Underground sampling intersects hi-grade copper mineralization at El Tierrero

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TORONTO, April 27 /CNW/ - As previously reported on February 25, 2011, underground channel sampling continues at the Company's 85% owned Nambija gold project in southeast Ecuador. Sampling continues in 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). Current sampling continues to intersect widespread gold with intermittent copper in the central and northern portions of the El Tierrero structure. Structurally controlled copper mineralization has also been encountered in some of the lower drifts located in the central portion of the El Tierrero structure.

Sample series UG810 thru UG824 and UG0826 thru UG0895 were collected from two different drifts located approximately 160 metres west-south-west and 54 metres vertically below the Los Audaces pit which, as previously reported on August 19, 2010, contains visible gold along most walls. Of the 14 samples collected in the 1st drift, 5 returned greater than 0.4% copper, these higher grade samples having been collected from a steeply dipping structure stained with visible copper oxide.

Approximately 16 meters to the south of the 1st drift, 66 samples were collected from a 2nd drift which is 150 meters in length, trending at approximately 80 degrees east into the El Tierrero structure.

Samples collected near the portal were taken from the same, mineralized structure as in the 1st drift; the results show coincident copper, silver and lesser gold. Except for the higher values noted in the Table 1, the remaining results were of a background nature.

In the waste rock pile adjacent to the portal of 2nd drift, visible copper mineralization is commonly noted.

Important to note is the presence of elevated silver in the underground sampling. The values returned are generally higher and more consistent than those returned in the drill program. In both cases, the better values tend to coincide with a structural component.

The occurrence of coincident copper, silver and lesser gold suggests this structure may have played an active role in the mineralizing system. Selected results are presented in Table 1 as follows:

Table 1

Sample # Width (m.) Cu % Silver g/t Gold g/t
1st Drift        
UG0812 1.0 0.06 4.9 0.049
UG0813 1.0 1.756 21.4 0.142
UG0814 1.0 2.335 26.8 0.392
UG0815 1.0 2.973 15.2 0.308
UG0816 1.0 0.405 8.3 0.564
2nd Drift        
UG0830 1.0 1.017 10.1 0.058
UG0831 1.0 1.356 14.4 0.197
UG0832 1.0 0.39 4.3 0.016
         

In the northern portion of the El Tierrero structure near the NE corner of Condominio Norte, sample series UG0896 thru UG0982 were collected from a system of drifts and crosscuts trending east, north and south through the El Tierrero structure. A total of 82 samples were collected from this area with 13 samples returning greater than 1 gram per tonne gold. The highest assay value returned was 6.926 grams per tonne gold, collected amongst a cluster of elevated samples along the western portion of the workings.

The gold distribution in this portion of the El Tierrero structure is more widespread with most locations having coincident copper and local silver. In this sample set, copper averaged 0.14% with 23% of the total samples averaging greater than 0.20% copper. The highest copper value returned was 0.42%. Silver averaged 1.2 grams per tonne throughout this sequence, generally occurring coincident with the elevated copper. Zinc is also locally present with individual assays noted greater than 1% zinc. Sphalerite, a zinc sulphide, has been noted in this portion of El Tierrero. This mineralization generally occurs in discreet patches.

Significance:

In the context of a copper gold porphyry system, the recent underground results continue to be encouraging and demonstrate a more widespread envelope of mineralization. The underground sample data will be integrated with previous sampling data, diamond drill intersections and surface data for the purpose of creating a digital model of the mineralization and geology. This is in advance of a planned detailed drill program.

All samples are submitted to Acme Analytical Laboratories Limited in Cuenca Ecuador for preparation with final analysis being conducted at their 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 36 element ICP methods 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 today 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.

SOURCE Canuc Resources Corporation

For further information:

Gary Lohman, President & CEO    
416-867-1300      
glohman@canucresources.ca    


Ken Murton, Chairman
416-920-2748
kmurton@canucresources.ca

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Canuc Resources Corporation

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