Canuc reports on first two drill holes in Ecuador.TORONTO--(BUSINESS WIRE)--Jan. 16, 1997--(CANADIAN Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. DEALING NETWORK/CNUC.) Canuc Resources Corporation ("Canuc") announced today the results of the first two drill holes on its Nambija gold property in Ecuador have been received and are disappointing. Only trace amounts of gold were reported in the core samples. "Nevertheless," Mr. H. J. Mockler, President of Canuc stated, "these results do not diminish our enthusiasm for this project, but merely confirm the great danger of drilling in this type of deposit where free gold is the dominant form of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. ." "Drilling of an initial 6 hole program commenced in late November 1996 on the Ecuadorian project on 50 metre metre In poetry, the rhythmic pattern of a poetic line. Various principles have been devised to organize poetic lines into rhythmic units. Quantitative verse, the metre of Classical Greek and Latin poetry, measures the length of time required to pronounce syllables, spacings away from the Gold Star Mine workings. Hole No. 1 was completed at a depth of 121 metres and Hole No. 2 at approximately 300 metre depth. The drill rig will be moved to Hole No. 3 later this month. The first two drill holes encountered rocks very similar to those contained in the neighbouring Gold Star Mine workings which proved highly favourable for gold mineralization. The assay results are disappointing in view of the encouragement received from the visual inspection of the cores before they were shipped to Bondar-Clegg in Vancouver for assaying." "Drilling of this property may not be an appropriate method of determining reserve potential. Some high-grade gold results from our underground sampling quite recently have been rechecked and have proved to be consistent with the original assays. It was these assay results, of course, on which Canuc's contract geologist predicted his estimate of geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. resource in the amount of 8.7 million tonnes grading 0.25 ounces of gold per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. for the Gold Star Mine working, an area that represents only a small fraction of the total Nambija project of Canuc." Mr. Mockler, repeated, "Our enthusiasm for this project is not in any way diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. by these two drill hole results and an accelerated program of underground sampling on workings recently acquired will be initiated immediately as well as completing the balance of the six hole drill program." Canuc shares are quoted the "CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. Unlisted" system under the symbol "CANUC". CONTACT: Canuc Resources Corporation H.J. Mockler, 416/861-1422 416/861-1478 (FAX) |
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