- Canuc Resources (CDA) is updating its shareholders on drilling progress at the company’s San Javier Project
- The gold-silver project is located in in Sonora State, Mexico
- The company plans a 20-hole, 6,000-metre drill program
- The first hole experienced several mechanical issues and was terminated at a depth of 89.5 metres in a fault zone
- Canuc Resources is unchanged on the day, with shares of the company trading at C$0.27 at 12:18 pm ET
Canuc Resources (CDA) is updating its shareholders on drilling progress at the company’s San Javier Project.
The gold-silver project is located in in Sonora State, Mexico. The first hole of a planned 20-hole, 6,000-metre drill program, experienced several mechanical issues and was terminated at a depth of 89.5 metres in a fault zone.
This hole which is being drilled on the Silver Mountain target intersected brecciated sedimentary rocks containing stockwork veining, magnetite stringers and blebs of magnetite throughout, from surface to the terminated depth.
The program is designed to test at least four magnetic features that underlie areas where a 2020 mapping and rock sampling program identified silver, gold and copper mineralization.
Drill assays have been sent for analysis. The drill has been repositioned 2 metres from the original collar, and the hole is being re-drilled to complete the test of a magnetic high detected at depth proximal to this site.
“Drilling at San Javier is expected to continue throughout Q2 and Q3 and we will provide further updates as progress permits,” said Canuc Resources President and CEO Chris Berlet.
Canuc Resources is unchanged on the day, with shares of the company trading at C$0.27 at 12:18 pm ET.