Canuc Resources Corporation (“Canuc” or the “Company”) (TSX-V: CDA) (OTCQB: CNUCF) is pleased to announce the receipt of data for the final report from a drone supported magnetic survey carried out over the Company’s San Javier Ag-Au Project in Sonora State, Mexico. The survey was commissioned to search for magnetic high anomalies related to the strong magnetite matrixed breccias and veined stockworks that have been located within the property by recent geological mapping and rock sampling.
Magnetite zones at San Javier accompany elevated Ag and Au values, with recent sampling results ranging up to 2,859 g/t Ag and 14.4 g/t Au (See News Release dated Sept 9, 2020 and Oct 14, 2020). The Ag and Au association with magnetite is suggestive of Iron-Oxide-Copper-Gold (IOCG) style of mineralization, which has been previously recognized in the San Javier area. This type of deposit has the potential for very large, bulk mineable mineralization.
The Property scale survey has identified 3 large magnetic high features measuring 1,000 by 600 m, 800 by 600 m, and 600 by 600 m, respectively. Detailed processing of the data suggests that there are stronger magnetic features within the larger target areas which may represent areas of higher-grade mineralization. Canuc is now carrying out detailed ground magnetic surveys on these targets and is scheduled to begin drilling in the next few weeks.
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 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
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