Canasil Intersects 9.86 metres with 388 g/t Silver, 1.36% Zinc and 1.35% Lead at La Esperanza Silver-Zinc-Lead Project in Zacatecas State, Mexico
September 14, 2006
Vancouver, September 14, 2006 – Canasil Resources Inc. (“Canasil” TSX-V: CLZ) is pleased to announce encouraging results from diamond drill holes ES-06-03 and ES-06-04 at the La Esperanza Silver-Zinc-Lead project in Zacatecas State, Mexico. The project is located on the border of Zacatecas and Durango States, close to a number of prominent operating silver mines – San Martin mine operated by Grupo Mexico, the La Colorada mine of Pan American Silver and La Parrilla mine of First Majestic Resource Corp.
Average assay results from the mineralized intercepts in ES-06-03 and ES-06-04 are listed below. For completeness, average assay results from drill hole ES-06-02, which has been previously reported on August 29, 2006, is also included in the table.
|
Sample |
Interval - Metres |
Width |
Grades | ||||
|
Silver g/t |
Silver oz/t |
Zinc % |
Lead % | ||||
|
La Esperanza Project - Diamond Drill Hole ES-06-02 | |||||||
|
Average |
100.22 |
107.74 |
7.52 |
210 |
6.13 |
1.25 |
1.03 |
|
Incl. |
101.68 |
107.74 |
6.06 |
249 |
7.26 |
1.48 |
1.22 |
|
and |
101.68 |
104.17 |
2.49 |
458 |
13.36 |
2.20 |
2.31 |
|
and |
102.60 |
103.75 |
1.15 |
615 |
17.94 |
3.37 |
2.12 |
|
La Esperanza Project - Diamond Drill Hole ES-06-03 | |||||||
|
Average |
78.90 |
80.66 |
1.76 |
274 |
7.99 |
0.20 |
0.10 |
|
Average |
102.80 |
104.30 |
1.50 |
287 |
8.37 |
0.38 |
2.12 |
|
La Esperanza Project – Diamond Drill Hole ES-06-04 | |||||||
|
Average |
88.45 |
90.80 |
2.35 |
142 |
4.14 |
2.32 |
1.07 |
|
Average |
116.83 |
127.25 |
9.86 |
388 |
11.32 |
1.36 |
1.35 |
|
Incl. |
118.92 |
121.58 |
2.66 |
634 |
18.49 |
1.56 |
1.45 |
|
And |
124.47 |
127.25 |
2.78 |
593 |
17.30 |
0.35 |
1.09 |
g/t (grams per metric tonne) is converted to oz/t (ounces per short ton) by a conversion factor of 34.2856
Drill hole ES-06-04 intercepted the hanging wall vein at a drill depth of 88.45 metres with a drill intercept of 2.35 metres with average assays of 142 g/t silver, 2.32% zinc and 1.07% lead, and the main La Espernaza vein at a drill depth of 116.83 metres with a drill intercept of 9.86 metres (true width 7.52 metres), with an average grade of 388 g/t silver, 1.36% zinc and 1.35% lead. Two central higher-grade zones within the La Esperanza vein returned average assays of 634 g/t silver, 1.56% zinc and 1.45% lead over a drill intercept of 2.66 metres (true width 2.03 metres), and 593 g/t silver, 1.09% zinc and 0.35% lead over a drill intercept of 2.78 metres (true width 2.12 metres). Sample No. 5077 from ES-06-04 returned an assay value of 2,203 g/t silver over a width of 0.35 metres. A table with the results from individual assay samples from ES-06-03 and ES-06-04 is attached below.
Drill holes ES-06-03 intersected the mineralized hanging wall vein at a drill depth of 78.90 metres with a drill intercept of 1.76 metres with average assays of 274 g/t silver, 0.20% zinc and 0.10% lead, and the main La Esperanza vein at a drill depth of 102.80 metres with a drill intercept of 1.50 metres with average assays of 287 g/t silver, 0.38% zinc and 2.12% lead.
Six drill holes, ES-06-01 to ES-06-06, have been completed to date for a total of 793 metres, and work is in progress on ES-06-07. Results for ES-06-01 and ES-06-02 were announced on August 29, 2006. ES-06-03 and ES-06-04 were aimed at investigating the continuity of the vein system at approximately 40 metres and 100 metres along strike, at the same depth as the mineralized drill intercept seen in drill hole ES-06-02. With the results from drill holes ES-06-03 and ES-06-04, the continuity of the mineralized vein structure at the La Esperanza project has been confirmed over a strike distance of 100 metres.
Eng. Erme Enriquez, Director of Exploration and Development of Minera Canasil S.A. de C.V., the Company’s wholly owned Mexican subsidiary, is responsible for the planning and implementation of the drill program. All core samples are processed at the Company’s core processing and storage facility in Durango, Mexico. Samples are cut by diamond saw, and half is sent for assay and half secured for reference. Samples are sent to the SGS Laboratories in Durango for processing and assay analysis for gold and silver by fire assay with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for copper, lead and zinc by digestion of 1.00 gram sample in aqua regia and analysis by AA. A duplicate set of pulp samples are also sent to ALS Chemex Laboratories in Vancouver for check assays. 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.
