Canasil Plans Drill Mobilization to Resume Drilling at the Nora Silver-Gold Project in Durango State, Mexico
Suite 1760 – 750 West Pender Street
Vancouver, BC
Canada V6C 2T8
Tel: 604-708 3788
Fax: 604-708 3728
Email: [email protected]
_
NEWS RELEASE TSX-V: CLZ
November 10, 2021 www.canasil.com
Canasil Plans Drill Mobilization to Resume Drilling
at the Nora Silver-Gold Project in Durango State, Mexico
Vancouver, November 10, 2021 - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the
“Company”) announces plans for mobilization and resumption of core drilling at the Nora silver-gold project
in north-central Durango State, Mexico . The drill rig and logistics equipment are expected to be on site to
start drilling during the week of November 15, 2021. The focus of this follow up 2021 drill program will be to
test below and along strike extensions of the Candy vein h igh-grade gold and silver panel defined by the
2020 and 2021 drill programs to date.
All ten drill holes completed to date along 500 metres of the 3 -kilometre traced strike of the Candy vein ,
and to a depth of 175 metres below surface , have intersected the vein and returned positive silver-gold
results. These intercepts represent an initial discovery at the Nora project and warrant continued drilling to
expand the high-grade silver and gold mineralized panel outlined by these drill holes. A long section showing
all ten drill intercepts with widths and grades is included below, together with projected intercept points of
planned drill holes for reference. Current weather and site conditions are very favourable for effective and
efficient drilling and it is anticipated that several drill holes can be completed before the year -end holiday
break on December 17, 2021.
Drilling will be focused below and on strike extension to the north of drill holes NRC-21-09 and NRC -21-12
which returned the widest intercepts and highest silver and gold grades to date from the Candy vein , as
detailed in the table below:
Nora Project, Durango State, Mexico – 2021 Candy Vein Core Drill Hole Results NRC-21-09 & NRC-20-12
Vein/Structure From To Width TrueWidth Gold Silver Copper Lead Zinc Ag. Eq.*
Metres Metres Metres Metres g/t g/t % % % g/t
NRC-21-09 (reported on Aug. 12, 2021)
CANDY HW 180.97 184.60 3.63 3.29 6.44 884 0.03 0.10 0.22 1,355
INCLUDES 180.97 183.00 2.03 1.84 8.45 1,021 0.04 0.12 0.29 1,634
INCLUDES 182.00 183.00 1.00 0.90 9.36 1,100 0.02 0.13 0.24 1,779
CANDY VEIN 190.00 191.00 1.00 0.90 1.65 431 0.00 0.03 0.14 550
CANDY VEIN 194.90 196.60 1.70 1.53 20.59 1,290 0.04 0.12 0.29 2,783
INCLUDES 195.90 196.60 0.70 0.63 43.70 1,290 0.05 0.18 0.38 4,458
CANDY VEIN 206.00 207.00 1.00 0.90 1.89 380 0.01 0.05 0.07 516
CANDY FW 210.00 213.00 3.00 2.71 2.76 250 0.01 0.05 0.11 450
INCLUDES 212.00 213.00 1.00 0.90 6.19 319 0.01 0.04 0.08 768
NRC-21-12 (reported Sept. 15, 2021)
CANDY STR. 209.50 222.00 12.50 11.29 5.31 336 0.02 0.06 0.17 721
CANDY HW 209.50 211.00 1.50 1.35 9.00 487 0.03 0.06 0.12 1,140
INCLUDES 210.00 211.00 1.00 0.90 11.20 396 0.02 0.04 0.11 1,208
CANDY CENTRAL 212.00 214.00 2.00 1.81 9.54 729 0.04 0.13 0.36 1,421
INCLUDES 213.00 214.00 1.00 0.90 9.93 745 0.04 0.16 0.33 1,465
CANDY FW 220.00 222.00 2.00 1.81 9.43 666 0.04 0.07 0.11 1,350
INCLUDES 221.00 222.00 1.00 0.90 13.55 828 0.04 0.06 0.11 1,810
*Silver Equivalent calculated based on metal prices below and assuming 100% recoveries for all metals
Au US$ 1,935/Oz, Ag US$ 28/Oz, (Au:Ag 72.5) Cu US$2.95/lb, Pb US$ 0.86/lb, Zn US$ 1.09/lb – Pb & Zn <1% Not Included
Canasil Resources Inc.
News Release, November 10, 2021 page 2/3
About Nora Silver-Gold-Copper Project, Durango State, Mexico:
The Nora project is located approximately 200 km north -west of the City of Durango, with good access and
infrastructure. The geological setting is a Tertiary-aged volcanic flow-dome complex. Gold-silver mineralization is
hosted within two structurally -controlled epithermal veins, Candy and Nora. Mineralization is typical of that
found at many mines in the region, with gold and silver associated with galena, sulfosalt minerals and lesser
pyrite, sphalerite and chalcopyrite. There is evidence of some historical mining activity on the Candy vein, which
is exposed in discontinuous outcrops for over 900 metres . The fault structure hosting the Candy vein has been
traced for a distance of over 3 km. Samples of vein outcrop and mineral dumps from the Candy vein returned
significant gold, silver, copper, zinc and lead values. The second vein, Nora, is found 600 metres northeast of the
Candy vein and can be traced for 230 met res with widths of over 9.0 metres. Surface samples from this vein
returned anomalous silver values associated with trace sulphides, with a geochemical signature typical of the
higher levels of epithermal vein systems in the region . The 2020 and 2021 drill programs were the first drilling
programs at the Nora project and have both returned very encouraging intercepts with high gold, silver and
copper values from the Candy vein, defining a high-grade central mineralized panel.
Systematic grid soil sampling over an area of 3 km by 2 km covering the Candy and Nora veins and projected
extensions, showed elevated silver, base metal (copper, lead and zinc) and pathfinder (antimony and arsenic)
values. The combination of the vein outcrops with large areas of anoma lous silver and base metal values in soil
samples may indicate additional concealed mineral systems . Other major deposits in the region include SSR
Mining’s La Pitarrilla deposit located 50 km east of the Nora project.
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 subsidiar y in Durango, Mexico,
with full time geological and support staff for its operations in Mexico.
For further information please contact:
Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com
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 news 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 mate rially 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. Factors 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, November 10, 2021 page 3/3
Canasil Nora Silver-Gold Project, Durango, Mexico
Candy Vein Long Section - 2020 and 2021 Drill Intercepts and Planned Drill Holes