Canuc Resources Corporation (“Canuc” or the “Company”) (TSX-V: CDA) is pleased to provide further information, previously compiled, pertaining to work done by Santa Rosa Silver Mining Corporation (“Santa Rosa”) on the San Javier Silver/Gold project.
Subsequent to the underground sampling program conducted in 2012, a program of reconnaissance mapping, prospecting and sampling was carried out under the guidance of Seymour Sears, P.Geo, whose NI 43-101 report on the San Javier project can be viewed on SEDAR. During this program, a total of 9 prospects were identified within the property. Including the surface exposures at Santa Rosa/Polvorin mine, located near the southwest end of the property, a mineralized “corridor” about 200 m wide extends across the length of the property, a distance in excess of 3,000 m to the northeast.
At least 3 styles of mineralization were identified and sampled. These include vein and veinbreccia zones similar to the main Santa Rosa–Polvorin Zone; alteration zones associated with the margins of felsic to intermediate dykes, as at the Colorado Zone; and quartz stockwork breccia zones as represented by the Carranza Zone. The vein zones range in width from less than 1 m to 4.5 m. The other two styles of mineralization appear to have potential to be much wider.
At Colorado Zone, the silica and clay alteration is at least 11 m wide, and an 11.2 m composite of 4 samples across this zone averaged 284 g/t (8.3 opt) Ag.
The Carranza Zone at one point reaches a width of 31 m. Contained within this section occurs an 11.0 m interval (4 samples) that averages 238 g/t (6.9 opt) Ag.
The Company is also pleased to report that it has granted additional options to Mr. John Nebocat who was recently appointed Vice President of Exploration. The options total 400,000 shares exercisable at $0.50 per share for three years, all of which vest immediately. The new options are in addition to 200,000 options previously granted to Mr. Nebocat which are also exercisable $0.50 per share.
Mr. Nebocat brings many years of experience in Mexican silver deposits. In addition to extensive surface and underground data compilation, he has undertaken some 3-D modeling of the Santa Rosa silver mine; this work will prove invaluable in designing a maiden drilling program expected to start in the next few months. In the meantime, surface work including chip and soil sampling is continuing, the results of which will be released in the near future. As a reminder, the company recently completed a $2.0 million equity financing in February 2017 and has sufficient funds on hand to complete the current phase of its planned exploration program.
http://canucresources.ca/project/san-javier-project/san-javier-plan-map-1-1/
About Canuc
Canuc is a junior resources company engaged in the exploration and development of mineral properties in North America. In addition, the company is active in the development of a natural gas field in Central West Texas where it has an interest in seven producing gas wells. These wells generate a sustainable cash-flow with the potential to increase income by the drilling and completion of additional wells.
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:
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.
Original Article: http://canucresources.ca/wp-content/uploads/2017/04/04-APR-Details-of-Surface-Sampling-San-Javier-Project.pdf
