San Javier Project IOCG Exploration Project
Sonora State, Mexico Silver, Gold, Copper
Canuc Resources Corporation (TSX-V: CDA, OTCQB: CNUCF, WKN: A14ZX4) holds a 100% ownership interest in the San Javier Silver-Gold Project located 146 km east of Hermosillo in Sonora State, Mexico.
- Canuc’s San Javier Project is a silver-dominant IOCG deposit type exploration
- San Javier Project is located in the center of an established mining camp.
- San Javier project area has a long history of artisanal silver, gold and copper mining.
San Javier is an historical mining town located some 146 km east of Hermosillo in Sonora State, Mexico. The town was founded as an artisanal mining center in 1706. The State and local area has a long history of economic prosperity resulting from mining activity (Figure #1).
San Javier Project, Regional Map
Figure #1
Today, the San Javier Project, and the nearby San Antonio Project, have potential to become a new large-scale mining camp with a substantial mineral endowment containing significant quantities of gold, silver and copper. Geological models of ore genesis support silver-dominant IOCG (Iron Oxide Copper Gold) deposit type potential (Figure #2).
San Javier Project, Property Map
Figure #2
Canuc Resources Corp.’s claim holdings form a bridge between the claims held by Barksdale Resources (barksdaleresources.com), which cover 1,184 hectares on the western side of the project, and the claims held by Osisko Development (osiskodev.com), which cover 11,338 hectares on the eastern side of the project.
silver-dominant IOCG Potential (IOCG Deposit Type)
A new understanding of geology at San Javier began during the summer of 2020.
IOCG Discovery at San Javier Oct.2006 – Sep.2020
The Sapuchi-CerroVerde mineralized trend is a 10 km trend of gold and copper mines which traverses the claims of three public companies (Canuc Resources Corp., Barksdale Resources Corp. and Osisko Development Corp.).
Massive magnetite carrying bonanza grades of silver was found on Canuc claims in July 2020.
In July of 2020 Canuc geologists found sizeable breccia zones carrying silver, and assaying up to bonanza grades, in and around old mine workings. The high-grade silver was found within extensive magnetite mineralization on the eastern area of company claims. These claims had been acquired by Canuc in October 2019. Previous owners had not explored the claims for silver or other metals as their interest and efforts had been focused on anthracite (hard coal) mining.
The sizeable silver bearing magnetite breccia discovery made by Canuc in 2020 shifted the company’s exploration focus from high-grade silver vein exploration to silver-dominant IOCG deposit type exploration. Significant evidence now supports this thesis for a much larger scale silver-dominant IOCG deposit type ore genesis model at San Javier.
A magnetic survey has provided clearly defined, and large scale, magnetic targets which are located coincident with artisanal silver mine workings and extensive silver in soil footprints. Silver, assaying up to 2,859 g/t Ag, is hosted within magnetite veins which come to surface on all sides of the large magnetic anomalies (Figure #3).
These findings are consistent with the cumulative body of evidence now supporting large scale, silver-dominant IOCG deposit type potential on Canuc’s claims at San Javier.
San Javier Project, Claim Map
Mining Camp
Several companies have previously been involved in regional exploration initiatives in the historical mining areas of San Javier and San Antonio. Companies that have held ground and conducted exploration in the past include:
Servicios Industriales Peñoles S.A. de C.V., Phelps Dodge, Outukumpu Oyj, Constellation Copper, Red Tiger Mining Inc., Barksdale Resources Corp. and Osisko Development Corp.
In 2020 two public companies acquired mining concessions on either side of Canuc’s claims. These newly acquired claims had previously been held, and explored, by Constellation Copper and Red Tiger respectively. The ground acquired by these companies in 2020 is located both west and east of (and contiguous with) Canuc’s centrally positioned claim holdings.
Press releases announcing claim acquisitions at San Javier, 2020
Barksdale Resources Corp. 6.Aug.2020
Osisko Developments Ltd. 5.Oct.2020
Today, San Javier represents potential for a mining camp consolidation spanning tens of millions of dollars of accumulated exploration expenditure and decades of infrastructure development. Canuc’s central claim position, and large scale silver discovery potential, provide catalysts for a powerful new go-forward dynamic. The area is set for consolidation and for the expanded development of a new regional mining camp.
Current claim holdings at San Javier
