AURCANA ANNOUNCES CLOSING OF BLUE GRASS CLAIM ACQUISITION
March 31, 2020
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Vancouver, BC March 31, 2020 - Aurcana Corporation ("Aurcana" or the "Company") (TSXV: AUN) is pleased to announce the closing of the Bluegrass claim acquisition previously announced in January 2020. As this claim allows for an extension of the Virginius North vein, the Company is looking forward to exploring and sampling on the Bluegrass claim to potentially add mineral resources within the current development plan. The technical team is currently evaluating cost/benefit approaches for this new land package.
Kevin Drover commented, No owner of the Virginius Vein since its patent in 1880 has been able to secure the Blue Grass claim
until now. This claim which was not included in the 2018 Feasibility Study provides Aurcana potential, additional near-term resources and its proximity to existing development could possibly improve the already robust economics of the project. We havent changed our base plan yet, but we will be studying ways to utilize this new claim to maximize value.
In aggregate, the Blue Grass acquisition provides the Company access to over 7,500 feet (2,286 meters) of additional high grade vein that is contiguous with the existing 4,000 feet (1,219 meters) of vein containing approximately 15 million measured and inferred silver ounces (80% of the Companys current mineral resource prepared in accordance with NI 43-101) at an average silver grade of approximately 22 ounces/ton. The current Virginius measured and inferred mineral resource is contained in approximately 4,000 feet (1,219 meters) of contiguous strike length on the Monongahela, Virginius and Nada claims southeast of the Blue Grass. The Blue Grass claim has approximately 1,500 feet (457 meters) of strike length of the high grade Virginius Vein mapped on surface. In addition to the strike length contained in the Blue Grass, the Companys ownership of this important claim also provides access to on-vein development (underground) to over 6,000 feet (1,829 meters) of additional contiguous Virginius Vein strike length to the Northwest on claims already owned or controlled by the Company.
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