Aurcana Corporation, a mining operations company, acquired Ouray Silver Mines (OSM) in December 2018. OSM owns 100% of the historic Revenue-Virginius mine and mining complex (“RV Mine”). The RV Mine is fully-permitted for immediate production and has recently completed a NI 43-101-compliant feasibility study in preparation for restart. With roots back to the mid-1800's, the RV Mine has produced over 26 million ounces of silver over its long history - most recently in 2015 - along with by-products of lead, zinc and gold. The feasibility study concludes that the project should be able to produce over 3 million silver equivalent ounces per year for a minimum of five years at an all-in sustaining cost of approximately US$10.71/oz. There is significant exploration upside in addition to the potential to convert substantial high grade inferred resources.
Ouray Silver Mines, as a stakeholder and dedicated member of our community, is committed to acting with consideration for the best interests of our employees, the local community, and the environment in every decision we make. We will endeavor at all times to maintain open, friendly relations with local community members, a safe, values-driven working environment for our employees, and to seek to protect the natural environment in which we operate.