Underground sampling intersects 18.0 g/t gold at Nambija
03 Mai 2011 - 4:10PM
PR Newswire (Canada)
TORONTO, May 3 /CNW/ -- TSX Venture Exchange Symbol: CDA Shares
Outstanding: 54,672,598 TORONTO, May 3 /CNW/ - Canuc Resources
Corporation ("Canuc" or the "Company") is pleased to announce
additional results in connection with its current underground
channel sampling program at the Company's 85% owned Nambija gold
project in southeast Ecuador. Sampling is currently confined to
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). Higher grade gold values continue to be intersected in
the upper portion of the El Tierrero structure. Sample series
UG0983 thru UG1040 were collected from one drift and associated
crosscuts located in the central portion of El Tierrero. The main
portal is located approximately 50 meters northwest of the Los
Audaces pit and includes a series of workings extending
approximately 100 meters east into the El Tierrero structure. These
workings crudely sample an area of 100 by 40 meters and contain 3
open galleries where previous mining has occurred. Of the 54
samples collected, 24 returned gold values of greater than 1.0
grams per tonne; the highest value obtained was 18.0 grams per
tonne and was collected from the south wall of one of the large
open galleries. The average gold value for the complete sample set
was 2.2 grams per tonne gold. Both silver and copper values were of
a background nature and are typical of the upper levels of this
portion of El Tierrero where gold bearing skarns dominate the
lithology. These results are similar to those returned in drill
holes N10 - 002 and N10 - 004 as reported in news releases dated
July 7(th) and August 4(th), 2010 which intersected similar
values in the upper 20 meters of their respective drill holes. Gold
results obtained in the channel sampling program are elevated and
more widespread as compared to those returned from the drill
program. Specifically in the case of this sample series,
these samples were taken from workings that are located vertically
above a set of historical workings which had similar results.
Selected results from the channel sampling series are presented in
Table 1 as follows: Table 1 ______________________________________
|Sample #|Width (m.)|Gold grams / tonne|
|________|__________|__________________| | | | |
|________|__________|__________________| | UG0994 | 1.0 | 5.40|
|________|__________|__________________| | UG0995 | 1.0 | 4.23|
|________|__________|__________________| | UG0996 | 1.0 | 9.40|
|________|__________|__________________| | UG0997 | 1.0 | 10.20|
|________|__________|__________________| | UG0998 | 1.0 | 6.35|
|________|__________|__________________| | UG0999 | 1.0 | 3.11|
|________|__________|__________________| | UG1000 | 1.0 | 3.49|
|________|__________|__________________| | UG1001 | 1.0 | 3.37|
|________|__________|__________________| | UG1002 | 1.0 | 2.61|
|________|__________|__________________| | UG1003 | 1.0 | 18.00|
|________|__________|__________________| | UG1004 | 1.0 | 3.36|
|________|__________|__________________| | UG1006 | 1.0 | 2.79|
|________|__________|__________________| | UG1007 | 1.0 | 3.54|
|________|__________|__________________| | UG1008 | 1.0 | 4.62|
|________|__________|__________________| | UG1009 | 1.0 | 3.24|
|________|__________|__________________| | UG1010 | 1.0 | 2.87|
|________|__________|__________________| | UG1011 | 1.0 | 1.68|
|________|__________|__________________| Note: Sample UG1005 was a
quality control pulp. Significance: The recent assay data confirms
the continuance of the higher grade gold bearing skarn
mineralization at El Tierrero. As noted at both surface and
in drill holes along El Tierrero, the gold bearing mineralization
gradually dips to the north and contains only background copper and
silver values. As one drops vertically through the system, the
copper and silver becomes more widespread. All samples are
submitted to Acme Analytical Laboratories Limited ('Acme") in
Cuenca Ecuador for preparation with final analysis being conducted
at Acme's 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 the 36 element ICP method 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 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. 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
Canadian-United States exchange rate, grade of ore mined and
unforeseen difficulties in mining operations 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 Annual Reports. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/May2011/03/c8803.html p
/p table valign="top" border="0" tr td Gary Lohman, President &
CEObr/ 416-867-1300br/ a
href="http://glohman@canucresources.ca"glohman@canucresources.ca/a
/td td Ken Murton, Chairmanbr/ 416-920-2748br/ a
href="mailto:kmurton@canucresources.ca"kmurton@canucresources.ca/a
/td /tr /table p /p
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