Toronto, Ontario--(Newsfile Corp. - October 4, 2017) - Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") announces that drill hole SJ17-003 has intersected high-grade silver with meaningful gold, lead and zinc credits. Drill hole number 3 intersected the Santa Rosa vein (SRV) in two separate splays. The lower splay, from 138.77 to 140.25 meters, averaged 1,514 g/t (50 oz. /ton) silver, 2.91 g/t gold, 4.18% lead and 5.6% zinc over 1.48 m. The upper splay, from 128.5 to 128.87 m, averaged 156 g/t silver, 0.39 g/t gold, 1.01% lead and 1.86% zinc over 0.37 m. High-grade silver values found in the lower vein are a reflection of the metal values and vein quality that brought about early mining at San Javier.
Both diamond drilling and surface sampling indicate that mineralization in the SRV system increases in the northeast direction. In recognition of this Canuc has concluded an agreement to acquire an important 151 hectare claim block known as Tule 1. This claim envelops the Company's existing San Javier property to the northeast and adds considerable strike length to the SRV mineralized corridor.
There are several mineral showings and historical mine workings within the northeast land package. Of particular significance are two breccia zones which manifest on surface and have been identified from sampling programs: Carranza breccia zone, where previous sampling produced 274 g/t silver over a width of 11 m on surface, and Cerro Colorado breccia zone, which yielded 285 g/t silver over 11.3 m on surface (press release, April 13, 2017). These breccia zones occur near the confluence of the SRV trend with another north-south trending fault system.
In the coming months a new drilling program, along with detailed mapping and structural interpretation, will be carried out to target not only the continuation of the SRV but to also determine the size, grade and depth extensions of the breccia showings.
"The prospect of the breccia bodies becoming wider at depth and carrying better silver and gold grades could be an important development for our project as it would lay the foundation for a low cost, bulk tonnage operation," states Hub Mockler, Executive Chairman. "The recently completed drill program has been very successful in that it showed significant continuity of the Santa Rosa vein which remains open to the northeast, to the southwest and at depth. Also, the suspected presence of several other sub-parallel gold and silver bearing veins has been confirmed. Although the Company is at an early stage of exploration at San Javier, we are extremely pleased with the results to date and firmly believe that the next phase of exploration can be even more productive."
Drill hole SJ17-003 intercepted the tabular vein bodies approximately 80 degrees from the interpreted dip of the vein(s). The reported mineralized widths are considered to be true widths.
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, where one split was analyzed for gold by fire assay/atomic absorption finish, and a pulp from this split was flown to Vancouver for analysis by multi-element ICP techniques. All over limit results for Ag, Cu, Pb and Zn obtained by ICP were further analyzed by specific techniques (atomic absorption, gravimetric).
The following link is to Canuc's San Javier Project page; the viewer can access images, photos and a short video at this site:
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 more information on the content of this release or about Canuc, please contact:
Canuc Resources Corporation
(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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