Canasil Increases Planned Drill Program to 2,200 Metres in 7 Drill Holes at the La Esperanza Project in Durango and Zacatecas States, Mexico
Suite 1760 – 750 West Pender Street
Vancouver, BC
Canada V6C 2T8
Tel: 604-708 3788
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Email: [email protected]
NEWS RELEASE TSX-V: CLZ
March 23, 2017 www.canasil.com
Canasil Increases Planned Drill Program to 2,200 Metres in 7 Drill Holes
at the La Esperanza Project in Durango and Zacatecas States, Mexico
Vancouver, March 23, 2017 - Canasil Resources Inc. ( TSX-V: CLZ , DB Frankfurt: 3CC, “Canasil”) announces
that the Company has received assay results for thr ee additional drill holes, ES-17-13, ES-17-14 and E S-17-
15, of the 2016-17 core drilling program at the La Esperanza silver-lead-zinc project in Durango and
Zacatecas States, Mexico. All three drill holes inte rsected mineralized vein structures with results de tailed
in the table below. ES-17-13 was a 90-metre step-ou t to the northwest from prior vein intercepts, and ES-
17-14 and ES-17-15 were each 50-metre and 100-metre step-outs below the previously identified
southeastern zone of the La Esperanza vein. These d rill holes have extended the confirmed intercepts o f
the La Esperanza vein to approximately 335 metres a long strike and to a depth of 425 metres below
surface. All three holes appear to have crossed or passed close to faults located to the northwest and
southeast of the central zone of the La Esperanza v ein. This resulted in ES-17-13 being lost in a cavi ty,
presumed to be part of the vein structure, and low recoveries and loss of vein material around the vei n
intercepts in ES-17-14 and ES-17-15. These factors may have contributed to lower intercept widths and
grades reported from these holes. All the holes intersected the vein in relatively wide, altered structures in
areas where prior drilling did not reach the vein, and extend the known vein zone indicating a strong
mineralized system which is open for further investigation along strike and to depth.
La Esperanza 2016 -17 Drill Program
Hole ES -17-13
Interval - Metres Width – Metres Gold Silver Zinc Lead Copper *Silver Eq
From To Interval True Au g/t Ag g/t Zn % Pb % Cu % *Ag Eq g/t
421.38 422.20 0.82 0.71 0.30 131 0.64 0.23 0.84 28 1
Hole lost in cavity, may not have intersected or recovered entire vein structure
Hole ES -17 -14
HW Vein 176.30 179.50 3.20 2.13 0.01 38 0.50 0.14 0. 02 70
La Esp 187.40 190.40 3.00 2.51 0.01 63 0.50 0.15 0. 03 98
Vein intercept close to fault, broken and soft material, low recoveries
Hole ES -17 -15
202.90 208.32 5.42 4.14 0.10 33 1.06 0.63 0.02 122
Including 202.90 204.95 2.05 1.56 0.05 51 1.90 1.38 0.03 215
Vein intercept close to fault, broken and soft material, low recoveries
*Silver equivalents calculated assuming 100% recoveries (for Ag Eq calculation only – may not reflect actual recoveries)
and Ag US$17/oz, Au US$1,250/oz,Cu US$2.50/lb, Zn US$1.30/lb, and Pb US$1.00/lb
In addition drill holes ES-17-16, a further 50-metr e step-out to the southeast from ES-17-15, and ES-1 7-17
targeted 75 metres below the main ore shoot in the central area of the La Esperanza vein have been
completed, both intersecting the vein structure. ES -17-17 intersected a 10-metre vein structure where
banded quartz carrying sphalerite and galena is obs erved – assay results for these holes will be repor ted
when received. A total of 1,820 metres in 6 drill h oles has now been completed for the current drill
program. A further drill hole, ES-17-18, is in prog ress in the northwest of the vein system, increasin g the
current program to approximately 2,200 metres in 7 drill holes.
Canasil Resources Inc.
News Release, March 23, 2017 page 2/4
The drill program is being implemented by the Compa ny’s exploration team under the direction of Eng.
