TSX Venture Exchange
Shares Outstanding: 59,735,798
TORONTO, Sept. 21, 2011 /CNW/ - Canuc Resources Corporation ("Canuc" or
the "Company") (TSXV:CDA) 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
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 4th 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
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.
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.
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.
SOURCE Canuc Resources Corporation
For further information: