Canuc Resources Corporation press release
Woodruff intersects VMS style copper mineralization at Estrades
TSXV - TSX Venture Exchange · Silver · Gold · Copper · Cobalt · Nickel · Rare Earth Elements · Natural Gas · Oil · Canada
TORONTO, June 15 /CNW/ - Woodruff Capital Management Inc. (WOO - TSX-V) ("Woodruff", the "Company") is pleased to report on results of a drilling program at its Estrades project located in the Casa-Berardi area in Quebec. The Estrades project consists of 3 distinct blocks: the Estrades Mining Lease, the Estrades claims and the Newiska claims. The Estrades Mining Lease was recently purchased by Woodruff while the Estrades and Newiska claim blocks are subject to an earn-in agreement with Inmet Mining. Six (6) holes totalling 3,203 metres were drilled to test various conductors and geological targets. The highlights of the program were holes EME-02 and NK-04 which returned significant envelopes of copper-enriched VMS style stringer mineralization as follows:
<< EME-02
from to Length (m) %Cu %Zn g/t Au g/t Ag 763.4 772.4 9.0 0.64 0.12 0.09 5.3
The above includes: from to Length (m) %Cu %Zn g/t Au g/t Ag 767.75 771.60 3.85 1.30 0.23 0.33 9.8
The hole is located about 1.3 km east of the Estrades Main Zone from which 174,946 tonnes of ore at a grade of 1.14% Cu, 13% Zn, 6.35 g/t Au and 172 g/t Ag 174,000 have been milled. The intersection is located 660 m below surface and about 230 m down-dip from an old hole which had returned 9.3% Cu and 2.7% Zn over 0.9m. Very strong sericite alteration is associated with the stringer zone which extends intermittently from 760 to 773 m. In all likelihood, these stringers occur at the same stratigraphic interval as the Estrades deposit and the high copper to zinc ratio suggests proximity to a vent zone for VMS. Borehole PEM should be done shortly to check for proximity of massive sulphide lens.
NK-04
from to Length (m) %Cu %Zn g/t Ag 374.5 398.5 24.0 0.64 0.07 22.4
including: from to Length (m) %Cu %Zn g/t Ag 379.8 398.5 18.7 0.78 0.07 27.3
and from to Length (m) %Cu %Zn g/t Ag 389.1 398.5 9.40 1.09 0.05 41.5
Other narrower copper zones occur further down in the hole, including 1.97% Cu & 42.7 g/t Ag over 0.5m at 418.65m. Also, portions highly enriched in zinc were intersected, including
from to Length (m) ppm Cu %Zn g/t Ag 356.55 362.15 6.90 508 0.61 5.6
Hole NK-04 was drilled in the Newiska claims located 8 km E-SE of the Estrades mine to explore a different felsic centre and targeted the top contact of a mineralized felsic unit recognized in previous shallow holes. The hole intersected a 300m thick (464m core length) section of felsic volcanics, with moderate to strong sericite alteration and local talc. Strongly anomalous copper values were obtained throughout most of the felsic package, with the first value starting at 51.0m in the hole (0.47% Cu/1.5m), and the last one at 431m (1.32% Cu & 35.8 g/t Ag over 1.5m). Hole NK-04 intersected the best stringer copper mineralization in the entire Newiska block; the high silver content and copper to zinc ratio in the stringers suggests proximity to a vent area for VMS. Borehole EM has not been done due to break-up conditions but should definitely be done to check for the presence of a nearby massive sulphide lens. Four (4) other holes (NK-03, NK-05, EME-03, EME-04) were drilled to test geological and geophysical targets. Encouraging copper-gold mineralization was obtained in hole NK-03 (situated 1.5 km east of NK-04). The hole intersected a 500m thick section of felsic volcanics with moderate to strong sericite alteration and local talc. Scattered narrow sulphide-quartz veinlets were encountered from about 150m to 474m. Best assays were 4.1 g/t Au (one speck of visible gold) from 378.5 to 379.0, and 0.61%Cu, 2.66%Zn, 0.60% Pb, 3.42 g/t Au and 66.3 g/t Ag over 0.5m from 471.2 to 471.7m. The alteration and sulphide assemblage is consistent with VMS style mineralization. Borehole EM failed to indicate a conductor at the top of the felsics. Hole NK-05 was drilled to test an airborne VTEM anomaly located 1.6 Km west of NK-04. The conductor was explained by a 28 metre intersection of massive pyrite with 10-20% chert and argillite with minor graphite. Significantly, from 148.1 to 170.45m the section assayed 0.344 g/t Au over 22.35m, including a maximum of 1.13 g/t Au over 1.55m. The gold is clearly associated with the massive pyrite portions and is relatively evenly distributed over the whole interval. That interval also averaged 259 ppm As, which is a common feature in gold-rich VMS systems. This mineralized zone is therefore considered as an indication of potential for a gold-rich massive sulphide deposit in the property. Holes EME-03 was drilled to test a conductor identified from a VTEM survey and successfully explained the conductor as being a 10m zone of pyrrhotite stringers but without anomalous metal content. Finally, EME-04 was testing the Estrades mine horizon 2.6 Km east of the mine and at a depth of 400m and did not return any significant mineralization. Borehole EM remains to be done. Woodruff is very much encouraged by these new developments at the Estrades project, including the recent closing of a purchase agreement on the Estrades Mine (see release dated June 14, 2005), and will actively pursue its work on the project in the coming months. Work is carried out by the personnel of Woodruff Capital Management Inc., under the supervision of GDerald Riverin, PhD, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has more than 28 years of experience in exploration. Samples are sent for assaying to ALS Chemex in Val d'Or. Samples are assayed for gold by fire-assay followed by atomic absorption or gravimetry according to industry standards, and for base metals by Multi Elements Assaying using aqua regia acid digestion and ICPAES (Inductively Coupled Plasma Atomic Emission Spectometry). For high grade samples, copper and zinc assaying was done by multi-acid digestion and finished by AA.
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