Underground sampling intersects hi-grade copper mineralization at El Tierrero
April 27 2011 - 1:19PM
PR Newswire (Canada)
TORONTO, April 27 /CNW/ -- TSX Venture Exchange Symbol: CDA Shares
Outstanding: 54,672,598 TORONTO, April 27 /CNW/ - As previously
reported on February 25, 2011, underground channel sampling
continues at the Company's 85% owned Nambija gold project in
southeast Ecuador. Sampling continues in accessible drifts in order
to increase our geological knowledge and better define the
boundaries of the known mineralization. To date, approximately
1,200 samples have been collected along the eastern El Tierrero
structure which has been defined on the property for a length of
450 metres and a minimum width of 50 metres. Samples are being
collected from accessible drifts at various elevations along the
structure in order to better define the 3 dimensional
characteristics of the mineralization. The samples are generally 1
meter in length and are collected from both walls and the back
(ceiling). Current sampling continues to intersect widespread gold
with intermittent copper in the central and northern portions of
the El Tierrero structure. Structurally controlled copper
mineralization has also been encountered in some of the lower
drifts located in the central portion of the El Tierrero structure.
Sample series UG810 thru UG824 and UG0826 thru UG0895 were
collected from two different drifts located approximately 160
metres west-south-west and 54 metres vertically below the Los
Audaces pit which, as previously reported on August 19, 2010,
contains visible gold along most walls. Of the 14 samples collected
in the 1(st) drift, 5 returned greater than 0.4% copper, these
higher grade samples having been collected from a steeply dipping
structure stained with visible copper oxide. Approximately 16
meters to the south of the 1(st) drift, 66 samples were collected
from a 2(nd) drift which is 150 meters in length, trending at
approximately 80 degrees east into the El Tierrero structure.
Samples collected near the portal were taken from the same,
mineralized structure as in the 1(st) drift; the results show
coincident copper, silver and lesser gold. Except for the higher
values noted in the Table 1, the remaining results were of a
background nature. In the waste rock pile adjacent to the portal of
2(nd) drift, visible copper mineralization is commonly noted.
Important to note is the presence of elevated silver in the
underground sampling. The values returned are generally higher and
more consistent than those returned in the drill program. In both
cases, the better values tend to coincide with a structural
component. The occurrence of coincident copper, silver and lesser
gold suggests this structure may have played an active role in the
mineralizing system. Selected results are presented in Table 1 as
follows: Table 1 ________________________________________________ |
Sample # |Width (m.)|Cu % |Silver g/t|Gold g/t|
|___________|__________|_____|__________|________| |1(st) Drift| |
| | | |___________|__________|_____|__________|________| | UG0812 |
1.0 |0.06 | 4.9 | 0.049 |
|___________|__________|_____|__________|________| | UG0813 | 1.0
|1.756| 21.4 | 0.142 |
|___________|__________|_____|__________|________| | UG0814 | 1.0
|2.335| 26.8 | 0.392 |
|___________|__________|_____|__________|________| | UG0815 | 1.0
|2.973| 15.2 | 0.308 |
|___________|__________|_____|__________|________| | UG0816 | 1.0
|0.405| 8.3 | 0.564 |
|___________|__________|_____|__________|________| |2(nd) Drift| |
| | | |___________|__________|_____|__________|________| | UG0830 |
1.0 |1.017| 10.1 | 0.058 |
|___________|__________|_____|__________|________| | UG0831 | 1.0
|1.356| 14.4 | 0.197 |
|___________|__________|_____|__________|________| | UG0832 | 1.0
|0.39 | 4.3 | 0.016 |
|___________|__________|_____|__________|________| | | | | | |
|___________|__________|_____|__________|________| In the northern
portion of the El Tierrero structure near the NE corner of
Condominio Norte, sample series UG0896 thru UG0982 were collected
from a system of drifts and crosscuts trending east, north and
south through the El Tierrero structure. A total of 82 samples were
collected from this area with 13 samples returning greater than 1
gram per tonne gold. The highest assay value returned was 6.926
grams per tonne gold, collected amongst a cluster of elevated
samples along the western portion of the workings. The gold
distribution in this portion of the El Tierrero structure is more
widespread with most locations having coincident copper and local
silver. In this sample set, copper averaged 0.14% with 23% of the
total samples averaging greater than 0.20% copper. The highest
copper value returned was 0.42%. Silver averaged 1.2 grams per
tonne throughout this sequence, generally occurring coincident with
the elevated copper. Zinc is also locally present with individual
assays noted greater than 1% zinc. Sphalerite, a zinc sulphide, has
been noted in this portion of El Tierrero. This mineralization
generally occurs in discreet patches. Significance: In the context
of a copper gold porphyry system, the recent underground results
continue to be encouraging and demonstrate a more widespread
envelope of mineralization. The underground sample data will be
integrated with previous sampling data, diamond drill intersections
and surface data for the purpose of creating a digital model of the
mineralization and geology. This is in advance of a planned
detailed drill program. All samples are submitted to Acme
Analytical Laboratories Limited in Cuenca Ecuador for preparation
with final analysis being conducted at their facilities in
Vancouver British Columbia. Gold was analyzed by using a standard
30 gram fire assay with a gravimetric finish. Copper analysis was
done by ICP- emission spectrometry. A sub sample was also analyzed
by 36 element ICP methods to provide a broader range of geochemical
information for analysis. Mr. Gary Lohman, P. Geo. is the
designated Qualified Person pursuant to National Instrument 43-101
of the Canadian Securities Administrators for this press release
and has reviewed and approved the technical and scientific
disclosure contained herein. About Canuc Canuc is a junior mining
exploration company with its principal properties located in
Ecuador and Nova Scotia. Canuc's main holding today is an
approximate 85% interest in the Nambija Gold deposit located in
south-eastern Ecuador. According to records obtained from the
Central Bank of Ecuador, it is estimated that, to date, nearly 3
million ounces of gold have been produced using the most primitive
of mining and milling recovery processes from the Nambija area.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of this
release. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/April2011/27/c7317.html
table border="0" valign="top" tr td Gary Lohman, President &
CEO br/
416-867-1300 br/ a
href="http://glohman@canucresources.ca"glohman@canucresources.ca/a
/td td br/ br/ /td td Ken Murton, Chairmanbr/ 416-920-2748br/ a
href="mailto:kmurton@canucresources.ca"kmurton/aa
href="mailto:kmurton@canucresources.ca"@canucresources.ca/a /td /tr
/table
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