Canasil 3-D Geophysical Survey Outlines Potential Drill Targets at
the Salamandra Zinc-Silver Project in Durango State, Mexico
November 30, 2006
VANCOUVER, November 30, 2006 – Canasil Resources Inc. (Canasil, TSXV: CLZ) is pleased to announce the results of a 10 kilometre 3-Dimensional Induced Polarization (IP) / Resistivity survey on the Salamandra Zinc–Silver project in Durango State, Mexico. The initial survey results show two large chargeability anomalies measuring 200 to 400 metres in width by 800 to 1,000 meters in strike, with thicknesses of 200 to 300 meters. The anomalies are located on the southern flank of an intrusive body below the area of previously sampled surface zinc and silver mineralization, as well as beneath the intrusive body at a depth of 200 to 500 meters.
The geophysical survey consisted of 10 kilometres of 3-D IP / Resistivity survey covering the apex and southern flank of a rhyolite porphyry intrusive formation into siliceous-limy sediments. The survey was designed to test for sulphide mineralization with associated zinc and silver bearing zones within limestones and siltstones in a poorly exposed bedrock area along the margin of the rhyolite porphyry intrusive formation. Eleven previous rock chip and grab samples from this area range in value from 0.41% - 7.84 % Zinc and 4g/t - 39.8 g/t Silver, averaging 3.1 % Zinc and 15.8 g/t Silver.
The target is a sulphide mantle replacement zinc and silver mineralized formation along the intrusive contacts, similar to the San Martin deposit of Group 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.
Canasil is highly encouraged by the discovery of the two large IP chargeability anomalies on the contact of the rhyolite porphyry intrusive, and is planning a drill program to test both IP anomalies upon completion of Phase 1 drilling on its Colibri Zinc-Silver-Copper project within the first quarter of 2007.
The Salamandra project covers 2,900 hectares (7,163 acres), located 35 km NE of the city of Durango in the El Guadiana valley in Durango State, with good access from Durango via paved and gravel roads. The access, infrastructure, climate and topography at Salamandra provide favourable conditions for exploration and development.
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 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For further information please contact:
Mr. Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109
www.canasil.com
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