Canuc Provides San Javier Exploration Update
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FOR IMMEDIATE RELEASE TSX-V: CDA | CNUCF | WKN: A14 ZX4
September 22nd, 2020 Shares Outstanding: 84,939,150
ISIN: CA1389093040
Canuc Provides San Javier Exploration Update
Canuc Resources Corporation (“Canuc” or the “Company”) (TSX -V: CDA) (OTCQB CNUCF)
is pleased to announce preliminary results from an ongoing work program on the San Javier
Silver-Gold Project. The San Javier Pro ject is located 125 km southeast of Hermosillo in the
prolific Sierra Madre silver belt of northwest Mexico. Mexico is the world’s second largest silver
producer and most of Mexico’s silver production comes from the Sierra Madre belt.
The current work program has been focused on the eastern and northeast part of the pro ject
covering an area that was previously unexplored by the Company. The area of coverage includes
the recently acquired , and previously underexplored, El Tule claim. The work program
encompassed reconnaissance geological mapping and rock sampling. Geological map ping has
determined that the eastern part of the San Javier Pro ject is underlain mainly by Triassic aged
Barranca Group sandstones and siltstones that are cut by abundant zones of hydrothermal
breccia. The matrix to these breccias consist s mainly of iron o xide (magnetite, hematite) and
related hydroxides (limonite, goethite) with local quartz, carbonate and barite. The mineralogy
suggests that the breccia zones may represent the lower part of a large, magmatic hydrotherm al
system. The breccia zones locally contain relatively narrow (up to 1.5 m etres) lenses consisting
of massive magnetite matrix material with bonanza grade Ag and elevated Cu.
The work program has identified these swarms of iron -matrix breccia over a large area
measuring 900 by 1,200 metres which remains open laterally in an unmapped area of the
Company’s claims. One of the individual breccia zones in this area measures from 30 to 70
metres in width and has been traced for approximately 800 meters along strike. It occurs adjacent
to two fault structures.
To date 267 rock samples have been collected from bedrock exposures, old trenches and small
underground mine workings found within the iron -matrix breccia area . Assay results are
available for the first 157 of these samples. Values range from trace to 2,859 g/t Ag (80 ounces)
and from 74 ppm to 0.59% Cu. Of the first 157 samples analysed by ICP methods, 35 exceeded
the maximum detection limit for Ag (+100 g/t Ag) and were re-assayed by Fire Assay methods .
The bonanza grade Ag values and the higher Cu values are from several of the high magnetite
(>40% Fe) bearing cross structures. Several of these mineralized zones have been e xploited by
small scale artisanal miners.
Approximately 110 of the samples were collected from the 800-metre-long breccia zone
described above. The bulk of this breccia zone contains approximately 5% iron matrix (mainly
hematite) and contains values rangi ng from 0.4 to 20 g/t Ag and from 13 to 473 ppm Cu (80
samples). Two structures with massive magnetite matrix within this zone contained from 27.9 to
2,859 g/t Ag (average of 434 g/t Ag (13.9 ounces)) and from 74 to 2,978 ppm Cu (average of
0.10 % Cu). Additional work is now planned on this breccia zone.
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The work program will continue mapping and sampling on the Company’s center to eastern
claim area where the property appears to be underlain by the iron -matrixed breccia zones. There
is approximately 800 m eters of unmapped ground between the current mapping grid and the
Company’s property boundary. This property boundary is contiguous with a claim group
containing two previously identified Cu deposits - Mesa Grande and La Trinidad – explored in
2007 by Constellation Copper Corp. These deposits were considered to be the upper levels of an
iron oxide-copper-gold (IOCG) deposit type.
All samples were channel samples ranging in width from 0.1 to 3.0 metres in thickness. Sample
locations are spray painted and marked by aluminum tags in the field and the samples are placed
in plastic bags with the appropriate sample tag; sample numbers are also written on the outside of
the bags; locations are acquired by GPS and recorded at the site along with sample descriptions .
They are then stored at a secure site until delivered directly to the certified laboratory of Bureau
Veritas in Hermosillo, Mexico. Al l samples were assayed for Au by Fire Assay, AA finish in
Hermosillo and all over-limit samples assayed for Au and Ag by Fire Assay, Grav imetric finish.
All samples were analysed by Aqua Regia digestion, ICP methods for 33 elements in the Bureau
Veritas laboratory in Vancouver, BC, Canada.
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.
About Canuc
Canuc is a junior resource company h olding 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 f or 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 o f the date on which they were made. The factors that could cause actual results to differ
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materially from those indicated in such forward-looking information include, but are not limited to, the ability of the
Corporation to fund the exploration expenditur es 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.