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Aurcana to commission processing plant at Shafter mine

Aurcana to commission processing plant at Shafter mine

Aurcana Corp. (CVE:AUN) reported late Thursday it plans to commission a processing plant at its Shafter mine and also finished the La Negra mine expansion.

Two months ahead of schedule, the Shafter mine has entered the final phase of construction and is under budget.

The silver explorer said commissioning of the processing plant is slated for April 1. It expects ramp up will take up to 90 days to
reach its 1,500 tonnes per day capacity.

Power will be supplied initially by generators and power station completion is expected by May 2012, the company added.

The Shafter silver mine rests in Presidio County, Southwest Texas. It has an NI 43-101 silver resource of 24.6 million ounces in the measured and indicated category, with 22.8 million ounces inferred. Production in the first year is forecast at 3.9 million ounces silver recovered.

In addition, the La Negra mine wrapped up its second consecutive mine expansion from 1,500 tonnes a day to 2,000 tonnes a day, which stayed on budget for a cost of $4.5 million.

Production is expected to jump to 176,000 tonnes from 130,500 tonnes in the second quarter of 2012, Aurcana said.

"We are pleased to be two months ahead of schedule and an estimated $1 million below budget at Shafter Mine," Aurcana chief executive Lenic Rodriguez said.

"With the completion of the expansion at La Negra to 2,000 tpd, Aurcana is on target to become a mid-tier silver producer and
anticipates 12 month production of 3.8 million ounces of gold from Shafter and 1.3 million ounces gold from La Negra."

The company’s share price rose nearly seven percent climbing to 92 cents each in trade on Toronto’s junior venture exchange.

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