DB Frankfurt : 3CC    TSX-V : CLZ     Last: 0.17     Volume: 49000     Day High: 0.165     Day Low: 0.155
Spot Gold: Price $1273.90
Spot Silver: Price $17.92

News Releases

– 2010

Power Point Presentation Fact Sheet

Email Sign Up

print page
 
print page
 

Canasil Defines New High-Grade Silver Veins at La Esperanza Project in Durango/Zacatecas States, Mexico

Vancouver - Canasil Resources Inc. (Canasil, TSX-V: CLZ) announces that a recently completed geological mapping and surface sampling program in the northwest area of the Company’s La Esperanza Silver project in Durango and Zacatecas States, Mexico, has defined several high-grade silver veins with a combined strike length of over 1.5 kilometres. The vein outcrops are located on the recently extended northwest zone of the 19,000 hectare project area, approximately 10 kilometres along strike northwest of the La Esperanza vein. The Company collected 37 rock chip and dump samples from the vein outcrops and from adjacent dumps of mineralized material left over from past artisanal mining activity. The table below provides details of significant samples for reference:

  La Esperanza Project NW Zone - Silver Vein Samples
Sample
Vein
Width
m
Ag
g/t
Au
g/t
Pb
ppm
Zn
ppm
Cu
ppm
10732
Los Alamitos
1.10
548
0.08
1210
57
14
10733
Los Alamitos
1.00
132
0.13
2610
180
34
10734
Los Alamitos
2.00
80
0.02
1835
2770
14
10736
Los Alamitos
1.25
502
0.11
1915
143
29
10738
Los Alamitos
1.20
294
0.02
1355
652
19
10739
Los Alamitos
1.20
67
0.00
904
393
6
10747
Los Alamitos
3.00
91
0.00
461
195
6
10748
Los Alamitos
Dump
787
0.02
1425
458
22
10742
Los Alamitos/El Encino
0.50
256
0.04
1190
1180
65
10743
Los Alamitos/El Encino
Float
93
0.00
1765
710
22
10749
C. Colorado/S. Pascual
Dump
85
0.09
2570
2700
101
10750
C. Colorado/S. Pascual
Dump
256
0.40
8920
4720
160
10751
C. Colorado/S. Pascual
0.60
398
0.27
5610
221
342
10752
C. Colorado/S. Pascual
1.00
106
0.03
3130
2780
201
10753
C. Colorado/S. Pascual
0.50
327
0.09
4160
49100
528
10754
C. Colorado/S. Pascual
1.20
405
0.04
3340
1230
134
10755
C. Colorado/S. Pascual
Dump
150
0.08
2030
566
64
10756
C. Colorado/S. Pascual
Dump
152
0.10
1560
4940
186
10770
Fatima
Float
56
0.01
3040
921
43
10771
Fatima
Dump
48
0.03
3080
434
34
10772
Fatima
Dump
588
0.04
1980
826
65
10773
Fatima
1.0
591
0.05
3050
1700
182
10774
Fatima
Float
95
0.05
8440
1145
578
10775
Fatima
1.0
83
0.01
30500
1990
136
10777
Fatima
Dump
68
0.01
18650
1280
120
10780
Fatima
Dump
109
0.02
45400
59000
526


The results confirm the reports of silver bearing veins in the new claim areas with significantly higher grades than historical reports indicated. The location of these vein outcrops with respect to the La Esperanza vein, located 10 kilometres to the southeast and which has been previously drilled returning high-grade silver intercepts over wide widths as previously reported and detailed below, indicates the potential for identifying further buried silver bearing veins over the very extensive project area. The occurrence of several high-grade silver samples with over 250 g/t silver from the veins and dumps is particularly encouraging.

The La Esperanza project is located in the Chalchihuites district in northern Zacatecas and southern Durango States. This recognized silver district hosts a number of active mines such as Pan American Silver’s La Colorada and First Majestic’s La Parrilla silver-lead-zinc mines. The Company has increased the claim area at the La Esperanza project to 19,011 hectares. The claims now cover the prospective SE-NW trend where significant alteration is observed along over 4 km strike extensions of the La Esperanza vein. The La Esperanza vein outcrops over a strike distance of 300 metres and has been drill tested with 9 diamond drill holes for a total of 1,422 metres. As previously reported, the drilling intersected a high grade epithermal vein shoot with an average grade of 396 g/t silver, 0.71% zinc and 1.96% lead over a true width of 10.30 metres. The extensive alteration zones observed around the La Esperanza vein and surrounding structures together with the newly identified vein system in the northwest zone of the project area indicate a possibility of a district scale epithermal silver vein system.

The surface sampling and geological mapping program was supervised and carried out by the Company's wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V., under the direction of Erme Enriquez CPG, Director of Exploration and Development. Samples were sent to ALS Chemex Laboratories in Zacatecas, ZA Mexico, for preparation and on to ALS Chemex in North Vancouver, B.C. Canada for assay analysis for gold and silver by fire assay with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for copper, lead and zinc by digestion of 1.00 gram sample in aqua regia and analysis by AA. Gary Nordin, P. Geo. British Columbia and Director of Canasil, is the designated Qualified Person for this project in accordance with National Instrument 43-101.

About Canasil:

Canasil is a Canadian mineral exploration company with interests in precious and base metal projects in Durango, Sinaloa and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects. The Company is engaged in the exploration of its mineral properties.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release