Canasil Reports Assay Results at its La Esperanza Vein

Canasil Resources Inc. (TSXV:CLZ) announced assay results from drill hole ES-18-21. This hole intersected the La Esperanza vein, located in the SE of the project area, over a core length of 14.11 metres with strong epithermal textures and disseminated sulphide minerals. The entire vein structure is mineralized returning 12.20 metres true width of 68 grams per tonne silver, 0.11 grams per tonne gold, 1.02 percent zinc, 0.17 percent lead and 0.07 percent copper, with bands of higher grade mineralization as detailed  below.

Highlights are as follows:

• The highest grade zone was close to the footwall of the vein structure from 325.33 metres to 327.55 metres, returning 2.22 metres (true width 1.92 metres) of 190 grams per tonne silver, 0.13 grams per tonne gold, 1.35 percent zinc, 0.22 percent lead and 0.06 percent copper, including 0.80 metres (true width 0.69 metres) of 248 grams per tonne silver, 0.14 grams per tonne gold, 1.28 percent zinc, 0.31 percent lead and 0.09 percent copper. A lower footwall section from 328.45 metres to 329.10 metres returned 0.65 metres (true width 0.56 metres) of 255 grams per tonne silver, 0.02 grams per tonne gold, 0.18 percent zinc, 0.15 percent lead and 0.26 percent copper. A hanging wall section from 314.99 metres to 315.54 metres returned 0.55 metres (true width 0.48 metres) of 136 grams per tonne silver, 0.22 grams per tonne gold, 2.63 percent zinc, 0.60 percent lead and 0.05 percent copper.

  This vein intercept is at a vertical depth of approximately 225 metres below surface, located 50 metres below and 25 metres step-out to the SE from drill hole ES-17-16. This wide vein intercept is the southeast extension of the La Esperanza vein and is located in an untested area that is below previous drilling. The entire vein structure appears to be preserved over the 14.11-metre intercept in this zone and this opens the southeast extension of the La Esperanza vein for additional drilling along strike and to depth, which is very encouraging.

  The recovery of a complete, non-faulted interval of the La Esperanza vein reveals a number of important geological features that have important implications for exploration. The vein textures and symmetry of the vein suggests a well-developed epithermal environment, with the strongest mineralization within a breccia domain near the footwall contact. Re-logging of earlier vein intersections suggest similar controls on mineralization. The same mineralizing relationships are noted at other epithermal vein deposits and are interpreted to be the result of intense boiling. Drilling has traced the La Esperanza vein over a strike distance of 425 metres and to a depth of 350 metres and remains open for expansion both to the northwest and southeast along strike and to depth. A plan map and long section showing the trace and pierce point of ES-18-21 and photos of the core from the vein intercept are attached below.