Canuc Resources Corporation
Canuc Resources is a junior resource company based in Toronto whose current focus is the exploration and development of the Nambija gold property located in the historic Nambija Gold Mining District in southeastern Ecuador. The Nambija Gold Belt is a 20km-long, north-trending metamorphic formation hosting Au skarn mineralization in multiple deposits.
Positioned along the western side of the Amazon craton, the Nambija skarns have been mined sporadically since the time of the Incas. The area was rediscovered in 1981 following a massive mudslide and a great gold rush followed of artisanal miners, with an estimated 1-3 million ounces of gold extracted from the property from a large number of near-surface workings. Due to the ensuing chaos, in the early 1990s the Ecuadorian army imposed law and order in the community by implementing mining controls by assigning mining rights to miners who could verify their workings.
In 1995 the area came to the attention of Canuc’s President and CEO Hub Mockler, and Canuc has subsequently acquired nearly 85% of the mining rights at Nambija and controls 68.7 hectares with the potential to increase its holdings.
The Nambija Gold Belt, estimated to contain 125 – 155 tons of gold, is being explored not only by Canuc, but by other major players in the gold exploration industry; however, the most prolific mine in the belt is Canuc’s Goldstar. Known for historically high grade material, the Goldstar was the source of the majority of gold recovered at Nambija. The Goldstar and parallel El Tierrero trend have seen little modern exploration and have never been explored to depth.
At present, Canuc has been sporadically operating the Goldstar mine which produces a modest 30-50 ounces of gold per month. Canuc is currently involved in investment conversations in order to finance exploration and development of the Nambija property. Canuc plans a staged approach to the development of the Nambija project. Although ambitious, the Canuc team believes the project is highly achievable due to the modest capital expenditures required to increase gold recovery, the implementation of grade control at Goldstar, the exploration potential of the property and the technical expertise of the process staff and consultants engaged on the project.
Canuc Resources has an exceptionally experienced team. Mr. Mockler brings 50+ years of Canadian and international experience in mining and oil. Country Manager Keith Brogoitti has worked for 25 years as an engineer in Myanmar, Chile, Peru, Mexico, and Iraq. Geologist Gary Lohman brings another 25 years of experience in mining work in the Americas while Senior Mining Engineer Jorge Guzman has been involved in the Nambija area since 1981.
Ecuador is politically stable with a democratically elected government that is highly supportive of mining development and foreign investment; e.g., capital can be fully repatriated. It has a stable banking system, and the U.S. dollar is the prevailing currency. Canuc Resources (CDA) is traded on the Toronto Venture Exchange (TSX-V) and has 61,047,262 fully diluted shares currently trading at less than $.50. Contact Canuc at 416-867-1300.
Canuc Resources Corporation 121-402 Richmond Street West Toronto, Ontario, Canada M5H 2K1 011-416-867-1300 info@canucresources.ca www.canucresources.ca
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