Aurcana Announces Senior Management Appointments

December 7, 2012

Aurcana Corporation (“Aurcana” or the “Company”) (TSXV: AUN, OTCQX: AUNFF) is pleased to announce senior management appointments.

Mr. Lenic Rodriguez, President & CEO of Aurcana Corporation states: “I am very pleased to announce new senior management appointments that provide Aurcana with considerable mine development and operational experience as well as strengthen our management team. Their combined skills and experience will help Aurcana meet our growing needs as we work to become a senior silver producer.”

Senior Management Appointments

Dr. Sadek El Alfy has been appointed as Vice President Operations.

Dr. Sadek El-Alfy is a professional mining Engineer with 35 years of experience in underground as well as open pit mining on various continents. Recently he was responsible for mining operations in Venezuela and Uruguay for Crystallex International Corporation over a period of 12 years. In the past few years, he was also responsible for the completion of Feasibility Studies and Environmental Impact Studies for major mining projects in several South American countries as well as Mexico. Prior to his involvement in South American operations, Dr. El-Alfy was in charge of mining and concentrating operations at several locations in Canada including General Manager of the Iron Ore Company of Canada. Dr. El-Alfy is fluent in English, French and Spanish.

Mr. Ted Apodaca has been appointed as General Manager for Shafter Mine

Mr. Ted Apodaca has over 30 years of experience in Mining and General Construction that include mine development from start-ups to turn key operation, mine operation, mills construction as well as underground mining techniques and shafts sinking. He operated various mining operations in Brasil, Venezuela, Panama, Indonesia, Bolivia and Honduras. Mr. Apodaca is fluent in English, Spanish and Portuguese.

Ms. Sandy Hunter has been appointed as Corporate Secretary

Ms. Sandy Hunter has been in the corporate securities industry for over 15 years and has worked with a broad range of issuers both in a corporate secretarial capacity and as an account manager for registrar and transfer agents.

Mr. Catalin Chiloflischi has been promoted to the role of Corporate Communications Director.

Pursuant to the Company’s Stock Option Plan a total of 1,200,000 options to purchase shares at a price of $0.97 have been granted.

About Aurcana Corporation

La Negra Mine current installed capacity is 2,500tpd. In order to allow for an increase in future production, La Negra mine is now working to increase mill capacity to 3,000 tpd by end of Q1, 2013.
La Negra has a NI 43-101 M&I resource of 115.1 mm oz silver, 1,418.7 mm lbs Zn, 539.5 mm lbs Pb and 269.5 mm lbs Cu and an Inferred Resource of 56.5 mm oz silver, 657.4 mm lbs Zn, 263.0 mm lbs. Pb and 132.3 mm lbs Cu.
The Shafter Mine mill was commissioned on April 1, 2012 and is expected to commence commercial production in late Q4 2012. The Shafter Silver Mine is scheduled to produce 3.8 million ounces of silver over 12 months when is operating at 1,500tpd capacity. 
Shafter has a NI 43-101 M&I Resource of 23.9 mm oz of silver and an Inferred Resource of 22.8 mm oz of silver. 
(All National Instrument 43-101 technical reserve reports can be found on SEDAR at:
Aurcana continues to focus on its future growth

    Dec 07, 2012 07:26 AM

    Insider details……Sorry the lins length creates foldback.
    SEDI filings (by transaction date) for AUN within the last 6 months [?]
    Amended Filing
    As of 11:59pm ET December 6th, 2012
    Date Transaction
    Date Insider Name Ownership
    Type Securities Nature of transaction # or value acquired or disposed of Price
    Oct 12/12 Oct 11/12 Tweedy, Robert Direct Ownership Common Shares 10 – Disposition in the public market -198,400 $1.12
    Oct 12/12 Oct 10/12 Tweedy, Robert Direct Ownership Common Shares 10 – Disposition in the public market -151,600 $1.10
    Oct 11/12 Oct 10/12 Tweedy, Robert Direct Ownership Common Shares 51 – Exercise of options 350,000 $0.250
    Oct 11/12 Oct 10/12 Tweedy, Robert Direct Ownership Options 51 – Exercise of options -350,000 $0.250
    Oct 11/12 Oct 10/12 Aguirre, Adrian Direct Ownership Common Shares 51 – Exercise of options 150,000 $0.130
    Oct 11/12 Oct 10/12 Aguirre, Adrian Direct Ownership Common Shares 51 – Exercise of options 200,000 $0.285
    Oct 11/12 Oct 10/12 Aguirre, Adrian Direct Ownership Options 51 – Exercise of options -150,000 $0.130
    Oct 11/12 Oct 10/12 Aguirre, Adrian Direct Ownership Options 51 – Exercise of options -200,000 $0.285
    Oct 2/12 Sep 28/12 Huerta, Salvador Direct Ownership Common Shares 10 – Disposition in the public market -100,000 $1.23
    Oct 2/12 Sep 28/12 Aguirre, Adrian Direct Ownership Common Shares 10 – Disposition in the public market -66,824 $1.20
    Sign up for an account or login above to see all SEDI filings within the past 6 months.

