Canuc Resources first staked mineral claims in Sonora, Mexico, back in 2009. Painstaking work over many years has established that the company’s San Javier Project boasts proven IOCG (Iron Oxide Copper Gold) geology. This is following the discovery of a massive magnetite structure, and bonanza silver grades, in 2020. Such a discovery has led to competitors scrambling to stake the surrounding area. A deal in 2025 saw Canuc gain its second proven IOGC project when it acquired the troubled Macdonald Mines for C$5 million in paper. This move brought the East Sudbury Project (ESP) into the company, and with it an estimated US$35 million of historic exploration spend.