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A Canadian review of true width x grade candy vein drill results up to 8,445 g / t AgEq * x meters suggests high potential at the Nora Silver and Gold Project in Durango, Mexico.

Vancouver, British Columbia, March 9, 2022 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZDB Frankfurt: 3CC, “Canasil” Or “Company”) has published a review of the results of the 2020-21 drill program completed at the Candy Vein at the Nora Silver Gold Project in north-central Durango, Mexico. A total of 3,296 meters (“m”) was completed with 13 core drill holes and tested the candy vein structure at a strike distance of 500 m and a vertical depth of 250 m below the surface of the water. All 13 drill holes cut mineralized vein structures and return particularly wide, high-grade gold (“Au”) and silver (“Ag”) sections within the central 200-meter zone tested. ..

True maximum width (“TW”) x grade value, cut into core drill holes NRC-21-11was 11.29 m TW, 5.31 g / t gold (“Au”) and 336 g / t silver (“Ag”), 748 g / t silver equivalent (“AgEq”) *, give TWx grade value 8,445g / t AgEq * xm..The finest was cut into a core drill hole NRC-21-09 When 1.53 m TW return 20.59 g / tAu and 1,290 g / t Ag, 2,886 g / t AgEq *, give TWxm value of 4,416 g / t AgEq * xm.. Most drill holes cut multiple mineralized intercepts with a total of 26 intercepts in all 13 drill holes and 18 intercepts in 7 drill holes in the central 200 meter zone. The weighted average TW of all 26 intercepts is 2.06 m, 4.25 g / tAu and 356 g / t Ag, 696 g / tAgEq and TWx grade value 1,434 g / t AgEq * xm..For 18 intercepts in the central zone, the weighted average TW is 2.65 m, 4.48 g / tAu and 381 g / t Ag, 734 g / t AgEq * and TWx grade value 1,945 g / t AgEq * xm.. The following table contains selected results from seven drill holes in a central zone of 200 meters that return true width x grade values ​​greater than 1,000 g / t AgEq * xm.

Nora Silver Gold Project, Durango, Mexico – Results of Carefully Selected Candy Vein Drills
Veins / muscles from To width TW gold Silver copper lead zinc AgEq * TW x AgEq *
M M M M g / t g / t % % % g / t g / txm
Core drill hole NRC-20-04
Candy vein 139.52 143.25 3.73 3.05 3.71 489 0.53 0.14 0.16 838 2,556
Core drill hole NRC-20-06
Candy HW 132.85 135.50 2.65 2.40 4.78 351 0.01 0.14 0.34 721 1,730
Candy vein 145.00 146.65 1.65 1.49 11.86 378 0.01 0.05 0.16 1,297 1,933
Core drill hole NRC-21-09
Candy HW 180.97 184.60 3.63 3.29 6.44 884 0.03 0.10 0.22 1,383 4,550
Candy vein 194.90 196.60 1.70 1.53 20.59 1,290 0.04 0.12 0.29 2,886 4,416
Candy FW 210.00 213.00 3.00 2.71 2.76 250 0.01 0.05 0.11 464 1,257
Core drill hole NRC-21-10
Candy HW 182.10 188.00 5.90 5.33 1.14 157 0.02 0.05 0.11 245 1,306
Core drill hole NRC-21-11
Candy HW 131.82 139.00 7.18 6.72 2.05 344 0.05 0.44 0.85 503 3,380
Core drill hole NRC-21-12
Candy STR. 209.50 222.00 12.50 11.29 5.31 336 0.02 0.06 0.17 748 8,445
Including Candy HW 209.50 211.00 1.50 1.35 9.00 487 0.03 0.06 0.12 1,185 1,600
And CANDY VEIN 212.00 214.00 2.00 1.81 9.54 729 0.04 0.13 0.36 1,468 2,657
And CANDY FW 220.00 222.00 2.00 1.81 9.43 666 0.04 0.07 0.11 1,397 2,529
Core drill hole NRC-21-13
Candy vein 295.20 299.00 3.80 3.46 2.96 241 0.15 0.02 0.21 489 1,692
* Silver equivalent is calculated based on the following metal prices and assumes an equivalent recovery rate for all metals
Au US $ 1,850 / Oz, Ag US $ 23.87 / Oz, Cu US $ 4.40 / lb, Pb US $ 1.07 / lb, Zn US $ 1.63 / lb; Contains less than 1% lead and zinc

These results suggest that the candy vein structure consistently hosts high-grade gold and silver mineralization over a considerable range. The width and grade found within the candy vein structure form a strong foundation for portraying high-value gold and silver mineralization. As a reference for interpreting these results, a width x grade value of 400 g / t to 500 g / t AgEq x meters (for example, an average grade of 200 g / t to 250 g / tAgEq of 2.0 m TW) is generally considered. increase. Economically feasible at current silver prices for underground mining in the Nora project area of ​​Mexico. Readers should note that while the Nora project is in the exploration stage and the results so far are very promising, there is not enough information to show the minable deposits.

To date, Kandy’s vein structure has only been tested to a depth of 250 m below the surface, with a potential strike distance of 500 m for a 3 km strike. The 2020 and 2021 drill programs are the first drill programs in the project area. Consistently high gold and silver grades, along with relatively low base metal values, confirm the high level of powerful gold and silver mineralization systems within candy structures that can be significantly expanded to depth along strikes. The following long section shows the drill intercepts of all 13 holes completed so far in the candy vein structure, with an overview of the entire 500 m mineralization zone and the higher grade 200 m median strip drawn so far. Is shown. A detailed table of results from all drill holes is also included below and can be viewed on our website (www.canasil.com).

