Aurcana Corporation, a public company headquartered in Canada, announced Monday that it will be acquiring Ouray Silver Mines (OSM) by Nov. 2. A letter of intent was signed Friday between Aurcana and OSM’s current owner, New York-based Lascaux Resource Capital Fund.
The Alamos silver project contains a wide, high-grade epithermal vein system which has historically produced approximately 200 Moz of silver. The project has never been systematically explored, and so far, historical and Minaurum mapping and sampling work has identified 8 additional vein target zones.
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