Canuc Discusses Silver-Gold Breccia Targets
Toronto, Ontario--(Newsfile Corp. - August 6, 2020) - In October of 2017 Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") announced that it had acquired a mining concession with an area of 151.14 hectares. This mining concession enveloped the Company's land holdings to the northeast, and early exploration had determined that silver-gold mineralization was strengthening to the northeast.
Surface exploration is currently in progress on the northeast area of the Company's property along trend from where several silver-gold bearing breccia bodies have previously been discovered. Three such breccia bodies have already been documented and disclosed in press releases, the Carranza/Lydia, Jazmin and Cerro Colorado breccia zones. These breccia bodies are exposed on surface and occur at the intersection of the NE-SW trending San Javier Mineralized Corridor and north-south cross faults.
The Company believes that there is a distinct possibility that silver-gold bearing breccia and stockwork zones can be confirmed along this trend with current exploration initiatives. The confirmation of silver-gold bearing breccia zones, uncovered on surface, would mark a change in the potential for a significant mineral discovery at the Company's San Javier Silver-Gold Project.
"Uncovering further mineralized breccia zones on surface is the objective of current exploration. Success would be of meaningful geological importance and could have a significant impact on our understanding of structure, as well as on our interpretation of the geological potential at San Javier," stated Chris Berlet, CEO.
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.
For further information please contact:
Canuc Resources Corporation.
(416) 525 - 6869
Forward Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
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 information. The forward-looking information is based on current expectations and applies 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 information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61129