Underground sampling confirms high-grade Gold and supports potential for large tonnage, low grade Copper-Gold mineralization at Nambija Project, Ecuador

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TORONTO, Feb. 25 /CNW/ - As previously reported, underground channel sampling continues at Nambija in accessible drifts in order to increase our geological knowledge and better define the boundaries of the known mineralization.  To date, approximately 1,000 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.  Recent sampling continues to intersect widespread gold with intermittent copper in the central and northern portions of El Tierrero.

Sample series UG-0641 to UG-0700 were collected from a drift in the central portion of El Tierrero just north of, and approximately 25 metres vertically below, the Audaces pit which, as previously reported, hosts both high and low grade gold mineralization.  The assay results from the underground sampling continues to encounter isolated high grade gold values, but also widespread, low grade gold mineralization unlike that encountered in the drilling program where local higher grade intersections occurred as isolated pods with relatively abrupt boundaries.  The average gold grade for all samples collected in this drift was 1.06 grams per tonne.  The copper values in this area are subdued, averaging 0.07% Cu while silver averaged 1.00 gram per tonne.

A sample of the results showing the continuity of the gold mineralization is shown below in Table 1.

Table 1

Sample # Width (m.) Cu % Gold g/t
UG-0650 1.0 0.025 1.611
UG-0651 1.0 0.086 0.883
UG-0652 1.0 0.048 0.550
UG-0653 1.0 0.087 1.620
UG-0654 1.0 0.050 2.587
UG-0655 1.0 0.1650 3.564
UG-0656 1.0 0.083 1.319
UG-O657 1.0 0.055 1.390
UG-O658 1.0 0.138 0.287
UG-0659 1.0 0.090 0.322
UG-0661 1.0 0.133 1.594
UG-0662 1.0 0.085 10.20
UG-0663 1.0 0.046 1.122
UG-0664 1.0 0.052 0.271
UG-0665 1.0 0.081 0.357
UG-0666 1.0 0.089 0.434
UG-0667 1.0 0.085 2.677
UG-0668 1.0 0.122 2.924
UG-0669 1.0 0.132 1.375

Approximately 230 metres north of, and near the same elevation as, the Audaces pit, another extensive drift was sampled (Samples UG-0701 to UG-0796).  Of the 92 samples collected, 16 were above 1 gram per tonne gold, the highest being 17.1 grams per tonne.  In this portion of El Tierrero, the widespread nature of the mineralization stands out with 40% of the samples being greater than 0.5 grams per tonne gold.  As in previous sampling, higher grade zones are present, however the underground sampling is beginning to demonstrate that they are surrounded by lower grade mineralization.  The average gold grade in all samples from this drift was 1.00 gram per tonne; copper averaged 0.08% and silver averaged 1.37 grams per tonne.  Select samples from the drift are shown in Table 2 below.

Table 2

Sample # Width (m.) Cu % Silver g/t Gold g/t
UG-0789 1.0 0.079 0.9 0.624
UG-0790 1.0 0.107 3.6 17.100
UG-0791 1.0 0.065 1.1 0.721
UG-0792 1.0 0.190 2.3 0.219
UG-0793 1.0 0.275 5.1 0.585
UG-0794 1.0 0.117 1.0 1.528
UG-0796 1.0 0.068 4.7 11.700

Note: UG-0795 was a control blank.

Just north of this location, sampling was conducted in a smaller drift (Samples UG-0797 to UG-0809) returning an average of 2.11 grams per tonne, gold; 0.18% copper and 1.73 grams per tonne, silver.  Of the 13 samples collected 10 samples returned copper values greater than 0.10% copper, the highest value being 0.82%.  The highest gold value was 22.7 grams per tonne.  These results are shown below in Table 3.

Table 3

Sample # Width (m.) Cu % Silver g/t Gold g/t
UG-0797 1.0 0.127 1.0 0.127
UG-0798 1.0 0.110 1.3 1.481
UG-0799 1.0 0.078 0.9 0.110
UG-0800 1.0 0.197 2.3 0.102
UG-0801 1.0 0.035 0.4 0.027
UG-0802 1.0 0.824 4.1 0.053
UG-0803 1.0 0.247 1.6 0.215
UG-0804 1.0 0.134 1.5 0.594
UG-0805 1.0 0.095 2.0 1.700
UG-0806 1.0 0.117 4.0 22.700
UG-0807 1.0 0.119 0.8 0.157
UG-0808 1.0 0.136 1.0 0.098
UG-0809 1.0 0.106 1.6 0.079

In the context of a lower grade, porphyry system, the recent underground results are encouraging, demonstrating a more widespread envelope of mineralization and an apparent vertical zoning pattern with gold mineralization in the upper levels giving way to an increase in copper with increasing depth.  The drifts selected for study cover a vertical range of approximately 35 to 40 meters with samples collected at approximately 10 meter intervals from both the walls and the back (roof) of the drift. 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 in advance of a planned detailed drill program.

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     Ken Murton, Chairman
416-867-1300       416-920-2748
glohman@canucresources.ca     kmurton@canucresources.ca
Investor Cubed Inc.:
Telephone: (647) 258-3310, (888) 258-3323
Fax: (416) 363-7977

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Canuc Resources Corporation

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