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Canuc Resources Corporation Reports on Progress of Current Drilling Program in Nambija, Ecuador
Canuc Resources Corporation Reports on Progress of Current Drilling Program in Nambija, Ecuador
About this update from Canuc Resources Corporation
[{"type":"text","content":"\n\n\n\n Jun. 7, 2010 (Canada NewsWire Group) -- TSX Venture Exchange\nSymbol: CDA\nShares Outstanding: 42,604,598\n\n Canuc Resources Corporation ("Canuc" or the "Company") is pleased to report that it has now completed seven diamond drill holes for a total of 1,431 meters at its Nambija gold prospect located in South Eastern Ecuador. All holes encountered skarn which is the principal host rock for gold and other mineralization, in Nambija. Holes number one and two have been logged and split and sent to Acme Labs in Vancouver for assay. An initial ICP test conducted on this core returned several elevated gold values including a one meter section in hole number two which returned 14 grams of gold to the ton. In hole number one a three meter section from 22.86 to 25.90 meters averaged 8.6 grams to the ton. This was part of a mineralized section from 0 to 25.90 meters which averaged slightly over 3.1 grams to the ton. It is important to note that an ICP test does not have the accuracy of a fire assay. An additional 200 samples have been split and sent to the preparation lab in Cuenca and from there will be shipped to the Acme Labs in Vancouver for assay. Hole number six which was completed earlier this week encountered 80 meters of skarn (from 20 to 100 meters) and considered to be the most interesting hole drilled to date is currently being logged and split and will be forwarded for assay immediately. This hole had all of the important indicator minerals which are common to gold mineralization. An initial examination of the core by our geologist suggested that it contained some very fine gold grains.\nHole number eight which is being drilled in the centre of the property and is slated to go to a depth of 400 meters unexpectedly encountered skarn alteration. Earlier mapping in this area indicated that the rocks in this part of the property were mainly sedimentary in origin. Should this hole contain any meaningful values it would add an entirely new dimension to the Nambija gold prospect. As of this writing the hole is currently at a depth of 200 meters.\nThe Company also wishes to report that it has entered into a one year consulting agreement with two individuals to provide Canuc with assistance in its future capital requirements. This group has extensive experience in helping junior companies in raising capit...