Canasil Acquires Los Azules Gold-Silver-Copper Property in Sinaloa State, Mexico
May 11, 2005
VANCOUVER, May 11, 2005 – Canasil Resources Inc. (Canasil, TSXV: CLZ) announces that the Company’s wholly owned Mexican subsidiary, Minera Canasil S.A. de C.V. (Minera Canasil), has acquired the Los Azules and Los Azules I silver-gold mineral claims in Sinaloa State, Mexico. Both claims have been acquired through staking and host prospects for epithermal low sulphidation vein type mineralization carrying gold, silver and copper.
The Los Azules property covers 2,000 hectares, located 60 km southeast of the city of Mazatlan. The infrastructure at the property is excellent with the new Mazatlan-Escuinapa highway, which traverses the western part of the property, providing direct and easy access to the City and port facilities of Mazatlan. Power and water are available throughout the district, from power lines covering the area and a ready supply of water from underground sources.
The mineralization consists of epithermal low sulphidation veins with gold, silver and copper mineralization, hosted by volcanic and intrusive rocks of Tertiary age. The area has shown possibilities for the occurrence of Tourmaline-gold breccias, similar to the mineralization at Los Brasiles, located 15 km northeast of the property. An initial exploratory trench used to strip overburden and evaluate the structure of mineralization on the property identified a mineralized vein over a distance of 40 metres, with a width of approximately 2.40 metres. The alteration zone surrounding the vein covers a distance of approximately 25 metres. Intrusive rocks with quartz stockwork are observed in this alteration zone.
18 samples collected to evaluate and define the boundaries of the claims returned encouraging results in gold, silver and copper, with grades up to 2.71 g/t gold, 60 g/t silver and 4.49% copper observed in various samples with widths of 1.0 – 1.5 metres.
The Los Azules project is a significant acquisition covering a large prospective area with potential for the occurrence of gold-silver-copper mineralization. It is extremely well located offering opportunities for cost effective exploration, and if warranted further development, as well as low acquisition and maintenance costs. The Company will be conducting the initial phase of geologic evaluation and sampling to define drill targets and determine the potential for this project.
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