Overview >

Canasil Resources

Northgate Exploration Confirms Approval of 2003 Drilling Program for the Brenda Property
URL: http://canasil.com/news_releases/2007/index.php?content_id=40&page_number=1

Content was created on: March 6, 2003

VANCOUVER, March 6, 2003 – Canasil Resources Inc. (TSX Venture Exchange CLZ) “Canasil” is pleased to announce that Northgate Exploration Ltd. “Northgate” has confirmed approval of the 2003 Exploration Budget providing for continued exploration of the BRENDA gold-copper property, located in the Kemess-Toodoggone mining district in north central British Columbia, Canada, during the 2003 field season. A program of continued diamond drilling has been proposed and the required permits for this work have been obtained.

Northgate intends to make a second option payment before July 31, 2003 within the framework of the Option and Joint Venture agreement concluded in July 2002. The agreement provides for Northgate to earn a 60% interest in the property against $2,000,000 in exploration expenditures and $140,000 in property payments over four years.

The 2002 exploration program conducted by Northgate included geophysical surveys and 1,650 metres of diamond drilling. This program resulted in the discovery of a Kemess-type porphyry system on the BRENDA property, with alteration comparable to that of the Kemess North deposit, as announced by Northgate and Canasil respectively on November 22 and 25, 2002. The focus of the 2003 drill program will be to test for higher grade mineralized zones within this system

About Canasil:

Canasil is a Canadian-based mining and mineral exploration company with a portfolio of precious metal properties in British Columbia, Canada. The management team is focused on enhancing shareholder value by identifying and implementing strategies to increase the value of the Company’s mineral properties through cost effective and responsible development.


For further information please contact:

Mr. Bahman Yamini

President and C.E.O.

Canasil Resource Inc.
604-709-0109
www.canasil.com


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Northgate Exploration Limited with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions.