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Silver junior Aurcana gains 12% on 50-fold rise in resource estimates

Marc Howe | August 29, 2012 | 2:02 am Precious Metals Canada Latin America Silver 

Shares in Canadian silver junior Aurcana (TSX:AUN) leapt 12% to CND$1.05 after the company announced a radically updated estimate for resources in its La Negra Mine in Mexico.

According Aurcana’s press release the updated resource estimate ‘shows a 50-fold increase from the prior Measured and Indicated resource estimate of 2.3 million ounces of silver to the current estimate of over 115 million ounces of silver.’

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