Canuc Doubles Land Position at San Javier
Toronto, Ontario--(Newsfile Corp. - January 27, 2021) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce the singing of purchase agreements for 5 claims in the San Javier mining and exploration camp. These newly acquired claims are contiguous with the Company's existing claims and represent an important expansion of the Company's holdings in a rapidly evolving IOCG exploration environment.
Canuc began acquiring claims at San Javier in 2010. Until recently, the Company had accumulated 17 contiguous claims comprising 416.2 hectares of ground along high-bonanza grade silver veins and covering silver-mineralized stockwork and breccia zones. In 2020 an extensive silver-mineralized breccia discovery combined with intense magnetite swarms on the Company's eastern claim area resulted in an IOCG deposit potential hypothesis.
The 5 most recently acquired claims, comprising 416.9 hectares, cover extensions on at least one additional IOCG target. The Company's combined ground position now covers 833.1 contiguous hectares of centrally located and highly prospective ground in a rapidly evolving mining and exploration camp.
San Javier 2020
The San Javier area first came back into focus during August of 2020 when Barksdale Resources Corp. announced an earn in on 1,184 hectares of ground in the heart of the San Javier mining and exploration camp. These exploration claims are contiguous with Canuc claims to the south and east.
Further interest in the San Javier area came during October 2020 when Osisko Development Corp. announced acquisition of the San Antonio claims group. The San Antonio claims acquired by Osisko Development Corp. are contiguous with both Canuc and Barksdale claims to the east. The Osisko claims cover an area of 11,338 hectares.
"We are pleased to have been able to acquire important mineral claims at San Javier in advance of drilling on the IOCG targets that have recently been identified on our Company ground. The Canuc team believes that we have significant discovery potential, and that our ground position is centrally located in what is rapidly becoming a dynamic mining and exploration camp." Stated Christopher Berlet, President & CEO of Canuc Resources Corp.
Canuc is a junior resource company focusing on its 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 natural 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.
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