Drill Program to start within two weeks on Tres Marias and Cebollas Gold-Silver Projects, Durango, Mexico
October 20, 2004
VANCOUVER, October 20, 2004 – Canasil Resources Inc. (Canasil, TSXV: CLZ) has entered into a diamond drill contract for the Tres Marias and Cebollas projects in Durango State, Mexico. The drill contract covers a minimum of 1,000 metres of core drilling in 7 – 8 drill holes to test the Tahuehueto and Rosario veins at the Cebollas project and the Los Laureles vein at the Tres Marias project. The drill targets were selected following the underground and surface sampling programs and geological mapping completed earlier this year. The samples from these veins returned significant high grade gold and silver assays as announced on April 23 and June 03, 2004. The drill program is expected to take approximately 30 – 45 days to complete with initial results expected in December 2004.
The Tres Marias and Cebollas projects cover 3,163 hectares, located 150 kilometres west of the city of Durango and 14 kilometres southeast of Wheaton River/Luismin’s San Dimas/Tayoltita mine. This mine has produced 9.1 million ounces of gold and 654 million ounces of silver (over 19 million ounces gold equivalent). Canasil entered into an option and joint venture agreement with Wheaton River Minerals and its wholly owned subsidiary Luismin in October 2003 to earn up to a 75% interest in these projects (announced on October 21, 2003).
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 Durango State, Mexico. The Company is reviewing a number of other gold and silver properties in Mexico for acquisition. The management team is focused on identifying and implementing strategies to increase the value of the Company’s mineral properties through cost effective and responsible development.
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