Canuc Resources Corporation

  • ISIN: CA1389093040
  • Land: .

Nachricht vom 15.06.2017 | 15:02

Canuc Announces Soil Results and Preparation of Drill Stations

DGAP-News: Canuc Resources Corporation / Key word(s): Miscellaneous

15.06.2017 / 15:02
The issuer is solely responsible for the content of this announcement.

Vancouver, British Columbia--(Newsfile Corp. - June 15, 2017) - Canuc Resources Corporation (TSXV: CDA) ('Canuc' or the 'Company') is pleased to announce the results of a soil sampling program recently completed on the San Javier project.

A total of 859 samples were collected and analyzed for multi-elements along the known trace of the San Javier Mineralized Corridor (SJMC). Forty-five lines, spaced fifty metres apart, were surveyed and sampled between the Polvorin mine portal and the NE end of property, a distance of 2,200 metres. The lines were between 300 m and 400 m in length, and samples were taken every 20 m along the lines.

Many elements displayed anomalous trends, including silver, lead, arsenic, bismuth, copper and zinc. The following link shows a layered pdf where the viewer can selectively toggle layers:

Statistical analysis shows that: 1) silver+lead, silver+arsenic, silver+antimony; 2) lead+arsenic, lead+antimony; 3) arsenic+antimony and 4) antimony+bismuth show strong correlations.

Silver anomalies follow the SJMC throughout the trend but expand around Cerro Colorado and where the Santa Rosa vein outcrops west of the Polvorin portal. Of significance is a new trend where the silver anomalies parallel the projection of a generally NNE-SSW trending fault that crosscuts the SJMC and Santa Rosa workings. A similar fault passes between El Jasmin and Cerro Colorado workings further NE, and two more such faults have been interpreted lying further to the east.

The proximity of the Carranza and Cerro Colorado/Jasmin breccia zones to the intersection of the SJMC and the NNE-SSW faults is considered to be important. The latter faults are believed to be of Paleozoic age and are thought to have been reactivated during the Laramide age when the SJMC was created and mineralized by nearby intrusions. Veining and mineralization has recently been identified along the westernmost 'Paleozoic' fault near the Carranza breccia body. This provides potential for finding more mineralization along these faults away from the SJMC, and for finding larger breccia bodies at depth along the confluence of these two major fault trends.

It has been postulated that the breccia zones may widen as a result of structural controls. This could result in an increase in the possibility of locating substantial silver mineralization associated with this mineralized system.

'The developing interpretations for NNE-SSW faults and associated breccia zones as well as the potential for finding larger breccia bodies at depth, are hypotheses that will be tested with drilling. The potential implications for contained metal values and project economics merit investigation.' Stated John Nebocat, Vice President Exploration.

Canuc is also pleased to report that nine drill stations have been prepared at the Santa Rosa Zone. Diamond drilling contractors have been engaged to provide quotes for an initial 3,000 metre program, which is expected to commence in the next week.

About Canuc

Canuc is a junior resources company whose principal focus is exploration and development of the San Javier Silver-Gold Project located 140 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 more information on the content of this release or about Canuc, please contact:

Christopher J. Berlet, CFA
(416) 525 - 6869

Disclaimer and Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

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.

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