Canuc Provides Details of Santa Rosa Mine Sampling, Sonora, Mexico
March 28 2017 - 6:02AM
Canuc Resources Corporation (“
Canuc” or the
“
Company”) (TSX-V:CDA) is pleased to provide
summary information, previously compiled, pertaining to work done
by Santa Rosa Silver Mining Corporation (“Santa Rosa”) on the San
Javier Silver/Gold project.
Prior to the merger between Canuc and Santa
Rosa, Santa Rosa performed an extensive channel sampling program of
the vein(s) mined intermittently since the 1950s. The channel
sampling program was carried out in 2012 under the guidance of
Seymour Sears, P.Geo, whose NI 43-101 report on the San Javier
project can be viewed on SEDAR.
The Santa Rosa mine consists of five levels,
plus connecting sub-levels, spanning a strike length of 490 m and
135 m down dip (~100 m vertically below surface). The vein ranges
from 0.3 m to 5.0 m in width and
is open along strike in both directions, and also down dip. A total
of 341 samples of vein material were collected; the weighted
average grade was:
388 g/t (11.3 oz/t) Ag,
2.02 g/t (0.06 oz/t) Au, 1.58% Pb
& 1.28% Zn over 1.45 m.* avg.
width.
Figure
1 Long
Section Santa Rosa Mine
http://canucresources.ca/project/san-javier-project/santa-rosa-long-section-1/
Two sub-parallel veins, El Capulin and Las
Norias, occur in the footwall rocks below the Santa Rosa vein; the
width between these three veins is about 115 m. These veins are
similar in appearance to the Santa Rosa vein and are virtually
unexplored. The host rocks to the veins are sedimentary, dominated
by sandstone, but shale and coal are known to occur as interbeds.
The wall rocks next to the veins are highly fractured and altered,
providing the potential to find lower grade, high tonnage
mineralization.
A drilling program, planned for the second
quarter this year, will test this concept in conjunction with
detailed drilling of the Santa Rosa vein.
A control and soil sampling grid, initiated in
June 2016, will be completed this year—initial soil samples are in
the laboratory at this time.
Figure
2 San
Javier Plan Map
http://canucresources.ca/project/san-javier-project/san-javier-plan-map-1-1/
* The reader is cautioned that the results of
the underground sampling, reported above, do not represent a
resource nor do they reflect what a potentially mineable resource
may ultimately average in grade and/or width.
About CanucCanuc is a junior
resources company engaged in the exploration and development of
mineral properties in North America. In addition, the company is
active in the development of a natural gas field in Central West
Texas where it has an interest in seven producing gas wells. These
wells generate a sustainable cash-flow with the potential to
increase income by the drilling and completion of additional
wells.
John Nebocat, BSc (Geological Engineering),
P.Eng, Vice President Exploration for Canuc, is the Qualified
Person for the Company, as defined by NI 43-101, and has reviewed
and approved the contents of this press release.
For more information on the content of this
release or about Canuc, please contact:
Christopher J. Berlet,
CFA
CEO416 525 – 6869
cberlet@canucresources.ca
Disclaimer and Forward-Looking Statements
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.
Forward-Looking Statements:
This news release contains forward-looking statements that
include risks and uncertainties. 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 statements. The
forward-looking statements are based on current expectations and
apply 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 statements include changes
in the prevailing price of gold, the prevailing price of natural
gas, the Canadian-United States exchange rate, amount of gas
produced that could affect revenues and production costs.
Other factors such as uncertainties regarding government
regulations could also affect the results. Other risks may be
set out in the Company’s annual financial statements and
MD&A.
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