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  • Canasil (CLZ) has returned 5.9 g/t gold and 404 g/t silver over 0.57 m at La Esperanza Silver-Gold Project in Mexico
  • The results stem from the first three drill holes of the 2020-21 drill program
  • Other standout results include 1.51 g/t gold and 206 g/t silver over 0.42 m and 426 g/t silver over 0.97 m
  • The 2021 drill program seeks to extend mineralization both to the Southeast and Northwest of the project's main vein
  • Canasil is a mineral exploration company with a strong portfolio of projects in Canada and Mexico
  • Canasil Resources (CLZ) is down 4 per cent trading at C$0.12 per share

Canasil (CLZ) has returned 5.9 g/t gold and 404 g/t silver over 0.57 m at La Esperanza Silver-Gold Project in Mexico.

La Esperanza covers 14,916 hectares in Southern Durango and Northern Zacatecas States on the world-class Fresnillo silver belt.

The results stem from the first three drill holes of the 2020-21 drill program targeting the Southeast extension of the project's La Esperanza vein.

All three drill holes returned wide altered and mineralized intercepts with narrow higher grade bands marking the vein.

Drill hole ES-21-23 returned 11.63 m at 0.34 g/t gold, 32 g/t silver, 0.23 per cent lead and 0.19 per cent zinc. This includes a central high-grade core of 0.57 m at 5.90 g/t gold, 404 g/t silver, 0.99 per cent lead and 0.22 per cent zinc (832 g/t silver equivalent).

Drill hole ES-21-24 returned 5.45 m at 0.29 g/t gold, 35 g/t silver, 0.87 per cent lead and 1.25 per cent zinc. This includes a high-grade band of 0.42 m at 1.51 g/t gold, 206 g/t silver, 8.83 per cent lead and 10.25 per cent zinc (796 g/t silver equivalent).

Drill hole ES-20-22 returned 6.55 m at 64 g/t silver, 0.13 per cent lead and 0.12 per cent zinc. This includes a central high-grade core of 0.97 m at 426 g/t silver, 0.70 per cent lead and 0.42 per cent zinc (426 g/t silver equivalent).

The multiple altered and mineralized intercepts in all three drill holes confirm a strong mineralizing environment and are encouraging indicators for continued drilling.

The 2021 drill program seeks to extend mineralization both to the Southeast and Northwest of the La Esperanza vein mineralized envelope.

Drilling to date has defined the La Esperanza vein to a depth of 350 m.

Bahman Yamini, President and CEO of Canasil, commented,

"The results from the initial drill holes on the Southeast extension of the La Esperanza vein along strike and to depth confirm that the vein structure can be located as projected in a previously blind zone, and represent a significant increase to the overall mineralized envelope as previously reported. Continued exploration drilling is warranted to expand the system and its potential."

Canasil is a mineral exploration company with a strong portfolio of projects in Canada and Mexico.

Canasil Resources (CLZ) is down 4 per cent trading at C$0.12 per share as of 1:32 pm ET.

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