Canasil Intersects 12% Zinc and 50 g/t Silver over 7.45 metres Close to SurfaceAt the Salamandra Zinc-Silver Project in Durango, Mexico
April 30, 2007
Vancouver, April 30, 2007 – Canasil Resources Inc. (“Canasil” TSX-V: CLZ) is pleased to announce that initial results from diamond drill hole SA-07-02 at the Salamandra project in Durango, Mexico, returned high-grade zinc as well as silver mineralization located close to the surface. 15 initial samples from two zones returned average grades of 12% zinc and 50 g/t silver over 7.45 metres from 27.65 metres to 35.10 metres, and 102 g/t silver and 0.55% zinc over 9.85 metres from 7.40 metres to 17.25 metres. There were several high-grade intercepts of up to 22.50% zinc and 90 g/t silver over 1.50 metres at a drill depth of 32.60 metres, and up to 210 g/t silver and 0.66% zinc over 1.80 metres at a drill depth of 11.70 metres. The discovery of disseminated zinc and silver mineralization close to the surface at the Salamandra project is very encouraging.
Average assay results and significant intercepts from the initial 15 samples from drill hole SA-07-02 are listed in the table below:
|
Salamandra Project – Diamond Drill Hole SA-07-02, April 2007 |
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|
Ref. No. |
Sample No. |
Sample Interval - metres |
Width Metres |
Grades |
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|
From |
To |
Silver g/t |
Zinc % |
Copper % |
|||
|
1 |
5601 |
7.40 |
8.40 |
1.00 |
23.3 |
0.30 |
0.011 |
|
2 |
5602 |
8.40 |
10.00 |
1.60 |
33.7 |
0.21 |
0.020 |
|
3 |
5603 |
10.00 |
11.70 |
1.70 |
28.4 |
0.17 |
0.019 |
|
4 |
5604 |
11.70 |
13.50 |
1.80 |
210.0 |
0.66 |
0.029 |
|
5 |
5605 |
13.50 |
15.00 |
1.50 |
139.0 |
0.74 |
0.021 |
|
6 |
5606 |
15.00 |
16.50 |
1.50 |
106.0 |
0.84 |
0.023 |
|
7 |
5607 |
16.50 |
17.25 |
0.75 |
172.0 |
1.26 |
0.024 |
|
Average Grade |
7.40 |
17.25 |
9.85 |
102 |
0.55 |
0.02 |
|
|
8 |
5608 |
26.65 |
27.65 |
1.00 |
4.1 |
0.11 |
0.015 |
|
9 |
5609 |
27.65 |
28.40 |
0.75 |
55.5 |
2.84 |
0.075 |
|
10 |
5610 |
28.40 |
28.90 |
0.50 |
78.8 |
11.75 |
0.131 |
|
11 |
5611 |
28.90 |
29.50 |
0.60 |
16.9 |
2.64 |
0.099 |
|
12 |
5612 |
29.50 |
31.00 |
1.50 |
39.3 |
17.30 |
0.250 |
|
13 |
5613 |
31.00 |
32.60 |
1.60 |
53.1 |
12.30 |
0.240 |
|
14 |
5614 |
32.60 |
34.10 |
1.50 |
90.0 |
22.50 |
0.472 |
|
15 |
5615 |
34.10 |
35.10 |
1.00 |
3.9 |
0.47 |
0.018 |
|
Average Grade |
27.65 |
35.10 |
7.45 |
50 |
12.0 |
0.22 |
|
Alvin Jackson, Director of Canasil, commented: “We are very encouraged by the mineralized zones and zinc and silver grades observed from the initial drill results at Salamandra as they indicate potential for disseminated high-grade zinc as well as silver mineralization lying close to the surface. We are looking forward to additional assay results from drill hole SA-07-02 and the other drill holes completed to date.”
Canasil Resources Inc.
Drill hole SA-07-02 was drilled to a depth of 198 metres. Assay results have been received from the initial 15 samples taken from two zones with a total width of 18.30 metres. 86 additional samples from the rest of drill hole SA-07-02 have been sent for assay and results are pending. The Company has now completed 4 drill holes for total of 1,077 metres. Drill core samples from the remaining holes are being prepared for assay and results will be announced in due course.
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 project provide favourable conditions for exploration and development. The Salamandra project is located on the mineral-rich Fresnillo geologic trend, approximately 80 km northwest of the San Martin mine of Grupo Mexico, which is the largest underground zinc-copper-silver producer in Mexico operating at approximately 6,000 tonnes per day. The Company has recently acquired through staking a 100,000 hectare (247,000 acre) claim area surrounding the Salamandra project as announced on March 27, 2007.
The diamond drill program is being supervised and implemented by the Company's wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V., under the direction of Erme Enriquez, Director of Exploration and Development. Drill core is sent from the project site to the Company’s core processing and storage facility in Durango. Core samples from half of the drill core are cut by diamond saw and sent to SGS Laboratories in Durango and to ALS Chemex Laboratories in Hermosillo for processing and preparation, with sample pulps assayed by SGS Laboratories In Toronto and ALS Chemex Laboratories in Vancouver with 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 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.
For further information please contact:
| Bahman Yamini President and C.E.O. Canasil Resources Inc. 604-709-0109 |
Doug Kerr Corporate Communications 604-718 5454 Email: [email protected] |
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