      Dec 08, 2012 08:32 PM

      Looks like a couple of guys made a ton of money if they sold those shares when they exercised the options. Can’t fault anyone for doing that however as it is very common in our industry. Also common are very low, if any, salaries.

    Dec 07, 2012 07:37 AM

    Instead of just tacking on the tail of the Nov 13, 2012 update, it might have been a good idea to update it!
    Is Shafter now up and running?

    Dec 07, 2012 07:39 AM


    2 of the more interesting recent videos that I’ve viewed in a long time are posted on King World News this morning. One is by Eric Sprott who as you know has been accumalating like crazy for the past several years. Stephen Leeb supports your position for quality Junior miners. Both are more optimistic for AG vis a vis AU.

    In Doc We trust……………………………

      Dec 07, 2012 07:35 AM

      My current thinking is to treat Aurcana and Silvercrest like First Majestic type of companys. P/Es are starting to look good for entry points. Aurizon has a very low P/E now also and is at the bottom of its channel.


        Dec 07, 2012 07:36 PM

        Agreed! Dan

        Dec 08, 2012 08:40 PM

        In my opinion, Dan, these are two great little companies.

          Dec 08, 2012 08:35 PM

          My money is where my mouth is. Thanks for the great work Al and crew.


            Dec 08, 2012 08:56 PM

            Mine too, Dan! And, it always will be.

      Dec 08, 2012 08:35 PM

      Yep, “In Doc we trust”!

      I also like ag better than au and always have.

    Dec 07, 2012 07:45 AM


    An afterthought………………

    As you know, I’m really high on Pershing Gold (PGLC) as a junior miner. (This has nothing to do with our now, new, legal Marijuana initiative).

    Would be interesting if you could score an interview with the President-CEO (Previously with Barrick)of this company that adjoins Cour’s ? Rye Patch’s? Rochester Nevada holdings on the South. With their new mill and all permits in place, they plan on going into production in 2014 with their existing 4 open pits.

    Please do not construe this as investment advice as I generally buy high and sell low but am very slowly learning……………..

      Dec 07, 2012 07:37 PM

      Dr. Berry really likes Pershing too…DU

    Dec 07, 2012 07:19 PM

    Dai Uy;
    You do realize PGLC is only drilling on old waste piles from Newmont’s mining back in the 70s and 80s.
    The problem with that is while it may be profitable to process earlier waste to extract gold, there is absolutely NO CHANCE of hitting a bonanza discovery drilling waste piles.

    Dec 07, 2012 07:24 PM


    Not according to my info. Thet have just doubled their resource estimate and it is not based on their 80 acres leach pile and are doing a lot of drilling on their 24000 acre property.

    Dec 07, 2012 07:49 PM

    My error. Sorry Dai Uj,
    Although they did report on waste rocks in their evaluation as part of their potential resources. I had scanned the concentrations when I read the report snd because they were low I assumed it was all waste rock.
    Pershing Gold Corporation Reports Fall 2012 Drilling Program Expands Mineralized Zone 500 Feet Beyond Current Pit Boundaries at the Relief Canyon Mine
    LAKEWOOD, Colo., Dec. 4, 2012 (GLOBE NEWSWIRE) — Pershing Gold Corporation (OTCBB:PGLC) is pleased to announce the results of its Fall 2012 drilling program at the Relief Canyon Mine in Pershing County, Nevada. The results of this program are expected to contribute new ounces to the Relief Canyon resource estimate that Roscoe Postle Associates, LTD, USA is currently preparing and is expected to complete in December 2012.

