Canasil Identifies New Mineralized Structure on the Colibri Silver Lead Zinc and Gold Property in Durango State, Mexico
January 23, 2006
VANCOUVER, January 20, 2006 – Canasil Resources Inc. (Canasil, TSXV: CLZ) announces that recent inspection and prospecting has identified a potentially significant mineralized structure at the Colibri silver lead zinc and gold project in Durango State, Mexico. Gary Nordin, P. Geo. British Columbia, Director of Canasil and the designated Qualified Person in accordance with National Instrument 43-101, visited the project to review plans for a geologic mapping and surface sampling program. Assays of 8 samples taken from this structure are expected within the next three weeks.
The structure is a strongly mineralized vein and vein stockwork varying between 2.5 metres to 8.0 metres in width on the surface. The vein was traced over a strike length of over 300 metres and is open along strike. Mineralization observed in the vein consists of heavy sulphides, primarily pyrite and arsenopyrite, with adjacent quartz stockwork. Artisanal miners have prospected the northwestern extent of the vein with old adits and shafts over a strike length of 100 metres. The Company is waiting for the results from the samples taken from this structure to evaluate and confirm the nature of the mineralization observed.
The Company acquired the Colibri claims by staking in October 2005. The claims cover 6,000 hectares, and are located on the eastern border of the Sierra Madre Occidental volcanic province. The claim area hosts a number of prospects with epithermal-mesothermal vein type mineralization carrying silver, lead, zinc and gold. The Company plans to proceed with a program of geological mapping and sampling to evaluate the mineralized structures observed at Colibri in order to define drill targets.
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 in 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 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:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109
www.canasil.com