Aurcana Silver Corporation (TSX-V: AUN, OTCQX: AUNFF) is the 100% owner of a fully permitted, prior producing Revenue-Virginius silver mine located in Colorado, US. The mine value is underpinned by the strong economics contained in an SRK-authored 2018 Definitive Feasibility Study. The known southerly extension of the Virginius vein holds the potential to more than double the existing resource base.
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• The Company owns 100% of the Revenue-Virginius Mine, a prior producing silver-gold-lead-zinc mine located in Ouray, Colorado

  • Fully permitted with a NI 43-101 compliant feasibility study (SRK Denver) level restart plan(1)

    • High grade >36 oz/st (1015 gpt) AgEq Reserves(1)(2) with 6+ years of reserves(1) plus additional resources and significant mine life extension and exploration opportunities identified

    • LOM AISC(3) US$8.00/oz Ag after by-product credits(1)(4)

    • c.US$37m full funding requirement including working capital(1), offset by ongoing development

    • C.3.1mm AgEq(1)(2) ounces p.a. generating cUS$20mm(1) p.a. of cash flow @ FS Price deck(2), which is well below current market prices

  • Existing mine, mill, and infrastructure benefit from >US$100M of investment since 2011

  • Underground development, long lead purchases in process

  • Dec 9, 2020, Aurcana Announces the Closing of US$28M Term Loan With Mercuria, Execution of 5 Year Offtake Agreement With Trafigura, and Board Decision to Restart the Revenue-Virginius Mine

  • Significant upside potential

    • Initial throughput target of 270tpd with mill nameplate capacity >400tpd allows for seamless scale up

    • On vein development should continue to convert Reserves;

    • Northern and southern strike extensions of the Virginius vein hold the potential to more than double the existing resource base which was based on 4,000 ft of Virginius vein strike

    • Recently acquired Blue Grass connects an additional 7,500 ft of Virginius vein strike length with drilling underway

• The Company also owns a second fully permitted prior producing silver mine near Marfa, Texas

• Management has a proven track record and significant narrow vein underground mining experience