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Canuc (TSXV: CDA) Provides Exploration Update for San Javier

 

Toronto, Ontario - May 22, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Canuc Resources Corporation (TSXV: CDA) ("Canuc" or the "Company") is pleased to provide an update on exploration at the San Javier Project.

Samples taken from the northeast portion of the San Javier mineralized corridor (SRMC) returned high grade silver results of up to 625 g/t Ag over 1.5 metres from breccias at the Chiripas workings. Chiripas is located some 3,000 metres northeast of the Santa Rosa mine workings (see Figure 1). The nearby Little Pit showing also yielded results of up to 477 g/t Ag over 3.8 metres in vein material. The Jazmin working, located further southwest along the SRMC, has also yielded up to 698 g/t Ag over 2.0 metres in vein material samples (see Table 1 sample results).

Figure 1. Schematic Plan View of Veins and Showings along the SRMC

* Grid spacing is 1,000 metres

"These results clearly indicate that high grade silver vein mineralization, and also silver bearing breccia geology, is evidenced along the full 3 km strike extent of the San Javier structure and the San Javier mineralized corridor. This is very encouraging for geological prospects and vein continuity along trend in the northeasterly direction, and suggests potential for a robust high-grade and vein hosted mineral endowment." Stated Hub Mockler.

Table 1. Select Samples from Showings along the SRMC

Canuc also announces that it has released from option 2 claims of the 19 claim ground position at San Javier. These 2 claims, which represent just over 8% of the total claim package, were deemed to have metal budgets insufficient to support their option costs. The remaining claims are owned outright.

About Canuc

Canuc is a junior resources company exploring the San Javier Silver-Gold Project in Sonora State, Mexico. The Company also generates cash flow from natural gas production in Central West Texas, where Canuc has an interest in nine producing gas wells and has rights for further in field developments.

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 further information please contact Canuc Resources Corporation:

(416) 548-9748
cberlet@canucresources.ca

Disclaimer and Forward-Looking Statements

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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