Orex Commences Phase-IV Diamond Drilling at the Sandra-Escobar Project in Durango State, Mexico
November 7, 2016
Vancouver, December 10, 2015 - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) is pleased to announce that Orex Minerals Inc. (TSX-V: REX, “Orex”) has started its planned core drilling program at the Sandra-Escobar Silver Project in northern Durango State, Mexico. This Phase-I drill program will consist of about 2,000 metres in as many as 12 drill holes.
The Sandra-Escobar Project is being advanced by Orex under an option agreement announced by Canasil and Orex on September 15, 2015. The project is located 200 km northwest of the City of Durango with excellent access and infrastructure, within a prolific mining district hosting several past and present producing mines and significant silver-gold deposits.
Bahman Yamini, President and CEO of Canasil commented, “We are very pleased with the progress of the exploration program by Orex at Sandra-Escobar with the start of the Phase-1 drill program, and look forward to the results from this phase of exploration at the project.”
Sandra-Escobar Silver-Gold Project, Durango, Mexico:
The Sandra-Escobar project is located 200 km northwest of the City of Durango, Mexico, in the heart of the “Mexican Silver Trend”, with excellent access and infrastructure. This prolific trend hosts some of the world’s largest silver camps and deposits with many past and present producing mines and significant silver-gold deposits. The project area covers over 8,100 hectares of mineral concessions with multiple mineralized epithermal veins and breccia structures. These veins form a high level silver-gold-base metals system, hosted in andesitic and rhyolitic rocks, centered on a large rhyolite dome complex in the north and silver systems in smaller rhyolite dome complexes to the southeast. Intense alteration zones and fluid flooding in permeable formations may also indicate the presence of bulk tonnage targets.
The technical information in this News Release has been reviewed by J. Blackwell (P. Geo.), a Qualified Person as defined by National Instrument 43-101. Mr. Blackwell is a technical advisor to Canasil.
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.
For further information please contact:
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such 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 or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward looking statement will come to pass and investors should not place undue reliance upon forward-looking statements.