    The drilling program was comprised of 83 holes (27,300 feet) and designed to accomplish three objectives: (1) to expand the resource in the Main Breccia Zone south of the existing South and Light Bulb Pits, the southernmost pits at Relief Canyon; (2) to evaluate the gold mineralization potential in a 1980’s-vintage waste rock dump; and (3) to drill a series of piezometer holes (well holes in which groundwater level may be determined) to define the depth to the water table in the vicinity of the pits. National Drilling completed the drilling program using standard reverse circulation procedures.

    In commenting on this drilling program, Stephen Alfers, Pershing Gold Executive Chairman, CEO, and President remarked, “We are very excited about this round of drilling which expands the area of mineralization in the Main Breccia Zone up to 500 feet to the south of the southern boundaries of the South and Light Bulb Pits. It also shows that there is mineralization exposed at the surface in all three pits and in the waste rock dump southwest of the pits.”

    Drill Results

    Table 1 (included below) presents the highlights of the drilling results; the drill hole locations are shown in Figure 1. Significant mineralized intercepts include RC12-040R with 55 feet of 0.046 ounces per ton (“opt”) gold (“Au”) (1.575 grams per ton (“gpt”) Au) from 105 to 160 feet and RC12-082R with 100 feet of 0.024 opt Au (0.822 gpt Au). Also notable are the number of holes shown with mineralization at and near the surface. The mineralization occurs on unpatented mining claims owned by Pershing Gold’s subsidiary, Gold Acquisition Corp., and on private lands that Pershing Gold sub-leases from Newmont USA Limited, doing business in Nevada as Newmont Mining Corporation (“Newmont”) (NYSE:NEM). Pershing Gold acquired these lands in April 2012 when it purchased Victoria Resources (US)’s/Victoria Gold Corp.’s (TSX-V:VIT) interests in Victoria’s 2006 mineral lease and sublease with Newmont. The leased lands are subject to an Area of Interest (“AOI”) with Newmont.

    Figure 2 shows the expanded area of mineralization in the Main Breccia Zone target type south of the South and Light Bulb Pits. This mineralized zone remains open to the south and west. As discussed in our press release dated July 12, 2012, this mineralized zone is also open to the west. The thickness of the Main Breccia Zone varies from 10 feet to more than 100 feet. The Company’s drill results indicate that this zone is typically mineralized and altered wherever it is encountered, with gold grades of 0.005 opt to more than 0.05 opt Au. Please refer to our press release dated July 12, 2012. [].

    Figure 1: Map featuring Pershing Gold’s Fall 2012 drill hole Location map is available at

    Figure 2: North-South cross-section through the North and South Pits at the Relief Canyon Mine is available at

    The Main Breccia Zone is developed at a fault contact between the Grass Valley and Cane Springs Formations. As shown in Figure 2, previous mining activities at Relief Canyon exploited – but did not exhaust – this mineralized zone. As described in our press release dated September 17, 2012, two other gold bearing zones are also present at Relief Canyon: the Lower Zone, which is approximately 200 feet below and sub-parallel to the Main Breccia Zone; and the Feeder Zones. Please refer to our press release dated September 17, 2012. []

    Waste Rock Dump Drilling Program

    The second element of the Fall 2012 drilling program was to determine whether the waste rock dump located in Section 20 southwest of the South Pit contains gold. Based on the results obtained from the 16 shallow holes drilled in this waste rock dump, Pershing Gold is encouraged that these previously mined rocks may become a future resource.

    The waste rock dump contains over 1 million tons of rock that was considered too low-grade to be placed on the heaps and leached when it was mined in the late 1980s, when gold prices varied from about $360 to $500 per ounce. At today’s gold prices, economic cut-off grades are significantly lower; consequently, this historic waste rock dump may have potentially mineable gold values. Significant intercepts in the waste rock dump include RC12-103R from 0 to 80 feet with 0.010 opt Au (0.342 gpt Au), RC12-104R from 0 to 70 feet with 0.009 opt Au (0.308 gpt Au), and RC12-106R from 35 to 65 feet with 0.10 opt Au (0.342 gpt Au).