Erme Enriquez (CPG), Director of Exploration and De velopment of Minera Canasil S.A. de C.V., the
Company’s wholly owned Mexican subsidiary. All core samples are processed at the Company’s core
processing and storage facility in Durango, Mexico. Samples are cut by diamond saw, and half is sent f or
assay and half secured for reference. Samples are s ent to the ALS Laboratories in Zacatecas, Mexico for
preparation and then on to ALS Laboratories in Vancouver for assay analysis for gold and silver by fire assay
with an atomic absorption finish (“FA-AA”) on a 30 gram split, and for silver, copper, lead and zinc b y
digestion of 0.50 gram sample in aqua regia and analysis by AA.
The technical information herein has been reviewed and approved by J. Blackwell (P. Geo.), a Qualified
Person as defined by National Instrument 43-101. Mr. Blackwell is a technical advisor to Canasil.
About La Esperanza
The La Esperanza silver-lead-zinc project covers 14,916 hectares, located 100 km SSE of the city of Durango
on the border between Durango and Zacatecas States. The project site is easily accessible from Canasil’ s
operating base in Durango with excellent infrastruc ture. The project location in southern Durango and
northern Zacatecas States is on the well-recognized world class Fresnillo silver belt, hosting a number of
prominent silver mines such as San Martin-Sabinas m ines of Grupo Mexico and Penoles, the La Colorada
mine of Pan American Silver and La Parrilla and Del Toro mines of First Majestic Silver and Fresnillo PLC’s
Fresnillo mine.
A series of silver-lead-zinc epithermal veins are o bserved over a northwest-southeast striking zone
extending over approximately 20 kilometres hosted i n the Lower Volcanic Group. Mineralization occurs i n
low to intermediate sulphidation veins, primarily s triking northwest and dipping southwest. The main L a
Esperanza vein is a banded and cockade white to gre y quartz breccia epithermal vein with silver, lead and
zinc mineralization associated with argentiferous g alena, silver sulfosalt minerals and sphalerite. Pr ior to
the current 2016-17 drill program, past drilling on this vein was focused along an approximate strike length
of 250 metres and to a relatively shallow depth of approximately 250 metres and returned consistent high-
grade silver-lead-zinc intercepts from the main La Esperanza vein and an associated Hanging Wall vein at
the upper levels. The average true width of intercepts from 8 drill holes on the main La Esperanza vein was
4.21 metres returning 330 g/t silver, 0.93% zinc an d 1.57% lead. The average true width of drill inter cepts
from 5 drill holes which intersected the Hanging Wa ll vein was 1.53 metres returning 324 g/t silver, 1 .37%
zinc and 1.80% lead (details listed under the La Es peranza project profile on the Company’s website
www.canasil.com , and previously reported in the news release dated November 6, 2006).
About Canasil:
Canasil is a Canadian mineral exploration company w ith a strong portfolio of 100% owned silver-gold-
copper-lead-zinc projects in Durango and Zacatecas S tates, Mexico, and in British Columbia, Canada. The
Company’s directors and management include industry professionals with a track record of identifying a nd
advancing successful mineral exploration projects t hrough to discovery and further development. The
Company is actively engaged in the exploration of i ts mineral properties, and maintains an operating
subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.
For further information please contact:
Bahman Yamini
President & CEO
Canasil Resources Inc.
Tel: 604-709 0109
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Canasil Resources Inc.
News Release, March 23, 2017 page 3/4
La Esperanza Project, Durango & Zacatecas, Mexico: La Esperanza Vein Drill Plan and Long Section
Canasil Resources Inc.
News Release, March 23, 2017 page 4/4
This release includes certain statements that may b e deemed to be “forward-looking statements”. All st atements in
this release, other than statements of historical f acts are forward looking statements, including stat ements that
address future mineral production, reserve potentia l, exploration drilling, exploitation activities an d events or
developments. These statements involve known and un known risks, uncertainties and other factors that m ay cause
actual results or events to differ materially from those anticipated in such forward-looking statement s. 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 or developments may differ
materially from those in the forward-looking statem ents. Factors that could cause actual results to di ffer materially
from those in forward-looking statements include, b ut are not limited to, changes in commodities price s, exploration
successes, continued availability of capital and fi nancing, and general economic, market or business c onditions. The
reader is referred to the Company’s filings with th e Canadian securities regulators for disclosure reg arding these and
other risk factors. There is no certainty that any forward looking statement will come to pass and inv estors should not
place undue reliance upon forward-looking statements.