Canuc Resources (TSXV: CDA) this morning released further data from samples collected at its flagship San Javier silver-gold project, located in the Sierra Madre silver belt of northwest Mexico. Highlights from the program include a silver sample registering as having 1,222 g/t silver.
Results released this morning pertain to a total of 267 rock samples that were taken at the project, with data from the first 157 samples having been released in late September. The samples were collected as part of a property scale geological mapping program, with an emphasis of exploration placed on the potential for an IOCG type mineralization.
Within the 110 rock samples reported today, 19 silver assays were reported as being over-assay and were sent for re-assay. The highlight value, 1,222 g/t silver, was notably collected 100 metres to the northeast of the Cerro Colorado Prospect, with the zone thought to be from a fault that lies on the north margin of a large breccia body that contains an iron oxide matrix.
Notably, two channel samples reported high copper content, assaying 0.83% copper and 320 g/t silver over 0.5 metres, and 0.95% copper and 547 g/t silver over 1.0 metre. Both samples were from a breccia zone.
“We first became aware of IOCG depositional potential at San Javier this past summer with detection of a substantial silver bearing breccia zone as reported in a September 22nd press release. The presence of extensive magnetite mineralization within the artisanal silver mine workings was a key indicator for us. Our latest results continue to manifest significant silver over-assay percentages with magnetite association, but now also have elevated gold and copper detections. This is consistent with the IOCG deposit model originally postulated for San Javier by Dr. Hitzman in 2006.”Christopher Berlet, President & CEO
The company is now conducting geological mapping, sampling and preparation for drilling at San Javier. The focus of the exploration is to define and sample magnetite bearing breccia.
Canuc Resources last traded at $0.20 on the TSX Venture.
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