Canasil
Drilling Intersects More High-Grade Copper and Silver At the Colibri Project
in Durango State, Mexico
Vancouver,
November 13, 2007 - Canasil Resources Inc. ("Canasil" TSX-V: CLZ) is
pleased to announce that further diamond drilling completed at the Colibri
project in Durango State, Mexico, has returned more high-grade mineralized
intercepts from the Linda vein containing copper, silver and zinc. Drill hole CO-07-12 cut the vein
with a width of 3.30 metres (true
width 2.70 metres) with an average grade of 2.48% copper, 63 g/t silver and 0.12% zinc.
The intercept included 1.00 metre
(true width 0.82 metres) with an average grade of 6.82% copper, 173 g/t
silver and 0.16% zinc. A hanging wall veinlet was also
intersected over a width of 0.60
metres (true width 0.49 metres), carrying 87 g/t silver, 1.1% copper and
0.98% zinc.
Drill hole CO-07-13 intersected
the Linda vein over a width of 13.16
metres (true width 9.30 metres) containing 33 g/t silver, 1.17% copper and
0.10% zinc. This intercept included 3.18 metres (true width 2.25 metres) carrying 58
g/t silver, 1.76% copper and 0.25% zinc, and 5.92 metres (true width 4.18 metres) carrying 37
g/t silver and 1.43% copper. A separate narrow hanging wall
vein intersected by CO-07-13 close to the surface carried extremely
high-grade copper-silver mineralization over a width of 0.25 metres (true width 0.18 metres) with
568 g/t silver and 23.10% copper.
A summary of the assay results from these drill holes, as well as
CO-07-09, announced on March 19, 2007, is presented in the table below, and a
table with detailed sample intervals and assay results is attached below for
reference.
Colibri Project - Phase 1
Diamond Drill Program
|
Vein
|
Interval - Metres
From To
|
Intercept Width
Metres
|
True Width Metres
|
Grades
|
Silver
g/t
|
Copper
%
|
Zinc
%
|
Silver Eq.
g/t*
|
Linda Vein - Diamond Drill Hole C0-07-13
|
HW Veinlet
|
37.50
|
37.75
|
0.25
|
0.18
|
568
|
23.10
|
0.29
|
3,855
|
Linda
|
144.84
|
158.00
|
13.16
|
9.30
|
33
|
1.17
|
0.10
|
204
|
Includes
|
144.84
|
148.02
|
3.18
|
2.25
|
58
|
1.76
|
0.25
|
321
|
and
|
150.08
|
156.00
|
5.92
|
4.18
|
37
|
1.43
|
0.05
|
242
|
Linda Vein - Diamond Drill Hole C0-07-12
|
HW Vein
|
158.60
|
159.20
|
0.60
|
0.49
|
87
|
1.1
|
0.98
|
248
|
Linda
|
167.00
|
170.30
|
3.30
|
2.70
|
63
|
2.48
|
0.12
|
420
|
Includes
|
168.30
|
169.30
|
1.00
|
0.82
|
173
|
6.82
|
0.16
|
1,148
|
Linda Vein - Diamond Drill Hole CO-07-09 (announced March 19, 2007)
|
Linda Vein
|
74.65
|
78.35
|
3.70
|
2.83
|
98
|
3.49
|
1.96
|
703
|
And
|
77.35
|
78.35
|
1.00
|
0.76
|
177
|
7.46
|
0.30
|
1,250
|
*Silver
Equivalent based on $14.50/oz Silver, $3.00/lb Copper, $1.20/lb Zinc,
assuming 100% recoveries
|
The Linda vein has a very
prominent surface expression, which has now been traced for over 4,000 metres
along strike. Mineralization observed in the drill intercepts consists of
pyrite, chalcopyrite, galena and sphalerite. These drill holes confirm
consistent copper-silver mineralization over a strike length of 150 metres in
the central zone of the Linda vein.
The high grade
copper-silver mineralization observed in the Linda vein at the Colibri
project is similar to copper-silver mineralization being mined from deposits
in the neighboring Zacatecas region. Drilling to date has investigated the
vein close to the surface down to a depth of approximately 150 metres. There
is considerable potential for further drilling to investigate this
copper-silver structure along strike and at depth given the significant width
and surface strike length of the Linda vein.
The 100% owned Colibri project covers an area of
16,074 hectares (39,700 acres), located 70 km south-southeast of the City of
Durango. There are numerous veins and mineralized structures, which have been
traced on surface over a cumulative strike distance of 14 kilometres, within
highly altered zones observed throughout the project area. The project has
excellent road access and good local infrastructure for supporting
exploration and mining operations, and is located within 75 km of the San
Martin mine of Grupo Mexico, the La Colorada mine of Pan American Silver
Corp., and the La Parrilla mine of First Majestic Resource Corp.
The diamond drill program
was supervised and carried out by the Company's wholly owned Mexican
subsidiary, Minera Canasil S.A. de C.V., under the direction of Erme
Enriquez, Director of Exploration and Development. Drill core was sent to the
Company's core processing and storage facility in Durango, for processing and
preparation of assay samples. Samples are cut by diamond saw, and half is
sent for assay and half secured for reference. Samples are sent to the SGS
Laboratories in Durango for processing and assay analysis for gold and silver
by fire assay with an atomic absorption finish ("FA-AA") on a 30
gram split, and for copper, lead and zinc by digestion of 1.00 gram sample in
aqua regia and analysis by AA. A duplicate set of pulp samples are also sent
to ALS Chemex Laboratories in Vancouver for check assays. Reference samples
are routinely included in the sample stream. Gary Nordin, P. Geo. British
Columbia and Director of Canasil, is the designated Qualified Person for this
project in accordance with National Instrument 43-101.
