posted in:

Drilling to commence on the Mill Village gold project, Nova Scotia

Tuesday, Nov 06, 2012

TORONTO, Nov. 5, 2012 /CNW/ - Canuc Resources Corporation ("Canuc" or the "Company") (TSXV:CDA) is pleased to announce that diamond drilling is scheduled to commence on its Mill Village gold property located outside of Liverpool, Nova Scotia by mid November. A minimum of 1,000 metres will be drilled on two main target areas developed during the 2012 exploration season, the Hornet and 667 grids respectively.

The Hornet grid was established approximately 350 - 800 meters due west of the historic Thompson and Gold Eagle workings in an area highlighted by a northwest trending break in the ground geophysics (VLF). Historical results indicating anomalous gold and tungsten in rocks, soils and glacial tills were validated in 2011 and 2012 in conjunction with geological mapping and prospecting. This work assisted in better defining the stratigraphic trends and potential structural framework in the area.

Due south and west of the Hornet grid is the more extensive 667 grid covering the Goddard occurrence, an area highlighted by extensive quartz boulders, historic pits and trenches all reportedly associated with native gold. Poorly explored in the past despite anomalous gold in soils (Seabright, 1985), this area was expanded on, prospected and soil sampled in more detail. Till sampling by Canuc returned gold grains in the till, mostly coincident with the previously defined gold in soil anomalies.

During May 2012, 19.475 kilometers of induced polarization (I.P.) surveying was conducted over portions of both the Hornet and 667 grids defining 20 significant individual I.P. anomalies distributed along four linear trends oriented NE-SW. The geophysical data was further reviewed and up to 7 first-priority diamond drill holes were recommended by Gerard Lambert, P. Eng, Consulting Geophysicist.

Upon compilation of the 2012 exploration information and geophysical data, 11 holes have been selected for the first round of drilling with 8 holes to be drilled on the Hornet grid and 3 on the 667.

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 company with its principal exploration 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.

SOURCE Canuc Resources Corporation

posted in:

Other Metal News

Duluth Metals announces SEDAR filing of updated AMEC resource study on Twin Metals 15-04-2014
Comstock Mining provides update 11-04-2014
Sesa Sterlite Limited announces production release for the fourth quarter and full year ended 31 march 2014 11-04-2014
Goldcorp Holds Investor Day announces first quarter 2014 gold production 11-04-2014
Perseus Mining Limited provide Edikan Gold Mine update 11-04-2014
Rare Earth Metals market worth 192,000 tons by 2018 11-04-2014
Red Eagle Mining completes $5,000,000 financing 11-04-2014
Copper Mountain mine achieved record first quarter copper production 11-04-2014
IAMGOLD provides update on advanced exploration projects maiden resource estimate - Pitangui project, Brazil diamond drilling results - Boto Gold proj 11-04-2014
Sierra Mining Limited announces results of first court hearing 11-04-2014

Advertisers