The La Esperanza Silver-Zinc-Lead project covers 435 hectares, located 100 km SSE of the city of Durango on the border between Durango and Zacatecas States. The project site is easily accessible from Canasil’s operating base in Durango.
About Canasil:
Canasil is a Canadian 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 directors and management include 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 evaluating additional acquisition opportunities.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
604-709-0109
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the content of this news release.
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made.
|
Sample |
Interval - Metres |
Width |
Grades | ||||
|
Silver g/t |
Silver oz/t |
Zinc % |
Lead % | ||||
|
La Esperanza Project - Diamond Drill Hole ES-06-03 | |||||||
|
5035 |
78.90 |
79.74 |
0.84 |
449 |
13.1 |
0.202 |
0.091 |
|
5036 |
79.74 |
80.66 |
0.92 |
114 |
0.41 |
0.193 |
0.101 |
|
Average |
78.90 |
80.66 |
1.76 |
274 |
7.99 |
0.20 |
0.10 |
|
5046 |
102.80 |
103.93 |
1.13 |
289 |
8.43 |
0.304 |
2.660 |
|
5047 |
103.93 |
104.30 |
0.37 |
280 |
8.17 |
0.600 |
0.460 |
|
Average |
102.80 |
104.30 |
1.50 |
287 |
8.37 |
0.38 |
2.12 |
|
La Esperanza Project – Diamond Drill Hole ES-06-04 | |||||||
|
5050 |
88.45 |
89.10 |
0.65 |
224 |
6.53 |
1.55 |
0.972 |
|
5051 |
89.10 |
89.91 |
0.81 |
135 |
3.94 |
2.30 |
1.290 |
|
5052 |
89.91 |
90.42 |
0.51 |
40 |
1.17 |
1.42 |
0.270 |
|
5053 |
90.42 |
90.80 |
0.38 |
154 |
4.49 |
4.90 |
1.830 |
|
Average |
88.45 |
90.80 |
2.35 |
142 |
4.14 |
2.32 |
1.07 |
|
5058 |
116.83 |
117.86 |
1.03 |
126 |
3.68 |
4.12 |
1.650 |
|
5059 |
117.86 |
118.48 |
0.62 |
155 |
4.52 |
3.49 |
3.200 |
|
5060 |
118.48 |
118.92 |
0.44 |
140 |
4.08 |
1.57 |
1.600 |
|
5061 |
118.92 |
119.50 |
0.58 |
492 |
14.35 |
4.56 |
4.730 |
|
5062 |
119.50 |
120.00 |
0.50 |
708 |
20.65 |
0.860 |
0.462 |
|
5063 |
120.00 |
120.62 |
0.62 |
972 |
28.35 |
0.434 |
0.261 |
|
5064 |
120.62 |
121.10 |
0.48 |
502 |
14.64 |
1.18 |
0.810 |
|
5065 |
121.10 |
121.58 |
0.48 |
424 |
12.37 |
0.489 |
0.680 |
|
5066 |
121.58 |
121.92 |
0.34 |
240 |
7.00 |
0.466 |
2.180 |
|
5067 |
122.48 |
123.00 |
0.52 |
106 |
3.09 |
0.284 |
0.961 |
|
5068 |
123.00 |
123.44 |
0.44 |
11 |
0.32 |
0.546 |
0.770 |
|
5069 |
123.44 |
124.00 |
0.56 |
34 |
0.99 |
0.597 |
0.300 |
|
5070 |
124.00 |
124.47 |
0.47 |
96 |
2.80 |
0.631 |
0.592 |
|
5071 |
124.47 |
124.96 |
0.49 |
355 |
10.35 |
0.533 |
0.550 |
|
5072 |
124.96 |
125.66 |
0.70 |
357 |
10.41 |
0.259 |
0.390 |
|
5073 |
125.66 |
125.80 |
0.14 |
173 |
5.05 |
0.872 |
0.441 |
|
5074 |
125.80 |
126.33 |
0.53 |
481 |
14.03 |
0.162 |
1.350 |
|
5075 |
126.33 |
126.80 |
0.47 |
315 |
9.19 |
0.247 |
1.800 |
|
5076 |
126.80 |
126.90 |
0.10 |
259 |
7.55 |
0.522 |
1.150 |
|
5077 |
126.90 |
127.25 |
0.35 |
2,203 |
64.25 |
0.412 |
2.170 |
|
Average |
116.83 |
127.25 |
9.86 |
388 |
11.32 |
1.36 |
1.35 |
|
Incl. |
118.92 |
121.58 |
2.66 |
634 |
18.49 |
1.56 |
1.45 |
|
And |
124.47 |
127.25 |
2.78 |
593 |
17.30 |
0.35 |
1.09 |
g/t (grams per metric tonne) is converted to oz/t (ounces per short ton) by a conversion factor of 34.2856