TSX-V: CLZ
www.canasil.com
VANCOUVER, May 24, 2018 /CNW/ - Canasil Resources Inc.
(TSX-V: CLZ, DB Frankfurt: 3CC, "Canasil")
announces that drilling has started at the La Esperanza silver-gold-zinc-lead project in
Durango and Zacatecas States, Mexico. The drill program is planned to follow
up on the positive drill results from the 2016-17 drill program on
the La Esperanza vein, located in
the southeast of the project area.
Canasil President & CEO, Bahman
Yamini, commented: "We are pleased that drilling has
resumed at La Esperanza; the
project covers a large area hosting multiple vein systems with
potential for high-grade silver-gold-zinc-lead mineralization. The
main La Esperanza vein, where the
recent and current drill programs have been focused, demonstrates
signs of a strong mineralized system and has consistently returned
wide high-grade intercepts from drilling to date. This vein has
only been tested over a limited zone along the potential strike of
the vein at a relatively high level in the system. There should be
excellent opportunities for expanding the mineralized envelope
along strike and to depth."
The first drill hole ES-18-20 is targeted to test 50 metres
below and 25 metres to the southeast along strike from the high
grade intercept in drill hole ES-17-16 on the southeastern
extension of the vein. The second drill hole will be targeted to
test 50 metres below and 25 metres to the northwest along strike
from drill hole ES-17-19 on the northwestern side of the
La Esperanza vein. ES-17-16
intercepted the vein on the southeast extension of the vein at a
vertical depth of 200 metres below surface with an interval of
4.92 metres true width returning 257 g/t silver, 0.64% zinc and
0.63% lead, including a high grade zone of 0.95 metres true
width returning 1,133 g/t silver, 1.56% zinc and 2.98% lead.
ES-17-19 intercepted the La
Esperanza vein on the northwest extension of the vein at a
depth of 325 metres below surface, including a hanging wall vein,
the main vein and a footwall vein over an interval of 11.23
metres true width carrying 219 g/t silver, 0.74 g/t gold, 0.90%
zinc and 0.63% lead, including a high grade zone of 1.11 metres
true width returning 6.39 g/t gold, 1,281 g/t silver, 2.23% zinc
and 1.25% lead. Of particular interest are the high grade
silver and gold intervals in these drill intercepts, and a footwall
vein intercepted approximately 6 metres below the main vein in
drill hole ES-17-19. (For details of these results please refer to
news releases dated April 3 and
May 2, 2017, on the Company's website
at www.canasil.com).
The technical information herein has been reviewed and approved
by J. Blackwell (P. Geo.), a Qualified Person as defined by
National Instrument 43-101. Mr. Blackwell is a technical advisor to
Canasil.
About La Esperanza
The La Esperanza
silver-lead-zinc project covers 14,916 hectares, located 100 km SSE
of the city of Durango in southern Durango and northern Zacatecas
States. The project is easily accessible from Canasil's operating
base in Durango with excellent infrastructure. The project is
located on the well-recognized world class Fresnillo silver belt, hosting a number of
prominent silver mines such as the San
Martin-Sabinas mines of
Grupo Mexico and Peñoles, the La
Colorada mine of Pan American Silver and La Parrilla and
Del Toro mines of First Majestic
Silver and Fresnillo PLC's Fresnillo mine.
A series of silver-zinc-lead epithermal veins are observed over
a northwest-southeast striking zone extending over approximately 15
kilometres hosted in the Lower Volcanic Group. Mineralization
occurs in low to intermediate sulphidation veins, primarily
striking northwest and dipping southwest. The main La Esperanza vein, located in the southeast of
the project area, is a banded and cockade white to grey quartz
breccia epithermal vein with silver, lead and zinc mineralization
associated with argentiferous galena, silver sulfosalt minerals and
sphalerite. Drilling to date on this vein has outlined a
mineralized envelope over a strike distance of 400 metres and to a
depth of 350 metres that is open in both directions to the
northwest and southeast along strike and to depth defined by
mineralized intercepts over appreciable widths and high
silver-gold-zinc-lead grades. Alteration of the volcanic host rocks
extending along strike from the La
Esperanza vein outcrop, the spatial association with a
discrete broad magnetic anomaly (possibly an igneous intrusion at
depth), as well as local drainage patterns has outlined a target
extending for over 5 kilometres in this area. Further details are
listed under the La Esperanza
project profile on the Company's website www.canasil.com, and have
been previously reported in the company's news releases.
About 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.
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.
SOURCE Canasil Resources Inc.
