Canuc Resources Corporation Commences Exploration at Mill Village, Nova Scotia
21 September 2011 - 9:01AM
PR Newswire (Canada)
TSX Venture Exchange Symbol: CDA Shares Outstanding: 59,735,798
TORONTO, Sept. 21, 2011 /CNW/ - Canuc Resources Corporation
("Canuc" or the "Company") is pleased to report that it has
commenced work on its Mill Village property located approximately
13 kilometres north of Liverpool Nova Scotia. The property consists
of 31 claims (496 hectares) covering the historic Gold Eagle Mine
and numerous other gold occurrences associated with quartz veining
within the Meguma structural terrain of the north-eastern
Appalachians. In July, 2011, the Company engaged Hudgtec Consulting
Limited of Dartmouth, Nova Scotia to commence the first phase of
exploration on the property. Due to extensive glacial till cover,
initial efforts have included the GIS compilation and
re-interpretation of historic grid survey data which included
VLF-EM, Magnetics and B-Horizon soils. In conjunction with the data
compilation, an MMI (Mobil Metal Ion) orientation survey was
conducted over the Gold Eagle vein system area. In total, 91
samples, were submitted to SGS Mineral Services for analysis. To
verify the presence of gold in the Gold Eagle dispersion train, 23
samples were collected with a soil auger and submitted to the
Minerals Engineering Centre at Dalhousie University. Results from
both surveys will be released when the data has been received and
interpreted. Preliminary results from the GIS compilation have
provided a better definition of the stratigraphy and structural
environment beneath the extensive till cover. Gold in dispersion
trains appears associated with the known Gold Eagle, Thompson and
Goddard occurrences while a 4(th) dispersion train appears to have
been located from the compilation effort in the northwest portion
of the property. Quartz float, indicative of underlying vein
mineralization, is also widespread on the property with over 400
locations identified and compiled to date. The work also
highlighted elevated magnetics and more conductive horizons at the
northern end of property which may indicate greater thicknesses of
pelitic rocks which are highly prospective for bulk tonnage gold
deposits such as Atlantic Gold's Touquoy deposit located north of
Halifax. Work continues on the property and includes the
digitization of the historic drill data, prospecting, and mapping.
Local geochemistry and geophysical surveys may also be conducted in
order to better define drill targets. Mr. Bruce Hudgins, 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. Canuc Resources
Corporation CONTACT: Gary Lohman, President & CEO Hubert
Mockler, Executive ViceChairman416-867-1300
416-867-1300glohman@canucresources.ca hmockler@canucresources.ca
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