About Canasil:
Canasil is a Canadian
mineral exploration company with interests in precious and base metal
properties in British Columbia, Canada, and in Durango, Sinaloa and Zacatecas
States, Mexico. The Company's directors and management include industry
professionals with a consistent track record of identifying and advancing
successful mineral exploration projects. The Company is actively engaged in
the exploration of mineral properties and evaluating additional acquisition
opportunities.
For further
information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com
|
Corporate Communications
Vancouver: Doug Kerr
(604) 718-5454
Email: dkerr@canasil.com
Calgary: Garth McTavish
Tel: (403) 618-7327
Email: garthmctavish@shaw.ca
|
Toronto:
Tracy Weslosky or Fred Cowans
Pro-Edge Consultants Inc.
Tel: (416) 581-0177
Toll Free: (866) 544-9622
Email: fred@pro-edge.com
tracy@pro-edge.com
|
The TSX Venture Exchange has not reviewed and does not
accept responsibility
for the adequacy or accuracy of the
content of this news release.
This news release
contains certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements
of historical fact, that address future production, reserve potential,
exploration drilling, exploitation activities and events or developments
that the Company expects to occur, are forward looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Investors are
cautioned that any such statements are not guarantees of future performance.
Forward-looking statements are based on the beliefs, estimates and opinions
of the Company's management on the date the statements are made.
COLIBRI Drill
holes CO-07-09, 12 and 13 - Sample Intervals and Assays:
(ALS Chemex, Vancouver)
COLIBRI Drill Hole CO-07-09
|
Sample
|
Interval
|
Width
|
Grades
|
No
|
From
|
To
|
m
|
Au g/t
|
Ag g/t
|
Cu %
|
Zn %
|
5522
|
74.65
|
75.30
|
0.65
|
0.376
|
49.8
|
0.76
|
10.15
|
5523
|
75.30
|
75.70
|
0.40
|
0.201
|
124.0
|
2.07
|
0.47
|
5524
|
75.70
|
76.20
|
0.50
|
0.159
|
169.0
|
6.97
|
0.12
|
5525
|
76.20
|
77.00
|
0.80
|
0.027
|
12.0
|
0.33
|
0.09
|
5526
|
77.00
|
77.35
|
0.35
|
0.085
|
30.6
|
1.11
|
0.13
|
5527
|
77.35
|
78.35
|
1.00
|
0.163
|
177.0
|
7.46
|
0.30
|
Average Grades
|
3.70
|
0.17
|
65
|
2.04
|
1.40
|
COLIBRI Drill Hole CO-07-12
|
Sample
|
Interval
|
Width
|
Grades
|
No
|
From
|
To
|
m
|
Au g/t
|
Ag g/t
|
Cu %
|
Zn %
|
Hanging
Wall Vein
|
6886
|
158.60
|
159.20
|
0.60
|
0.181
|
87.2
|
1.1
|
0.98
|
Linda
Vein
|
6893
|
167.00
|
168.30
|
1.30
|
0.028
|
19
|
0.81
|
0.10
|
6894
|
168.30
|
169.30
|
1.00
|
0.084
|
173
|
6.82
|
0.16
|
6895
|
169.30
|
170.30
|
1.00
|
0.074
|
9.1
|
0.31
|
0.11
|
Average Grades
|
3.30
|
0.06
|
63
|
2.48
|
0.12
|
COLIBRI Drill Hole CO-07-013
|
Sample
|
Interval
|
Width
|
Grades
|
No
|
From
|
To
|
m
|
Au g/t
|
Ag g/t
|
Cu %
|
Zn %
|
Hanging Wall Veinlet
|
6932
|
37.50
|
37.75
|
0.25
|
0.40
|
568
|
23.10
|
0.29
|
Linda Vein
|
6904
|
144.84
|
145.40
|
0.56
|
0.096
|
69.9
|
2.81
|
0.13
|
6905
|
145.40
|
146.10
|
0.70
|
0.213
|
49.5
|
1.49
|
0.65
|
6906
|
146.10
|
146.55
|
0.45
|
0.008
|
8.4
|
0.22
|
0.06
|
6907
|
146.55
|
147.00
|
0.45
|
0.225
|
62
|
2.15
|
0.11
|
6908
|
147.00
|
148.02
|
1.02
|
0.149
|
76.8
|
1.88
|
0.20
|
6909
|
148.02
|
149.00
|
0.98
|
0.053
|
4.3
|
0.14
|
0.04
|
6910
|
149.00
|
150.08
|
1.08
|
0.03
|
4.8
|
0.19
|
0.09
|
6911
|
150.08
|
151.00
|
0.92
|
0.09
|
39.4
|
1.51
|
0.11
|
6912
|
151.00
|
152.00
|
1.00
|
0.124
|
54.8
|
2.23
|
0.07
|
6913
|
152.00
|
153.00
|
1.00
|
0.168
|
28
|
1.25
|
0.04
|
6914
|
153.00
|
154.00
|
1.00
|
0.092
|
40.6
|
1.4
|
0.03
|
6915
|
154.00
|
155.00
|
1.00
|
0.099
|
12.5
|
0.58
|
0.02
|
6916
|
155.00
|
156.00
|
1.00
|
0.071
|
46.2
|
1.64
|
0.03
|
6917
|
156.00
|
157.00
|
1.00
|
0.057
|
3.8
|
0.13
|
0.02
|
6918
|
157.00
|
158.00
|
1.00
|
0.097
|
17.3
|
0.80
|
0.04
|
Average Grades
|
9.30
|
0.10
|
33
|
1.17
|
0.10
|
COLIBRI
Silver-Copper-Zinc Project
Linda vein long section showing drill
holes CO-07-09, 12 and 13:
|