Canasil Files NI43-101 Technical Report on La Esperanza Silver-Zinc-Lead Project in Zacatecas State, Mexico
January 10, 2007
Vancouver, January 10, 2007 - Canasil Resources Inc. (Canasil, TSX-V: CLZ) is pleased to announce that the Company has received and filed the NI 43-101 Technical Report on the Phase 1 diamond drill program at the La Esperanza Silver-Zinc-Lead project in Zacatecas State, Mexico, prepared by Dr. Peter A. Christopher, P. Eng. PHD. The report may be viewed on the Company’s website at http://canasil.com/_resources/la_esperanza_tp.pdf?v=0.860 , and on SEDAR at www.sedar.com .
The report concludes and recommends that: “The widths and grades observed in the Phase 1 drill program indicate a strongly mineralized system, which is open along strike and dip. Based on the success of the initial 1,182 meter drilling program..., a Phase 2A, 2500 meters drilling program for testing along vein strike and dip and for resource definition is recommended. A Phase 2B resource estimate and preliminary assessment (scoping study) is recommended after completion of Phase 2 drilling.”
The proposed budget for the recommended Phase 2A diamond drill program is $450,000 and for the Phase 2B scoping study is $50,000. The Company will be evaluating opportunities for financing the proposed programs and plans to proceed with the Phase 2A diamond drill program once the necessary funding has been arranged.
The La Esperanza Silver-Zinc-Lead project covers 435 hectares, located 100 km SSE of the city of Durango on the border between Durango and Zacatecas States. The project site is easily accessible from Canasil’s operating base in Durango, and is close to a number of prominent operating silver mines – San Martin mine operated by Grupo Mexico, the La Colorada mine of Pan American Silver and La Parrilla mine of First Majestic Resource Corp.
Canasil is a Canadian mineral exploration company with interests in base and precious metal properties in British Columbia, Canada, and in Durango, Sinaloa and Zacatecas States, Mexico. The Company’s directors and management include industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of mineral properties and evaluating additional acquisition opportunities.
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