Toronto, Ontario–(Newsfile Corp. – January 9, 2018) – Canuc Resources Corporation (TSXV: CDA) (“Canuc” or the “Company“) is pleased to provide an update on exploration at the San Javier Silver-Gold Project in Sonora State, Mexico.
Several breccia targets have been exposed and sampled between Carranza (“Carranza Breccia”) to the SW and the Little Pit to the NE, a distance of over 1,500 meters. The Company has more than 400 samples in the laboratory, and complete results are expected by early February.
Recent mapping has shown that the areal extent of the breccia zones at Carranza may be much larger than originally estimated. The Carranza Breccia could extend over an area roughly 400 m by 100 m. The attached map shows the location of an 11 meter interval within this breccia zone, sampled in 2013, that averaged 238 g/t Ag and 0.72 g/t Au (press release dated April 13, 2017). Sixty meters to the ENE occurs another 6.5 m composite interval that averages 133 g/t Ag and 1.07 g/t Au (2013).
Also of significance is the Lydia vein/working, located on the SW end of Carranza Breccia just over 200 meters from the above-referenced intervals. A review of the 2013 sampling database shows that breccia had been identified in the Lydia mine workings and also on surface. Individual samples taken from the Lydia zone yielded anomalous values ranging from 164 g/t Ag & 1.78 g/t Au over 2.0 m to 1,240 g/t Ag & 7.07 g/t Au over 0.5 m. The Lydia workings were not systematically sampled in 2013, but detailed sampling was completed late in 2017. A breccia zone, up to 23 m across (apparent thickness) was noted in the lowermost adit.
Link to diagram representing size potential and historical sampling:
Further along the mineralized corridor, results obtained at the vein and footwall zone of the Jazmin working in 2017 yielded up to 197 g/t Ag and 1.15 g/t Au over 1.7 m. A nearby breccia in the footwall zone returned 698 g/t Ag over 2.0 m. At the northeastern end of the program area, the Little Pit returned a 3.8 m interval that averaged 477 g/t Ag and 0.41% Cu. These results represent high grade silver in veins over a distance of 2,000 meters along a north-easterly trend starting from the historical Santa Rosa mine workings.
“The recent exploration program, which has resulted in the exposure of a number of breccia zones and which demonstrates extension of the high grade vein system for more than 2 km to the northeast along strike, marks a significant advance for the Company. The recently uncovered breccia target at Carranza is now the largest exploration target at San Javier by far, and has become the immediate focus of exploration efforts,” stated Hub Mockler, Executive Chairman.
Canuc is a junior resources company whose principal focus is exploration and development of the San Javier Silver-Gold Project located 146 km east of Hermosillo in Sonora State, Mexico. The company also generates cash flow from natural gas production in Central West Texas, where Canuc has an interest in nine producing gas wells, and has rights for further in field developments.
John Nebocat, BSc (Geological Engineering), P. Eng, Vice President Exploration for Canuc, is the Qualified Person for the Company, as defined by NI 43-101, and has reviewed and approved the contents of this press release.
For further information, please contact Canuc Resources Corporation:
Disclaimer and Forward-Looking Statements
Forward-Looking Statements: This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”, “hope”, “may” and similar expressions, as well as “will”, “shall” and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include changes in the prevailing price of gold, the prevailing price of natural gas, the Canadian-United States exchange rate, amount of gas produced that could affect revenues and production costs. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Company’s annual financial statements and MD&A.