DB Frankfurt : 3CC    TSX-V : CLZ     Last: 0.17     Volume: 49000     Day High: 0.165     Day Low: 0.155
Spot Gold: Price $1273.67
Spot Silver: Price $17.91

Properties

– British Columbia Properties

– Lil Silver Project, BC, Canada

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Summary:

Jerry D. Blackwell, P. Geo. B.C., Advisor to the Board of Canasil, is the designated Qualified Person for the Company's technical information in accordance with National Instrument 43 101.

Location and Mineralization:

The 100% owned LIL claims comprise 14 contiguous claims covering 6,145 hectares, located in the Swannell River area in the Aiken Lake district of the Omineca Mining Division, 350 kilometres northwest of Prince George, British Columbia. Logging roads provide four wheel drive access to the property within 3 km of the main showings. The elevation ranges from 1,100m to 1,8005m. Mineralization on the property consists of narrow high grade, silver bearing quartz veins and breccia zones, which are hosted in quartzite and a granitic dyke near fault intersections. The silver-bearing structures have been identified over a distance of 300 metres. Two types of silver bearing floats have been identified in the drift fan of LIL creek. Smaller floats from narrower veins contain arsenopyrite in addition to silver-bearing sulphides, corresponding well with the vein outcrops along LIL creek. Larger floats, indicating greater widths, contain no arsenopyrite, very little sphalerite and more polybasite and ruby silver. Their internal structure also shows less quartz and more quartzite inclusions. As this structure is not seen in the outcrops, it is assumed that the larger floats come from other veins not outcropping in the canyon. The narrow silver bearing quartz and breccia veins show similarities to the Keno Hill-Galena Hill mining camp in the Yukon. Some local dolomitized carbonate rocks at the Knoll Hill and Burn showings indicate possibilities of a carbonate replacement system, particularly as limited sampling has shown elevated lead and zinc values at these showings.

Channel Sampling of Silver Veins:

Channel sampling of the exposed silver veins along LIL Creek has returned values ranging from 4.3 ounces/ton silver to 325.4 ounces/ton silver over widths ranging from 0.20 to 0.90 metres. The average grade and width of 22 vein samples is 53.6 ounces/ton over 0.41 metres. Silver mineralization consists primarily of argentite, pyrargyrite (ruby silver), and friebergite in quartz vein and breccia zones developed within a quartzite host. Results of the channel sampling program are listed below.

Metallurgical Testing:

A series of laboratory bench tests have been carried out by BC Research Inc., Vancouver, on a sample of silver ore from the LIL property. The test work showed that the composite sample contained a very high silver grade of over 100 oz/ton and that high rates of recovery were readily obtained through flotation. Silver recoveries of 94 – 98% were obtained with grinds ranging from 37 – 96% passing 200 mesh, with recoveries increasing with finer grinding. A single bulk concentrate grading 7 – 10% silver could be obtained, with potential contaminants such as mercury, cadmium and selenium well below problem levels. Arsenic is also low, and may be further suppressed in the concentrate cleaning stages. BC Research Inc. concluded that the economic potential of this ore appears to be very high using a very simple processing flow sheet.

Exploration Potential:

The property is considered to have the potential to host a high-grade silver deposit based on the quartz vein and breccias as well as potential for a larger carbonate replacement deposit. Further exploration work should be aimed at diamond drilling to test the high grade silver veins and further surface mapping and sampling as well as an airborne geophysical survey to investigate the potential for a larger mineralized system. Canasil has applied for and received a multi-year permit covering 4,000 metres of diamond drilling for the LIL project.

Channel sampling Results:

Results of channel sampling program on exposed veins along LIL creek:

Sample No.
Width – m
Ag – oz/t
Ag – g/t
Remarks
110480
0.40
158.53
5,437
Cut
110481
0.50
49.33
1,589
Cut
110482
0.20
325.36
11,159
Cut
110483
0.35
43.04
1,476
Cut
110484
3.60
0.82
28
Fault zone; No sulfides
77221
0.25
103.44
3,548
Cut
77222
0.30
12.33
423
Cut
77223
0.20
28.24
968
Cut
77224
0.30
97.98
3,360
HW Cut
77225
0.35
21.59
740
FW Cut
Av. 224+225
0.65
56.85
1,950
 
77226
0.40
69.56
2,385
Cut
77227
0.20
22.80
782
Cut
77228
0.30
26.56
911
Cut
77229
0.30
36.07
1,237
Cut
Av. 228+229
0.60
31.31
1,074
 
72230
0.45
51.33
1,760
HW Cut
72231
0.45
38.81
1,331
FW Cut
Av. 230+231
0.90
45.07
1,545
 
72232
0.40
6.82
233
Cut
72233
0.35
4.33
148
Cut
72234
0.20
39.30
1,348
 
72235
0.25
4.65
159
HW Cut
72236
0.30
46.39
1,591
FW Cut
Av. 235+236
0.55
25.59
878
 
72237
0.20
96.09
3,295
Cut
72238
1.50
0.95
32
Breccia; No sulfides