Canuc Resources Corporation (TSX-V: CDA) is a junior company focused on the acquisition and development of quality resource assets. Canuc is developing a portfolio of cash generating energy assets and high-grade metal assets.
Canuc is developing energy assets, in safe jurisdictions, to support cash flow and enhance security.
In 2011 Canuc acquired MidTex Oil & Gas Corporation, a private company with producing gas wells in Stephens County, West Texas. Today, through this wholly owned subsidiary, Canuc is participating in eight producing gas wells on a total of six leases. The Stephens County leases can also support further wells within the existing acreage and there are also a number of untapped hydrocarbon zones behind pipe in each well. Additional wells can be drilled and produced to enhance cash flow when conditions merit expansion.
Cash flow from hydrocarbon production is a component of the Company’s strategy to prevent shareholder dilution, and to create shareholder value while minimizing treasury share issuance.
San Javier Silver-Gold Project
In February of 2017, Canuc completed a Reverse Takeover of Santa Rosa Silver Mining Corporation which held the San Javier Silver-Gold Project (San Javier) located in Sonora State, Mexico.
The San Javier Silver-Gold Project hosts multiple levels of historical underground workings on high grade silver and gold veins. A comprehensive sampling program and diamond drilling has yielded consistently high silver grades with significant gold credits. San Javier is held through Canuc’s wholly owned subsidiary Minera Stramin SA de CV, and supports significant prospective value for Canuc shareholders.