Surface sampling at the Sandra Claims in Durango, Mexico, identifies multiple mineralized veins over a distance of 2,000 metres with chip samples returning up to 9.74 g/t gold, 635 g/t silver, 2.46% copper and 20.06% lead
November 2, 2005
VANCOUVER, November 2, 2005 – Canasil Resources Inc. (Canasil, TSXV: CLZ) announces the results from the initial surface sampling and geological mapping program at the Sandra project in Durango State, Mexico. This program has identified a number of mineralized veins over a distance of approximately 2,000 metres in the central area of the Sandra claims. Rock and chip samples from these veins returned encouraging grades in gold, silver, copper and lead, as outlined in the table below.
|
Vein or |
Sample |
UTM |
UTM |
Width |
Au |
Ag |
Cu |
Pb |
Zn |
|
Structure |
No. |
East |
North |
m. |
ppm |
ppm |
ppm |
ppm |
ppm |
|
Maria Fernanda |
442 |
428957 |
2834338 |
Float |
0.393 |
225 |
2600 |
2440 |
166 |
|
Maria Fernanda |
443 |
428925 |
2834327 |
Float |
0.053 |
106 |
2080 |
1065 |
306 |
|
Maria Fernanda |
444 |
428884 |
2834343 |
float |
3.6 |
358 |
3860 |
1490 |
463 |
|
Maria Fernanda |
445 |
428870 |
2834340 |
float |
4.75 |
343 |
3140 |
496 |
182 |
|
Maria Fernanda |
446 |
428856 |
2834332 |
float |
7.05 |
189 |
1745 |
669 |
438 |
|
Maria Fernanda |
447 |
428837 |
2834353 |
1.50 |
2.82 |
139 |
5020 |
859 |
699 |
|
Maria Fernanda |
448 |
428826 |
2834333 |
float |
2.58 |
414 |
24600 |
992 |
645 |
|
Maria Fernanda |
449 |
428790 |
2834325 |
float |
1.65 |
240 |
5020 |
1655 |
1095 |
|
Maria Fernanda |
450 |
428782 |
2834327 |
0.15 |
2.26 |
270 |
4310 |
2430 |
1130 |
|
Maria Fernanda |
453 |
428692 |
2834327 |
float |
1.78 |
181 |
14400 |
1035 |
492 |
|
Maria Fernanda |
454 |
428642 |
2834306 |
float |
9.74 |
393 |
6740 |
2190 |
448 |
|
Maria Fernanda |
455 |
428619 |
2834281 |
float |
2.91 |
362 |
13400 |
1445 |
435 |
|
Maria Fernanda |
456 |
428585 |
2834240 |
float |
0.473 |
160 |
12500 |
4810 |
6790 |
|
Maria Fernanda |
457 |
428591 |
2834302 |
float |
1.565 |
129 |
1540 |
1535 |
879 |
|
Maria Fern. FW |
459 |
428658 |
2834240 |
float |
0.24 |
109 |
5220 |
798 |
352 |
|
Maria Fern. FW |
461 |
428736 |
2834277 |
float |
2.47 |
138 |
13500 |
755 |
267 |
|
Maria Fernanda |
462 |
428984 |
2834325 |
float |
0.555 |
206 |
3130 |
12300 |
573 |
|
Maria Fernanda |
463 |
429004 |
2834335 |
float |
0.818 |
343 |
4560 |
29400 |
479 |
|
Nora |
481 |
429441 |
2834131 |
dumps |
2.26 |
309 |
1695 |
200600 |
635 |
|
Barite |
483 |
429363 |
2833941 |
dumps |
0.035 |
111 |
394 |
4980 |
730 |
|
Barite |
484 |
429332 |
2834002 |
dumps |
0.06 |
480 |
444 |
24300 |
3080 |
|
Barite |
485 |
429316 |
2834025 |
dumps |
0.142 |
253 |
348 |
23600 |
1395 |
|
Sandra |
486 |
429271 |
2834043 |
dumps |
0.103 |
635 |
456 |
91600 |
1855 |
|
Sandra |
494 |
429532 |
2834341 |
dumps |
0.304 |
133 |
18100 |
28100 |
2640 |
|
Sandra |
541 |
429146 |
2834218 |
5.00 |
0.07 |
150 |
218 |
63500 |
2960 |
|
Encino |
556 |
427603 |
2833782 |
4.7 |
0.139 |
113 |
288 |
7740 |
840 |
|
Encino |
557 |
427626 |
2833786 |
0.8 |
0.094 |
245 |
173 |
3910 |
3190 |
|
Encino |
558 |
427635 |
2833835 |
0.7 |
0.03 |
233 |
108 |
7070 |
254 |
|
Encino |
559 |
427639 |
2833819 |
7 |
0.065 |
57.4 |
127 |
3610 |
925 |
The sampling and geological mapping program was carried out between September 18 and October 1, 2005. A total of 120 samples were collected, including rock, vein and silt samples to investigate the mineralized structures observed on the Sandra I and Sandra II claims. The geological structure is typical of the Sierra Madre Occidental region, with Lower Volcanic Group sequence, composed of andesites, agglomerates and breccias, uncomformably overlain by the Upper Volcanic Group sequence, composed mainly of ignimbrites. Acidic dykes and porphyritic andesite form intrusions in these sequences.
The principal Maria Fernanda vein can be traced for 570 metres along strike from east to west, where it splits in two branches, and continues for a further 220 metres. Four other veins, the Sandra, Nora, Barite and Encino veins, outcrop over short distances to the east and west of the Maria Fernanda vein. The presumed extensions of these veins appear to be covered by overburden, and trenching will be required to investigate them. The vein system observed on the Sandra project during this sampling program extends over an area of approximately 2,000 metres by 750 metres.
The vein outcrops at surface are relatively narrow, between 0.15 to 1.5 metres, although floats observed around the central part of the Maria Fernanda vein indicate wider widths. The mineralogy consists of argentite, native silver, electrum, sphalerite, galena and chalcopyrite. There is supergene enrichment consisting of malachite and azurite with small flakes of native silver. Gangue material is made up of quartz, calcite and chlorite.
Further trenching and sampling will be required to investigate the veins and mineralized structures observed during this program, in order to identify specific drill targets. Of particular interest for further evaluation is the area around the Encino vein, which is covered by overburden. The mineralized zone sampled was observed in strongly altered bedrock, and returned 57.4 g/t silver over 7 metres.
The Sandra property covers 1,200 hectares located 183 km northeast of the city of Durango in Durango State, Mexico, and benefits from excellent infrastructure and access. The Company has 100% title to the Sandra claims, which were acquired by staking and are located immediately south of a large claim group controlled by Pan American Silver Corp.
All samples were collected on site and sent for preparation to ALS Chemex Labs in Hermosillo, Mexico, and on to ALS Chemex Labs, Vancouver, for analysis by ICP for multiple elements and fire assay for gold and silver. 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-based mining and mineral exploration company with interests in base and precious metal properties in British Columbia, Canada, and Durango, Sinaloa and Zacatecas States, Mexico. The Company is actively engaged in the exploration of its mineral properties and in evaluating additional acquisition opportunities. 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
Sandra Project, surface sampling map – Sept. 18 – Oct. 1, 2005
1,000 m