Canuc Resources (TSXV:CDA)
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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.
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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