Source: The Daily Planet
Aurcana (AUN.V) has released the long-awaited resource update on the Shafter silver project in Texas, where it has run into huge difficulties a few years ago as Aurcana was unable to operate the mine at a profit. The mine operated for approximately one year in 2013, but was placed on care and maintenance more than two years ago.
The new measured and indicated resources now contain 11 million ounces of silver in 1.21 million tonnes of ore (with an average grade of in excess of 9 ounces of silver per tonne of rock) with an additional 870,000 tonnes of ore in the inferred resource category. This inferred resource has an average grade of 7.47 ounces of silver per tonne, resulting in 6.5 million ounces. The Shafter project now contains 17.5 million ounces of silver in all categories.
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