Canuc Resources samples up to 17.9 g/t Au at San Javier

2020-02-06 06:41 ET – News Release

Mr. Christopher Berlet reports

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CANUC SAMPLES HIGH GRADE SILVER AND GOLD ALONG THE SAN JAVIER MINERAL TREND

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Canuc Resources Corp. has provided results of a sampling program that was focused along the company’s San Javier mineral trend at its 100-per-cent-owned San Javier silver-gold project.

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A program was undertaken to sample artisanal workings at various locations within the property to confirm the hypothesis of vein continuity along the extent of the Company’s 3 km contiguous claim holding.

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Between 2010 and 2019 the Company acquired a total of 17 claims covering 3 km of strike and down dip extensions of silver and gold veins that had been the subject of small-scale historical mining. Results from an exploration program conducted by Canuc in 2017 and 2018 established a geological model consisting of stacked, sub-parallel veins.

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A small drilling program defined multiple, independent veins containing high to bonanza grades of silver and gold. Also reported with exploration results (see News Release May 22, 2018) were two distinct breccia zones found on surface which yielded robust grades of silver and gold over widths that were much wider than simple vein deposits.

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The most recent sampling program has been designed to confirm the hypothesis of vein system continuity along the 3 km mineral trend. This was done with a view to preparing the Company for an upcoming drill program on the 17 contiguous claims of the San Javier Silver-Gold Project.

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“We are pleased with these results and believe that these high-grade silver and gold samples, taken from several locations along the 3 km of strike extent of the San Javier Silver-Gold Project, confirm our hypothesis of vein continuity along the trend of the Company’s claims.”,

“Our most recent results confirm that high grade silver and gold veins are evidenced along the full 3 km extent of the San Javier Silver-Gold Project. This validates our strategy of acquiring and combining claims along the strike length of the San Javier Mineralised Corridor.”

“The Company has 17 contiguous claims, covering 3 km of strike length and the down dip projections of surface veins, and has now been able to confirm silver-gold mineralisation along the extent of the Mineralised Corridor,” stated Chris Berlet, President and CEO.

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The samples were collected and delivered to Bureau Veritas Mineral Laboratories in Hermosillo, Mexico, a certified, internationally recognised assay laboratory. Gold analyses were completed using a Fire Assay AAS Finish on a 30-gram sample at the Hermosillo Laboratory. All samples were also analysed for a multi element suite (ICP) from pulps sent to their Vancouver laboratory.

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Fifteen of the sixteen samples exceeded the ICP upper detection limit for silver (>100 ppm) and were subsequently analysed by Fire Assay – gravity finish in the Hermosillo laboratory. All samples were chip samples, which are reasonably representative of the bedrock exposures and suitable for the purposes described herein.

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Table 1 Sample assays from the San Javier Mineralised Corridor
SAMPLE Number WIDTH (M)Au g/tAg g/t DESCRIPTION                          
     1         0.6    1.8    11  Southwest extent of the claims up-dip
     2         0.6    0.33  114  Southwest extent of the claims up-dip
     3         0.8    17.9  111  1,200 meters along strike Northeast  
     4         1.1    11.6   99  1,200 meters along strike Northeast  
     5         0.4    3.1   138  1,200 meters along strike Northeast  
     6         1.1    4.13  197  1,200 meters along strike Northeast  
     7         0.6    0.65  170  1,500 meters along strike Northeast  
     8         0.9    0.06  44.9 1,500 meters along strike Northeast  
     9         0.4    0.28  262  1,650 meters along strike Northeast  
     10        0.3    0.24  243  2,000 meters along strike Northeast  
     11        0.5    0.02  182  2,700 meters along strike Northeast  
     12        0.9    0.02  195  2,700 meters along strike Northeast  
     13        0.3    0.19  399  2,700 meters along strike Northeast  
     14        1.5    0.13  239  2,700 meters along strike Northeast  
     15        1.4    0.02  705  2,400 meters along strike Northeast  
     16        1.6    0.02  578  2,400 meters along strike Northeast  

Figure 1 Sample locations from the San Javier Mineralized CorridorTo view an enhanced version of Figure 1, please visit  https://orders.newsfilecorp.com/files/2906/52152_3d250f92e455e98d_001full.jpg

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About Canuc

Canuc is a junior resource company holding the San Javier Silver-Gold Project in Sonora State, Mexico. The Company generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where Canuc has an interest in eight producing gas wells and has rights for further in field developments. Canuc also has exclusive rights, through a Partnership Agreement with Ioticiti Networks Inc., to sell Industrial IoT applications and infrastructure in the Provinces of Alberta and Saskatchewan, Canada and in the State of Texas, USA.

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We seek Safe Harbour.