VANCOUVER, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces results from two additional drill holes, NRC-20-05 and NRC-20-06, testing the Candy vein at the Nora silver-gold project in north-central Durango State, Mexico. The six drill holes completed to date along 500 metres of the 3-kilometre traced strike of the Candy vein structure have consistently intersected significant gold-silver mineralization.
Core drill hole NRC-20-06, located 100 metres north of NRC-20-04 (announced Oct. 21, 2020), returned three mineralized intercepts with the highest gold and silver values from the six drill holes drilled to date on the Candy vein.
Canasil President and CEO, Bahman Yamini, commented: “The very high-grade gold and silver values returned from NRC-20-06 are extremely encouraging and exceed expectations from a first drill program at the Nora project. The results from the six drill holes completed on the Candy vein represent a significant discovery and warrant a larger Phase 2 follow up drill program. We will be analyzing these results in detail and preparing plans for further follow up drilling at the Nora project.”
Drill hole NRC-20-05, located 200 metres north of NRC-20-06, returned an intercept of 0.73 m (TW 0.72 m) carrying 1.46 g/t gold, 7.49 g/t silver and 1.93% zinc for 167 g/t AgEq*. All six drill holes located along a strike distance of 500 metres on the Candy vein, shown on the drill plan map below, have intersected the vein structure below surface. Two additional drill holes have been completed to test the Nora vein, located 600 m NE of the Candy vein. These holes complete the planned initial drill program at the Nora project with a total of 1,744 metres in eight drill holes. The results from drill holes NRC-20-01 to NRC-20-04 (reported Sept. 10 and Oct. 21, 2020), and these results from NRC-20-05 and NRC-20-06 confirm the potential of the Candy vein for hosting very high-grade gold and silver mineralization, warranting a larger Phase 2 drill program to follow up on the high-grade zones identified by this initial drill program at the Nora project.
The drill program is implemented by the Company’s exploration team in Mexico under the direction of Eng. Erme Enriquez (CPG). All core samples are logged and prepared at the Company’s core storage facility in Durango, Mexico, and sent to ALS Laboratories in Zacatecas, Mexico, for preparation and then on to ALS Global in Vancouver for gold and silver analyses by fire assay with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for silver, copper, lead, zinc and trace elements by ICP analysis following digestion of 0.50 gram sample in aqua regia. Over limit silver and copper are assayed using an aqua regia digestion, followed by ICP-AES or AAS finish, and over limit gold and silver assayed by gravimetric finish (Au-GRA21 and Ag-GRA-21). The Company’s QA/QC program includes inserting certified analytical standards and blanks into the sample batches, and the subsequent diligent monitoring of results for quality analytical assurance.
The Nora project is located approximately 200 km north-west of the City of Durango, with good access and infrastructure.
Source: Globe Newswire