Canuc drills five m of 10.02 g/t Au at East Sudbury

Executive Summary

• Canuc Resources Corp. released initial drilling results from the first three holes of a program testing Gold Lens 1 on its 100%-owned East Sudbury project (ESP).
• The third hole (SM-25-120) intersected the main mineralized zone, returning high-grade gold values including 5.0 meters at 10.02 g/t Au, which includes a 1.0-meter interval of 40.9 g/t Au.
• The drilling aims to define the boundaries of Gold Lens 1 and build confidence for infill drilling to estimate a maiden resource for this high-grade, gold-bearing iron-chlorite zone.

Key Details

• Hole SM-25-118: Encountered a fault that appears to cut off the Gold Lens 1 zone in the northern location.
• Hole SM-25-119: Intersected an upper mineralized zone with low gold values and passed beyond the north boundary of the main zone at depth.
• Hole SM-25-120 (Third Hole):
  • Intersected the main zone from 14.5 to 24.5 meters.
  • Assayed 5.11 g/t Au over a 10-meter interval.
  • The lower 5.0 meters of this interval assayed 10.02 g/t Au.
  • Included a 1.0-meter interval assaying 40.9 g/t Au.
  • True width is estimated to be 90% of the intersected width.
• Geological Context: Gold Lens 1 daylights on surface at the west end of the North Pit gold mine, dips at approximately 45 degrees toward the northeast, and has a strike length of 80 meters on surface with widths ranging from 3 to 5 meters.
• Objective: Define outside boundaries of Gold Lens 1 and provide confidence for infill drilling to estimate a maiden resource.
• Technical Person: Seymour Sears, BA, BSc, PGeo, reviewed and approved the technical information.

Notable Quotes

• "These results are confirming continuity for Gold Lens 1, a relatively high-grade, discrete gold-bearing geological structure found in place near to the old mine workings of the past-producing North Pit gold mine on Canuc's 100-per-cent-owned East Sudbury project (ESP)." — Christopher Berlet, President and CEO.
• "Our next objective will be to calculate a resource for this Gold Lens 1, which will lead to evaluating an extractive opportunity. We believe there remain multiple additional gold lenses across the property that will be identified proximal to the trend of historical gold mine workings." — Christopher Berlet, President and CEO.