A subsequent ZTEM airborne geophysical survey completed in 2011 outlined a much larger complex response area covering 2.5 km by 3.5 km. Detailed surface sampling in this area led to the discovery of a high grade vein outcrop, carrying 2,150 g/t silver, 5.39% copper, and 1.89% zinc over 0.90 metres. In addition, sampling has outlined extensive areas of anomalous silver-copper-arsenic-antimony with peripheral lead and zinc anomalies, which is similar to the surface signature of the San Martin mine. The significant silver-zinc drill intercepts from prior drilling, plus results of both airborne and surface geophysical surveys, and the discovery of a high grade silver-copper-zinc vein outcrop within an area of widespread silver-copper-zinc-lead-arsenic-antimony geochemical anomalies indicate the potential for a large silver-copper-zinc-lead mineralized system.
Sandra-Escobar silver-gold project, Durango, Mexico:
The Sandra-Escobar project is located in northern Durango State, Mexico, 200 km northwest of the City of Durango with excellent access and infrastructure, on an important mineral trend with many past and presently producing silver-gold mines and deposits. Canasil holds a 100% interest in the 7,451-hectare Sandra project claims, and a 40% interest in Pan American Silver's adjacent 634-hectare Escobar claims. The project area hosts a mineralized system centered on a large altered rhyolite dome complex, with surrounding geological formations, alteration patterns, and extensive evidence of gold, silver and base metal mineralization. These features indicate the potential for hosting a large disseminated silver-gold-base metal mineralized system. A number of high-grade silver-gold veins surround the dome area.
Exploration programs to date at the Sandra-Escobar project include ASTER satellite alteration and GeoEye satellite mapping surveys, ZTEM airborne and IP ground geophysical surveys, plus surface mapping and sampling and 1,849 metres of diamond drilling in 11 drill holes. These programs have confirmed evidence of a large hydrothermal system centred on an intrusive source with the potential for hosting both high-grade vein style and disseminated mineralization. The mineralized zones observed at surface with veins and outcrops consistently return high silver, gold, copper, lead and zinc mineralization (silver grades up to 1,465 g/t, gold grades up to 19.95 g/t, copper grades up to 3.75% in surface samples). An initial shallow drill hole to test the Maria Fernanda vein, with a strike length of over 1.5 km and which is open along strike and at depth, returned 0.40 metres with 2.58 g/t gold, 429 g/t silver, 0.53% copper. Seven significant silver-gold targets have been outlined over an area of 25 square km for future drilling. The results to date indicate a similar geologic setting to some major silver and gold deposits in northern Durango State such as Silver Standard Resources' La Pitarrilla deposit, with a recently completed feasibility indicating Probable Mineral Reserves of 479 million ounces silver 32-year mine life producing 15 million ounces silver for the first 15 years.
Canasil is a Canadian mineral exploration company with interests in precious and base metal projects in Durango, Sinaloa 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. The Company is actively engaged in the exploration of its mineral properties.
To view Canasil Resources Mexico Silver-Gold Exploration Projects Map, visit the following link: http://media3.marketwire.com/docs/05_2013LocationMap.jpg
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Canasil Resources Inc.
President and C.E.O.
(604) 708-3728 (FAX)
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