Canasil Initial 2020-21 Drill Holes Extend the La Esperanza Mineralized Envelope Along Strike and to Depth
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NEWS RELEASE TSX-V: CLZ
March 17, 2021 www.canasil.com
Canasil Initial 2020-21 Drill Holes Extend the La Esperanza Mineralized Envelope
Along Strike and to Depth
Vancouver, March 17, 2021 - Canasil Resources Inc. ( TSX-V: CLZ , DB Frankfurt: 3CC, “Canasil” , the
“Company”) provides an upda te on the 2020-21 drill program at the La Esperanza silver -gold project in
Durango and Z acatecas States, Mexico . Drill holes ES-20-22, ES -21-23 and ES -21-24 on the southeast
extension of the La Esperanza vein have been completed to downhole depths of 171 m, 406 m and 422 m
respectively, and drill hole ES-21-25 on the northwest extension is currently in progress. The first three drill
holes have all intersected the La Esperanza vein as projected, with the intercept points shown on the long
sections below.
The objective of the initial 2020 -2021 drill holes on the southeast side of the mineralized envelope was to
extend the vein zone on a blind step -out along strike in ES -20-22, and step -outs to depth in ES -21-23 and
ES-21-24. ES-20-22 cut the La Esperanza vein and extended the mineralized envelope by 100 metres (m) to
the southeast on a blind section which had not been tested to date. ES-21-23 extended the mineralized
envelope by 50 m to depth, and ES-21-24 cut the La Esperanza vein with a further 50 m extension to depth,
increasing the overall depth extent by 100 m. All three drill holes also cut bands of alteration confirming a
strong mineralizing environment associated with the La Esperanza vein. Assay results for these drill holes
will be announced when they are received and reviewed.
The vein intercepts in these drill holes confirmed that the La Esperanza vein can be located along strike and
to depth as projected. The drill defined mineralized envelope, b elow the 150 -metre strike length surface
outcrop of the vein, has now been extended from 425 m to 525 m along strike (+23.5%). The southeast
depth extent has increased from 250 m to 3 50 m (+40%), resulting in an overall increase of the mineralized
envelope by 73%. The results from these drill holes are encouraging for continued drilling to further expand
the known mineralized envelope of the La Esperanza vein.
About La Esperanza
The La Esperanza silver -gold-zinc-lead project covers 14,916 hectares, located 100 km SSE of the city of
Durango in southern Durango and northern Zacatecas States. The project is easily accessible from Canasil’s
operating base in Durango with excellent infrastructure. The project is located on the well-recognized world
class Fresnillo silver belt, hosting a number of prominent silver mines such as the San Martin -Sabinas mines
of Grupo Mexico and Peñoles, the La Colorada mine of Pan American Silver and La Parrilla and Del Toro
mines of First Maj estic Silver , Fresnillo PLC’s Fresnillo mine, and Fresnillo -MAG Silver joint venture’s
Juanicipio mine.
A series of silver -zinc-lead epithermal veins are observed over a northwest -southeast striking zone
extending over approximately 15 kilometres hosted in the Lower Volcanic Group. Mineralization occurs in
low to intermediate sulphidation veins, primarily striking northwest and dipping southwest. The main La
Esperanza vein, located in the southeast of the project area, is a banded and cockade white to grey quartz
breccia epithermal vein with silver, gold, zinc and lead mineralization associated with argentiferous galena,
silver sulfosalt minerals and sphalerite.
Canasil Resources Inc.
News Release, March 17, 2021 page 2/3
Drilling to date on this vein has outlined a mineralized envelope over a strike distance of 5 25 m and to a
depth of 350 m depth, defined by mineralized intercepts over appreciable widths with high silver-gold-zinc-
lead grades , that is open in both directions to the northwest and southeast along strike and to depth.
Alteration of the volcanic host rocks extending along strike from the La Esperanza vein outcrop, the spatial
association with a discrete broad magnetic anomaly (possibly an igneous intrusion at depth), as well as local
drainage patterns has outlined a target extending for over 5 kilometres in this area. Further details are
listed under the La Esperanza project profile on the Company’ s website www.canasil.com, and have been
previously reported in the company’s news releases.
The technical information herein has been reviewed and approved by Robert Brown (P. Eng.), a Qualified
Person as defined by National Instrument 43-101. Mr. Brown is a technical advisor to Canasil.
About Canasil:
Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver -gold-
copper-lead-zinc projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The
Company’s directors and management include industry profess ionals with a track record of identifying and
advancing successful mineral exploration projects through to discovery and further development. The
Company is actively engaged in the exploration of its 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.
This release includes certain statements that may be deemed to be “forward -looking statements”. All
statements in this release, other than statements of historical facts are forward looking statements,
including statements that address future mineral production, reserve potential, exploration drilling,
exploitation activities and events or developments. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to differ materially from those
anticipated in such 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 or developments may differ materially from those in
the forward-looking statements. Fac tors that could cause actual results to differ materially from those in
forward-looking statements include, but are not limited to, changes in commodities prices, exploration
successes, continued availability of capital and financing, and general economic, market or business
conditions. The reader is referred to the Company’s filings with the Canadian securities regulators for
disclosure regarding these and other risk factors. There is no certainty that any forward -looking statement
will come to pass and investors should not place undue reliance upon forward-looking statements.
Canasil Resources Inc.
News Release, March 17, 2021 page 3/3
La Esperanza Vein Long Sections With Drill Hole Intercept Locations and Grade x Width Values