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Toronto, Ontario--(Newsfile Corp. - November 3, 2021) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc" or the "Company") is pleased to announce acquisition by staking of 2 additional claims in the San Javier mining and exploration camp. The newly acquired claims are contiguous with existing claims and cover extensions on one of the Company's principal exploration targets.
Canuc began acquiring claims at San Javier in 2010. The Company now has 100% ownership of 24 contiguous claims in the heart of the San Javier exploration and mining camp. In 2020 discovery of an extensive silver-mineralized breccia system combined with intense magnetite swarms resulted in IOCG deposit potential hypothesis.
The San Javier area has a mining history dating back to 1704.
Renewed Interest - San Javier Exploration and Mining Camp
The San Javier area first came back into focus in August of 2020 when Barksdale Resources Corp. announced an earn in on claims held in the San Javier area. These exploration claims are contiguous with Canuc's ground position to the south, west and east.
Further interest in the San Javier area came in October 2020 when Osisko Development Corp. announced acquisition of the San Antonio claims group. The San Antonio claims acquired by Osisko Development Corp. are contiguous with Canuc claims to the east.
"The San Javier area has a development history dating back over 300 years. The Canuc team believes that we have significant discovery potential based on revised geological interpretations, and that our exploration claims are centrally located in what has become a dynamic mining and exploration camp," stated Christopher Berlet, President & CEO of Canuc Resources Corp.
Canuc is a junior company focusing on the San Javier Silver-Gold Project in Sonora State, Mexico. The Company generates cash flow from natural gas production at its MidTex Energy Project in Central West Texas, USA where Canuc has an interest in 8 producing natural gas wells and has rights for further in field developments. Canuc also has exclusive rights, through a Partnership Agreement with Ioticiti Networks Inc., to sell Industrial IoT applications and infrastructure in the Provinces of Alberta and Saskatchewan, Canada and in the State of Texas, USA.
For further information please contact:
Canuc Resources Corporation.
(416) 525 - 6869
Forward Looking Information
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101700