Toronto, Ontario--(Newsfile Corp. - February 8, 2018) - Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") is pleased to announce initial results from a recently completed surface rock sampling program conducted at the Carranza and Lydia zones on the Company's San Javier project, Sonora, Mexico.
Mapping and sampling at the Lydia zone has identified a wide breccia zone up to 40 m across and trending NE-SW with a moderate southeasterly dip. Two lines of surface rock samples, located 40 m apart, were collected perpendicular to the trend of the breccias. One line returned 10 m averaging 210 g/t Ag and 5.0 g/t Au, including 6 m of 324 g/t Ag and 7.8 g/t Au. This line is above and roughly parallel with the main Lydia working where a 9 m interval averaged 173 g/t Ag and 0.78 g/t Au. These two mineralized intercepts are about 40 m apart horizontally, or about 70 m down dip. The other line contains two separate zones, about 8 m apart, that averaged 244 g/t Ag, 2.27 g/t Au and 99 g/t Ag, 0.36 g/t Au—each over 4 m widths.
At Carranza zone, a 4 m interval, located east of the 11 m section that averaged 238 g/t Ag and 0.72 g/t Au (2013), yielded 100 g/t Ag and anomalous Au. Twenty-five metres to the south occurs a 6 m interval that averages 162 g/t Ag and 0.83 g/t Au.
Link to diagram representing gold and silver results at the Carranza and Lydia zones:
Sampling and mapping suggests that the precious metal mineralization, hosted by siliceous veins and breccias, is controlled by the Paleozoic fault (N-S to NE-SW) nearby. The fault, located between 20 m and 30 m NW of the mineralization at Carranza, is extensively covered with overburden, negating further surface sampling; the terrain does not permit for bulldozer excavation. A drill pad is being constructed (see attached image) to test various targets on and around Carranza summit, including the covered areas of the Paleozoic fault which is believed to host breccia-style mineralization along both sides. Additional drill pads will be located after the trenches between Lydia and Carranza have been constructed and sampled.
"These results confirm continuity of high grade mineralization along trend at San Javier. We are very pleased with the higher gold numbers found at the Lydia zone which has been sampled over a 10 metre section on surface. Internal to this section, there appears to be 6 metres evidencing substantially higher gold and silver grades. As first identified in our drill program during 2017, the defining characteristic of our San Javier property appears to be the higher relative grades," stated Hub Mockler, Executive Chairman.
"These relative high grades, which are now manifest on surface several hundreds of metres along strike from the old mine workings, are notable because of the combined proximal occurrence of both silver and gold mineralization."
The Company has introduced two different sample standards and one sample blank into the sample stream at intervals that average approximately 1 per 10 samples. Samples were collected at the Company's field office in San Javier, Sonora in a secure environment. The samples were transported by Company personnel to Bureau Veritas' prep laboratory in Hermosillo, Sonora, and the resulting pulps were flown to Vancouver for analyses. All samples were analyzed for gold by fire assay/atomic absorption finish and by multi-element ICP techniques. All over limit results obtained by ICP were further analyzed by specific techniques (atomic absorption, gravimetric).
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.