The Canadian company Aurcana Silver Corporation is engaged in the exploration, development and mining of metallic raw materials. The company places a special focus on the precious metal silver.
Aurcana Silver Corp.’s major projects include the Revenue-Virginius Mine and the Shafter Silver Project. Both properties are wholly owned by the mining company.
Aurcana Silver Corp. shares are traded on the Canadian TSX Venture Exchange, where other Canadian mining companies such as Titanium Corporation and Axmin, but also Canadian research and development companies such as Burcon Nutrascience or Onex are listed.
The Revenue Virginius Mine
In 2018, the Revenue-Virginius Mine arrived in the U.S. through the acquisition of Ouray Silver Mines Inc. into the possession of Aurcana Silver Corporation. The mine is located in the southwest of the U.S. state of Colorado, near the small town of Ouray.
The Revenue Virginius mine was discovered as early as 1876. This is a polymetallic deposit from which around 3.1 million ounces of silver equivalent per year are to be produced in the future.
Only a few years after the discovery, production was already started at the Revenue Virginius mine. However, due to a flood, mining operations had to be stopped in 1906.
Thereafter, the Revenue Virginius Mine was dormant for many years until the mine was acquired by Star Mine Operations in 2011, which resumed production on a small scale in 2014. The collapsed silver price at the time ultimately led to another mine closure.
The mine is fully permitted for unrestricted production and a full feasibility study has also been completed. Once the necessary financing is in place, Aurcana Silver Corp. plans to begin silver production at the Revenue Virginius Mine.
The silver project Shafter
In the southwest of the US state of Texas lies the Shafter silver project. The site is located in the middle of a historic mining area. The Pesidio Mine, which is part of the project area, was already mining silver from 1883 to 1942. However, falling silver prices and the war years led to the mine’s closure.
In the late 1970s, Gold Fields discovered additional silver deposits in deeper regions of the mine area that have not been mined to date.
Aurcana Silver Corp. acquired the Shafter Silver Project in 2008 and, beginning in 2011, began construction of additional mill and mine facilities and development of an underground access to the untouched silver deposits.
Since 2013, the Shafter Silver Project has been substantially constructed and has been placed in maintenance and repair status. In 2018, the project was completely revised again and subsequently fully approved, so that mining can also begin at the Pesidio Mine.