Canuc Resources (TSX.V: CDA)
Provided a December 2021 update on the exploration program currently in progress at the Company’s San Javier Ag-Au Project in Sonora State, Mexico.
Progress has been slow due to covid issues in Mexico, but progress has been made, with 1,750 m drilled and assays are awaited.
|Canuc Resources||TSX.v : CDA|
|Stage||Exploration + production|
|Metals||Silver, Gold, Copper, + gas|
|Market cap||C$17.6 m @ 16c|
|Location||Sonora, Mexico, and Texas USA|
Canuc Resources Provides 2021 Exploration Update for San Javier
December 14th, 2021
Canuc Resources Corporation (“Canuc” or the “Company”) (TSX-V: CDA) (OTCQB: CNUCF)is pleased to provide a December 2021 update on the exploration program currently in progress at the Company’s San Javier Ag-Au Project in Sonora State, Mexico.
In 2020 Canuc carried out a very successful sampling program at surface and in shallow underground workings that identified numerous high-bonanza grade silver occurrences hosted by magnetite bearing veins and hydrothermal breccia bodies.
A drone-supported magnetic survey was completed late in the year and was accompanied by reconnaissance scale geological mapping. Several large magnetic anomalies were identified and targeted for drill testing.
In February of 2021, a diamond drill was mobilized to San Javier to be used on a long-term as-needed basis with plans to systematically evaluate the high priority targets. Drilling has proceeded slower than anticipated because of equipment and logistical issues which have been exacerbated by covid-related complications.
The drill operated for 102 days during the period February 11 to December 1, 2021, completing 1,753 metres in 4 holes. From this drilling, 964 samples were collected and submitted for assay. Summaries of the geology and intersections for the first 3 holes were announced in an earlier news release (October 12, 2021).
2021 Current Hole SJ-21-04 Targeting Copper Intrusive
Hole SJ-21-04 is being drilled near the center of the property and was originally designed to test a broad magnetic anomaly interpreted to be at a depth of 300 m. The hole entered a zone consisting of stockwork quartz and calcite veining, hydrothermal breccia and highly fractured and veined hornfels (contact metamorphic rock) at 304 m and continued in this material to its current depth of 1,023.5 m where it is temporarily suspended awaiting mobilization of a larger rig for continuation to depth.
Assay results from the lower part of the hole are pending. Veining in the hole contained from 3 to 10% sulphides and included pyrite, pyrrhotite and chalcopyrite. Assay results have been received to a depth of 912 m typically in 2 metre sample lengths.
Values for Au ranged from <0.005 to 0.151 g/t Au; <0.3 g/t Ag; 5 to 1,781 ppm Cu; and 1.0 to 27.5% Fe. This hole is being continued at depth to target a prospectively mineralized intrusive which is believed to be the source of the contact metamorphism evidenced in recovered core.
2021 New Gold Zone
Approximately 11.2 km of drill and trench access roads were completed during the year. One of these roads encountered bedrock consisting of stockwork quartz veining and hydrothermal breccia. A strong northwest trending structure containing gold mineralization was identified along a strike length of more than 3 km (see news releases Aug 28, 2021, and Oct 12, 2021).
The zone was prospected, and a series of trenches were cut at right angles to the structure along a 1 km section. A total of 672 channel samples were collected from trenches and roadcuts within this area. Gold values from these samples ranged from <0.005 to 3.18 g/t; silver from <0.3 to 169 g/t; and copper from 5 ppm to 2.85%.
Numerous broad intervals with elevated gold and copper values were discovered within this first 1 km section including:
- Road near Trench 1: 14.5 m @ 0.47 g/t Au, 0.37% Cu.
- Trench 1: 56 m @ 0.305 g/t Au.
- Trench 2: 26 m @ 0.212 g/t Au.
- Trench 2A: 10 m @ 0.195 g/t Au.
- Trench 3: 13 m @ 0.16 g/t Au, 0.48% Cu.
This initial sampling program has tested an area of approximately 1 km of the 3 km strike length of this zone, and stripping has so far been confined to areas of relatively easy access.
The work program was carried out by a 5-person crew. In addition to drill supervision, logging and sampling, approximately 365 person-days were spent on geological mapping and 440 person-days were spent collecting rock samples from outcrop, trenches and old underground workings. A total of 1,305 rock samples were collected and assayed from the new gold zone and from other zones on the property.
2021 High Grade Silver Confirmation
The 2021 sampling program included 30 samples collected from known magnetite bearing prospects in the northern part of the property. These samples were collected to verify high grade silver mineralization from previous sampling as well as to trace this mineralization on the Company’s newly acquired claims. Twenty-Three (23) channel samples averaging 0.7 m wide were collected from sites on the Company’s claims that had been previously sampled. The new samples assayed up to 1.672 g/t Au, 1,877 g/t Ag and 6,823 ppm Cu (see Table 1 for details). These results are very similar to results from previous sampling and confirm the high-grade nature of these zones.
Canuc Resources Projects
The Company has 100% ownership of 24 contiguous claims in the heart of the San Javier exploration and mining camp. The property is bounded on the south and southeast by the Cerro Verde Cu-Au property of Barksdale Resources Corp. (TSX-V: BRO) and on the north and northeast by the San Antonio Cu-Au property held by Osisko Development Corp. (TSX-V: ODV).
Both Barksdale Resources Corp. and Osisko Development Corp. have reported ongoing drill programs in the area. The San Javier area has become increasingly recognized as being highly prospective for IOCG, porphyry and other Intrusion-related Au, Ag and Cu-Au mineralization.
Canuc Resources management comments
“We have had some delays in 2021 at San Javier but have also made some key determinations and discoveries.
“The IOCG thesis for ore genesis is intact. We have added some important claims to our ground position and have uncovered a new gold-copper zone that is manifest across a sizeable surface extent.
“We have also confirmed a high-grade metal suite and mineralogy which is consistent with our geological models and expect to make meaningful progress with drilling in 2022.”
Christopher Berlet, President and CEO of Canuc Resources.
About Canuc Resources
Canuc is a junior company focusing on exploration of the San Javier Silver-Gold Project in Sonora State, Mexico.
The Company has 24 contiguous claims that are prospective for IOCG style mineralization.
Canuc also generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where the Company holds an interest in 8 producing natural gas wells and has rights for further in field developments.
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