    Depth to Groundwater Study

    The third component of the Fall 2012 drilling program was to drill nine holes that were completed as piezometers specifically designed to measure the depth to groundwater in the vicinity of the pits. Figure 1 shows the piezometer locations. Schlumberger Water Services of Reno, NV helped design and implement this hydrogeological investigation.

    In addition to providing data on the elevation of the water table directly below and near the three pits, several of the piezometers intercepted gold mineralization such as RC12-033R (located in the Light Bulb Pit) with from 0 to 125 feet with 0.012 opt Au (0.041 gpt Au), and RC12-094R (located in the North Pit) from 0-20 feet with 0.036 opt Au (1.23 gpt Au). The two southernmost piezometers (RC12-087R and RC12-088R), which are located well south of the South and Light Bulb Pits, also contain mineralized intercepts as shown in Table 1.

    Plans for the Remainder of 2012

    All drill results from the 127 drill holes (61,000 feet) that have been completed since late 2011 will be incorporated into a new resource estimate that is being prepared by Roscoe Postle Associates, LTD, USA. The new resource estimate is anticipated to be completed in December of 2012.

    The Company has initiated a detailed mapping exercise in the pits and adjacent areas to collect structural data that will help refine our understanding of the complex geology at Relief Canyon. Additionally, this work will identify new drill targets that we plan to test during the first half of 2013.

    Detailed geologic mapping and rock sampling of Pershing Gold’s extensive land position in the Pershing Pass area at the south end of the Humboldt Range is currently in progress. This work is expected to generate several drilling targets that will be tested in 2013.

    Plans for Early 2013

    The Company plans to continue its efforts to expand the gold resource at Relief Canyon in early 2013 with a diamond drilling program designed to extend gold mineralization in the Main Breccia Zone further to the south in Sections 20 and 21. This program will include some infill drilling along the margins of the North and South Pits.

    The Company plans also to continue the ongoing effort to refine its understanding of the Relief Canyon geologic system and the controls on mineralization. So far, this work has developed two new target concepts that are expected to be tested as part of the 2013 drilling program: (1) the potential for north-trending, steeply-dipping feeder zones north of the North Pit; and (2) whether thrust faults are one of the primary controls on mineralization and have potentially created stacked mineralized zones, (e.g.; the Main Breccia Zone mineralization on top of the Lower Zone mineralization). The Company plans to test this concept in 2013 with deep core holes south of the currently defined Lower Zone.

    “Since acquiring Relief Canyon in August 2011, Pershing Gold has significantly advanced this asset through a program of intensive and strategic exploration drilling and ongoing work focused on reopening the mine and heap leach processing facilities,” commented Stephen Alfers. “We are especially enthusiastic about the Fall drilling campaign which, along with Pershing Gold’s previous drilling, has shown that gold mineralization in the Main Breccia Zone is open to both the south and the west. The presence of gold in the historic waste rock dump, in the Feeder Zone and the Lower Zone presents the possibility that this material could add ounces to the resource. These three opportunities are among the low-hanging fruit that we intend to evaluate further with future drilling, sampling, and metallurgical testing.”

    Dec 07, 2012 07:49 PM

    Folks is is about AUN, go pump your penny stock on some other web site

    Thanks for the update Big Al

      Dec 07, 2012 07:23 PM

      Did someone tinkle on your corn flakes this morning?

    Dec 07, 2012 07:51 PM

    bah ment *this is about AUN*

    Dec 07, 2012 07:59 PM

    The problem that Aurcana may have that seems to have gotten little attention is that the old shaft is full of water. The landowners around the old mine are worried that the pumping will drop the water table and cause their wells to go dry. How this will work out is not clear yet…..

      Dec 08, 2012 08:32 AM

      This is where the highly paid CEO should earn his wage and compensation by getting to the issue before it appears on a news network.


    Dec 09, 2012 09:25 PM

    Well said,Dan,including the local press,state press and every mining publication going.
    Lenic is beyong extremely well paid so let’s hope he can begin to allow others to do important tasks that he seems reluctant to give up,but can not effectively tackle.
    The water issues are properly explained in the last M,D and A on sedar.
    Poindexter has issues,and they are not all water related but the recent buzz on Red Hills should isolate any position he may have thought he had.