Canuc Resources Corp. (TSX-V: CDA)
Provided an update on the exploration program currently in progress at the Company’s San Javier Ag-Au Project in Sonora State, Mexico.
Three holes have been completed to date. The fourth drill hole (SJ-21-04) is in progress and is currently at a depth of 922 m and ongoing.
|Canuc Resources||TSX.v : CDA|
|Stage||Exploration + production|
|Metals||Silver + gas|
|Market cap||C$23 m @ 21c|
|Location||Sonora, Mexico, and Texas, USA|
Canuc Provides San Javier Exploration Update and Reports on SJ-21-04
Canuc Resources Corporation(TSX-V: CDA) (OTCQB: CNUCF) (“Canuc” or the “Company”) is pleased to provide an update on the exploration program currently in progress at the Company’s San Javier Ag-Au Project in Sonora State, Mexico.Three holes have been completed to date. The fourth drill hole (SJ-21-04) is in progress and is currently at a depth of 922 m and ongoing.
Company geologists believe that this drill hole has the potential to identify a mineralized intrusive body consistent with the discovery model that the Company has been pursuing.
This drill hole (SJ-21-04) was designed to test a kilometer long magnetic anomaly detected near historical workings referred to as the Chiripas Mine.
Local narrow magnetite veins accompany the important presence of sulfides from 34 m, including pyrite, pyrrhotite and possibly also bornite and cerargyrite at depth. The first 850 m of drill core has been split and sent for assay.
Below is a summary of the geology intersected in the first 3 holes drilled prior to SJ-21-04.
Hole SJ-21-01 was drilled to a total depth of 89.5 m (lost in a fault zone) and encountered brecciated Barranca sediments including siltstone, sandstone, conglomerate and variable amounts of magnetite bearing veinlets, stringers and a breccia matrix throughout.
Local narrow magnetite veins included an assay of 126 g/t Ag over 2.35 m. Hole SJ-21-02 (twin of Hole SJ-21-01) was drilled to a total depth of 139.5 m. Brecciated Barranca sediments were encountered. A massive magnetite vein was intersected at 30.1 m grading 243 g/t Ag over 2.0 m.
Hole SJ-21-03 (Millrock Au target) was drilled near to the southern boundary of the Company’s claims to a total depth of 500.5 m (stopped because of drilling problems). Drilling encountered brecciated and stockworked Tarahumara volcanics including agglomerates, pyroclastic breccias, lapilli tuffs and flows of trachytic composition with variable amounts of magnetite-specularite bearing veinlets, stringers and a breccia matrix throughout.
The hole intersected scattered gold values throughout, ranging from trace to 1.19 ppm (equivalent to 1.19 g/t). Intersections included: 0.426 ppm Au over 1.8 m; 0.465 ppm Au over 1.55 m; 0.528 ppm Au over 1.15 m; 0.592 ppm Au over 1.35 m; 1.069 ppm Au over 0.5 m and 1.19 ppm Au over 0.45 m. SJ-21-03 also intersected scattered copper mineralization including 0.41% Cu over 1.95 m and 0.34% Cu over 0.65 m.
More detailed information relating to the above drill holes will be provided in future news releases and on the company website.
New Gold Zone
The gold bearing breccia zone discovered while bulldozing a drill road earlier in the summer (press release August 4th, 2021) has been traced over a strike length of 3.3 km within the Company’s claim group.
Gold values range from trace to 17.9 g/t over 0.8 m, and detailed mapping along with additional sampling is now in progress. One of the drill holes currently scheduled will be testing a very strong magnetic target centred within this zone.
Canuc Resources management comments
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