Mining Stock News - Canuc (TSXV: CDA) Acquires 3 Additional Claims at San Javier
Toronto, Ontario - September 27, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce the signing of agreements to acquire three additional claims at the San Javier Silver-Gold Project in Sonora State, Mexico. The newly acquired claims are contiguous with the Company's existing claims and cover a combined 104.5 hectares of prospective ground.
The acquisition of these three additional claims at San Javier brings the Company's total contiguous claim position to 956.4 hectares. Canuc now has agreements for 100% ownership of 27 contiguous claims in the heart of the San Javier Silver-Gold mining camp.
San Javier Area Interest
The San Javier area first came back into focus during September of 2020 when Barksdale Resources Corp. announced an earn in on several claims covering a combined 1,184 hectares of ground in the San Javier mining and exploration camp. These exploration claims (previously held by Constellation Copper Corp.) are contiguous with Canuc claims to the south, west and east.
Further interest in the San Javier area came during October 2020 when Osisko Development Corp. announced acquisition of the San Antonio claims group (previously held by Red Tiger Mining Inc.). The San Antonio claims acquired by Osisko Development Corp. are contiguous with Canuc claims to the north, south and east. The San Antonio claims cover an area of 11,338 hectares.
"The detection of massive magnetite and magnetite veining on company claims which is found in combination with high to bonanza grades of silver that is manifest with a preponderance of silver halides, as well as the prevalence of copper and gold mineralization, have given us confidence in the IOCG thesis for ore genesis at San Javier." Stated Christopher Berlet, President and CEO of Canuc Resources Corp.
"We have assembled an unencumbered ground position of 27 contiguous claims covering key geological features of the San Javier IOCG system. This progressive accumulation of claims in the San Javier mining camp is in keeping with our objectives for value development as a junior exploration and development company."
Canuc is a junior resource company focusing on its San Javier Silver-Gold Project in Sonora State, Mexico. The Company also generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where Canuc has an interest in eight (8) producing natural gas wells and has rights for further in field developments.
For further information please contact:
Canuc Resources Corporation.
(416) 525 - 6869
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 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 information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures 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.
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