TSX-V:
CLZ
www.canasil.com
VANCOUVER, Sept. 26, 2019 /CNW/ - Canasil Resources
Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil" or
the "Company") is pleased to report high-grade
silver-gold-copper-zinc-lead assays from outcrops along the Candy
vein at the Nora project in Durango State, Mexico. The work was completed in August 2019 and includes 21 samples taken from
outcrops of the vein, 31 samples from adjacent country rocks and 12
samples from waste piles ("dumps"), all collected over a distance
of 918 metres. The objective of this work was to confirm the
high-grade mineralization in the Candy vein and to identify
possible locations for subsequent drilling. The Candy vein, an
epithermal gold-silver target, has not been previously drilled.
There has been limited, historical mining of the Candy vein, and
small mineralized waste dumps are present.
The high gold, silver, copper, lead and zinc grades from the
Candy vein over a significant strike length, and from mineralized
dumps, are very encouraging. Average grade of 21 samples from the
Candy vein is 1.69 g/t gold (Au), 140 g/t silver (Ag), 0.40%
copper (Cu), 1.59% lead (Pb), and 0.57% zinc (Zn) over 0.68
metres. The highest silver grade was in sample #14278
with 3.72 g/t Au, 605 g/t Ag, 0.97% Cu, 1.17% Pb and 0.40%
Zn over 1.0 metre. The highest gold value was in sample #14311
with 12.55 g/t Au, 12.2 g/t Ag, 1.02% Cu, 2.67% Pb and 0.68% Zn
over 0.40 metres. The average grade of the 12 dump samples is
1.40 g/t Au, 86 g/t Ag, 1.06% Cu, 3.37% Pb, and 1.64% Zn.
Details of the results from selected higher-grade samples, some of
which include partially oxidized material, are included in the
table below for reference.
Canasil President and CEO, Bahman
Yamini, commented: "The high silver and gold grades, as
well as copper, lead and zinc values, observed in surface outcrops
from the Candy vein, and from associated mineral dumps, over a
strike length of over 900 metres suggest the potential for a strong
high grade epithermal vein with excellent targets for drill
testing."
Nora Project,
Durango State, Mexico – Candy Vein Surface Samples, August
2019
|
Sample
|
Easting
|
Northing
|
Elevation
|
Width
|
Sample
|
Gold
|
Silver
|
Copper
|
Lead
|
Zinc
|
Number
|
|
|
|
Metres
|
Type
|
g/t
|
g/t
|
%
|
%
|
%
|
14278
|
451609
|
2822331
|
2017.12
|
1
|
Vein
|
3.72
|
605
|
0.97
|
1.17
|
0.40
|
14280
|
451615
|
2822338
|
2018.52
|
1.4
|
Rock
|
0.892
|
392
|
0.06
|
0.19
|
0.05
|
14281
|
451614
|
2822339
|
2018.70
|
1
|
Vein
|
2.98
|
540
|
0.85
|
4.00
|
3.55
|
14286
|
451621
|
2822385
|
2014.26
|
0.3
|
Vein
|
1.35
|
28.5
|
0.07
|
0.45
|
0.19
|
14287
|
451623
|
2822395
|
1972.83
|
0.6
|
Vein
|
2.18
|
316
|
0.57
|
2.44
|
0.17
|
14288
|
451629
|
2822403
|
1984.14
|
0.8
|
Vein
|
3.03
|
585
|
2.80
|
5.24
|
1.83
|
14290
|
451639
|
2822398
|
1997.50
|
D
|
Dump
|
2.42
|
203
|
0.87
|
8.05
|
2.10
|
14291
|
451636
|
2822404
|
1998.69
|
D
|
Dump
|
2.23
|
158
|
0.66
|
3.15
|
0.58
|
14292
|
451635
|
2822413
|
1997.18
|
D
|
Dump
|
1.50
|
84.5
|
0.41
|
3.32
|
0.63
|
14293
|
451631
|
2822419
|
1998.43
|
D
|
Dump
|
1.72
|
215
|
0.38
|
2.94
|
0.71
|
14294
|
451624
|
2822428
|
1999.51
|
D
|
Dump
|
1.90
|
40.6
|
0.26
|
2.98
|
0.88
|
14296
|
451645
|
2822420
|
2013.84
|
D
|
Dump
|
2.47
|
80.7
|
0.58
|
5.22
|
0.81
|
14297
|
451634
|
2822444
|
2009.87
|
D
|
Dump
|
2.89
|
193
|
2.64
|
7.19
|
9.76
|
14299
|
451626
|
2822578
|
2006.46
|
0.6
|
Vein
|
6.55
|
10.4
|
0.06
|
0.28
|
0.05
|
14311
|
451608
|
2822812
|
2009.71
|
0.4
|
Vein
|
12.55
|
12.2
|
1.02
|
2.67
|
0.68
|
About Nora Silver-Gold-Copper-Zinc-Lead, Durango State,
Mexico:
The Nora project is located approximately 200 km north-west of
the City of Durango, with good access and infrastructure. There are
two principal epithermal vein outcrops at the Nora project, the
Candy and Nora veins. There is evidence of historical mining
activity on the Candy vein, which can be traced for over 900 metres
on surface, with the structure exposed in discontinuous outcrops
for over a distance of 3 km. Samples of vein outcrop and mineral
dumps from the Candy vein returned significant gold, silver,
copper, zinc and lead values. The Nora vein is found 600 metres
northeast of the Candy vein and can be traced for 230 metres with
widths of over 9.0 metres. Surface samples from this vein returned
anomalous silver values and contained trace sulphides and a
geochemical signature typical of the higher levels of an epithermal
vein system.
Historical systematic grid soil sampling over an area of 3 km by
2 km covering the Candy and Nora veins and projected extensions,
showed elevated silver, base metal (copper, lead and zinc) and
pathfinder (antimony and arsenic) values. The combination of the
vein outcrops with large areas of anomalous silver and base metal
values in soil samples may indicate additional concealed mineral
systems.
About Canasil:
Canasil is a Canadian mineral exploration company with a strong
portfolio of 100% owned silver-gold-copper-lead-zinc projects in
Durango 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 through to discovery and further development.
The Company is actively engaged in the exploration of its mineral
properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and
support staff for its operations in Mexico.
The technical information herein has been reviewed and approved
by J. Blackwell (P. Geo.), a Qualified Person as defined by
National Instrument 43-101. Mr. Blackwell is a technical advisor to
Canasil.
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 news release.
This news release includes certain statements that may be
deemed to be "forward-looking statements". All statements in this
release, other than statements of historical facts are forward
looking statements, including statements that address future
mineral production, reserve potential, exploration drilling,
exploitation activities and events or
developments. These statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such 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 or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include, but are not limited to, changes
in commodities prices, exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. The reader is referred to the
Company's filings with the Canadian securities regulators for
disclosure regarding these and other risk factors. There is no
certainty that any forward looking statement will come to pass and
investors should not place undue reliance upon forward-looking
statements.
SOURCE Canasil Resources Inc.