In addition to systematic grid soil sampling of candy vein structures 2 km east-west and 3 km north-south covering the central zone of the project, a wide range of silver, gold, copper, zinc, and lead geochemical anomalies consistent with Pathfinder. The returned mineral anomaly. Gold and silver anomalies are particularly strong in the 3 km strike range of the candy vein structure to the west of the project area, and to the southwest and east of the candy vein structure. Strong silver and gold anomalies could extend 1.5 km southwest of the location of the above high-grade drill intercepts in the candy vein, identifying breccia targets to the south and hosting large volumes of silver-gold mineralization. there is. Future exploration priorities outlined in the complete set of silver and gold geochemical anomaly maps and geochemical elemental maps can be found on our website at www.canasil.com.

About the Nora Silver-Gold-Copper-Zinc-Lead Project in Durango, Mexico:

The Nora project is located approximately 200 km northwest of the city of Durango and has good access and infrastructure. The geological setting is the Tertiary volcanic flow dome complex. The mineralization of gold and silver is hosted within two structurally controlled extrathermal veins, Kandy and Nora. Mineralization is typical of many mines in the region, with gold and silver associated with galena, sulfosalt minerals, pyrite, sphalerite, and chalcopyrite. There is evidence of historic mining activity in the candy vein exposed to discontinuous outcrops of over 900 meters. The fault structure hosting the candy vein has been tracked at distances of over 3 km. Vein outcrops and mineral dump samples from the candy vein returned significant gold, silver, copper, zinc, and lead values. The second vein, Nora, is 600 meters northeast of the Kandy vein and can be traced 230 meters, over 9.0 meters wide. Surface samples from this vein returned anomalous silver values ​​associated with trace sulfides, with geochemical features typical of the region’s high-level thermoexternal vein system. The 2020 and 2021 drill programs were the first drill programs in the Nora project and consistently returned promising intercepts with high gold, silver and copper values ​​from candy veins.

Historical systematic grid soil sampling over a 3km x 2km area covering the candy and nora veins and projected extensions of silver, base metals (copper, lead, zinc), Pathfinder (antimony, arsenic). Showed an increase in value. The combination of venous outcrops with anomalous silver and wide areas of base metal values ​​in soil samples may indicate an additional hidden mineral system. Other major deposits in the region include the La Pitarrilla deposit in SSR Mining, located 50 km east of the Nora project.

The Nora project drill program was conducted by our exploration team in Mexico under the direction of Eng. Ermeen Riques (CPG). All core samples are recorded and prepared at the company’s core storage facility in Durango, Mexico, sent to ALS Laboratories in Zacatecus, Mexico for preparation, and then gold and silver by fire analysis using atomic absorption. Sent to ALS Global in Vancouver for analysis. Finish in 30 gram divisions (“FA-AA”) and for silver, copper, lead, zinc, and trace elements by ICP analysis after digesting a 0.50 gram sample with aqua regia. Silver and silver above the limit are analyzed using royal water decomposition, followed by ICP-AES or AAS finishing, and gold and silver above the limit are analyzed by weight analysis (Au-GRA21 and Ag-GRA-21). Will be analyzed. Our QA / QC program involves inserting certified analytical standards and blanks into sample batches and then carefully monitoring the results to ensure quality analysis.

The technical information contained herein has been reviewed and approved by a qualified person, Robert Brown (P. Eng.), As defined by National Instrument 43-101. Mr. Brown is a technical advisor to Kanasil.

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, Mexico, and British Columbia, Canada. Our board of directors and management includes industry experts who have a proven track record of identifying successful mineral exploration projects, leading to discovery and further development. We are actively engaged in exploration of mineral properties, have a business subsidiary in Durango, Mexico, and have full-time geology and support staff for our business in Mexico.

For more information, please contact:

Buffman Yamini
President and Chief Executive Officer
Canasil Resources Inc.
Tel: (604) 708-3788
www.canasil.com

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this news release.

This news release contains certain statements that may be considered “forward-looking statements.” All statements in this release, except historical facts statements, are forward-looking statements, including statements addressing future mineral production, potential reserves, exploration and drilling, exploitation activities and events or developments. These statements include known and unknown risks, uncertainties, and other factors that may cause actual results and events to differ materially from those expected in such forward-looking statements. increase. We believe that such forward-looking statements are based on reasonable assumptions, but such statements do not guarantee future performance and actual results or developments are forward-looking statements. Can be very different from. Factors that may cause actual results to differ materially from forward-looking statements include commodity price fluctuations, successful exploration, continued availability of capital and funds, and general economic, market, or business. Situations include, but are not limited to. Readers will refer to our filings with Canadian securities regulators for disclosures of these and other risk factors. It is uncertain whether the forward-looking statement will be realized and investors should not place excessive reliance on the forward-looking statement.

The photos that accompany this announcement are available at the following URL:

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A Canadian review of true width x grade candy vein drill results up to 8,445 g / t AgEq * x meters suggests high potential at the Nora Silver and Gold Project in Durango, Mexico.

Source link A Canadian review of true width x grade candy vein drill results up to 8,445 g / t AgEq * x meters suggests high potential at the Nora Silver and Gold Project in Durango, Mexico.

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