Canasil Identifies Large Silver-Zinc-Lead-Copper Target with Coincident Geophysical and Geochemical Anomalies at the Salamandra Project in Durango State, Mexico
February 6, 2007
VANCOUVER, February 6, 2007 – Canasil Resources Inc. (Canasil, TSXV: CLZ) is pleased to announce that the results of the surface geochemical sampling program on the Salamandra Zinc–Silver project in Durango State, Mexico, indicate pronounced silver, zinc, lead and copper geochemical soil and rock sample anomalies on the flanks of the main intrusive body. These anomalies are coincident with the chargeability anomalies observed in the 3-D IP/Resistivity survey reported on November 30, 2006.
The occurrence of anomalous silver, zinc, lead and copper results in soil and rock samples capping the areas of subsurface IP chargeability anomalies outlines drill targets to test for buried mineralization at the Salamandra project. The Company is reviewing these results and planning a diamond drill program to test these targets.
The target is a silver-zinc-lead-copper manto replacement / skarn body that occurs along the intrusive contacts, similar to the San Martin deposit of Grupo Mexico located 80 kilometres to the southeast of the Salamandra project. The San Martin Mine is the largest underground zinc-copper-silver mine in Mexico and currently operates at 5,600 tonnes per day.
The geochemical survey consisted of 106 rock chip samples and 237 soil samples, over an area of 3,100 metres by 3,200 metres. The sampling program was designed to test for silver, zinc, copper and lead mineralization, as well as other indicator minerals, within limestones and siltstones in a poorly exposed bedrock area along the margin of the rhyolite porphyry intrusive formation. Rock samples range in value from trace to 87 g/t silver, 5.1% zinc, 1.25% lead and 0.13% copper. Soil samples range in value from trace to 3.3 ppm silver, 2,390 ppm zinc, 720 ppm lead and 169 ppm copper. Figures showing the geophysical and geochemical anomalies are attached.
The Salamandra project covers 2,900 hectares (7,163 acres), located 35 km NE of the city of Durango in Durango State, Mexico, with good access via paved and gravel roads. The access, infrastructure, climate and topography at the Salamandra property provide favourable conditions for exploration and development.
The survey was supervised and carried out by the Company’s geological team based in Durango, Mexico, under the direction of Erme Enriquez, Director of Exploration and Development in Mexico. 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, and has reviewed the contents of this announcement.
About Canasil:
Canasil is a Canadian based mining and 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 management team includes industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects. The Company is actively engaged in the exploration of its mineral properties and in evaluating additional acquisition opportunities.
For further information please contact:
| Bahman Yamini | Doug Kerr |
| President and C.E.O. | Corporate Communications |
| Canasil Resources Inc. | 604-718 5454 |
| 604-709-0109 | Email: [email protected] |
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made.
