 375 kilometers southeast of El Paso within a historic mining district.

The site is linked to an efficient infrastructure both in the form of year-round access via paved highway and upgraded utility power.

The firm says that silver production at the Shafter Project was conducted during 1883 to 1942 and it was closed due to the falling silver prices and war act reportedly.

Aurcana Silver reportedly intends to develop and explore a previously discovered deep extension by Gold Fields in the late 1970s.