Canuc Initiates Drill Program at San Javier
Toronto, Ontario--(Newsfile Corp. - February 11, 2021) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce the commencement of diamond drill operations at the Company's wholly owned San Javier Silver-Gold Project in Sonora State, Mexico. A drilling permit has been secured and drill pad construction is in progress. A diamond drill is scheduled to be mobilized to site on the week beginning February 15th, 2021.
The Company believes that the San Javier Silver-Gold Project is hosted in an IOCG depositional environment. Drilling will target geophysical anomalies and mineralized breccia and stockwork zones as disclosed in press releases dated: August 6th, 2020 September 22nd, 2020 October 14th, 2020 and January 7th, 2021.
Drilling will commence near the site where the Company earlier reported silver assays of 2,859 g/t in a mineralized magnetite vein. The vein is exposed at surface and in artisanal mine workings (press release September 22nd, 2020). From there, drilling will progress to the first of at least 3 distinct magnetic high targets which were identified in a recent drone supported magnetic survey (press release January 7th, 2021).
The Company is currently building a secure core shack and storage area near to the village of San Javier which is designed to hold 20,000 meters of diamond drill core.
Seymour M. Sears, B.A., B.Sc., P.Geo. is the Qualified Person for the Company, as defined by NI 43-101, and has reviewed and approved the contents of this press release.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74153